To combat the housing crisis, the Tasmanian Government is injecting $10 million into a new grant scheme designed to accelerate the construction of medium and high-density housing.
The Density Incentive Grant Scheme will provide developers with financial incentives of $10,000 per dwelling for eligible projects, with a focus on “increasing housing supply and affordability”.
“We’re providing direct support to progress shovel-ready projects across Tasmania,” Housing Minister Felix Ellis said.
“By encouraging higher-density developments, we are boosting housing supply and making the most of land near services and infrastructure.”
Grants will be awarded to developments ranging from 3 to 50 new dwellings, specifically within designated higher-density zones.
Property Council of Australia’s Tasmanian Executive Director Rebecca Ellston welcomed the initiative.
“Density dwellings and developers have been hit hard in recent years by a combination of factors and incentives will help in bringing greater housing options to the market,” she said.
“Increasing incentives has been proven to support the feasibility of new housing projects, which in turn unlocks further development and assists in Tasmanian reaching its housing targets.”
Applications for the grant scheme are expected to open in November.
