Affordable housing boost for Brisbane

Completion of a new 73-unit residential by Brisbane Housing Company (BHC) has boosted affordable housing availability in Brisbane. 

Housing and Public Works Minister Bruce Flegg today opened the development at Linton Street, Kangaroo Point.   

Dr Flegg said the BHC’s $17.5 million project would help to address the shortfall in housing supply.  

“With around 27,000 applications on the housing register, we need to make sure housing supply matches the needs of our changing population,” he said. 

“The development includes studio apartments and one and two-bedroom units, which are suitable for seniors and people with disabilities.

“Inner-city housing is in high demand and these units are a step forward in providing more accessible and affordable housing options.” 

Dr Flegg commended the partnership between the Queensland Cricketers’ Club and BHC.  

“The transfer of land from the Queensland Cricketers Club to BHC in return for six units within the development, allowed the successful delivery of this development which caters for the needs of owners, renters and investors,” he said.

 BHC Chairman John McAuliffe said Century Apartments was a very important project for the Company and represented a blueprint for future affordable housing developments.

 “This is the first project to be delivered by way of a development agreement with another not-for-profit, the Queensland Cricketers Club. 

 “It shows what can be achieved when two organisations like ours come together, with the support of all levels of Government and strong backing from the private sector,” he said.     

 More than $6.1 million in funding was provided from the Australian Government’s Nation Building – Social Housing Initiative for this project.

 Dr Flegg said the Australian Government’s scheme provides annual, financial incentives for investors to purchase new housing that must be rented at no more than 80 per cent of the market rate.

“With 11,283 approved incentives, Queensland has the largest share of all states and territories.  To date, 3,286 affordable rental properties have been delivered across the state,” he said.

 Dr Flegg said the Queensland Government is also looking at ways to reform the social housing system in Queensland.

 “We need to work with the community and business sectors to provide well-managed, affordable housing that is part of a financially viable housing system," he said.

 “Projects like these prove that improved affordable housing options can be delivered through a collaborative approach.

 “BHC is a leader in this field, and I urge other developers to get on board and see what can be achieved to make housing more affordable.

 “Partnerships like this help to fill the gap in affordable housing, and ensure we have diverse communities where all Queenslanders have a place to live.”

 [ENDS] 26 October 2012

 Media Contact: Graeme Hallett 0408 763 671