Townsville council announces changes to grants to encourage new developments

A revised program of grants and waivers of council charges for new and repurposed developments could result in a fresh wave of projects in Townsville.

A revised program of grants and waivers of council charges for new and repurposed developments is hoped to prompt a fresh wave of projects in Townsville.

Townsville City Council announced the changes to its City Activation and Jobs Growth policy last week, expanding it to include medium-density residential zones as well as the CBD.

Chair of the Property Council of Australia’s Townsville Chapter, Teri Humphreys, welcomed the latest commitment and encouraged her industry colleagues to participate.

“The updated incentives package will make investment in the city centre more attractive and build the early momentum we need to get things moving. I would really like to see our industry embrace these incentives,” Ms Humphreys said.

The Property Council’s Queensland Executive Director, Jen Williams, said the incentives would lift the industry’s confidence to invest in Townsville.

“The Property Council congratulates the Townsville City Council for its leadership and the renewed focus on the city centre,” Ms Williams said.

“A vibrant and busy CBD is a central component of any city. There are thousands of businesses in the city that rely on a consistent level of foot traffic and incentives such as these send a clear message that the city centre is open for business.”

A 2015 artist's concept for potential development of Townsville’s old railway station.

The incentives include fee waivers of up to $500,000 per project for new and repurposed development, grants to cover 50 per cent of rental costs up to $50,000 for the first six months of tenancy, grants of 50 per cent up to $30,000 per project or event for modernising buildings and activating spaces and waivers of up to 100 per cent of infrastructure charges for developments of “special or significant economic or social benefit”.

It is understood the council has received several inquiries from potential proponents who have engaged in meetings ahead of lodging formal development applications.

The council introduced a CBD Development Incentives Program more than a decade ago.

Also, a Townsville Waterfront Priority Development Area was declared over about 100ha of property adjacent to the CBD in 2014, aimed at encouraging mixed used development and supporting a population target of 30,000 people living in the inner-city.

The programs have had limited success but could now make the difference with an improved economy and renewed interest for projects in Townsville.

Colliers Townsville managing director Peter Wheeler said the city was starting to see the return of developers for retail and commercial projects after an absence of some time.

Resolution of issues like insurance costs was needed to boost activity in the multi-residential projects the city badly needed to help ease housing shortages, he said.

Originally published as Townsville council announces changes to grants to encourage new developments