The country is to build the largest housing development in Australia’s Highlands Park in a first phase, which is due to begin later this year.
Key points:The development is to be built on a site previously used by an industrial site, and will include 400 new apartmentsThe plan is to include a mixed use precinctThe development will include more than 100 apartmentsThe $40 million development is one of the biggest in the country to date and will feature a total of 2,500 homes, with more than 400 units in the first phase.
The project will be the first of a number of large-scale housing developments planned for the Highlands, which stretches between the Blue Mountains and the Sunshine Coast.
“It will be a significant investment for the state and will allow us to deliver the massive, community-based development that we need to ensure that this area is thriving and that all Australians benefit from our beautiful countryside,” Prime Minister Malcolm Turnbull said in a statement.
“The new development will be one of our most significant new projects in our history and will create thousands of jobs, and the additional housing will create hundreds of thousands of opportunities for the area.”
The Government will be spending $40 billion on housing over the next 10 years, with $10 billion earmarked for the development of the northern Highlands.
The Prime Minister said it was important that the investment in housing was not only for the people of the area, but also for the local community.
“Our government will continue to invest in the area in the face of the challenges that our region faces, and we are determined to ensure the benefits of our housing and infrastructure are shared broadly,” he said.
“This investment will not only deliver benefits for the surrounding community, but it will also contribute to regional growth.”
He added that the Government was looking forward to working with the development partners to make the investment happen as quickly as possible.
The development of 2.5 million square metres of new housing in the Highlands Park is one in a series of planned housing developments in the region.
The plan for the second phase, known as the North Highlands Community Housing Project, includes a mixed-use precinct, with apartments for more than 300 people and a range of commercial and retail spaces.
It will also include a number 100 apartments for those who have not yet secured an apartment, which will also provide an opportunity for more residents to move in.
The North Highlands development will take four years to complete, and is expected to cost about $400 million.