The Prime Minister today announced that the Gold Coast has received approval for 543 new homes worth $144 million under Stage Two of the Nation Building Economic Stimulus Plan Social Housing Initiative.
This brings the total number of new social housing dwellings on the Gold Coast to 571 homes, worth $152 million, following the announcement of Stage One projects earlier this year.
The 28 new homes under Stage One have started construction and are expected to be completed by the end of 2009.
The Prime Minister made the announcement during his address to the Master Builders' Australia annual national conference at the Gold Coast.
Across the country, the Government estimates that the social housing component of the stimulus plan is supporting more than 15,000 jobs.
This new investment is one part of the Rudd Government's program to increase the stock of affordable homes in Australia by 80,000 by mid-2012.
For Queensland, the Social Housing Initiative involves 4,038 new properties at a cost of $1.085 billion.
The stimulus plan also includes a $5 million investment in maintenance and repair work for 1,217 homes on the Gold Coast. Renovation and repainting jobs increase the quality of the housing stock and lengthen its life.
Locations, numbers of dwellings and funding under the Social Housing Initiative are current and are subject to variations during the tender process.