SOCIAL enterprise Nightingale Housing says it is looking to bring its development model to Bendigo and will hold an information night in the city in late May.
The business has advertised that it is “actively on the hunt for sites in Bendigo” and “we’d love to hear from you about what opportunities you see in Bendigo”.
Nightingale builds cheaper housing by capping the profit at 15 per cent.
It also doesn’t spend money on marketing, real estate commissions or display suites and builds in sustainable features such as double glazing, insulation and solar panels.
The model also has a covenant that limits the owner to selling that property for the price paid plus the real estate growth in the area, according to Nightingale’s website.
The covenant is supposed to discourage flipping.
The purchaser is also asked for input in the design of the property to encourage them not to rent but to live in the residence.
The model has been used in housing developments primarily in Melbourne but Nightingale has also tested demand elsewhere in Australia.
Initial development requires investors.
The Bendigo Weekly contacted Nightingale for comment.
A City of Greater Bendigo spokesperson said representatives from Nightingale had briefed councillors.