In a move to tackle Perth’s ongoing housing crisis, the WA Government has acquired the former Fraser Suites complex in East Perth with plans to transform it into long-term affordable and social housing.
The $105 million purchase of the 12-year-old serviced apartment building — located on Adelaide Terrace in the Queens Riverside precinct — marks the single largest acquisition of its kind in the state’s history. Once known for its short-stay clientele and riverside views, the 236-apartment complex will be repurposed to accommodate Western Australians in housing stress, with tenancy managed by a not-for-profit Community Housing Provider.
The decision to repurpose a luxury accommodation tower into permanent rentals speaks to a shift in policy — one that’s pragmatic, fast-moving, and geared toward immediate impact.
“This investment represents the biggest one-off purchase of new housing for people on middle and lower incomes we’ve ever seen,” said Acting Premier Rita Saffioti. “It also represents significant value for money for WA taxpayers.”
The location ticks every box: close to public transport, health services, recreation, and the CBD. For those who have been priced out or pushed further from essential services, it’s a meaningful step towards housing equity.
Minister for Housing and Works John Carey says the conversion adds to a growing portfolio of creative solutions. “We are working to deliver housing on all fronts, including modular, prefabricated and tiny homes, and this project to convert short-stay units to permanent apartments is yet another example,” he said. “The cost per unit is well below the cost to construct an apartment and represents exceptional value for money.”
While the state’s short-stay incentive program has already returned nearly 700 homes to the long-term rental market, this latest announcement significantly adds to that number.
Philippa Boldy, Acting CEO of Anglicare WA, says the move is both necessary and welcome. “The demand for social and affordable housing in Western Australia continues to grow and will require an ongoing significant investment and this announcement is a positive step to provide safe, affordable homes for all Western Australians,” she said. “We need to pull on every lever we can to address imbalances in the housing market.”
