This article is from the Australian Property Journal archive
THE first slab has been poured at The Mills residential development in the Derwent Valley, a key part of the Tasmanian government’s $500 million investment in the region.
The development, located in New Norfolk, will deliver 700 new homes to the Derwent Valley area, adding significant supply to the market to meet increasing demand for lifestyle living locations.
Construction is now underway at the Queensland-based Noble Ventures’ residential and community precinct, which includes the former Royal Derwent Hospital site and is just 550 metres from the New Norfolk town centre.
“I thank Noble Ventures for their vision to bring this project to life and I can’t wait to see these 700 homes built here in New Norfolk and the associated benefits to the Derwent Valley region,” said Michael Ferguson, minister for state development, construction and housing.
The government is working to meet their goal of adding 3,500 of housing stock to Tasmania by the year 2027.
The Mills is also part of the state government’s investment into public and social infrastructure, with $15.5 billion Tasmanian Infrastructure Pipeline for the next decade.
Additionally, The Mills is expected to add more than 1,000 jobs each year to the local construction sector between 2021 and 2040.
“In recognition of the important role the building and construction sectors play in supporting our economy, the Tasmanian Liberal Government has committed additional initiatives with the view to further stimulate the economy and support jobs,” added Ferguson.
The Mills will include, hotel accommodation, community facilities, such as a community park, childcare and medical offerings, including a 100-bed hospital, in future phases.
Earlier in June, Noble Ventures lodged their plans for a 200-bed retirement village within the development, with the Derwent Valley Council, with remaining applications expected to be submitted by years end.
The Mills will also include retail offerings, such as the commercial co-op, which will become a hub for Tasmania produce, with room for more than 70 traders.
