Dual funding invests in urgent infrastructure
Deputy premier says 'by providing funding to get the vital infrastructure in place, the builders can get building'.
A BILLION dollar investment in vital infrastructure is set to fast-track delivery of thousands of homes across Queensland.
The Federal and Queensland Governments are calling on developers, councils and utility providers to bring forward infrastructure projects that can unlock development-ready land and accelerate the delivery of more than 50,000 new homes, including more than 20,500 for first home buyers.
Earlier this year, the Queensland and Federal Governments struck a $2.4 billion deal to support home-unlocking infrastructure across the Priority Development Areas of Mount Peter, Southern Thornlands and Waraba, as well as other potential new growth areas in Queensland.
The joint initiative supports essential road, water, sewer and other infrastructure and is designed to overcome critical constraints that can prevent new homes from being delivered.
Eligible applicants can now apply to Economic Development Queensland for grants and Commonwealth Government-backed interest-free loans to help deliver these projects.
The launch of the portal is the next step in delivering the Federal Government’s election commitment to help build 100,000 homes for first home buyers, in partnership with state governments and industry.
This is part of the Queensland Government’s commitment to deliver one million homes by 2044.
The fund combines $399 million in Federal Government grant funding, matched by a Queensland contribution, with nearly $1.6 billion in Federal Government-backed interest-free loans.
Deputy premier Jarrod Bleijie said the market process would help identify the next wave of infrastructure projects needed to unlock housing supply.
“Queensland needs more homes and fast but they can’t be delivered without the roads, water and sewer infrastructure needed to support growing communities,” Bleijie said.
“Availability equals affordability and by providing funding to get the vital infrastructure in place, the builders can get building.
“This is an opportunity to secure grant or interest-free loan funding to deliver the major infrastructure that may otherwise hold back housing delivery.”
Clare O’Neal, federal minister for housing, said this deal is backing tens of thousands more homes for Queenslanders to buy – with no competition from investors.
“We’re investing in the boring but essential infrastructure that help us unlock more homes for Queenslanders, because the more homes we build, the more affordable housing becomes,” she said.
