$3.6b boom in major projects

GEELONG is riding a $3.6 billion boom in major projects, creating jobs and attracting interest among investors.
Construction worth $1.3 billion is either under way or nearing completion across the region.
Another $2 billion worth of investment is either awaiting commencement or in the planning stages, while $645 million in have been completed in the past year.
Projects under way include: Epworth Hospital stage one, $277m; Princes Hwy duplication to Winchelsea, $170m; University Hospital Geelong expansion, $93m; Baanip Blvd section to Geelong ring road, $90m; St Mary’s Tce apartments, $65m; Centre for Advanced Design in Engineering Training, $55m; and Geelong Library and Heritage Centre, $45m.
Projects in the pipeline include: Port of Geelong infrastructure works, $500m; Princes Hwy duplication from Winchelsea to Colac, $374m; Geelong Performing Arts Centre redevelopment, $140m; Drysdale bypass, $110m; Warralily shopping centre, $100m; Balmoral Quay development, $80m; and Simonds Stadium stage four, $70m.
Recently completed projects include: St John of God Hospital redevelopment; Waurn Ponds Shopping Centre expansion; Deakin University Waterfront campus redevelopment and student accommodation at Waurn Ponds; new ICU for Geelong hospital; and Carbon Nexus centre.
Residential activity has also been strong, with a record 2418 new house approvals in 2013/2014, up 20 per cent.
The value of domestic building activity stands at $691 million, up 13.5 per cent. Non-domestic building activity is at $367 million, up seven per cent.
The work on new homes is focussed around southern Geelong in the Armstrong Creek urban growth area but residential projects are also expanding on the Bellarine Peninsula and to the city from Fyansford through to Batesford and Lara.
More people than ever are also commuting between Geelong and Melbourne, according to Australian Bureau of Statistics.
Almost 12,000 made the trip to Melbourne daily, up 25 per cent, with 3650 travelling to Geelong for work, up 27.6 per cent.