The Queensland Government plans to deliver more than 7000 new social and affordable homes over the next four years, with Expressions of Interests open for the Queensland Housing Investment Growth Initiative (QHIGI).
It will invest $2.9 billion to support better long-term housing outcomes for vulnerable Queenslanders, including $1 billion to establish a housing investment fund.
Queensland Premier Annastacia Palaszczuk said every Queenslander deservers to have a roof over their head.
“We’re investing more in social housing than any government in our state’s history to create jobs and give Queenslanders a place to live when they need it most,” Palaszczuk said.
“We know that more infrastructure means more jobs.
“Partnering with the private sector to deliver new infrastructure in Queensland is an important part of our Economic Recovery Plan.”
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Treasurer and Trade and Investment Minister Cameron Dick urged the property and housing sectors to come forward with projects to increase social housing and affordable housing across Queensland.
“All Queenslanders need the solid foundation of a safe, secure, affordable home to enable them to participate in our community and build a future for themselves and their families,” Dick said.
“I’m calling on the property sector, institutional investors, and local governments to team up with the community housing sector and bring forward new ideas.
“Our Housing Investment Fund is targeting delivery of 3600 new social homes and additional affordable homes in four years, as part of the Queensland Housing Investment Growth Initiative.”
Dick said leveraging co-investment and partnerships with the private sector through the $40 million in annual returns from the fund will unlock more opportunities for Queenslanders to access safe, secure housing.
“We’re looking for proposals that go beyond just providing shelter – we’re looking for solutions that deliver new or redeveloped accommodation with access to health, education and employment services for vulnerable Queenslanders,” he said.
“Continued investment in economic and social infrastructure is key to driving economic recovery, resilience and future prosperity for Queensland.
“The Housing Investment Fund builds on our recent success in leveraging private sector co-investment to deliver more affordable housing for Queenslanders through our successful Build-to-Rent pilot program.”
Communities and Housing Minister Leeanne Enoch said the release of the Housing Investment Fund EOI was just one component of the Queensland Housing Investment Growth Initiative, a coordinated capital investment program to increase the social housing portfolio by more than 7000 new homes over four years.
“The Queensland Housing Investment Growth Initiative is an important element of our Housing and Homelessness Action Plan 2021-2025 and is backed by $2.9 billion – the largest concentrated investment in social housing in Queensland’s history,” Enoch said.
“We’re also providing QuickStart Grants to community housing providers to accelerate construction of 2765 social homes, while the Help to Home initiative will provide 1,000 additional private rental outcomes to support emergent housing needs over the next two years.
“The Expression of Interest process will enable submissions for all three QHIGI initiatives and is designed to streamline applications and reduce the time and cost for proponents to submit their proposals.”
Interested proponents are invited to register on the QHIGI portal and download the expression of interest (EOI) form at qld.gov.au/HousingInvestment.