This article is from the Australian Property Journal archive
CONSTRUCTION is underway at Riverlee’s $2 billion master planned community in Melbourne’s north.
The groundbreaking ceremony on the New Epping community, which was attended by the Minister for Housing and Planning, Richard Wynne, acknowledged the beginning of Stage 1 works for the project.
Stage 1 will include a mix of social and affordable homes to be operated by Haven; Home, Safe, as well as the $133 million development of 126-bed Northern Private hospital, to be operated by Ramsay Health Care.
The mixed use development will make use of space once utilised by the Epping Quarry, in one of the country’s biggest urban renewal projects.
“Our vision for New Epping will take urban regeneration to a new level and bring an inner-city offering to the suburbs. The site no doubt has its challenges and we thank the state government for recognising the needs of this region by fast-tracking the work under the Building Victoria Recovery Taskforce,” said David Lee, development director for Riverlee.
The total project will be developed over a 10-15-year period across 51-hectares, with health, residential and commercial assets. New Epping will provide $4.7 billion in economic benefit to the state, as well as 5,000 new jobs throughout construction, with capacity for more than 3,100 workers on site.
“Together with our project partners, local council and the state government, we are excited to be commencing Stage 1 at New Epping – a project that will play a huge role in meeting the healthcare and housing demands of this growing area. The diverse mix of housing, health and commercial uses will create a vibrant culture and community with a focus on wellness and sustainability,” said Lee.
Works during Stage 1 will also incorporate key infrastructure development, such as the 11-hectare “green spine” which will connect the community.
While the Northern Private Hospital, which was approved in December 2020, will become the sole co-located private hospital in the area, with the current Northern Hospital to be connected with a link bridge.
“We have a 57-year history of leading the way in Australia’s private health care sector and look forward to playing a greater role in providing the local population with vital health care services through the construction of Northern Private Hospital. Our patients will be able to access a broad range of treatments across a multitude of specialties,” said Austin Wills, Victorian state manager for Ramsay Health Care.
The residences will deliver a much needed additional supply of social and affordable housing to Melbourne’s north, with the shrinking stock of affordable housing recently being linked to diminishing urban productivity, through a survey of experts and most recently a major inquiry.
The city of Melbourne’s Council endorsed the Affordable Housing Strategy 2030 back in December, which calls for 25% of all future residential developments on council-owned land dedicated to affordable housing.
While the state government committed $5.3 billion to public and community housing in November, under the Big Housing Build policy, which will deliver 12,000 new homes throughout metro and regional Victoria.
“The Stage 1 residences are a sound investment in the community and demonstrates how the private and community housing sector can work with government to deliver quality forms of housing in terms of architectural design, environmental outcomes, and internal space planning,” said Damien Tangey, chair at Haven; Home Safe.
