Build-to-Rent pilot project seeks industry interest
The Palaszcuk Government’s innovative Build-to-Rent Pilot Project is calling for Expressions of Interest to help deliver subsidised affordable rental housing.
Deputy Premier and Treasurer Jackie Trad today invited industry to register their ideas on how to deliver a large-scale Build-to-Rent development within 10kms of the Brisbane CBD.
“We know that housing affordability is a real issue for Queenslanders, particularly in the city where workers often struggle to afford rental properties near where they work,” Ms Trad said.
“We are acting to deliver more affordable housing across the whole community, as well as delivering jobs and supporting the local construction industry.
“Today’s announcement is an important step forward in our plan that will see $70 million invested in the Build-to-Rent market which ultimately is about providing more affordable options for hard working Queenslanders.
“Through Build-to-Rent we will work with the private sector to bring more affordable rentals to market in often more expensive, high-demand areas. A diversity of housing options is critical to ensuring every one has a place to call home.”
Housing Minister Mick de Brenni said today’s announcement further demonstrated the Government’s commitment to address the affordable housing shortage.
“Market participants are being invited to demonstrate their financial, operational and technical capability and capacity to deliver a large-scale Build-to-Rent development on a privately owned site,” Mr de Brenni said.
“Proponents who demonstrate these capabilities may be shortlisted to progress to the next stage of the competitive market process.
“Working with Industry to deliver Build-to-Rent developments allows us the opportunity to increase housing affordability and accessibility to key inner city workers such as nurses, hospitality staff, early childhood professionals and emergency services personnel.
“Delivering these affordable rentals will contribute to the Government’s Queensland Housing Strategy 2017-2027 target of over 1000 affordable homes by 2022.”
Mr de Brenni said the pilot project would provide lessons and inform future Build-to-Rent developments in Queensland, supporting this innovation of the housing market in Queensland.
Industry can learn more about the proposal and submit an expression of interest in the Build-to-Rent Pilot Project at https://www.treasury.qld.gov.au/growing-queensland/build-to-rent-pilot-project/