International students are our city’s biggest export with 75,000 international students enrolled every year in Brisbane.
More than 20,000 jobs have been created as part of this industry, generating nearly $4 billion dollars and contributing enormously to our economy.
With this in mind, I have announced a new subsidy to encourage new purpose built and centrally located student accommodation in Brisbane. This initiative will provide a three year reduction in Council’s infrastructure charges for student accommodation developments that are built in particular zones within 4km of the Brisbane city centre.
I’ve also worked with Queensland Urban Utilities to provide cuts in water and sewerage connections for student accommodation developments through a new infrastructure charge category.
This will mean a saving of about $13,440 for a one bedroom unit, presenting an enormous incentive to new accommodation. We know from information provided to us by universities that thousands of students are unable to get into designated student accommodation and are forced into sharehouses.
We want to boost the number of high quality accommodation options with 24 hour management for students attending higher education campuses and teaching hospitals. This incentives comes after the hotel infrastructure charges moratorium, which I announced in 2011 and kick-started a raft of new hotel accommodation developments in Brisbane.
Now I’m looking to do the same for quality, purpose built, multi-storey accommodation for students. We’re making these projects viable, where before these projects were not financially viable.
Domestic and international tertiary students play a pivotal role in the future of our city which is why I’m committed to fostering a quality and safe environment that supports them to study, work and live in our City. This incentive will be available in areas already zoned medium and high density residential or zoned as ‘centres’ that are located in the CBD and inner city locations within a 4km radius of the GPO.
The sites must be very accessible to public transport. The benefit of this incentive is that it means there will be no impact on our tin and timber low density residential areas.
The incentive applies to development applications received and approved between 1 July 2014 and 30 June 2017, where construction commences within two years of the development approval.
For more information about the student accommodation incentives, visit Council’s website at www.brisbane.qld.gov.au.