The South Australian Government has established the $500 million Apartment Fast‑Track Fund Program (the Program) to accelerate apartment development and increase housing supply across South Australia.
Government-backed purchase guarantees are available for eligible off-the-plan apartment developments that may not yet meet financier pre-sale requirements. By helping projects satisfy financing requirements sooner, the Program aims to support earlier construction commencement and bring new apartments to market more quickly.
The Program is administered by the Department for Housing and Urban Development, on behalf of the Treasurer.
For full Program details and to apply visit the Program website.
To be eligible for consideration, developments will need to:
- be located within South Australia
- contain at least 20 dwellings
- have a valid development approval
- be capable of commencing construction within six months of acceptance into the Program
- demonstrate commercial viability independent of government support.
Developers must also demonstrate an established track record in delivering apartment developments, financial capacity, and the capability to successfully deliver the project.
Priority will be given to projects located in:
- Adelaide CBD
- North Adelaide
- the Port Road precinct.
The areas are highlighted on the map below.
Subject to assessment, the Program may provide guarantees for:
- apartments valued at up to $1.5 million per dwelling
- up to 50 per cent of dwellings within an eligible development
- a maximum guarantee value of $50 million per project.
The level of support available for each project will be determined through the merit-based assessment process, having regard to project viability, risk, portfolio diversification and alignment to overall Program objectives.
The Program operates through a multi-stage application process, with Application, Establishment and Facility Fees payable by participating developers.
Applications and Further Information
For full Program guidelines, fee information, Expressions of Interest and application information, visit the Program website.