HOUSING Australia is investing $300 million into Brisbane Housing Company’s delivery of up to 604 new homes in South East Queensland.
The dwellings will include studio, one- and two-bedroom units, with 285 social homes, 294 affordable homes and 25 market rental homes built across Redcliffe, Stones Corner, Toowoomba, Woolloongabba, Southport and two locations at Chermside.
These dwellings will be funded through Housing Australia’s $300 million, which includes a $280 million loan via the Affordable Housing Bond Aggregator (AHBA), with a $16 million loan from National Housing Infrastructure Facility Social and Affordable Housing (NHIF SAH), and a $4 million grant via the NHIF SAH for construction in Redcliffe.
This is in addition to financial support from the state government’s Housing Investment Fund (HIF) and up to $150 million from Australian Retirement Trust (ART).
“This is another great example of the importance of collaboration to deliver on our purpose to improve housing outcomes for Australians,” said Scott Langford, CEO at Housing Australia.
“Housing Australia’s senior debt, State funding under the HIF, and institutional capital from an Australian superannuation fund (ART) will further increase the supply of social and affordable housing at scale in Queensland.”
With BHC to also benefit from an estimated saving of up to $51 million in interest and other fees during the 15-year loan tenor.
“BHC is incredibly proud to be working with Australian Retirement Trust, the Queensland Government and Housing Australia to create an innovative approach to financing, which will deliver life-changing homes for Queenslanders in housing need,” said Rebecca Oelkers, CEO at BHC.
“Australian Retirement Trust is proud to be involved in such an important investment to help provide more social and affordable housing across Queensland, while also supporting us to deliver strong long-term investment returns for our close to 2.4 million members,” said Ian Patrick, CIO at Australian Retirement Trust.
The social housing component will target housing for single women with children, young people; Indigenous Australians and tenants aged 55 and over. While the affordable housing will prioritise key worker residents.
