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The Queensland Government has launched the first round of its $2 billion Residential Activation Fund that aims to kick-start $500 million worth of infrastructure for housing across the state with half of the total funding earmarked for projects outside of the densely populated south-east corner.
The government opened the first round of applications for the flagship fund today for “ready now” projects that help critical housing infrastructure for new housing developments to get out of the ground faster.
The Residential Activation Fund is a key pillar of the government’s Securing Our Housing Foundations Plan that aims to break down the red-tape barriers to building.
The fund is open to local governments and landowners with development applications who can apply for funding to build infrastructure such as water supply, sewerage, stormwater, power and roads for infill or greenfield sites.
Round one prioritises shovel-ready projects, focusing on residential developments where housing infrastructure can be fast-tracked.
The government says that projects will be assessed on local needs for housing, as well as demand, scale and benefit to the community, with construction of these projects needing to start in the coming year.
“We’re delivering a place to call home for more Queenslanders sooner by kick-starting new housing developments with critical infrastructure,” says Queensland Premier David Crisafulli.
“This unlocks land to build more homes sooner, opening the door to home ownership earlier to ease the housing crisis and drive down costs for Queenslanders.
“We are securing the foundations for the highest home ownership rates in the nation over the next decade and removing delays that have locked Queenslanders out of a home.”
The government has allocated $1 billion of the Residential Activation Fund for regional Queensland as part of the plan to unlock homes “for every corner of our state”.
Queensland’s Minister for State Development, Infrastructure and Planning, Jarrod Bleijie, describes the fund as a gamechanger in addressing housing demand across the state.
"We remain steadfast in our commitment to continue to increase housing options across Queensland and halt Labor’s housing crisis,” says Bleijie.
“We want to see houses coming out of the ground as quickly as possible, and I urge councils, developers and landowners to submit their applications for the Residential Activation Fund.”
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