10 Victorian suburbs that may benefit under $1 billion of new public infrastructure

With $1 billion in direct investment to be poured into Victoria through the Station Precinct Enhancement Program it’s unsurprising that many investors are asking where the money will be spent.

Under the funding, more than 3,000 direct project delivery jobs will be created and underutilised government land will be unlocked to deliver housing, retail, commercial and public spaces for communities, as well as improved railway stations.

The funding was announced by Premier Denis Napthine who said that there would be a number of benefits to many communities.

“The program will deliver a significant economic boost to Victoria. It will create more than 3,000 direct project delivery jobs, a further 5,000 indirect jobs through construction and the potential to support more than 800 full-time commercial and retail jobs after project completion,” said Napthine.

Meanwhile, Minister for Public Transport, Terry Mulder, said that there have been 10 sites that have already been identified, including two where the improvements have already been brought to the market – at Jewell and Hampton. Alphington expects to see an expressions of interest process mid-2014.

“This program will deliver the right mix of housing, retail, commercial and community spaces located right next to the rail corridor, which will in turn create vibrant, dynamic, liveable and accessible places – places where people want to live,” Mulder said.

In total, there will be 10 Victorian suburbs for development, with the other seven currently being investigated:

1. Jewell
2. Hampton
3. Alphinton
4. Essendon
5. Windsor
6. West Footscray
7. Collingwood
8. East Richmond
9. Ringwood
10. Watsonia

MacroPlan Dimasi, a research hub used by developers and other bodies, has undertaken economic modelling that has shown that the 10 sites will facilitate further investment opportunities – to the tune of $1 billion – over the next three to five years, as well as $5 billion in economic stimulus.

And, Napthine announced, there will be a competitive process for the release of the land for both private sector investment and development.

“The program will deliver developments across metropolitan Melbourne of varied scale appropriate to their location, with the community and public transport users benefiting via new and upgraded facilities in the surrounding station and broader precinct,” he said.