Australian Property Updates

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Melbourne welcomes a new suburb

20,000 Victorians will soon have a new home in Melbourne’s newest suburb. Cranbourne East Precinct Structure Plan (PSP) has just been approved. Schools, kindergartens, retirement villages, open spaces and three local town centres will all be developed over the next 15 years as well as up to 3,000 new jobs will be created.

“We are delivering on this plan and creating well designed communities such as Cranbourne East with smart planning from their inception. “Like other new suburbs in Melbourne, Cranbourne East is set to come to life as a thriving and vibrant community while also providing thousands of new homes for Victorians.” Announcing the masterplan at a presentation to the Urban Development Industry Association Mr Madden said the new 589 hectare community in Cranbourne East would include:

•    6,600 housing lots
•    Three local town centres with jobs closer to where people live;
•    Three schools and two kindergartens;
•    Retail and community services and centres; and
•    Retirement villages and a network of local walking and cycling destinations.

“The location of schools, shops and parks – and the manner in which they are connected to the rest of the community – will mean less reliance on cars for getting around,” Mr Madden said. “Best of all, most residents will be within 400 metres of at least two parks, which is a triumph of good planning. Investment property Melbourne.

“We are ensuring people can not only live and work closer to their home, but live in a neighbourhood and be part of a community they will want to call home. “Melbourne’s population grew by more than 100,000 in the last financial year with the biggest growth in Wyndham, Casey, Melton, Whittlesea and Hume – Melbourne’s growth suburbs.

“Our clear plan to manage growth, Melbourne @ 5 Million is ensuring all Melbournians, no matter where they live, have access to the lifestyle they want.”  Mr Madden said Cranbourne East was also the first occasion on which the Growth Areas Authority (GAA) structure plan used concurrent land rezoning and subdivision approval processes.

“The Cranbourne East Precinct Structure Plan (PSP) also approves seven subdivision permits facilitating more than 3,000 new homes,” he said. “This speeds up the subdivision process by at least six months, and comes after much collaboration and effort between the GAA, Casey Council and developers. “Aligning these processes has been so successful that this will be the template for future structure plans to ensure timely delivery of these developments.”

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