“BlueCHP has delivered more than 1,700 affordable housing dwellings”

$70 million deal announced with NHFIC

BlueCHP is thrilled to announce it has signed a deal with the National Housing Finance and Investment Corporation (NHFIC) to borrow $70 million. BlueCHP CEO Charles Northcote said it was a significant moment in BlueCHP’s 10-year history.

“This is the first time BlueCHP has been able to access cheap, long term debt.

“The NHFIC deal provides BlueCHP with long term certainty and will help us to build more affordable housing,” Mr Northcote said.

Mr Northcote also said the Federal Government, particularly Scott Morrison, who, as Treasurer, set us on the path to the NHFIC should be congratulated.

“I’d also like to thank NHFIC staff, particularly CEO Nathan Dal Bon and the NHFIC board, particularly Chair Brendan Crotty, who have worked very hard on this deal,” Mr Northcote said.

Under the deal with the NHFIC BlueCHP will borrow $70 million at an interest rate of less than 3% for 10 years. $55 million will refinance existing debt and $15 million has been provided for working capital, helping BlueCHP deliver more affordable housing.

“I’m thrilled the borrowing rate is less than 3%. This will set an important psychologically benchmark for the entire sector,” Mr Northcote said.

BlueCHP is a leading Tier 1 community housing provider with specialist teams located in NSW and Queensland. BlueCHP works with partners to design and deliver transformational housing projects, offering services from project inception to handover while also delivering their own affordable housing. Over its 10 years of operation, BlueCHP has delivered over 1,700 dwellings, retaining approximately 700, worth more than $300 million. BlueCHP currently houses 1,400 people, 278 of which house single women, 77 house indigenous Australians and 128 house single women with children.