Markets in a ‘sound’ state despite shift: PIPA
The winds of change are sweeping through the country’s real estate market, but for Property Investment Professionals o...
A Newman Government initiated plan will renew and redevelop a southside public housing estate, providing more affordable accommodation for Brisbane residents.
Dr Flegg said Consolidated Properties' $400 million master-planned community will redevelop former government land and old public housing properties to revitalise the precinct and help address Brisbane's affordable housing shortfall.
"More than 1000 new apartments and townhouses are planned, with 15% (around 135 properties) earmarked for affordable housing," Dr Flegg said.
"The project will complement and incorporate the social housing units which have already been redeveloped on site.
"It also involves the construction of a new 11-unit social housing complex on Boundary Road, purpose-built for seniors."
Dr Flegg said the renewal precinct, bordered by Boundary Road, Breton Street, and Troughton Road, is made up of vacant blocks of Government land and about 50 old social housing dwellings.
Affordable housing refers to a residential property that a household can afford to pay for aside from their necessities.