Queensland government partners with Brisbane Housing Company and QIC to deliver 1200 social and affordable homes
Up to 1200 social and affordable homes will be delivered in Queensland under a new commercial partnership.
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Up to 1200 social and affordable homes will be delivered in Queensland under a new commercial partnership that will leverage the Palaszczuk government’s $1bn Housing Investment Fund.
As more than 50,000 people wait for social housing, the government will unveil the new partnership between the Brisbane Housing Company and the Queensland Investment Corporation on Monday.
Seven projects will be delivered in the initial stages of the partnership, with construction to kick off progressively between 2023 and 2025 – creating almost 600 new homes.
Treasurer Cameron Dick said no commercial partnership of its kind had been seen before in Queensland, with the first seven projects to be worth $250m and support 225 construction jobs.
“When applications opened for the $1bn 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.”
The partnership is set to deliver an eventual pipeline of up to 1200 homes – which will form part of the government’s pledge to deliver 7400 new social and affordable dwellings by June 2025.
The sites of the first seven projects are yet to be determined, with the Treasurer saying they will be announced once they are secured.
The announcement of the partnership comes ahead of Tuesday’s state budget, with stakeholders calling on the government to boost their already record investment.
The government established the $1bn Housing Investment Fund in last year’s budget in a bid to drive the supply of social and affordable housing in Queensland.
The government announced earlier this year that the first two projects to be delivered under the fund would be built at Ethel Street in Chermside and Sutton Street at Redcliffe.
According to the latest publicly available figures, there were 50,301 people on Queensland’s social housing register as of June 30 last year.
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