An affordable build-to-rent development proposed for a car park in regional Queensland has won fast-tracked approval from the state government.
The Brisbane Housing Company project in Toowoomba City will replace a car park on Station Street.
The 75-apartment complex is part of a larger delivery plan by the Brisbane Housing Company, which has 17 active projects in various stages of planning and construction across south-east Queensland. It expects to complete 290 affordable homes this year.
During the past decade the social housing waitlist skyrocketed to more than 45,000 families while housing lot approvals plummeted by 29 per cent in Queensland.
The independent not-for-profit Brisbane Housing Company purchased the land 130km west of Brisbane from the Toowoomba Regional Council in 2022.
Chief executive Rebecca Oelkers said they were working on their largest development pipeline in more than 20 years.
“Our footprint across south-east Queensland already includes 2000 secure, long-term tenancies and that number will triple by 2030,” Oelkers said.
“We are directing every effort to deliver our record development pipeline, which comprises a mix of social and affordable housing in key areas such as Toowoomba, Brisbane and the Gold and Sunshine Coasts.”
Toowoomba councillor Trevor Manteufel said council research had found the carpark was barely used.
“We don’t expect the downsizing of the car park to have a significant effect on the community,” Manteufel said.
“However, we do know residents have been asking for more housing options for quite some time.
“This is a step in the right direction for the future of our region.”
Real Estate Institute of Queensland chief executive Antonia Mercorella said the project held a myriad of social and economic benefits.
“This is exactly the kind of innovative model and targeted support that delivers the type of housing that’s so sorely needed in our market to the people who need it most,” Mercorella said.
“[The Brisbane Housing Company] is setting a great example for how we can make a real, lasting difference through scalable, programmatic investment in social and affordable housing.”
Early works on the Station Street car park are due to begin on March 1.
