Housing Investment Fund paves the way for more social, affordable homes in inner-Brisbane

• The Palaszczuk Government’s Housing Investment Fund (HIF) will see Brisbane Housing Company continue to partner with Queensland Investment Corporation to build a new social and affordable housing complex in Woolloongabba
• The project has applied for a Ministerial Infrastructure Designation (MID) to help streamline development approvals
• The HIF is part of a record $5 billion for social and affordable housing, the largest investment in Queensland’s history, to help deliver 13,500 homes

Queensland’s HIF is eyeing off more social and affordable homes in Brisbane’s inner-suburbs, the Palaszczuk Government has announced.

Brisbane Housing Company and Queensland Investment Corporation, supported by the government through the HIF, will look to develop up to 81 social and affordable housing units made up of a diverse array of studio, one-bedroom and two-bedroom apartments, subject to further due diligence.

It comes after the Palaszczuk Government earlier this week announce 71 projects, with the potential deliver over 3000 homes, would be shortlisted for HIF detailed proposal phase.

The Palaszczuk Government’s HIF was bolstered in 2022 to $2 billion, and provides subsidies, one-off capital grants and other support to encourage the development, finance and operation of social and affordable housing across Queensland.

The Woolloongabba project is seeking a MID to streamline development approvals.

This is the second project to apply for a MID under planning regulation changes made in October 2022 – the first in Brisbane – enabling eligible community housing providers to request a MID, so projects can get off the ground faster.  

The proposal includes the removal of existing dwelling houses on the site and the construction of an up to 15-storey (plus rooftop) building accommodating up to 81 social and affordable housing units.

Final height and dwellings numbers will be subject to the outcome of the MID and final due diligence.

The redevelopment of the site will also include a communal rooftop garden and recreational space, ground level and basement carparking and landscaping.

The site is within walking distance of the Buranda Village Shopping Centre, and Buranda Busway and Railway Station.

Quotes attributable to Minister for Housing Meaghan Scanlon:

“To tackle the impact national housing pressures are having here, we need to work with industry to look at new solutions and ways of doing things.

“This project is another example of how the Housing Investment Fund is securing more homes for Queenslanders.

“The HIF means that Queenslanders will be able to continue to access critical funding for housing projects not just now but into the future.

“It’s disappointing to see similar proposals by the Federal Government being blocked by the LNP and Greens – a proposal that would provide funding certainty into the future.

“This is the second MID proposal the Government has received, and I look forward to seeing more.

“This request was approved to progress through the MID process in a matter of weeks, meaning the provider can crack on with the next step of public notification.

“This process gives providers another pathway to seek fast approval for their social and affordable housing developments.”

Quotes attributable to BHC Chief Executive Officer Rebecca Oelkers:

“BHC’s vision is to create vibrant developments that provide safe, stable long-term rental housing for a variety of Queenslanders in housing need.

“Our new Woolloongabba development will deliver much needed social and affordable accommodation. Woolloongabba is undergoing major redevelopment as the hub for the Brisbane 2032 Olympic and Paralympic Games and demand is at a record level for affordable housing in the suburb, so our desire is to maximise the community benefit of this key site.

“Within walking distance of the Princesses Alexandra Hospital, it will offer cost-effective housing for low-income essential workers and others in nearby retail and the CBD, ensuring they can live close to their employment. 

“For Queenslanders seeking assistance through the State’s social housing register, it will offer modern, affordable accommodation that is well-located to transport and local services.”

Further information:

Community consultation opened on 19 June and will run until 18 July. To have your say, visit https://www.statedevelopment.qld.gov.au/mid-consultations.

ENDS

Media contact: Francis Dela Cruz – 0420 592 078