Australia’s leading developer of masterplanned communities, Stockland, has acquired a 138 hectare parcel of land at Truganina, one of Australia’s fastest growing residential corridors.
The proposed new residential community includes plans for over 1,600 homes and is adjacent to Stockland’s 315 hectare Mt. Atkinson project. The purchase expands Stockland’s consolidated land area to around 450 hectares and almost 6,000 future homes.
Stockland Group Executive and CEO of Residential Development, Andrew Whitson said: “The acquisition of this prime residential site expands our capacity to supply affordable new homes for Melburnians, in highly liveable masterplanned communities.
“Melbourne is experiencing strong economic and employment conditions and the highest rate of population growth in the country, where we now have more than $2.5 billion invested across 12 residential communities in the major growth corridors,” Mr Whitson said.
Stockland General Manager for Victoria, Mike Davis, said the new community will be one of Melbourne’s most accessible and liveable precincts given the strong focus on infrastructure development in the area, including the duplication of the Melton railway line currently underway and recent completion of Caroline Springs Railway Station.
“The new Truganina project will include a range of housing options and is surrounded by everything future residents need, including world class schools, childcare facilities, a significant town centre, playgrounds, public open spaces and a business precinct to connect people to jobs.
“We look forward to working with authorities on next steps to bring this new community to life and help more Victorians move into their own new homes,” Mr Davis said.
The property is located within the broader Mt. Atkinson Precinct Structure Plan, which was approved by the Victorian government in August this year and facilitates the delivery of infrastructure including schools, a new train station, bus services, community facilities, a major new town centre and employment precinct.
Located around 25 kilometres west of Melbourne’s CBD in the suburb of Truganina, the property is less than three kilometres from the existing Rockbank and Caroline Springs train stations, and adjoins the proposed future Outer Metropolitan Ring Rd (OMR).
Community infrastructure planned within the project includes:
- Government primary school
- Community activity centre
- Local retail convenience centre
- Local 5.5 ha sports reserve
- Three local parks
- Mt Atkinson Reserve.
Stockland will own and develop the new community, with pre-sales and construction forecast to commence in 2018.