Housing Australia and super fund Australian Retirement Trust will invest in the delivery of 604 new affordable and social housing across South East Queensland, with the support from state government.
On Tuesday, Housing Australia said it will inject $300 million, and ART up to $150 million, into community housing provider Brisbane Housing Company (BHC), alongside the Queensland Government’s Housing Investment Fund.
Housing Australia’s funding will include a $280 million loan via the Affordable Housing Bond Aggregator (AHBA), a $16 million loan via the National Housing Infrastructure Facility Social and Affordable Housing (NHIF SAH), which will predominately be used as acquisition financing following completion of the developments. There is also a $4 million grant via the NHIF SAH being used to support the construction of homes in Redcliffe.
The new homes will comprise of studio, one and two-bedroom units across 285 social, 294 affordable and 25 market rental homes. They are being built across seven locations in South East Queensland; Redcliffe, Stones Corner, Toowoomba, Woolloongabba, Southport and two locations at Chermside.
The social housing units will aim to provide housing for single women with children, young people; Indigenous Australians and tenants aged over 55; whilst the affordable housing will prioritise key workers.