Housing Australia, Bric Housing and Conscious Investment Management Partner to Deliver Social and Affordable Housing in Margate, Queensland under the Housing Australia Future Fund

Conscious Investment Management (CIM), leading Queensland-based community housing provider Bric Housing (Bric) and a sector aligned developer have partnered to develop and acquire 60 new dwellings in Margate, Queensland, which are expected to provide housing to more than 80 people. The homes will be delivered as 18 social housing and 42 affordable dwellings underpinned by funding from the Housing Australia Future Fund (HAFF), providing much needed housing for key workers and households on low incomes.

The project is being financed through a combination of capital from CIM’s managed funds and Housing Australia. Bric is acquiring the units on a turnkey basis, as dedicated social and affordable dwellings. CIM has structured its financing such that Bric retains ownership of the properties beyond the life of the HAFF program ensuring the dwellings remain as social and affordable dwellings for the long term.

Located in the Moreton Bay City Council of Queensland, the development is highly aligned with housing need in the area, with the region having particularly high levels of unmet demand. It is well located with a range of public transport, local services, amenities and employment opportunities close by.

Bric Housing is a Tier 1 community housing provider that offers both social and affordable housing under a range of programs in partnership with the Queensland Government. Bric has extensive experience managing and operating properties in the Greater Brisbane and Moreton Bay regions, and currently manages and supports around 1,000 tenancies in 200+ properties.

Jane West, CEO of Bric Housing said, “we are thrilled to provide these quality social and affordable homes and contribute, together with our partners, to addressing the housing affordability in the community. Values aligned partnerships have been crucial to the delivery of these homes. The CIM team have been amazing to work with and have played a central role in the success of the project alongside Housing Australia and City of Moreton Bay.”

“This project in Margate was only possible due to Bric’s ability to pull together complex partnerships between local Government, developers and financiers,” said Iain Wood, Director at CIM. “We deeply value our relationship with Bric and look forward to continuing to support the delivery of much needed social and affordable housing in the future.”

Scott Langford, CEO of Housing Australia said, “the Margate project with Bric Housing demonstrates how the Housing Australia Future Fund is driving innovative partnerships across all levels of government, community and the private sector to create long-term housing security for Australians in need. Together, we are focused on delivering safe, affordable and accessible homes that are close to essential services and employment opportunities.”