NAB backs modular housing for affordable solutions

Affordable housing provider Junction Housing and NAB collaborate on delivering modular housing solutions to address the housing crisis.

National Australia Bank (NAB) is supporting Junction Housing, a not-for-profit housing provider, in its mission to provide affordable housing using modular construction. According to a case study by NAB, with the housing crisis gripping Australia, organisations like Junction Housing are stepping up to address the pressing need for housing solutions. (main pic: Junction Housing to create a modular “Tiny Homes” campus as part of their community approach to help young people transition out of the care system.)

Maria Palumbo, CEO, Junction Housing.
Maria Palumbo, CEO, Junction Housing.

South Australian based Junction Housing CEO, Maria Palumbo, highlighted the severity of the housing shortage, emphasising the need for a collective effort to tackle the issue. “There is not one provider or not one area of the business community or the community itself that can fix this. The situation on housing needs a collective effort,” Ms Palumbo said.

NAB CEO Ross McEwan echoed this sentiment, recognising the critical role banks, governments, and non-profits play in addressing the housing crisis. “Housing is the biggest issue facing the country. Providing safe and liveable homes for a nation needs banks, government, and non-profits working well together,” Mr. McEwan said.

NAB CEO Ross McEwan and Andrew Irvine visit a Junction housing project in South Australia.
NAB CEO Ross McEwan and Andrew Irvine visit a Junction housing project in South Australia.

During a recent visit to Junction in South Australia, Mr. McEwan and Andrew Irvine, Group Executive Business & Private Bank, endorsed Junction’s innovative approach to new modular housing solutions, including a Tiny Homes campus housing project. Mr. McEwan emphasised the importance of modular housing in addressing the housing problem in Australia. “Modular homes can put a roof over someone’s head quickly and be built in areas where traditional construction is challenging,” he said.

Watch Junction’s modular housing story

Junction Housing aims to create long-term positive change for vulnerable communities, including young people transitioning out of the justice care system. Modular housing, including tiny homes, is seen as an opportunity in breaking cycles of disadvantage. Ms. Palumbo believes that modular housing is crucial for programs that support young people experiencing extreme disadvantage.

Mr. McEwan further emphasised the importance of planning reform and inclusionary zoning to address the housing crisis. “Housing is Australia’s biggest issue – it will continue to have a disproportionate impact on young and vulnerable Australians if we don’t get the settings right now,” he said.

NAB’s support is crucial for Junction Housing in creating new modular housing solutions. “The relationship with NAB is crucial to us. There is just no way we’re able to do anything without that support,” Ms. Palumbo said.

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