LNG partnership to provide affordable housing wins award
THEY'RE yet to start building, but the Gladstone Affordable Housing developers are already receiving awards.
The collaboration between the Gladstone's three LNG companies and not-for-profit company GAH was this week awarded the Business Partner of the Year Award at the PowerHousing Australian Annual Awards dinner in Melbourne.
The award acknowledges corporate organisations working in partnership with the community housing sector.
GAH spokeswoman Rebecca Oelkers nominated the project, and said the win recognised the efforts of GAH and Australia Pacific LNG, Santos GLNG and QGC.
She said the partnership was an Australian first.
The LNG companies donated $19.8 million, to meet a condition of the Queensland Coordinator-General, to create and subsidise 35 affordable homes in the region.
But Ms Oelkers said the project would create more.
"(The investment) will seed a more extensive development program which will provide a range of housing options, " she said.
"They will provide much-needed high-quality affordable housing stock in the Gladstone region and foster the creation of a financially and socially sustainable affordable housing company to provide long-term service to the community," Ms Oelkers said.
She said a "significant number" of properties in each development would be assigned a percentage of market rent for moderate income families and singles.
The rest will be offered for market sale, with profits invested back into the project.