Wednesday, July 24, 2024

Stockland loan paves way for Ripley Valley road construction

Another 5,600 lots are set to be unlocked in Queensland’s Ripley Valley Priority Development Area (PDA) through the development of Barrams Road in Providence Estate, Deputy Premier, Steven Miles, announced today.

The Deputy Premier said Stockland will construct the road with the assistance of a $5.91 million catalyst loan from the Queensland Government.

The loan is part of the initial $40 million in catalyst funding, aimed at delivering essential infrastructure with Ripley Valley PDA.

He said the development of Barrams Road was critical to unlocking the southeastern development precinct of the PDA and provides the missing link between the existing road network servicing Providence Estate and Intrapac’s Cumner Road construction.

“The Queensland Government is committed to tackling the current housing issues and ensuring every Queenslander has a roof over their head,” said Mr Miles.

To do that we need everybody’s cooperation, because this is a national challenge, over 95% of people get their housing from the private market and councils are responsible for the majority of planning and approvals.  

That’s why we’re helping councils by reviewing regional plans, preparing and delivering Local Housing Action Plans for rural and remote councils and providing Catalyst Infrastructure Funding to unlock growth. 

“In the last Budget, the Queensland Government boosted the Catalyst Infrastructure Fund (CIF) with a further $150 million in equity funding to help deliver communities in Ripley Valley and Greater Flagstone.”

He said the PDA will potentially develop into 48,750 dwellings to house a population of 131,000 people.

“Our community is growing rapidly, so it is important to not only identify land for new homes, but also to make sure development can be accelerated,” said Bundamba MP, Lance McCallum.

“This is about having key infrastructure in place so that homes can be built as quickly as possible for Queenslanders who need them.

“Constraints on housing supply, diversity and affordability is one of the biggest challenges facing SEQ and the nation; a key part of the Queensland Government’s plan to address this is by unlocking tens of thousands of lots across SEQ.

“I’m looking forward to welcoming more Queenslanders to live, work and play sooner in our wonderful Bundamba community, thanks to our Catalyst Infrastructure Funding.”

The Ripley Valley PDA covers a total area of 4,680 hectares.

The Queensland Government said Ipswich City Council had also been consulted in developing the catalyst infrastructure agreement with Stockland.

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