The opportunities, risks and possibilities of social impact investment for housing and homelessness

Muir, Kristy; Moran, Michael; Michaux, Fabienne; Findlay, Suzanne; Meltzer, Ariella; Mason, Chris; Ramia, Ioana; Heaney, Richard

doi:10.18408/ahuri-7110101

Cited by 12 publications

(23 citation statements)

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“… the effectiveness of not-for-profit delivery models (Milligan, Gurran et al 2009)  a triple bottom line evaluation of specific affordable housing project outputs (Wiesel, Davison et al 2012)  the suitability and potential of different affordable housing financing mechanisms and investment options (Lawson, Milligan et al 2012;Milligan, Yates et al 2013;Lawson, Berry et al 2014, Newell, Lee et al 2015Muir, Moran et al 2017)  affordable housing provider strategic positioning and business models (Milligan, Hulse et al 2013, 2015  the efficacy of affordable housing subsidy models (Rowley, James et al 2016)  the capacity of the affordable housing industry to expand (Milligan, Martin et al 2016;Milligan, Pawson et al 2017). …”

Section: Existing Researchmentioning

confidence: 99%

Paying for affordable housing in different market contexts

Randolph

Troy

Milligan

et al. 2018

Preprint

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iii AHURI AHURI is a national independent research network with an expert not-for-profit research management company, AHURI Limited, at its centre.AHURI's mission is to deliver high quality research that influences policy development and practice change to improve the housing and urban environments of all Australians.Using high quality, independent evidence and through active, managed engagement, AHURI works to inform the policies and practices of governments and the housing and urban development industries, and stimulate debate in the broader Australian community.AHURI undertakes evidence-based policy development on a range of priority policy topics that are of interest to our audience groups, including housing and labour markets, urban growth and renewal, planning and infrastructure development, housing supply and affordability, homelessness, economic productivity, and social cohesion and wellbeing. AcknowledgementsThis material was produced with funding from the Australian Government and state and territory governments. AHURI Limited gratefully acknowledges the financial and other support it has received from these governments, without which this work would not have been possible.AHURI Limited also gratefully acknowledges the contributions, both financial and in-kind, of its university research partners who have helped make the completion of this material possible.The researchers would like to thank the participants in the case study research for generously sharing detailed project information and spreadsheets, which made the project analysis and model building possible.Thanks also to: Emilio Ferrer (Sphere Company) for his advice on model design and scenario selection; industry experts who helped to validate the model inputs and design; and Dr Amity James (Curtin University) for her assistance with case study fieldwork. DisclaimerThe opinions in this report reflect the views of the authors and do not necessarily reflect those of AHURI Limited, its Board, its funding organisations or Inquiry panel members. No responsibility is accepted by AHURI Limited, its Board or funders for the accuracy or omission of any statement, opinion, advice or information in this publication. AHURI journalAHURI Final Report journal series is a refereed series presenting the results of original research to a diverse readership of policy-makers, researchers and practitioners. Peer review statementAn objective assessment of reports published in the AHURI journal series by carefully selected experts in the field ensures that material published is of the highest quality. The AHURI journal series employs a double-blind peer review of the full report, where anonymity is strictly observed between authors and referees. Copyright List of tables Executive summaryIn this study six recently completed affordable housing developments across Australia are analysed to ascertain how affordable housing project costs, revenues and subsidies interact to produce affordable housing.Using the project data, an interactive modelling tool is develop...

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Section: Existing Researchmentioning

confidence: 99%

Paying for affordable housing in different market contexts

Randolph

Troy

Milligan

et al. 2018

Preprint

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“…The report is not intended to be an account of all findings across the three Inquiry projects, but rather a synthesis of the overall insights when the findings from the projects are combined. As such, this report is supplemented by and should be read in conjunction with the individual project reports (Muir, Moran et al 2017;Sharam, Moran et al 2018;Heaney, Flatau et al 2017). …”

Section: Purpose Of This Reportmentioning

confidence: 99%

Inquiry into social impact investment for housing and homelessness outcomes

Muir

Michaux

Sharam

et al. 2018

Preprint

Self Cite

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iii AHURI AHURI is a national independent research network with an expert not-for-profit research management company, AHURI Limited, at its centre.AHURI's mission is to deliver high quality research that influences policy development and practice change to improve the housing and urban environments of all Australians.Using high quality, independent evidence and through active, managed engagement, AHURI works to inform the policies and practices of governments and the housing and urban development industries, and stimulate debate in the broader Australian community.AHURI undertakes evidence-based policy development on a range of priority policy topics that are of interest to our audience groups, including housing and labour markets, urban growth and renewal, planning and infrastructure development, housing supply and affordability, homelessness, economic productivity, and social cohesion and wellbeing. AcknowledgementsThis material was produced with funding from the Australian Government and state and territory governments. AHURI Limited gratefully acknowledges the financial and other support it has received from these governments, without which this work would not have been possible.AHURI Limited also gratefully acknowledges the contributions, both financial and in-kind, of its university research partners who have helped make the completion of this material possible. DisclaimerThe opinions in this report reflect the views of the authors and do not necessarily reflect those of AHURI Limited, its Board, its funding organisations or Inquiry panel members. No responsibility is accepted by AHURI Limited, its Board or funders for the accuracy or omission of any statement, opinion, advice or information in this publication. AHURI journalAHURI Final Report journal series is a refereed series presenting the results of original research to a diverse readership of policy-makers, researchers and practitioners. Peer review statementAn objective assessment of reports published in the AHURI journal series by carefully selected experts in the field ensures that material published is of the highest quality. The AHURI journal series employs a double-blind peer review of the full report, where anonymity is strictly observed between authors and referees. Contents List of tables vi List of figures viiAcronyms and abbreviations used in this report viii Glossary viii Executive summary 1Key points 1 Project context 2The study 2 Key Inquiry findings 3Key policy implications 8 Introduction 101. Table 1: Types of SII instruments and models that have been used to address housing and homelessness challenges 5 Table 2: Distinction between social finance, social investment, socially responsible investment and social impact investment 21 Table 3: SII market 23 Table 4: Types of SII instruments and models that have been used to address housing and homelessness challenges 30 Table 5: Some key risks of using SII for housing support and housing support services by group 39 (SIIT 2014; GIIN 2016). List of tables Key findings include: Australia...

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“…Further to the aforementioned policy challenges, the housing and homelessness system is a complex ecosystem, with failings and stress in one part of the system having consequences for other parts of the system ('Opportunities, risks and possibilities of SII' report; Muir, Moran et al 2017). For instance:…”

Section: Housing and Homelessness-an Interdependent Systemmentioning

confidence: 99%

“…Across the three projects, the Inquiry examined 158 publications and comprised a workshop with 32 expert diverse stakeholders, in-depth interviews with 70 key stakeholders, an online survey with 72 respondents across the financial, housing and SII sectors, and 3 case studies. Each project has published its own report, which accounts in detail for its focus, methodology, sample and research findings (Muir, Moran et al 2017;Sharam, Moran et al 2018;Heaney, Flatau et al 2017). In brief, the projects are:…”

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Inquiry into social impact investment for housing and homelessness outcomes

Muir¹,

Michaux²,

Sharam³

et al. 2018

AHURI Final Report

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iii AHURI AHURI is a national independent research network with an expert not-for-profit research management company, AHURI Limited, at its centre.AHURI's mission is to deliver high quality research that influences policy development and practice change to improve the housing and urban environments of all Australians.Using high quality, independent evidence and through active, managed engagement, AHURI works to inform the policies and practices of governments and the housing and urban development industries, and stimulate debate in the broader Australian community.AHURI undertakes evidence-based policy development on a range of priority policy topics that are of interest to our audience groups, including housing and labour markets, urban growth and renewal, planning and infrastructure development, housing supply and affordability, homelessness, economic productivity, and social cohesion and wellbeing. AcknowledgementsThis material was produced with funding from the Australian Government and state and territory governments. AHURI Limited gratefully acknowledges the financial and other support it has received from these governments, without which this work would not have been possible.AHURI Limited also gratefully acknowledges the contributions, both financial and in-kind, of its university research partners who have helped make the completion of this material possible. DisclaimerThe opinions in this report reflect the views of the authors and do not necessarily reflect those of AHURI Limited, its Board, its funding organisations or Inquiry panel members. No responsibility is accepted by AHURI Limited, its Board or funders for the accuracy or omission of any statement, opinion, advice or information in this publication. AHURI journalAHURI Final Report journal series is a refereed series presenting the results of original research to a diverse readership of policy-makers, researchers and practitioners. Peer review statementAn objective assessment of reports published in the AHURI journal series by carefully selected experts in the field ensures that material published is of the highest quality. The AHURI journal series employs a double-blind peer review of the full report, where anonymity is strictly observed between authors and referees. Contents List of tables vi List of figures viiAcronyms and abbreviations used in this report viii Glossary viii Executive summary 1Key points 1 Project context 2The study 2 Key Inquiry findings 3Key policy implications 8 Introduction 101. Table 1: Types of SII instruments and models that have been used to address housing and homelessness challenges 5 Table 2: Distinction between social finance, social investment, socially responsible investment and social impact investment 21 Table 3: SII market 23 Table 4: Types of SII instruments and models that have been used to address housing and homelessness challenges 30 Table 5: Some key risks of using SII for housing support and housing support services by group 39 (SIIT 2014; GIIN 2016). List of tables Key findings include: Australia...

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The opportunities, risks and possibilities of social impact investment for housing and homelessness

Cited by 12 publications

References 0 publications

Paying for affordable housing in different market contexts

Paying for affordable housing in different market contexts

Inquiry into social impact investment for housing and homelessness outcomes

Inquiry into social impact investment for housing and homelessness outcomes

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