Not-for-profit real estate provides Tablelands investors the chance to give back

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Property owners and landlords on the Tablelands will be helping to increase the stock of affordable homes with the launch of a new not-for-profit real estate company based in Mareeba.

Speaking at a dinner launching the new Affordable Housing Limited Real Estate, Minister for Housing and Public Works congratulated the Mareeba Community Housing Company on kicking off the new initiative.

“This is a wonderful example of creative thinking leading to real innovation,” Mr de Brenni said.

“Through expanding their operations and opening up a new stream of revenue, Mareeba Community Housing Company are going to be able to invest more in building affordable housing in the area.

“This is a bold and ambitious project, and a lot of hard work and effort has gone into turning it from an idea into a reality.

“I really congratulate Mareeba Community Housing on coming this far, and I really encourage local businesses and community members to get around and support this great initiative.”

Mareeba Community Housing Company manager Patricia Goldfinch said the initiative has been over a year in the making and stemmed from a regional housing planning meeting held in Mareeba in February 2015, hosted by the State Government.

“This meeting highlighted for us the need to look at growing and innovating through partnerships including between the not for profit and private sectors,” Ms Goldfinch said.

“We started investigating the feasibility and legislative requirements to form a not-for-profit housing real estate agency, and we received our licence in 2016 as a limited real estate agent (affordable housing) in August 2016.

“All profits from this arm of the business are directed into affordable housing trust where the long term goal will be to purchase or build additional affordable housing options for our community.”

Ms Goldfinch said that they had already been engaged by a local investor to manage the tenancies on a block of six units.

Mr de Brenni said it was wonderful that investors in Mareeba have the chance to give back.

“This is a great, simple way for people to be able to give back to their community,” he said.

“I really congratulate MCHC for grabbing the bull by the horns and making this initiative happen.”

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