Smart home monitors your every move and then uses data for science
Video sensors in your apartment that determine why you fall over, bed sensors that measure your sleep quality and mirrors that monitor whether you're developing health conditions could all become features of Sydney housing.
You'll live in one of these "smart home" units while a "living lab" sits at the bottom of your apartment block, collecting your data for medical research around-the-clock - but subsidising your rent in the process.
This is the vision of architects Joe Colistra and Nilou Vakil, who are one of seven finalists who on Friday will receive a $20,000 grant from the City of Sydney to further develop their concept for affordable housing in Sydney.
Lord Mayor Clover Moore said the city's current approach to affordable housing, which involves selling land to providers at discount rates, is "simply not enough".
"In addition to sustained investment in social and affordable housing by state and federal governments, we need new ideas to increase affordable housing supply," she said.
Designer Eddie Ma, a co-founder of spatial design practice Vigilanti who grew up in Waterloo's social housing, sees the solution to Sydney's affordable housing crisis in reinventing its finance and ownership models.
He is a finalist for his "equity housing model" which caters for three types of occupant - 20 per cent social housing, 20 per cent rental and 60 per cent leasehold ownership - while the ownership of land itself remains in public hands.
Under the model, rental prices for housing stock are set against the median income, not market prices, which Mr Ma believes would make housing "truly affordable" and protect it from market volatility.
Residents could also have their rent adjusted incrementally as their income increases, encouraging lower earning residents to increase income without fear of losing housing eligibility, and they could move up to a leasehold ownership later in their tenancy if they earn more.
The rental payments would cover the building's maintenance costs, while leasehold owners contribute to development and construction costs.
In this way, Mr Ma believes the model covers all the buildings' costs and eliminates the need for government subsidies.
"Our focus is to deliver affordable, high quality, permanent housing for more people in need," Mr Ma said.
"Socially minded impact investors could invest in projects with a capped return and offer housing under a leasehold ownership for a lifetime lease agreement, as opposed to perpetual ownership."
The community can provide feedback on the seven shortlisted concepts as part of the city’s consultation.