Vacant Townsville CBD commercial buildings could be repurposed into residential properties.
A report presented to September's Ordinary Meeting of Council has highlighted the positive long-term financial feasibility of converting unused or underutilised CBD commercial buildings to apartments.
Townsville City Council worked with the Property Council of Australia to carry out the report.
Mayor Jenny Hill said this was one of the strategies Council is looking at to try and address the lack of housing in the city.
"There's an increasing demand for more housing in Townsville, including near the CBD where a lot of people work and socialise," Cr Hill said.
"The report has taken into consideration converting properties like the old Playtime building on Flinders Street to help address the housing shortage.
"Townsville is one of the fastest growing cities in Northern Australia and Council is looking at several options to try and meet the demand.
"Projects like Lansdown Eco-Industrial Precinct and NQ Spark are set to create thousands of jobs for our city and help our region transition to industries of the future.
"We have also seen a great shift as people look to move to regional areas, which has put further strain on our housing availability.
"Rental vacancy rates are well under one per cent across many Townsville suburbs.
"It's important Council looks at options to help create housing availabilities as Townsville continues to grow.
"The report found there was long-term financial feasibility in converting some of the sites into housing.
"It broadly outlined what can be done to convert these properties and enhance development in the city and it is something we will look into."
Planning and Development Committee chairperson Mark Molachino said the report was not the only step Council was taking to try to create more housing in Townsville.
"At the Ordinary Meeting of Council, we also got an update on our Affordable Housing Action Plan," Cr Molachino said.
"There are several action areas in the plan and Council is on track to deliver them all.
"A company has been set up to develop the North Rail Yards and we are reviewing what Council land is suitable for housing developments.
"Council has also partnered with government and industry to deliver more affordable housing and Council's generous development incentives have generated more investment and employment opportunities.
"Council will continue to work through the housing action plan to address the housing shortage the city continues to face."
