The Village Townsville makes home ownership affordable
Offering everything from economical terraces to lavish waterfront homes, Economic Development Queensland’s innovative approach has delivered lot sizes ranging from 70 sqm to 700 sqm, and with it a liveable and vibrant community.
Owned by Economic Development Queensland (EDQ), The Village is just 3.5 kilometres from the centre of Townsville, and overlooks nearly two kilometres of riverfront parkland and tree-lined avenues. The development will eventually be home to around 1,000 families.
EDQ is a specialist land use planning and property development unit within the Queensland Government’s Department of Infrastructure, Local Government and Planning.
Executive Director, Regional Development Lavinia Dack says EDQ has delivered eight residential projects across the state since 2009, and each has affordable housing options for first home buyers, downsizers and families.
In Townsville, increasing affordability concerns are pricing many buyers out of the market. To address this, EDQ “set out with an ambitious goal to put inner-city home ownership back in reach for Townsville residents,” Dack explains.
An impressive 78 per cent of all residential dwellings are priced at or below the median house price in Townsville – which far exceeds the per cent target set by EDQ when it laid out the vision for the development.
“Lots as small as 70 sqm had never been seen in Townsville prior to The Village,” Dack explains.
Achieving this demanded close collaboration with the Townsville City Council to demonstrate how “architecturally-designed smaller lot housing products can work as a part of a diverse product mix”.
The Council is now producing a small lot code to allow similar developments to proceed, Dack adds.
“Our approach at The Village demonstrates that affordable housing does not have to mean compromising on lifestyle, amenity or community”.
In May, The Village Townsville fought off competition from four other national finalists to take home the coveted GOUGH Recruitment Award for Best Affordable Housing Development at the 2017 Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Awards.
Dack says the award “celebrates EDQ’s ongoing commitment to delivering house and land options that strike the balance between affordability and lifestyle” and sets a standard for future developments not only in Queensland, but around Australia.