Our story.
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Storey Residential Ltd is an independent not-for-profit housing provider registered as a charity with the Australian Charities and Not for Profit Commission.
Storey will provide affordable rental accommodation to low-to-moderate income earners providing secure, sustainable rental housing in quality, energy efficient housing developments.
Our vision is to create and make available over 1,000 homes for key workers over the next 5 years.
The why behind our story?
Australia is in the midst of an affordable housing crisis. Over 640,000 low-income Australian households (approximately 6% of the total) live in ‘housing stress’, driven by an insufficient supply of appropriate housing to meet housing needs.
This shortfall is a result of a range of factors including a rapidly growing population, rents increasing faster than wages and insufficient investment in social and affordable housing over many years.
Storey is seeking to make an ambitious and national impact on the affordable housing shortfall by harnessing investment in Australia’s burgeoning Build to Rent sector. The sector is forecast to grow over the long term to account for 3% of Australia’s housing market, equating to approximately 35,000 dwellings with an investment value of $290B2.
Our first chapter
Our Story will begin in 2025 where we will provide 15 affordable rental dwellings in Kensington and 20 in Box Hill, followed by a further 16 homes in South Melbourne in early 2026. These dwellings will be delivered within larger build to rent projects delivered by our foundation partners at Local: Residential.
