Alternative asset manager Jameson TTB and ANZ fund NDIS housing project

Real estate private equity firm Jameson TTB has partnered with ANZ to deliver a disability housing project in Melbourne’s south-eastern suburbs.

Construction on the $17 million four-level building designed for disability housing is set to commence this month and is expected to be completed in April 2024. 

Jameson is funding this NDIS project to help meet the growing demand for specialist disability accommodation (SDA) through its $100 million Jameson Special Situations Fund (JSSits), which invests in a diversified portfolio of hybrid-credit opportunities in sectors including social infrastructure such as childcare, seniors living and healthcare.

ANZ’s goal is to fund and facilitate $10 billion of investment by 2030 to deliver more affordable, accessible, and sustainable homes to buy and rent in Australia and New Zealand. To achieve this target, ANZ is working closely with its customers, supporting innovative models that can be replicated, scaled-up and delivered to market.

SDA housing, a sub-sector of the government-funded NDIS program, has grown into a $2.5 billion asset class in just five years, and the Federal Government has committed to providing $700 million a year towards SDA housing payments^. The number of active participants requiring SDA has increased by 15 per cent annually over the past three years, to 21,000 at present.

The project is designed for medium-term accommodation (MTA), which provides temporary transitional housing for NDIS participants while they wait for their permanent home to become ready or available for use, and SDA – housing for those with extreme functional impairment or very high support needs. It comprises 13 MTA studio apartments and eight two-bedroom and two-bathroom SDA apartments, in addition to support offices, communal dining and activity areas. Additionally, each level has a dedicated onsite overnight accommodation studio apartment to better serve support staff and nurses.

Jameson and ANZ have partnered with an established sector-specialist developer to deliver the project.

Nick Browne, Director of Jameson TTB, says: “We are pleased to continue supporting the NDIS housing sector and work alongside experienced partners in the space to help meet the growing demand. There is an undersupply of adequate specialist disability housing and the sector has largely been underfunded, with few financial institutions investing in this space.

“It is great to be working with ANZ again to deliver this much-needed housing for the community. Our shared values and goal of providing more disability accommodation comes at an opportune time. The private sector is well-equipped to address the shortfall in the NDIS sector. Locally, our new project will support the existing medical infrastructure in the surrounding area.

“At Jameson TTB, we are committed to providing better housing outcomes and opportunities for those needing specialist disability accommodation. We are excited about our future in funding more NDIS projects and working with more NDIS providers and developers to deliver more housing to address the needs within Australia. The profile of this sector is closely aligned to the ESG values of the firm.”

Cindy Arthur, Acting Head of Health at ANZ, says: “ANZ is committed to helping improve the availability of accessible housing options for Australians and we’re proud to support a project that will deliver much needed accommodation options for people living with a disability.”