One of Australia’s largest superannuation funds, Australian Retirement Trust has announced it will invest up to $150 million as part of the QIC-BHC Consortium’s recently announced program to deliver up to 1,200 new social and affordable homes in Queensland.
Rebecca Oelkers, Chief Executive Officer of BHC, who will develop, own and manage the new homes, said, “This program is an exemplar of how state governments and institutional investors can work together with the community housing sector to raise capital and deliver social and affordable housing at scale.”
“It will change the lives of countless Queenslanders who are in dire housing need,” Ms Oelkers said.
With support from the Queensland Government’s Housing Investment Fund, the QIC-BHC partnership will deliver seven projects in the initial stage, representing nearly 600 dwellings.
The first two projects to commence will be located in Sutton Street, Redcliffe and Ethel Street, Chermside, with residents able to move in during 2024. The remaining South East Queensland sites will be announced once they are secured. Construction is set to commence on all projects by 2025.
Read the Australian Retirement Trust release.