Unique partnership to help boost supply

The Victorian Planning Authority has (VPA) has facilitated a memorandum of understanding with Wyndham City Council and developers that will help boost housing supply.

The MoU involves a Priority Paid Pilot Project that is a partnership between the Victorian Planning Authority (VPA), Wyndham City Council, Central Equity, Dacland, Lotus Oaks Developments, LLT Developments, APD Projects and Frasers Property Australia.

The project will allow developers who own large parcels of land in Wyndham to pay a fee to council to fast-track applications for subdivision approvals and engineering works.

This is the second MoU for this project that has been brokered in Wyndham, with the first agreement signed in March with other developers.

Council will use the money to establish a new dedicated growth area team focused on large residential approvals resulting in subdivision and other applications being processed more quickly.

This innovative pilot project will run for three years, with each developer contributing $100,000 per year.

In total, 10 developers have signed up, contributing a total of $3 million to council over the three-year duration of the project.

The project is one aspect of the Victorian Government’s Streamlining for Growth program, delivered by the VPA, which aims to make Victoria’s planning system more efficient.

We know from councils that they are currently processing 60,000 lot applications at various stages of approval in Melbourne, which would service around three years’ of growth. Initiatives such as this will help boost supply and keep housing prices in check.

Quotes attributable to VPA chief executive, Stuart Moseley: 

“With Wyndham being one of the fastest growing municipalities in Australia, it is important that state and local governments introduce new initiatives to speed up housing supply.”

“This project will help developers get on with building, bringing new houses to market in a timely fashion.”