Sixty applications have been greenlit as part of the first tranche of the Queensland Government’s Incentivising Infill Development Fund (IIDF).
The successful applications will share in $52 million from the $350 million fund to build homes close to existing services, public transport, schools and jobs.
In total, the first tranche of successful applications will deliver 1,872 homes from gentle density developments through to apartments from Cairns to the Gold Coast.
The fund – part of the Queensland Government’s Homes for Queenslanders plan – covers the cost of infrastructure charges and development application fees for well-located homes, particularly those with a focus on affordability.
By covering known infrastructure costs, the fund will also prevent these costs being passed on to homebuyers, promoting housing choice and improving affordability.
This fund is a direct outcome of the insights shared from both industry and local governments, bringing forward development activity while also ensuring councils remain funded for critical infrastructure to support necessary growth.
It joins a number of initiatives under the Homes for Queenslanders plan to unlock more homes in well located areas faster.
The government is now prioritising assessment of the remaining IIDF applications to enable announcement of the next tranche in August 2024.
Queensland Minister for Housing, Meaghan Scanlon, said that industry had projects ready to go, they just needed that little bit of extra support to make them shovel ready.
“That’s why we created this fund,” Minister Scanlon said.
“In just the first tranche, we’re bringing more than 1,800 homes forward.
“There are pockets of land right across Queensland close to public transport, jobs and schools that are underutilised. That needs to change if we’re to meet the demands for housing in Queensland.
“Not only is this fund unlocking that supply, it’s also stepping in to keep councils funded for essential infrastructure like water, parks and roads.”
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