This article is from the Australian Property Journal archive
THE Queensland government is investing into a new priority growth area in Southern Redland Bay, with new infrastructure set to improve land supply and housing affordability.
The state government will invest $15 million to unlock over 5,000, addressing limits to land supply as part of their COVID-19 Economic Recovery Plan.
“Our strong health response to the COVID-19 pandemic has people moving to Queensland in droves,” said Steven Miles, deputy premier and minister for state development.
“This has put pressure on available land supply. That’s why, earlier this year I announced the Growth Areas Team, to help accelerate development and address land supply challenges to cater for Queensland’s booming population,” said Miles.
The government will deliver a $30 million wastewater treatment plant, with co-investors Lendlease, whose master planned ‘Shoreline’ community will be serviced by the plant.
“Our Government’s $15 million investment will mean we are able to continue to meet the demand of the growing Redlands population,” said Miles.
The $15 million in loan funding will come from the Building Acceleration Fund, which is part of the $3.34 billion Queensland Jobs fund, with the initial works on the plant will create around 30 jobs and 49 additional construction jobs.
“Lendlease anticipates over 662 construction jobs and supply chain jobs will be generated per annum over the 20-year development lifecycle of Southern Redland Bay,” added Miles.
The plant will also address concerns around population growth in South East Queensland, with the infrastructure and unlocked land supporting the Growth Areas program.
“The Growth Areas Team, along with Economic Development Queensland, has been hard at work partnering with local governments, industry and the utilities sector to accelerate land supply in SEQ,” said Miles.
So far, the Growth Areas program’s pilot site in Caboolture West is set to deliver 3,000 new lots to the market.
“This will complement an additional 3,091 residential lots recently approved in the Aura development within the Caloundra South PDA. These approvals will provide much needed land for new homes in the Sunshine Coast community,” added Miles.
Stage 1 works are scheduled to start later in the year, with the Redland City council set to operate and maintain the new plant.
