The Queensland Government is providing $15 million in loan funding to Cairns Regional Council to build a reservoir and associated trunk water network at Mount Peter.

Member for Mulgrave Curtis Pitt said the funding would allow additional land supply to be developed five or six years earlier than planned.

“There are many families in Cairns and families moving to Cairns who are struggling to find an affordable house,” Mr Pitt said.

“The Palaszczuk Government’s investment allows Cairns Regional Council to bring forward this important $18.2 million project which is expected to support 42 jobs.

“Importantly, it will boost associated land development and residential housing – a direct result of the accelerated funding.

“The infrastructure will have the capacity to service an additional 500 lots and a future primary school.”

Cairns Mayor Bob Manning welcomed the interest-free loan and described the work as essential for the future growth of the region.

It would complement the proposed Cairns Water Security – Stage 1 project, which secured Cairns’ urban water needs from the middle of this decade, he said.

Deputy Premier and Minister for State Development Steven Miles said the State’s Building Acceleration Fund provided low-interest loans towards the acceleration of essential infrastructure.