The Queensland Government is partnering with the development sector to deliver affordable rental housing through new Build-to-Rent developments.
Build-to-Rent fast facts
- Build-to-Rent developments are usually large-scale residential properties specifically designed, built and managed for long-term rental.
- Build-to-Rent developments generate long-term rental income for developers, rather than up-front sales or capital growth, targeting the growing renter market seeking secure, long-term rentals.
- Build-to-Rent provides an opportunity for government to partner with the private sector to deliver discount-to-market affordable rental homes which can help workers find a home closer to their job.
Build-to-Rent in Queensland
The Queensland Government’s Build-to-Rent Pilot Project will provide affordable and secure housing for more Queenslanders, while driving investment in the residential development sector.
A targeted Government rental subsidy will be provided to deliver affordable rental housing within the Build-to-Rent developments in Brisbane. Final developments will provide all residents with a high amenity rental experience, access to transport and employment nodes and premium service delivery.
The Pilot Project initially targeted developments on privately owned land, and has expanded to include a state-owned site.
Pilot project – approved projects
The Queensland Government has approved three Brisbane-based affordable Build to Rent housing projects by developers:
- Frasers Property at 210 Brunswick Street, Fortitude Valley
- Mirvac at 60 Skyring Terrace, Newstead
- Cedar Pacific at 50 Quay Street, Brisbane.
Combined, these properties will offer approximately 1200 rental apartments, including up to 490 dwellings to be provided at a discounted rent.