ASSISTANCE FOR GOLD COAST HOUSING COMPANY

Housing Minister Robert Schwarten today announced assistance of $15 million dollars over the next three years for the newly-formed Gold Coast Housing Company.

Mr Schwarten said the first part of the assistance would be more than $3.3 million to provide an additional 10 properties to further boost the service it provides.

“Gold Coast Housing Company is a not-for-profit charitable company formed in 2006 when the Department of Housing funded Gold Coast Vision Housing Limited and the Gold Coast Community Housing Association to amalgamate,” Mr Schwarten said.

“The aim of this amalgamation was so the new, larger company could better meet the needs of low income earners on the Gold Coast and respond to the enormous population growth in recent years, which has placed significant pressure on housing in the region.”

Mr Schwarten said average private rental rates on the Gold Coast had increased by more than 50% over the past five years, and more than 22,000 households were now experiencing housing stress.

“Clearly there is a need for innovative housing solutions to address this crisis,” he said.

“I am delighted that the Gold Coast City Council has grasped this opportunity by making $3 million of assistance available to the Gold Coast Housing Company over the next three years.”

Mr Schwarten also announced today an additional one-off grant of $30,000 to allow the company to employ a project worker to assist it to amalgamate with other housing providers in the area.

“This Queensland Government funding will assist the Gold Coast Housing Company to both increase its portfolio and broaden service delivery, and provide with a platform for growth into the future,” he said.