Queensland Promises Over 1000 Social And Affordable Homes

The Queensland State Government has promised to deliver up to 1,200 social and affordable homes under a new commercial partnership as part of the state’s $1 billion Housing Investment Fund.

The new partnership between the government, Brisbane Housing Company and the Queensland Investment Corporation will support more than the 50,000 people waiting for social housing in the state.

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Seven projects will kickstart the initial stages of the partnership and is expected to begin construction progressively between 2023 and 2025.

This will create almost 600 new homes.

Treasurer Cameron Dick said Queensland has seen no commercial partnership of this kind with the initial seven projects generating over 200 construction jobs and overall worth $250 million.

“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,” he said.

“(This partnership) will see BHC leverage QIC’s strong track record of securing and managing institutional investment to deliver new social and affordable housing.

“Every Queenslander deserves a safe home to live in and a secure roof over their head.”

Minister for Communities and Housing Leeanne Enoch said strong working partnerships like this are vital for providing Queenslanders with more affordable housing options.

“The Palaszczuk 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.”

Last month the state government announced the first two projects from the Housing Investment Fund would be in Chermside and Redcliffe.

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