- More residential lots are being unlocked thanks to more than $359 million in Queensland Government infrastructure funding
- Deputy Premier has announced $21.2 million in additional infrastructure funding
- A total of 25,826 new lots have been unlocked across SEQ since 2021
The Palaszczuk Government has now provided more than $359 million since 2015, to provide critical infrastructure needed to develop residential lots and new communities.
The funding contributions have been made to three different infrastructure funds:
- Catalyst Infrastructure Fund (CIF)
- Building Acceleration Fund (BAF)
- Growth Acceleration Fund (GAF)
Deputy Premier Steven Miles announced an additional $21.2 million for the Catalyst Infrastructure Fund, which will go towards unlocking lots at Ripley Valley and Greater Flagstone.
Road works at Greater Flagstone and Ripley Valley will be funded, resulting in 13,000 and 8,900 lots respectively, becoming available in the area in the near future.
Total infrastructure expenditure proposed by developers for Greater Flagstone and Ripley Valley is expected to facilitate around 59,000 lots.
Examples of successfully funding projects include recently completed road works at Bahrs Scrub and Yarrabilba in Logan City, thanks to a $25.3 million grant from the Building Acceleration Fund and $15 million for water and wastewater infrastructure to facilitate the delivery of 2,500 homes in the new community of Waraba, formerly known as Caboolture West.
Quotes attributable to Deputy Premier Steven Miles:
"The Palaszczuk Government continues to address the impact of national housing pressures by providing critical infrastructure funding to unlock new residential lots.
"A total of 25,826 new lots have been unlocked since 2021 across South East Queensland, to provide more homes for Queenslanders.
"Since 2021, more than $328 million has been invested, or is allocated for investment, in new infrastructure through the Catalyst Infrastructure Fund, Building Acceleration Fund and Growth Acceleration Fund.
"The CIF is now a $171.2 million fund enabling the catalyst infrastructure that gets new, greenfield communities started, things like trunk roads, water and sewerage infrastructure.
"Palaszczuk Government funding support for essential infrastructure now totals more than $328 million since 2021. That includes $122.7 million for the Building Acceleration Fund and $35 million for the Growth Acceleration Fund.
"Our investment of $25.3 million – $10.3 million and $15 million respectively for the now completed road works on Bahrs Scrub Road and Yarrabilba Drive – is helping with the development of more residential lots and access to Yarrabilba Town Centre and a proposed new state primary school."
Quotes attributable to Housing Minister Meaghan Scanlon:
"By working in partnership with developers, local councils and utility providers we are now closer to bringing forward more new residential lots and community facilities.
"This investment in new lot infrastructure development complements our record $5 billion for social and affordable housing – the largest investment in Queensland's history – to help deliver 13,500 homes.
"We need all levels of government industry and organisations to help address the impact national housing pressures are having in Queensland, and it's expected critical infrastructure projects funded by the BAF alone will unlock more than 11,700 residential housing lots in South East Queensland.
"More infrastructure projects are on the drawing board for these three funds so we can continue to roll out the critical infrastructure that is laying the foundations for new Queensland communities."
Background information:
Catalyst Infrastructure Funding is helping to unlock land for housing in areas experiencing growth pressures, by providing low interest loans for accelerating the delivery of essential infrastructure within Priority Development Areas (PDAs).
The Building Acceleration Fund is a Queensland Government initiative to accelerate economic recovery through investing in infrastructure that unlocks development, generates construction activity and creates long-term employment. The fund was created in 2020 and $122.7 million has been announced for nine projects.
The Growth Acceleration Fund supports the delivery of essential infrastructure such as roads, water supply, wastewater and stormwater, which is required to unlock land for housing in high-growth areas of SEQ.
