Spotlight on: Brisbane Housing Company (BHC)
Housing Australia will provide Brisbane Housing Company (BHC) with a $280 million AHBA loan and $20 million NHIF loan and grant to support the delivery of 587 new social and affordable homes together with an additional 25 market homes in South-East Queensland.
It is the first project where Housing Australia is co-funding with a superannuation fund through the involvement of Australian Retirement Trust (ART) and is a project funded under the Queensland Government’s Housing Investment Fund (HIF), with institutional investment manager QIC structuring the financing model.
Spread across seven sites in regional and metropolitan south-east Queensland, the project includes 276 social, 286 affordable and 25 market homes.
It will be delivered over the next three years with four sites already under construction. One site is due for completion in late 2024, and the other three sites due for completion in mid-2025.
A diverse mix of tenants is expected to move into the homes from late 2024, including people over 55, young people at risk of homelessness, women and children escaping domestic and family violence, and key workers.
BHC invests in programs and services to support residents with their tenancy, employment and the creation of cohesive communities.
Rebecca Oelkers, BHC CEO said, ‘This partnership with Housing Australia, together with funding support provided by the Queensland Government’s HIF Program, has mitigated refinancing risk and helped to provide a level of certainty to investors of a stable, long-term sustainable investment.
‘The financing arrangements have assisted in creating a new framework for innovative partnerships between the community housing, private sector and government agencies.
'BHC is incredibly proud to be working with QIC, Australian Retirement Trust, the Queensland Government and Housing Australia to create an innovative approach to financing which will deliver life-changing homes for Queenslanders in housing need.’