Growth
Since operations commenced in 2008 BlueCHP has grown its portfolio to 506 properties under rental. A further 859 properties are in the pipeline. Within the 859 there are a number of properties being transferred to BlueCHP, as a preferred growth provider by Housing Departments in NSW and the ACT. BlueCHP has set itself a growth target of 1500 dwellings by 2013.

BlueCHP was successful in obtaining the support of a number of recent Government initiatives in the form of financial funding dedicated to affordable housing. Recent expansion of BlueCHP is mostly attributable to the seed capital from our Members and our successful applications for funding initiatives of the Social Housing Growth Fund (Stages 1 & 2), and the Affordable Housing Innovations Fund. The National Rental Affordability Scheme (NRAS) coupled with internal equity funding has made it possible for us to obtain finance and maximise leveraging from our healthy balance sheet position.

BlueCHP has been innovative in the way it has achieved this growth with a mix of Government grants, debt and equity as well as the highest number National Rental Incentives under the National Rental Affordability Scheme (NRAS) achieved in NSW. 

Click here for further information on our property portfolio growth.

The 2009/2010 Financial Result saw a net profit before tax of $13,256,007. As at 30 June 2010 the total value of the BlueCHP assets increased to $71,728,075.

Next Steps
During the next year BlueCHP will continue pursuing growth opportunities which will include:

• Land acquisition and development construction projects near major centres using the leverage funds from our increased balance sheet and further National Rent Incentives (NRIs) from NRAS funding rounds;
• Participating in government tenders for community renewal and other growth projects;
• Extending our property development and facilities management services to other registered community housing providers;
• Growing our presence in the ACT;
• Exploring further partnership opportunities;  and
• Creating more opportunities in NSW by innovative use of the Affordable Housing State Environmental Planning Policy (ASEPP)

Beyond this period BlueCHP plans to:

• Expand the industry information and market/sector analysis part of the business to resource Members as a way of enabling them to strengthen their organisations
• Extend the company’s operations to other jurisdictions within NSW, and nationally;
• Continue diligently exploring opportunities to develop new housing through joint ventures, public private partnerships; and
• Develop affordable home ownership or equity share products.