Sydney developer admits renting 'affordable' apartment to staffer
A Sydney property developer admits to allowing a staff member to live in one of its north-shore affordable housing properties, in an apparent breach of planning conditions now under investigation by the local council.
A major Sydney property developer, Hyecorp, has admitted to breaching planning conditions by renting an affordable apartment to a staff member. The development is located in Willoughby, and the apartment was intended for affordable housing. Hyecorp claims the tenant qualified for the affordable housing and the unit was leased at the appropriate rates.
However, the company acknowledges it did not manage the unit through a registered community housing provider as required. New affordable housing laws passed by the NSW government in 2024 are yet to be implemented, despite being described as a "crackdown" on developers who misuse affordable housing. The state government's Housing Minister, Rose Jackson, stated that the reforms would be in place by the end of 2025.
Willoughby City Council is responsible for enforcing the conditions of consent for the development, but the matter remains under investigation. Hyecorp's co-managing director, Stephen Abolakian, has notified the council of the breach and plans to return management of the unit to a registered community housing provider. The staff member involved in the matter faced significant personal and financial challenges, and Hyecorp offered the apartment as a solution.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
