By JOHN VAN KLAVEREN
GEELONG has received a $2 billion boost with the approval of Armstrong Creek’s west precinct structure, Planning Minister Matthew Guy has announced.
He called the approval an investment in Geelong’s building and housing industry.
Developers estimate the first residents could move into the new precinct by mid-2014, with building creating almost 2000 jobs.
“This is one of the fastest growing areas in Australia and will be instrumental in enhancing the liveability of the Geelong area by providing affordable homes for local families,” Mr Guy said.
Armstrong Creek West would accommodate 5800 new homes, he said.
The Armstrong Creek urban growth area will accommodate up to 60,000 residents in total, providing about 22,000 jobs.
Member for South Barwon Andrew Katos said the western precinct would provide significant areas of open space and community facilities.
“Geelong is the best city in Victoria and the well-planned growth at Armstrong Creek will help us to maintain our strong economy into the future,” he said.
Villawood Properties executive director Rory Costelloe said he was excited to secure the approval after six years of planning.
“In anticipation we launched the project last November and have already sold over 100 lots. We can now have the planning permits issued by the council in the coming weeks and start construction.
“We’ve just been waiting for the green light. We need to catch up with our sales.”
Mr Costelloe said work on a 32-lot display village would begin soon.
The Villawood subdivision’s central road would connect direct Geelong ring road’s C4 stage.
“This is a 10-year project of 2200 lots generating an end value of $400 million, creating hundreds of jobs along the way,” Mr Costelloe said.
Duke Property Group’s Sean Duke said his western precinct subdivision of 800 to 1000 lots would create around 1000 jobs.
“There’s some infrastructure to go in first and, realistically, the first resident could be in within 18 months.
“We’ve been getting strong enquiries out of Melbourne’s western suburbs such as Taylors Lakes and Tarneit because they’re filling up and people are looking to get down the road.”
Council planning portfolio holder Rod Macdonald was pleased the lengthy approval process was over.
“It’s a terrific fillip for the region and will result in lot of new facilities and parklands, creating a great environment to live.”
