A PLAN to renew and redevelop a Coopers Plains public housing estate is closer to realisation, with Queensland Housing and Public Works Minister, Bruce Flegg, last week announcing the start of work on a community centre and sales office.
The $400 million master-planned community by Consolidated Properties, named Cornerstone Living and initiated by the former Labor Government, will redevelop former government land and public housing properties to revitalise the precinct.
Dr Flegg said the renewal precinct, bordered by Boundary Road, Breton Street and Troughton Road, is made up of vacant blocks of government land and about 50 public housing dwellings.
Consolidated Properties was appointed as the preferred developer by the Queensland Government to redevelop a 10 hectare parcel of land over the next decade.
The area was rezoned for medium density development by Brisbane City Council under the 2010 Acacia Ridge/Archerfield Neighbourhood Plan.
The project will provide approximately 1,000 new apartments and townhouses, with around 135 of these to be affordable housing. Aside from an 11-unit social housing complex for seniors, no public housing will be retained on the redeveloped site.
Instead, the government intends to use the proceeds of the progressive sale of the land, estimated to be around $60 million over ten years, to provide public housing in other areas.
"On a conservative estimate that amount of money will equate to at least 250 new dwellings," Dr Flegg said, adding that nobody will be left without a home as a result of the redevelopment.
"Tenants in the older properties to be redeveloped will be offered new homes in the same neighbourhoods," he said.
The Minister said this type of arrangement was the future of social housing, with government and private sector partnerships providing the opportunity to ensure Queensland has renewed and diverse communities.