Almost $28 million in infrastructure agreements will unlock more than 9000 new housing lots south-west of Brisbane.
State Government deals with the Ipswich City Council and developers Stockland and Moremac will pave the way for 9100 homes to be built in the Ripley Valley.
State Development and Infrastructure Minster Grace Grace said Economic Development Queensland had signed the agreements to provide $27.5 million in loan funding to stimulate infrastructure growth in the Ripley Valley Priority Development Area (PDA).
Minister Grace said one infrastructure agreement with Ipswich City Council, worth $24 million, would unlock an estimated 4600 lots in the Ripley Valley through the four-lane upgrade of a section of Ripley Road between Cunningham Highway and Monterea Rd.
She said another agreement, worth $3.5 million, with developers Stockland and Moremac, for trunk sewer works in the south-west precinct of the PDA would unlock an estimated 4500 lots.
“The catalyst infrastructure loans will support investment in $39.3 million of essential new infrastructure.”
Minister Grace said opening the new residential lots would generate an estimated $851.4 million in civil construction and almost $2.5 billion in housing construction in the Ripley Valley, as well as more than 585 direct and indirect construction jobs through to 2051.
Ipswich Mayor Teresa Harding Ipswich would experience the highest rate of growth in the next 20 year of any council in Queensland.
“This infrastructure investment is critical to ensure the sustainable growth in Ipswich now and into the future.”
Stockland General Manager David Laner said the catalyst funding for infrastructure at Deebing Creek would help Stockland unlock land for their new master planned community, Stockland Botanica, which would provide around 2300 homes, as well as regional sporting facilities, local school, other community facilities, and local retail.
Moremac General Manager Andrew Brimblecombe said the funding would help ensure that construction of vital infrastructure was keeping pace with development.
“South Place in the Ripley Valley PDA is Moremac’s first project in Queensland and we are delighted to have worked with the Queensland Government on this infrastructure agreement,” Mr Brimblecombe said.
The Ripley Valley PDA, covering 4680 hectares, will potentially develop into 48,750 dwellings to house a population of 131,000 people.
