Earlier this year, Economic Development Queensland (EDQ) announced the signing of two new infrastructure agreements – one with Ipswich City Council and the other with developers Stockland and Moremac – that unlock $27.5 million in Catalyst Infrastructure Funding (ICF) for Ripley Valley.
The announcement followed significant work by council over two years to secure much-needed funding for the city.
Here, we breakdown what the funding agreement for stage 1 of Ripley Road means for Ipswich.
What is Catalyst Infrastructure Funding?
Economic Development Queensland (EDQ) provides Catalyst Infrastructure Funding (CIF) in the form of low interest loans to help make more land available for housing and accelerate the delivery of essential infrastructure within Priority Development Areas (PDAs).
PDAs are large, new greenfield communities where development has advanced significantly in recent years. Ripley Valley is a PDA.
How much is being provided for Ripley Valley and why?
The latest funding is $27.5 million in Queensland Government loans through two agreements signed by Economic Development Queensland.
The breakdown is as follows:
- $24 million through an agreement with Ipswich City Council towards the upgrade of Ripley Road stage 1 to four lanes, between Cunningham Highway and Monterea Road.
- $3.5 million through an agreement with developers Stockland and Moremac towards the construction of trunk sewer infrastructure for the south-west precinct of Ripley Valley.
What is the total cost for the Ripley Valley roadworks?
Council is currently tendering for design and construction of these works, with a final cost to be determined at the conclusion of this commercial in confidence process.
Why are these works needed?
Ripley Valley is a Priority Development Area (PDA) and one of the largest urban growth regions in Australia.
By 2046, the Ipswich population is forecast to reach 530,000, which is double the city’s current population of 254,000.
The Ripley Valley PDA covers 4,680 hectares and is forecast to develop into 48,750 dwellings to house 131,000 people. This equates to around a quarter of the expected Ipswich population.
Ripley Road is the main link in the region between the Cunningham and Centenary highways, connecting the western corridor to Brisbane. By 2066, it is forecast to carry on average 59,000 vehicles per day. Expanding the road will unlock new housing, address future congestion in Ripley Valley and support local businesses.
Together, the expansion of Ripley Road stage 1 and trunk sewer works are expected to unlock 9,100 new residential lots.
How will this benefit the local economy?
Once new residential lots have been unlocked, they are expected to create close to 600 direct and indirect construction jobs, generating more than $851 million in civil construction and almost $2.5 billion in housing construction in Ripley Valley through to 2051.
When will the works be completed?
The upgrade to stage 1 of the Ripley Road project (Cunningham to Monterea) is expected to start late 2025 and be completed by December 2027.
How will the loans be repaid?
The $24 million in Catalyst Infrastructure Funding towards upgrading Ripley Road will be repaid through infrastructure charges paid by developers and collected by council as the valley develops.
Where can I find more information?
Read more at Shape Your Ipswich here: https://www.shapeyouripswich.com.au/ripley-road-fischer-road-upgrade
