The Minister for Housing, John Hargreaves, has announced that a joint venture of Macquarie Bank and Lynsolo Pty Ltd have agreed to pay rather more than was expected for the deserted Fraser Court complex in Kingston.
- “If the site had been sold two years ago for its book value, we would have been able to purchase 35 standalone, two bedroom dwellings, or construct 60 separate 2 bedroom dwellings, on land already owned by Housing ACT. We are now in a position to purchase 80, two bedroom dwellings or construct some 150, two bedroom dwellings.”
Apparently these hypothetical purchases will bump the public housing stock up over the all important target of 11,454.