West Perth-based property developer Cedar Woods Properties Ltd has received planning approval from the Victorian Government for a new town centre and residential project, to be situated in Melbourne's western suburbs.
West Perth-based property developer Cedar Woods Properties Ltd has received planning approval from the Victorian Government for a new town centre and residential project, to be situated in Melbourne's western suburbs.
The Williams Landing project, situated on a former RAAF airfield 18km from the Melbourne CBD, has an anticipated end value of $1 billion.
The full text of a company announcement is pasted below
Cedar Woods' Laverton airfield redevelopment project 'Williams Landing' has received Victorian Government planning approval for a $1 billion town centre and residential project.
Williams Landing is situated on the former RAAF airfield only 18 kilometres from the Melbourne CBD. Spread over 275 hectares, this urban infill project is a major boost for Melbourne's west.
Cedar Woods Victorian State Manager, Nathan Blackburne said he was delighted the project had received the green light and looks forward to creating a major town centre and masterplanned community for Melbourne's west.
"The western suburbs have seen unprecedented growth in recent years and the Williams Landing project will deliver a well located town centre to service existing and new growth areas and to accommodate support services for nearby industry," Mr Blackburne said.
"Williams Landing will be a major employment, retailing and entertainment centre for the west."
The town centre component of the project has Major Activity Centre designation under the Victorian Government's Melbourne 2030 planning policy and will accommodate a significant amount of retail, bulky goods, entertainment uses, residential and commercial floorspace. The centre will be integrated directly with a planned rail station and bus interchange.
Surrounding the town centre will be a sustainable masterplanned residential development accommodating approximately 2000 dwellings and over 16 hectares of parks and sporting facilities.
"This will be a benchmark development for Melbourne in both its design and sustainability. The project consists of four distinct residential neighbourhoods each with their own character and parks linked by a network of paths and cycle ways," Mr Blackburne said.
"Each neighbourhood will be within walking distance of the town centre and rail station or have ready access to bus services that will go directly to the town centre and rail station."
The property is located directly on the Princes Freeway and Melbourne-Geelong railway line and is only 20 minutes from the Melbourne CBD.
The new rail station was announced by the Government in 2006 as part of Melbourne's new transport blueprint. The station will be integrated with the new freeway interchange, which Vic Roads commenced construction on in 2006. The new interchange is seen as a major win for the west in easing transport congestion at the Forsyth and Point Cook Road interchanges and in providing access to the proposed rail station.
"The infrastructure, employment, and housing outcomes are good news for the regional economy and the town centre will give residents an alternative to commuting to the city every day," Mr Blackburne said.
"Cedar Woods will retain 55 hectares of the site for conservation purposes in a system of three reserves which protect native vegetation. The three reserves have already been created and integrated into the project's masterplan."
The project was reviewed by the State's Priority Development Panel and will operate under a Priority Development Zone.
Construction on the project is anticipated to commence this year and is expected to deliver revenues and profits to the company over a 15 year period.
Williams Landing is the first of three Cedar Woods Melbourne projects to be approved. Planning for the remaining two is expected to be finalised in 2007. They consist of a 56 hectare infill site in Lalor and a nine hectare land holding in West Footscray, adjacent to the $20m Whitten Oval redevelopment project and the West Footscray railway station.
