Main Image: Artist’s render of the development in Ethel St, Chermside (Queensland Government).
The Queensland Government has committed to deliver a pipeline of up to 1200 new social and affordable homes through a commercial partnership between community housing provider Brisbane Housing Company and the Queensland Investment Corporation.
Treasurer and Minister for Trade and Investment Cameron Dick said the projects were part of the Government’s concentrated investment in social and affordable housing, the largest in the state’s history.
“Every Queenslander deserves a safe home to live in and a secure roof over their head,” the Treasurer said. “There’s never been a more important time to plan and deliver the infrastructure that Queenslanders need, including social and affordable housing.
“When applications opened for the $1 billion Housing Investment Fund, we told the market we were seeking proposals which identified new solutions to deliver housing for vulnerable Queenslanders.
“This commercial partnership is a model that has not been seen before in Queensland. It will see BHC leverage QIC’s strong track record of securing and managing institutional investment to deliver new social and affordable housing,” he said.
“The initial stage will deliver half the planned total, through seven projects comprising almost 600 new social and affordable homes. These seven projects will have an estimated capital value of $250 million and support 225 construction jobs.”
Last month the government announced the first two projects from the Housing Investment Fund, located at Ethel Street, Chermside and Sutton Street, Redcliffe.
Minister for Communities and Housing Leeanne Enoch said strong working partnerships like this are vital for providing Queenslanders with more affordable housing options.
“The Queensland Government is backing the largest concentrated investment in social housing in Queensland’s history – $2.9 billion in funding, including $1.9 billion over four years for the new Queensland Housing Investment Growth Initiative,” Ms Enoch said.
“This will increase the social and affordable housing supply by almost 10,000 over the life of the Queensland Housing Strategy, including 7400 new social and affordable homes. This investment means we can house more vulnerable Queenslanders sooner.”
The Treasurer said community housing provider BHC was a welcome partner in the delivery of these new developments.
“BHC’s proud history of delivering housing for vulnerable Queenslanders is a testament to their dedication and expertise, and we’re excited about continuing our partnership with them,” he said.
“The state government will continue to work collaboratively with BHC and QIC to finalise sites and contracts for each project, with further sites to be announced as they are secured. The Housing Investment Fund is a long-term investment to drive new supply to support current and future social and affordable housing needs for Queenslanders.”
Construction of the first seven projects under the BHC and QIC partnership will commence progressively from 2023 to 2025.
Development proponents can register their interest via the Housing Investment Fund portal.