The Albanese Government is supporting more social and affordable housing in Townsville.
Minister for Resources and Northern Australia Madeleine King said the Northern Australia Infrastructure Facility (NAIF) will provide a loan for around $40 million to build 81 new social and affordable housing units in Townsville.
The loan will fund construction of the Townsville Affordable Living Precinct, around 8 kilometres from the Townsville CBD, which is being developed by Hurst Holding Company Pty Ltd.
"The latest NAIF investment will address a pressing need for more affordable housing in Townsville and will ensure more people have access to a safe and secure home," Minister King said.
"The Albanese Government is working to address the challenges of affordable housing in the North, and I continue to work closely with the Minister for Housing the Hon Clare O'Neil to support new projects."
Assistant Minister for Northern Australia Senator Nita Green said the project would provide 21 social housing units and 60 affordable units for up to 240 people.
"The Albanese Government and NAIF continue to support communities, business and industry across North Queensland," Senator Green said.
"This NAIF loan will support more than 150 full-time equivalent jobs during construction and create seven ongoing positions - it is a true representation of what NAIF can deliver for the North."
NAIF loans have supported a range of infrastructure projects around Townsville, including funding for the North Queensland Cowboys High Performance Centre, more student accommodation for James Cook University, and projects for the Mater Hospital and the redevelopment of Townsville Airport.
NAIF has also supported around 490 social and affordable homes in Cairns, and more student accommodation in Darwin.
