In welcome news for Queensland’s construction industry, the Palaszczuk Government has announced that an agreement has been secured with leading builders, Mirvac and Fraser Property Group, to deliver Brisbane’s first two Build-to-Rent projects.
The two sites will be located in Newstead and Fortitude Valley and will provide a targeted rental subsidy to deliver affordable market rental housing within the Build-to-Rent developments in Brisbane.
Treasurer and Minister for Infrastructure and Planning Cameron Dick said the projects would create more than 400 jobs during the construction phase bringing welcome support to a slow market.
“At a time when private investment and construction has slowed due to the pandemic, our Build-to-Rent initiative will support 440 full-time jobs over two years, in addition to ongoing jobs in the operation of the long-term Build-to-Rent developments.”
The developments will provide more than 750 apartments combined, with up to 240 dwellings to be offered at a discounted rate.
The final developments are expected to provide all residents with a high amenity rental experience, access to transport and employment nodes and premium service delivery.
Following the finalisation of designs, it is anticipated that construction will commence in mid-2021.
Receive our updates straight to your inbox