The Victorian Government is making homes in the inner city more affordable and creating local jobs with a new neighbourhood on the edge of the CBD.
Minister for Planning Richard Wynne today announced changes to the Melbourne Planning Scheme that unlock millions of dollars of investment by rezoning industrial land for the new suburb of Macaulay.
In a win for the community, Mr Wynne has approved the City of Melbourne’s request for an interim development contributions plan overlay, ensuring landowners and developers who make a windfall from the development of Macaulay give back by helping build community services and infrastructure.
The land-use plan for Macaulay was created by the City of Melbourne, while the VPA created the interim development contributions plan overlay.
The interim contribution rates paid by developers and landowners are:
⦁ $16,127.58 per dwelling
⦁ $182.58 per square metre of new commercial floor area
⦁ $152.15 per square metre of new retail floor area
Macaulay will become home to 10,000 residents and 9,500 jobs by 2051. It will encourage a range of housing options, including more affordable dwellings for the community.
The new suburb will be just a short walk to the future Arden urban renewal area and Arden Station, one of five new underground stations being built as part of the Metro Tunnel.
New building controls will ensure high quality mid-rise developments between six and nine storeys, or rising to 12 storeys if public benefits such as community facilities or additional open space agreed by council are included. The controls provide certainty for the community and developers – and long-term flexibility.
The Labor Government is helping young Victorians achieve their dreams of homeownership with a suite of measures including abolishing stamp duty for eligible first home buyers, creating an opportunity for first home buyers to co-purchase their homes with the Government and making long-term leases a reality.
The City of Melbourne has worked with the community to shape the vision and plan for the area and ensure that the Amendment strikes the right balance between catering for population growth and protecting local character.
Quotes attributable to Minister for Planning Richard Wynne
“This is proper planning at play. We’re building a flagship new community, protecting local character, making homes more affordable and giving more Victorians a chance to work close to where they live.”
“We’re ensuring those building the new Macaulay community make it a world-class place to live, with the infrastructure and services locals need and deserve.”