Stones Corner is set to witness the construction of 82 new social and affordable homes that will cater to low-income essential workers in the area.
The construction crews and heavy machinery have commenced work on this vital project, which is aimed at addressing a pressing need. The development will comprise 46 one-bedroom units, nine two-bedroom units, and the remainder as studio apartments, providing a range of housing options for the community.
The Stones Corner development marks the fifth project announced under a partnership between the Brisbane Housing Company (BHC) and QIC, all funded through the Palaszczuk Government’s signature $2 billion Housing Investment Fund.
So far, the HIF has approved over $479 million in project funding, with 1,600 homes in the pipeline, and an additional 71 proposals shortlisted for future assessment. In total, this initiative will contribute to the construction of more than 5,600 new social and affordable homes over the next five years.
Enhancing Local Communities
Construction is anticipated to span the next 18 months, creating opportunities for local workers and supporting the community’s growth. Minister for Housing Meaghan Scanlon highlighted the importance of institutional investors and super funds in the housing sector.
“Places like these will become homes for local workers, families escaping domestic violence, young people looking to get a good job or education, and a place for many people with a disability to live independently,” Ms Scanlon stated.
The Member for Greenslopes, Joe Kelly, praised the density of the development and its alignment with the surrounding neighbourhood. He noted the convenient location near public transport options like the Stones Corner busway station and the Buranda train station, schools, shops, and essential services, ensuring residents can connect with the services and supports they need.
“We know that our inner-city suburbs are growing, and that we need to provide more social and affordable homes to accommodate this growth,” Mr Kelly said.
Changing Lives with Quality Housing
Rebecca Oelkers, the Chief Executive Officer of the Brisbane Housing Company, expressed her enthusiasm for the project.
“Every single one of these new social and affordable homes will change the life of someone in housing need in Brisbane,” she said. “We are thrilled to get this inner-city development underway – we know that providing high quality, safe and affordable housing across our communities has never been more important. We look forward to contributing to the thriving and diverse community here in Stones Corner and to welcoming our new residents home as soon as possible.”
With the commencement of this project, Stones Corner takes a step closer to addressing the housing challenges faced by its residents, while also contributing to the broader vision of the Housing Investment Fund to make affordable housing accessible to those in need.
Published 26-Oct-2023
