Growth and infrastructure funds to unlock land for housing
Strong population growth continues to drive demand for more diverse and affordable housing options across South East Queensland (SEQ) this is creating pressure for new land to be bought to the market in a timely way.
Two new funds have been introduced to help unlock new land for housing in areas experiencing growth pressures.
The $50 million Growth Acceleration Fund will provide low interest loans for accelerating the delivery of essential infrastructure such as roads, water supply, wastewater and stormwater in areas experiencing growth pressures in SEQ by unlocking land in these areas to contribute to much needed new housing options.
The $150 million Catalyst Infrastructure Fund (CIF) continues EDQ’s ongoing program of investment in PDAs and will provide low interest loans for accelerating the delivery of essential infrastructure, bringing forward development within Priority Development Areas (PDAs ) particularly in the greenfield locations.
In a number of PDAs, ongoing rapid delivery of urban land is becoming significantly constrained by the complexity and cost of infrastructure delivery. The CIF will help facilitate development industry and government partnerships, and provide early funding through low interest loans to unlock land urgently required for residential development.
Submissions for applications have now closed and those applications received are currently being assessed by the Department.
Additionally, in March 2022, the $210 million Growth Areas Compact (GAC) commitment was announced as part of the SEQ City Deal. These funds will support critical infrastructure in Caboolture West.
The GAC will realise a more coordinated approach to enabling infrastructure, such as water, sewerage and stormwater, telecommunications and transport, and it could also include electricity and gas supply, to support the delivery of affordable housing options in Caboolture West.
Details of this program will be developed in partnership between the Queensland Government, the Australian Government and Moreton Bay Regional Council.
Last updated: 22 Nov 2022