Director of Brickworks, General Property Trust and Dennis Family Holdings Brendan Crotty has been appointed the inaugural chair of the federal government’s National Housing Finance and Investment Corporation (NHFIC).
Mr Crotty was managing director of Australand from 1990-2007 as been a director of a number of property, construction and technology companies since.
“Mr Crotty will formally commence his appointment following passage of the enabling legislation for the NHFIC,” treasurer Scott Morrison said.
“He brings considerable financial acumen, business expertise and property sector experience to the NHFIC board.”
The NHFIC has been created to administer an affordable housing bond aggregator to provide cheaper and longer-term finance for community housing providers.
The appointment was welcomed by the community housing and property sectors.
PowerHousing chief executive Nicholas Proud said the appointment was a “significant step” in the government making good on affordable housing budget promises made last year.
“Our members are committed to continuing their work to deliver social and affordable housing for Australians and these measures will significantly boost our capacity to do this,” Mr Proud said.
“Our members are standing ready to work with Brendan Crotty and the full independent board of the NHFIC as it is announced and becomes operational.”
Property Council of Australia chief executive Ken Morrison said Mr Crotty brought significant experience to the role.
“Brendan Crotty is one of the most experienced business leaders in the Australian property industry,” Mr Morrison said.
“He matches a deep understanding of investment and business dynamics with a commitment to social outcomes, best reflected in his role as the inaugural chair of the Green Building Council of Australia.”