Common Equity Housing SA Ltd (Common Equity) was officially opened in 2012 as a non-government, not-for-profit organisation and Community Housing Provider (CHP). The organisation has evolved over the past 7 years and is well positioned to continue to grow and support member organisations and direct tenancies.
A snapshot of the key milestones follows:
2019 Achieved Tier 2 status with the National Community Housing Register, which means the organisations is recognised
2019 In June, two more housing co-ops joined as members ISHA with 13 properties in three pockets in the hills, eastern and southern areas and PEACH with 17 properties in the inner northern metropolitan area.
The consistent growth of member organisations and properties has strengthened Common Equity’s overall sustainability and enabled the organisation to initiate redevelopment projects and to apply for Tier 2 status under the Community Housing Regulatory System.
2018 As a result of Common Equity’s clear focus on supporting and enabling housing co-ops to flourish in South Australia two new member organisations have joined as members. Paris Flat Housing Co-op, located in the Bowden and Brompton area, have 30 properties.
In addition, Acre Housing Co-op joined as a member organisation and their 8 cluster properties are in Adelaide CDB
2017 In February, Common Equity unveiled a new direction as it seeks to consolidate its position in the sector with the appointment of a new Chief Executive Officer, Angela Carey, who brings a renewed focus and vision to the business. Angela, who has worked in the housing sector for more than two decades – mainly in finance – said she aimed to grow and develop the organisation by establishing stronger relationships across the sector and building a more sustainable financial platform.
Along with its renewed focus, the organisation has also undergone a brand refresh, unveiling a modern and stylish logo.
2016 In May, a small seven house co-operative had chosen to wind up and the tenants and properties were transferred to Common Equity and becoming directly managed.
2015 In March, two of the founding housing co-operatives voted to exercise their option to terminate their membership of Common Equity.
2014 Three more housing co-operatives transferred their properties to Common Equity, and by May 2014, Common Equity had nine Member housing co-operatives and 151 properties on its books.
2013 The office relocated to Thebarton in early 2013 and Common Equity’s operations were consolidated, with endeavours made to expand its housing co-operative membership.
2012 In January 2012, the first staff, the CEO and Finance Officer, were employed, with Common Equity’s office initially located at 310 Tapleys Hill Road, Seaton. By the end of February 2012, with all six Property and Services Agreements signed, 121 properties were transferred to Common Equity and business officially began on 1st March 2012.
2011 In mid-2011 an interim manager was appointed, and the first six housing co-operatives passed Special Resolutions agreeing to transfer their properties to Common Equity and enter into a Property and Services Agreement to receive services and support.
2010 On the 5th of August 2010, Common Equity’s first Member Directors were elected. By October 2010 Common Equity registered as a company with ASIC and in December the first Technical Directors had also been appointed.
2009 With support from Housing SA., CHCSA developed a business case for the establishment of Common Equity. Once the plan was accepted and approved by the State Government, Common Equity’s Constitution and Property Services Agreement were drafted and finalised.
2008 During 2008, the common equity model emerged as the preference among both the community housing sector and the State Government. The Community Housing Council of South Australia (CHCSA) formed a Steering Committee to investigate this model further.