Australian Retirement Trust and QIC Partner on Affordable Housing in Queensland
Posted on 08/03/2022
In late July 2022, Australian Retirement Trust (ART), one of Australia’s largest superannuation funds, partnered with institutional investment manager QIC to finance new social and affordable housing supply in Queensland. Working in conjunction with experienced community housing provider, Brisbane Housing Company (BHC), this innovative investment partnership provides a scalable model for the financing, development and operation of social and affordable housing in the state. Up to 1,200 new homes are to be delivered through the partnership, largely consisting of social and affordable housing, with construction to commence on all projects by 2025. Via the partnership with QIC, ART is making capital available alongside the Queensland Government to enable delivery of seven projects in the initial stage by the QIC-BHC Social Housing Consortium, representing nearly 600 dwellings. The first two projects to commence will be located in Sutton St, Redcliffe and Ethel Street, Chermside, with residents able to move in during 2024. The remaining South-East Queensland sites will be announced once they are secured.
Australian Retirement Trust is the super fund formed through the merger of Sunsuper and QSuper on February 28, 2022.
Brisbane Housing Company (BHC) was established in 2022 and is a charity and one of Australia’s largest community housing providers. BHC is a developer, owner and operator of modern, secure and affordable homes for Queenslanders in housing need.