Unlocking 9,100 New Lots in Ripley Valley
Economic Development Queensland (EDQ) has finalised two key infrastructure agreements, unlocking over 9,100 new residential lots in the Ripley Valley Priority Development Area (PDA). This initiative, supported by $27.5 million in loans from the Queensland Government, aims to enhance critical infrastructure in the region.
EDQ’s Catalyst Infrastructure Funding process provides a mechanism to fund infrastructure necessary to catalyse development in Greenfield PDAs which would not otherwise occur. This in turn stimulates private sector development and investment and facilitates affordable housing generating job opportunities and economic development.
The first agreement, worth $24 million, with Ipswich City Council, will fund a major upgrade to Ripley Road. This project includes extending the road to four lanes between Cunningham Highway and Monterea Road, unlocking around 4,600 new lots. The expansion is crucial for improving connectivity and supporting community growth.
The second agreement, valued at $3.5 million, involves developers Stockland and Moremac. It will fund essential trunk sewer works in the south-west precinct of the PDA, which is expected to unlock approximately 4,500 lots.
"We’re funding the roads and other essential infrastructure like water and sewer works that are needed to bring much-needed new housing to the Ripley Valley"
- Minister for State Development and Infrastructure, Grace Grace
This catalyst infrastructure funding will support a total of $39.3 million in infrastructure investments which is expected to stimulate a $851.4 million increase in residential civil construction. Additionally, it represents a significant $2.5 billion investment in residential housing development. What’s particularly exciting is the anticipated impact on employment. By 2051, we expect the creation of 585 direct and indirect construction jobs from these projects, reflecting our commitment to driving economic growth in the communities we serve.
The funding will significantly contribute to the development of Ripley Valley, which has the potential to accommodate up to 48,750 dwellings for a population of 131,000 people. This investment underscores our commitment to expanding housing and infrastructure to meet the growing needs of Queensland’s rapidly expanding communities.
Pictured - Ipswich Mayor Teresa Harding, local members Jennifer Howard (Ipswich Electorate) and Lance McCallum (Bundamba Electorate)
Last updated: 16 August 2024
