A deal that could see more than 200 properties in Queensland become affordable to the average family has been completed in the face of fierce opposition from developers and community groups.
Key points:Developers say the Bouscrest project will be the most affordable housing development in Queensland in decadesThe State Government is expected to decide within weeks on whether to award the $5 billion project to the Queensland Government for use as affordable housingThe Queensland Government is still finalising the details of the dealThe Government has until the end of the week to decide whether to give the $4.5 billion deal to developers to be used as affordable residential housing.
The project was the first of its kind to be awarded to the state.
It is now due to be sold to developers.
“The Queenslanders have always been one of the strongest economic generators in the world and they are a huge part of our success,” Queensland Premier Annastacia Palaszczuk said.
“This will be a wonderful contribution to the development of this wonderful state and the Queensland economy.”
She said the project would be the first in the country of its size to become affordable housing.
“I think it is really important for Queenslanders to be able to own a home, to be at home, and to be confident in their ability to build and build a strong community and be able be self-sufficient,” she said.
The Queensland government has already committed $3.4 billion to the project and is expected on Monday to announce whether it will award the deal to the State Government.
The deal is worth about $2.3 billion.
It will be sold at auction to the highest bidders.
It includes 1,400 hectares of land at Bousbead, near Bunnings in the Gold Coast.
It is the largest affordable housing project in Queensland’s history and will be developed by developer Triton Homes, based in Queensland, and developer Apartment Communities, based on the nearby town of Boulton.
The State government said it will use the proceeds to build 1,200 affordable homes, about $400 million of which will go towards affordable housing subsidies.
“What we have found is that when we give people the opportunity to buy, they pay less than what they would have paid if they had paid the full amount,” Queensland Housing Minister Tom Koutsantonis said.
Triton, which is the parent company of Apartment Homes, is the developer of two other projects in Queensland that have been approved by the State government for the sale to developers, and it is working with other developers on the project.
“We have had two other developments in the past two years that we’ve had the opportunity for to come forward to the Government and they’ve been extremely supportive of us,” Mr Koutsantonsaid.
“And I think it’s a real opportunity for us to do some really positive things, particularly with the affordable housing, because there are a lot of people who are living on this land, and they’re going to be going into that area.”
It’s really about making sure that they are able to get out and have a job, and then they can build their home.
“Tritons chief executive Stephen Gough said the developers would build the first affordable housing developments in Queensland for decades.”
These are some of the most important affordable housing projects in the state,” he said.”[The Bouscott] is a great example of what can be achieved in a very short period of time.
“Mr Gough acknowledged the Government had had to “play by the rules” in securing the project, but said he hoped the State would “find the money” to fund the project’s construction.”
There is no doubt that we will need some money to do this and that’s where the Government needs to find the money, but I’m confident that we can do this,” he added.
Mr Koutsantois said the State had already allocated $3 billion to affordable housing for Queensland, but had been unable to fund its use as a permanent home.”
But it’s an investment in Queensland,” he told reporters.”
As a nation, we have an enormous opportunity to change our way of life, our way to live, our ways of working, our ability to do business.
“So it’s going to require an enormous amount of commitment by the Government, by the community and by the people of Queensland.”
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