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Molonglo Valley’s third suburb set to be released

The ACT government has lodged plans for the development of Molonglo Valley’s third suburb and blocks have been fast tracked for release as a result of the Mr Fluffy scheme.

The plans for the first stage of Denman Prospect include 390 single residential blocks and nine hectares of usable open space with an allowance for a school and associated recreational areas.

The blocks will be released for sale in the first half of 2015.

A 107-hectare section of the suburb failed to sell at auction last year and negotiations fell through with the only registered party three months later.

Following this the ACT government decided to develop the suburb in consultation with the Master Builders Association and the Housing Industry Association.

Land Development Agency deputy chief executive Dan Stewart said planning for the new suburb had begun following the sales process last year and they were on track to meet targets.

This includes the release of the 390 blocks for sale by June 2015 and the completion of construction work to enable housing construction to commence on the first 300 blocks by June 2016.

Mr Stewart said 100 blocks would be fast tracked in the suburb in order to meet anticipated demand created by the Mr Fluffy buy back and demolition scheme.

The Land Development Agency previously indicated it would speed up the land release program following the government’s announcement of the scheme.

This includes the release of an extra 300 blocks of land – 100 each for Denman, Moncrieff and Throsby in 2015/16.

Following the government’s Mr Fluffy decision the Real Estate Institute of the ACT warned of an artificial price boom as many of the affected 1021 home owners hunted for a new home or land to build one in the territory.

The development application, now on public notification with the ACT Planning and Land Authority, represents the first half of stage one for the new suburb.

Mr Stewart said there were a further 1400 dwellings planned for the second half of the stage, which would include a mixture of single blocks and multi-unit sites.

In total Denman Prospect will hold about 4000 dwellings when it is completed.

Master Builders Association of the ACT deputy executive director Jerry Howard said the blocks in Denman would be expensive because of the work needed to comply with solar access rules.

He said the suburb had a sloping typography and this would mean homes were also more costly to build as they had to fit within the solar envelope.

“I think in Denman what we’ll see is a real challenge to comply with the current rules,” he said.

“We need to get some balance back into this business between the cost of land and the planning rules so we can get back to building more affordable houses in the ACT,” Mr Howard said.

This story Administrator ready to work first appeared on Nanjing Night Net.

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