More than 9000 housing lots will be unlocked south-west of Brisbane under infrastructure agreements revealed this week.
The Queensland Government said 9100 lots would come online in the Ripley Valley Priority Development Area thanks to the two new agreements.
Economic Development Queensland has signed the agreements to provide $27.5 million in loan funding from the state government that, it said, would provide economic stimulation and infrastructure growth in the Ripley area, about 45km from the Brisbane CBD.
One of the infrastructure agreements with the Ipswich City Council, worth $24 million, will unlock an estimated 4600 lots in the Ripley Valley thanks to a four-lane upgrade to a section of Ripley Road between Cunningham Highway and Monterea Road.
The other, worth $3.5 million, is with developers Stockland and Moremac for trunk sewer works in the south-west precinct of the PDA to unlock an estimated 4500 lots.
The Government said the loans under the Catalyst Infrastructure Fund would support investment in $39.3 million worth of essential new infrastructure.
“Opening the new residential lots will generate an estimated $851.4 million in civil construction and almost $2.5 billion in housing construction in Ripley Valley, as well as more than 585 direct and indirect construction jobs through to 2051,” it said.
Stockland general manager David Laner said the catalyst funding for infrastructure at Deebing Creek would help Stockland unlock land for its new masterplanned community, Stockland Botanica.
He said it would provide around 2300 homes for Queenslanders, as well as regional sporting facilities, a school, community facilities and retail.
“The Catalyst Infrastructure Fund is a clear demonstration of the importance of collaboration between government and industry in delivering much needed housing in this rapidly growing part of South-East Queensland,” Laner said.
The Queensland Government’s Catalyst Infrastructure Fund received a $150-million boost in equity funding in 2022 to deliver new communities in Ripley Valley and Greater Flagstone.
A further $21.2 million was committed as part of the Government’s response to the Queensland Housing Summit.
The Ripley Valley PDA, covering 4680ha will potentially develop into 48,750 homes to house a population of 131,000 people.
