Case studies

Unity Housing Company Limited - $38 Million

NHFIC’s financing has helped Unity Housing Company Limited (Unity) meet its SA Government Stock Transfer Program obligations, delivering more affordable and social housing.

Front view of a grey, white and brick apartment block

Unity is the largest community housing provider in South Australia and provides safe and secure affordable and sustainable housing solutions to vulnerable people and people on low incomes, particularly those living with disabilities or experiencing homelessness. Unity currently owns 1,200 dwellings and manages around 3,000 dwellings which house over 4,500 people.

The AHBA loan has enabled Unity to refinance existing debt and a working capital facility. The loan will be used to help fund the construction of its development pipeline relating to the SA Government Stock Transfer Program. It is estimated that NHFIC’s finance will save Unity at least $3 million in interest and other costs, potentially funding the construction of 10 additional dwellings over the 10-year term of the loan.

NHFIC’s long-term and more affordable fixed financing is vital in supporting Unity to maintain and deliver incremental new social and affordable housing in South Australia.

“Unity Housing’s ability to invest in future housing projects with certainty. has increased dramatically with NHFIC’s long term, low cost finance.”

 Matthew Woodward, CEO Unity Housing


Affordable Housing Outcomes

The purpose of the loan is to increase affordable housing supply and it will achieve this by the following outcomes:

  • Existing dwellings: Refinancing over 400 social and affordable dwellings
  • Potential additional dwellings: Enabling potential construction of 16 new dwellings
  • Anticipated interest savings: Around $3 million over the 10-year loan term
  • Possible outcomes from interest savings: With the potential cost savings it is anticipated that Unity could develop an additional 10 dwellings (assuming $330k construction cost) over the term of the loan or fund community programs for their tenants.