The National Housing Finance and Investment Corporation (NHFIC), together with the Queensland Government and BlueCHP, have officially completed a $22.6 million social housing apartment complex in Brisbane.
Constructed between 2021-2023, the 6-storey development in Windsor is made up of 42 two-bedroom apartments, each with a private balcony or patio, communal open spaces and parking.
Located within five kilometres of Brisbane’s central business district (CBD), the apartment complex is close to public transport, primary and secondary schools, local parks, sporting facilities and employment opportunities.
The apartments will provide homes for Queensland households from the social housing register, including job seekers and single-parent families with a child under 12. The first tenants started to move in during May 2023.
NHFIC has provided funding of $2.05 million through the Affordable Housing Bond Aggregator (AHBA) in an agreement under the Queensland Government’s Partnering for Growth initiative. The Queensland Government has provided $20.57 million in capital grants and BlueCHP will own and maintain the apartments on a long-term basis.
Affordable and safe
Minister for Housing Julie Collins said the project will put a roof over the head of those people who need it most.
“More Queenslanders will have a safe, affordable place to live, thanks to this collaboration between the Federal and State Governments,” said Minister Collins.
“This is the kind of innovative, affordable rental project that could be funded by our $10 billion Housing Australia Future Fund, the single largest investment in social and affordable housing by a federal government in more than a decade.”
NHFIC CEO Nathan Dal Bon said the partnership allowed for more affordable housing to be developed.
“NHFIC is pleased to support BlueCHP with the supply of more community housing under the Partnering for Growth initiative, so more Queenslanders have a safe place to call home,” said Dal Bon.
“Through this innovative partnership, BlueCHP is able to access cheaper, longer-term financing from NHFIC that will allow them to direct more funds towards building homes for those in our community who need it most.”
BlueCHP CEO Charles Northcote said the project was both innovative and cost-effective.
“This project at Windsor, and its companion building at Lutwyche, are great demonstrations of BlueCHP’s ability to establish innovative financial structuring to deliver pragmatic affordable housing solutions, on time and to budget, for people in need across Australia. BlueCHP applauds the Qld State Government and the NHFIC for their leadership and spirit of partnership,” said Northcote.
Article source: thepropertytribune.com.au