Property Industry Foundation's Melbourne regatta to raise money for youth homelessness
The Property Industry Foundation (PIF) will kick off its 2020 calendar of fundraising initiatives this week with a sailing event in Melbourne that is intended to help fund the construction of accommodation for homeless young people.
The foundation is backed by some of Australia’s largest developers and has previously built homes for homeless youth in Victoria, NSW, and Queensland – including assisting with the $9 million redevelopment of the Frontyard youth refuge on Melbourne’s King Street last year.
The Melbourne regatta, sponsored by investment company Brookfield, is the first of three charity regattas scheduled for this year and will take place at the Royal Brighton Yacht Club on Friday, February 28.
PIF chief executive Kate Mills said it was not too late to get involved, either by volunteering or buying a ticket to attend the post-race soiree, which is open to the public.
“There are still tickets available,” Ms Mills said, adding that admission included a canape-and-drinks package.
The foundation is aiming to complete or commence work on “more than 40 bedrooms” for homeless young people this year, with all proceeds from the event assisting with that goal, according to Ms Mills. Typically, the event raises about $500,000, according to Ms Mills.
Funds raised at the regatta are furthered by in-kind donations by industry members during the construction phase of projects, including pro bono building work and donated materials.
Ms Mills said the foundation’s aim was to give stability to young adults during a critical phase of their development, not only by helping get them “off the streets” but also get out of transient accommodation options such as motels.
Senior vice-president at Brookfield Asset Management Chris Sprangers said the event was a great example of how the property industry could contribute to a significant social issue.
“We are so proud to sponsor the Melbourne Regatta. It’s an incredible opportunity to support an important issue that’s close to Brookfield’s heart and to bring the property industry together for a great cause and a great day out,” Mr Sprangers said.
Events in Sydney and Brisbane cancelled
The Melbourne regatta was to be followed by events in Sydney in April and then Brisbane in May. However, both have been cancelled because of the worsening coronavirus outbreak.
Ms Mills said while entry and participant fees were non-refundable, in line with the regattas’ cancellation policy, that money would still go towards the projects PIF supports for homeless youth, in addition to covering any event costs.
“This will enable us to continue building houses for young Australians who are without a roof over their head,” she said in an email to participants on March 16.
“These are the people that will feel the impact of the current health crisis the most.
“Thank you for your understanding and your support of PIF. Both are genuinely appreciated.”
Other events in the 2020 PIF fundraising calendar include StreetSLEEP events in NSW, Victoria and Queensland and the Tour de PIF cycling event.
This story was updated on March 18, 2020, to include the cancellation of the Sydney and Brisbane regattas.
