Lucy Turnbull wants 10% of rezoned land in Sydney to be low income housing

Photo: William West/ AFP/ Getty Images.

Under new “district plans” proposed by the Greater Sydney Commission, the new planning agency headed by Lucy Turnbull, 5-10% of land rezoned for higher densities in Sydney will be slated for low income housing.

The change to the city’s planning laws is aimed at combating the lack of affordable housing in Sydney and assist people either moving out of government-provided social housing, or those saving to buy their own home.

“We need strategic planning that will achieve this, at the same time as promoting greater overall affordability by increasing housing supply to accommodate our growing population. Getting that balance right is very important,” a spokesperson for the planning body told the Sydney Morning Herald.

Under the “inclusionary zone scheme”, very low income households will be classified as those earning less than $42,300 a year, and low income households as those earning up to $67,600 per year.

Other major international cities to have set similar targets include New York, which is aiming to create 50% affordable housing in new projects.

The Greater Sydney Commission will consult on the draft district plans, which will be released next month, through 2017.

The SMH has more.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.