State wants ideas from builders, developers to help solve housing crisis

Queensland builders and developers are being asked to help solve the housing crisis by bringing forward innovative plans to be funded by a $2bn Palaszczuk government war chest.

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Queensland’s builders and service providers are being called on to solve the state’s housing crisis with innovative plans for the Palaszczuk government to back with their $2bn housing war chest.

The government will open expressions of interest on Thursday for its mega Housing Investment Fund, which Premier Annastacia Palaszczuk doubled in size following The Courier-Mail’s Hitting Home series.

Treasurer Cameron Dick will also announce new details about the 50 Quay Street build-to-rent development in Brisbane, which will feature 470 homes and be delivered by Cedar Pacific.

The Housing Investment Fund was initially worth $1bn, but was boosted at last year’s Housing Summit to $2bn – with the money to now cover a wider range of projects.

The state government is calling on builders and service providers to deliver ideas to help secure more housing in Brisbane. File picture

Up to $130m per year in returns from the fund will be up for grabs for developers and housing providers to deliver thousands of new social and affordable homes across the state.

“The market invitation released today expands eligibility to allow stand-alone affordable housing projects to be supported under the Housing Investment Fund,” Mr Dick said.

“This is an opportunity for quality, market-ready housing projects on privately owned sites to be supported by the HIF to deliver more affordable and social housing for Queenslanders, either through new construction or the repurposing of existing dwellings.”

An artist's impression of the Cedar Pacific build-to-rent project in inner Brisbane.

The project at the site of the former Children’s Court will provide up to 250 apartments that will be available at discounted rent.

Expressions of interest for the Housing Investment Fund had initially been called for projects under the smaller $1bn scope. The new call out for projects will close by May 8.

Mr Dick will also reveal on Thursday that Cedar Pacific has been selected by the government to deliver the new build-to-rent project at the inner-Brisbane site of the former Children’s Court.

Construction of the development – which is part of the government’s pilot build-to-rent scheme – is set to kick off by the end of the year, and will open to residents by 2027.

“Up to 250 of these apartments will be available at a discounted rent subsidised by our government,” Mr Dick said.

Treasurer Cameron Dick will reveal details of a new build-to-rent project in Brisbane’s CBD. Picture Lachie Millard

“Build-to-rent projects are a great example of the type of developments the Housing Investment Fund’s new market invitation could support.”

Meanwhile, LNP housing spokesman Tim Mander hit out at the government’s announcement on Wednesday that it aims to have the Griffith University emergency accommodation built by mid-2023.

He pointed out the Premier had previously indicated in September last year that the housing would come online within about six months.

“Queenslanders who need a home deserve so much better,” Mr Mander said.