CEHL backed by Vic Govt in Geelong project

07 November 2013

BCCM member Common Equity Housing (CEHL) has acquired $7.36 million in State Government backing for a $65 million project in Geelong that will transform a former school into a revitalised 193-apartment housing estate.

Victorian Premiere Dr Napthine announced the additional $7.36 million in State Government earlier this week, hailing creation of 100 jobs in construction and further growth of the city’s medical sector.

The Historic St Mary’s Hall will undergo a $5.4 million facelift and become a regional health library with cafe, decking and plaza as a centrepiece on the prime site. Barwon Health will buy 26 apartments for use by medical professionals and 20 for use primarily by cancer patients, with the remaining housing to be divided between Common Equity Housing and private sale.

“A significant component is health-related and there are also wider opportunities for a broad range of people,” Dr Napthine said.

Source: Geelong Advertiser, New $7m funding boost for Geelong inner city living, 5 November