A landmark project slated for a former Cairns drive-in has won Housing Investment Fund backing from the Queensland Government.
Community Housing Limited has partnered with Tetris Capital to lead the end-to-end development of a 490-home project on a 5.365ha site targeting seniors for affordable downsizing.
FCC Construction Australia and Modscape are breaking ground on the Nettleton Tribe-designed landmark project at 710-714 Des Chalmers Drive, Woree, which will comprise 245 social, 223 affordable, and 22 specialist disability homes.
While the project taps the state’s $2-billion Housing Investment Fund, it also has lending support from Housing Australia, the Northern Australia Infrastructure Facility, ANZ and Housing Australia’s National Housing Infrastructure Facility.
According to the planning report, the area has experienced significant housing supply constraints in recent years, with a rental vacancy rate of about 1 per cent.
Tetris Capital principal Ryan Slocombe said the project demonstrated the capacity for public-private partnerships to drive transformational change.
“This project is about making a real difference in the lives of Cairns residents,” Slocombe said.
“It will not only deliver lasting social benefits but also create new opportunities for more locals to access the social and affordable housing they need.”
Tetris Capital will oversee delivery and operations and would retain an ongoing investment in the project.
Not-for-profit social and affordable housing provider Community Housing Limited will manage the 490 homes with onsite staff and partner with local organisations.
Community Housing Limited Queensland state manager Alicia Follent said the project would offer Cairns seniors the opportunity to downsize from larger homes and help to free up under-utilised social housing for families in need.
The project will comprise low maintenance and efficient one and two-bedroom apartments for seniors and people with disabilities.
“With easy access to public transport, the Bruce Highway, local shopping and the Woree Aquatic Centre, this location provides for a comfortable and active lifestyle,” Follent said.
“We are committed to fostering an environment where residents can enjoy their independence while being part of a vibrant and caring community.”
Project completion is slated for the end of 2026.
