Social Ventures Australia (SVA) has reaffirmed its support for Nightingale and its innovative model of sustainable and affordable housing development.
‘We are supportive of recent governance changes outlined by the Nightingale team, namely plans to move to a not-for-profit structure, appoint an independent Chief Executive Officer and add additional members to the not-for-profit entity,’ said Alex Oppes, Director, Impact Investing, SVA, following recent changes to Nightingale’s governance.
‘We believe this will strengthen governance and serve Nightingale well as it continues to grow and develop its unique approach to addressing the lack of affordable and stable housing.’
SVA is a long-term supporter of Nightingale, having invested in 3 projects to date, and stands by the Nightingale model as one of the most promising grassroots efforts to improve housing affordability in Australia.
‘Nightingale Housing has evolved greatly in recent years, and like all organisations, will continue to evolve,’ said Oppes. ‘We support the refreshed not-for-profit model that puts residents first and better protects Nightingale’s social and environmental mission.’
SVA has supported Nightingale with investment in three projects, Nightingale 1 and Nightingale Village in Brunswick, and Nightingale Ballarat. These are sustainable homes, delivered to buyers at cost while providing a potential innovative, scalable development model to help address the lack of affordable and stable housing. The Nightingale Village and Nightingale Ballarat projects contain allocations for community housing and Key Contribution Workers such as nurses, aged care professionals, and those working in the not-for-profit sector.
Nightingale 1 was successfully completed in November 2017 and delivered 24 apartments into the market. Both Nightingale Village and Nightingale Ballarat projects are on track to complete towards the end of 2021 and the beginning of 2022.
SVA looks forward to continuing to work with Nightingale Housing as part of our broader commitment to ensuring an adequate supply of stable and affordable housing and services to ensure nobody is left without a home.
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