UNDERSTANDING THE SOCIAL VALUE OF DEVELOPING SOCIAL & AFFORDABLE HOUSING

The revenue generated from operating social and affordable housing in Australia is insufficient to finance new social and affordable homes. As a consequence, the provision of social and affordable housing is dependent on government subsidy, internal resources or philanthropic grant funding to become financially viable.

Social and affordable rental housing does, however, provide a series of wider social and economic benefits (WSEB) that generate cost savings across public and private sectors.

This project involves developing a tool that enables social and affordable housing project proposals to estimate these project-specific, wider social and economic benefits, and in turn strengthen the business case for new developments. It will provide comprehensive economic justifications for the use of external resources that would assist new supply, arguments that more accurately reflect the social outcomes that occur through the provision of social and affordable housing.

The Australian Social Value Bank has teamed-up with Swinburne University of Technology, Community Housing Industry Association (CHIA) and Shelter NSW to bring the Social & Green Benefits Calculator project to life.

Swinburne University will take the lead, developing the Cost Benefit Analysis spreadsheet tool, which will include existing ASVB wellbeing values. We will continue to work with our existing partners, Simetrica-Jacobs, to undertake the research to quantify the associated environmental/ green benefits that will be included in the new tool.

The project is being managed by CHIA who will be assisted by Shelter NSW.

1. An excel based module for estimating project specific direct WSEB arising from the tenure and housing affordability aspects of new social and affordable rental housing.
2. Australia specific estimates of household benefits from access to urban green space and / or property design features such as private gardens, balconies.
3. An excel based module for estimating project specific WSEB associated with wellbeing, environmental and climate impacts of new social and affordable rental housing developments.
4. A user / training module that provides guidance on how to use the two excel modules; and how to incorporate results in business case development.

FUNDRAISING

We have already received grant funding from philanthropic sources and donations from other non profit organisations totalling $80,000. We are seeking support from government agencies, the private sector, and other non profits to get us to our goal of $140,000.
There is no minimum contribution – all are welcome. Our goal is to hit our funding target by the end of June 2022.

BETA TESTING

If you are a Community Housing Provider and an existing ASVB Subscriber who would like to be involved in beta testing the new Social & Green Benefits Calculator, please get in touch with Min on mins@asvb.com.au.

For further information about the Social & Green Benefits Calculator please download the flyer below.