HUGE POTENTIAL: Fishermans Bend Urban Renewal Area seen from the sky. Picture: City of Port Phillip website
We’re EXCITED!!! The Victorian State election result provides significant planning certainty around Fishermans Bend.
The Labor government ratified its planning framework and publicly announced the decision prior to the election in early October. The returned government has a mandate for pushing forward with the framework for Fishermans Bend. This gives developers and purchasers clarity around the area and therefore what will be delivered.
Many industry professionals have welcomed the governments significant win. The Property Council of Australia’s Victorian executive director Cressida Wall said that she hoped the the flip-flopping on planning decisions was a thing of the past. They also hope that fast tracking approvals for the area was a key priority. “Now that the government has been elected it’s time to accelerate the development … we need to do this as a matter of urgency,” she said.
We believe that the planning guidelines are a major win for the area. There are extensive provisions for green and open space, varying height limits and variation in built environments. There are also plenty of schools, community engagement areas and cultural and art precincts planned. The area has provision for new tram and train routes, some of which will be completed in the medium term.
Many parts of the urban renewal precinct will benefit from lower than anticipated building heights and the area overall will form a thriving neighbourhood village. To find out more about the area in detail get in touch with us and we’ll be happy to spend time with you.
Check out this article for some of the key stakeholders in property as to the impact from the election outcome.