The University of the Sunshine Coast’s plans to build a campus in the Moreton Bay region received a major boost tonight with the Federal Government offering USC a concessional loan for the project.

The low-interest loan, announced in the Federal Budget, will enable the University to immediately begin foundation work for the campus and open in time for the start of Semester 1, 2020.

USC Vice-Chancellor Professor Greg Hill thanked the government for supporting construction of the campus – expected to cater for 10,000 students by 2030 – on the site of the old Petrie Paper Mill, which is owned by Moreton Bay Regional Council.

The campus will be the centrepiece of the council’s planned Mill at Moreton Bay development that will include new commercial, residential housing and community areas.

“The Federal Government has recognised the need for a university campus in the Moreton Bay Region, one of the country’s most disadvantaged areas in regards to access to tertiary education,” Professor Hill said.

“University education transforms lives, and the provision of this loan to USC will support the transformation of this growing region.

“We look forward to working with the Federal Government and with the Moreton Bay Regional Council to develop an innovative university campus purpose-built to meet the needs of the people of Moreton Bay and the wider region.”

Details of the concessional loan to USC will be finalised in coming weeks.

— Terry Walsh