Planning Minister officially opens $1 billion Keysborough residential development
A new residential land development – in Melbourne’s popular South-Eastern corridor – was officially opened on Thursday 27 September by Victorian Planning Minister, the Rt Hon Matthew Guy.
Intrapac Projects, in a joint venture with Brencorp Properties, have completed over half of the Keysborough development ‘Somerfield’, which will eventually encompass some 1800 homes with an end-value in excess of $1 billion.
Minister Guy unveiled a commemorative plaque which will be displayed in the newly completed wetlands area.
Somerfield’s appeal to buyers stems from its prime location between the suburbs of Waterways and Dingley Village and its close proximity to existing infrastructure and amenities such as Haileybury College and Chadstone, Parkmore and Southland shopping centres. Residents can access the CBD within 25 minutes via the Eastlink and Monash freeway, with local beaches and other recreational facilities less than ten minutes drive away.
Minister Guy detailed how the City of Greater Dandenong is thriving with increased focus and development in the area, with Somerfield as a shining example of what can be achieved in a traditionally non-growth area.
The Urban Development Institute of Australia (UDIA), the peak body representing the property development industry throughout Australia, has recognised Somerfield as a leading “EnviroDevelopment” in Victoria.
Tony De Domenico, Executive Director, UDIA Victoria says, “Somerfield has achieved EnviroDevelopment certification and is an excellent example of the Victorian development industry’s sustainability credentials. Intrapac is at the forefront of developing sustainable and affordable communities.”
The Victorian Department of Planning and Community Development hopes to see the state in four or five years showcase leading examples of urban development projects which include expansive green spaces, as witnessed at Somerfield. Minister Guy stressed there needs to be changes to the current planning system to meet the needs of both developers and homeowners.
David Payes, Executive Chairman of Intrapac, said Somerfield has proven to be a highly successful residential project, incorporating sustainable living with open green spaces, resulting in a strong community atmosphere.
“As with all our projects, providing a sustainable and environmentally friendly product is at the forefront of all our design decisions, visible through the availability of recycled water for all homes, an abundance of outdoor spaces and quality design throughout. In terms of an investment opportunity, buyers have seen property prices in Somerfield maintain their value far better than surrounding areas since initial purchase.
“We are extremely pleased with our progress in this landmark project, and were delighted to have the Minister officially open the development. Creating a sense of belonging within Somerfield has been essential to its success, and families living in any one of the six neighbourhoods are provided with parks, wetlands and bike trails, right on their doorstep. The development of a new medium density precinct, Aura Park, will make Somerfield even more accessible to those looking to live in the area.” Mr Payes said.