This is a tricky one!
In the sentence you quote it would have to be 'the need for + noun' = requirement.
It is often used with 'there is etc.', or is itself the subject or object of the sentence.
e.g. There is an urgent need for more housing in this area.
The need for more housing is obvious.
The Council denied the need for more housing.
not I have a need for a new coat.
'Need of + noun' has more the sense of the lack of something, and has a person or thing as its subject, usually with the verb 'to be'.
e.g. He is in deperate need of a new coat.
The house is in need of total refurbishment.
I hope this helps! I'm sure other members will clarify and expand if necessary!
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