This article is from the Australian Property Journal archive
THE NSW government has signed a project delivery agreement with the Office of Strategic Lands and Landcom.
Landcom, the state government’s land and property development organisation will enter a partnership with the OSL’s Planning Ministerial Corporation to look into possible surplus lands available for development.
The potential proceeds from this surplus land will be re-invested into the acquisition of new open and public space for the NSW Government. With potential sites of surplus land located in Austral and Rooty Hill.
“OSL and Landcom continue to collaborate to increase housing supply, improve housing affordability, add economic value and bring public benefit across Greater Sydney,” said Alex O’Mara, group deputy secretary, place, design and public spaces.
“This agreement is particularly satisfying because OSL’s proceeds will be re-invested in the acquisition of new public space, resulting in great social and environmental benefits for people and communities,” added O’Mara.
The Project Delivery Agreement states that both OSL and Landcom share both the risk and the benefits of any projects within the agreement, with specific state-owned lands identified as surplus that can be investigated by Landcom and if found viable, develop, market and sell.
The agreement also outlines that the OSL and Landcom must also meet objectives that include housing diversity, affordable housing, urban design excellence and/or ecologically sustainable development.
“This agreement is a fantastic example of Landcom working with a NSW Government agency in order for us to create more affordable and sustainable communities for the people of NSW,” said John Brogden, CEO of Landcom.
“Affordable and sustainable development is at the heart of everything we do at Landcom and we will reserve at least five to ten per cent of the homes delivered under this agreement for affordable housing,” he said.
Landcom and OSL have completed past joint projects including Bunya residential lands, Rouse Hill Regional Town Centre and West Huntingwood Employment Lands.
