THE federal and state governments are teaming up with the private sector, community housing and major bank ANZ to showcase multiple partners working in concert to tackle Australia’s social housing and homelessness crisis with the largest affordable housing project in Queensland.
Works are kicking off at Queensland’s biggest social and affordable housing project, which will deliver 490 homes to Cairns targeting over 55s, and has secured a major backing from Housing Australia, the state government and the ANZ.
Prime Minister Anthony Albanese and Premier Steven Miles attended the sod-turning ceremony at the former Woree drive-in cinema site yesterday.
Housing Australia will provide a $175 million loan as well as a $31.25 million grant under the National Housing Infrastructure Facility Social and Affordable Housing (NHIF SAH) provided as takeout financing following completion of the development.
Further support will come through the Northern Australian Infrastructure Facility (NAIF), the Queensland government’s Housing Investment Fund (HIF) and major lender ANZ for the delivery of 245 social dwellings, 223 affordable dwellings and 22 specialist disability accommodation units.
The social and affordable housing precinct will consist of new energy efficient one- and two-bedroom homes aimed at housing eligible seniors seeking to downsize, with amenity such as landscaped gardens, picnic areas, barbecues, and playgrounds.
The Cairns development is the first modular homes project supported by Housing Australia with the precinct aiming to deliver low-maintenance and energy-efficient dwellings close to transport routes and amenities.
Modular homes are constructed in a factory offsite and then delivered and set up much faster than in a traditional build, and is in the housing planning Miles Queensland government.
“This is an example of what happens when governments work together to make a difference for the people who we’re proud to represent,” Albanese said in Cairns yesterday, ahead of flying to the United States.
“In the Senate, this week, we saw two attempts to have our Help to Buy scheme adopted. Now the No-alition of the Greens, One Nation, the Liberals and National Party, have all opposed that. Not because they’re opposed to the policy, but just out of spite in the Greens Political Party’s form. It is time that they stopped this nonsense,” he said, referring to the tough opposition the government has faced in Parliament to its Help to Buy scheme, following on from the stalling of its build-to-rent tax concession proposals and last year’s difficulties surrounding the $10 billion Housing Australia Future Fund (HAFF).
The Albanese government has just approved grants for more than 13,700 social and affordable homes across the country, marking the first deliveries of the HAFF.
The Cairns project is being delivered by Community Housing (Qld) Limited and Tetris Capital, with FCC Construction Australia and Modscape handling construction.
The project is targeting practical completion by the end of 2026. Once completed, and subject to satisfaction of certain conditions, Housing Australia’s funds will be released for the operational phase to substitute the funds from ANZ.
“We are pleased to support new social and affordable housing for hundreds of seniors in Cairns. The project brings together federal and state governments, private investment and the community housing sector to deliver much needed social and affordable housing that is well connected to local services,” Housing Australia acting CEO, Stuart Neilson said.
NAIF CEO, Craig Doyle said, “There is currently a major need for long-term social and affordable accommodation in Cairns. While NAIF does not build or develop property, we can help those who do, and we are pleased to help progress what will be an important project for the Cairns region.”
The development falls under the state’s Homes for Queenslanders plan that aims to deliver one million new homes, including 53,500 social homes, by 2046.
ANZ group executive, institutional, Mark Whelan said, “Affordable housing is an issue best addressed by partnerships between the public and private sectors”.
“We are ambitious when it comes to finding innovative solutions and helping the market to adapt and grow. We’re helping to change the market by delivering more of the right housing, in the right locations and at the right price point.”
