A $2 million residential development in west Deniliquin has passed the first stage in the approvals process.
Edward River Council last week approved a development application to build the 15 two-storey units on vacant land in Henry St, on either side of Ballantyne Crescent.
The units will be developed by Wollongong-based company 8 Figure Developments, and will be called ‘The Terraces’.
Mayor Norm Brennan said while the project still needs to satisfy some requirements before a construction certificate can be issued, it was progressing well.
Cr Brennan said the project would have far reaching benefits for the local community.
‘‘The immediate benefit will be in the building process, and then there’s the opportunity for more housing — to rent or buy — being made available.
‘‘Only recently local real estate agents said our remaining rental capacity is about one per cent.
‘‘We have not had much large-scale residential development in the Edward River Council area and it’s good to see someone has the confidence to invest in our region.
‘‘With other developments for the region pending, this is a timely project.’’
When it announced the intention to build in Deniliquin, 8 Figure Developments director Steve Temelkovski said it was the infrastructure projects already in play in the area which inspired their confidence.
He cited excitement in the push to have an air freight hub created in Deniliquin, the proposed solar farms at ‘Tarleigh Park’ and ‘Currawarra’ and the ethanol plant in particular.
Since then, Edward River Council has entered into a lease agreement for the Murray Valley Field Station to be developed and used as an agricultural research and education facility, mainly by Chinese students and researchers.
Mr Temelkovski said construction of the new buildings should start late in 2018.
‘‘We have been working closely with Edward River Council and we are very pleased to have our development application for The Terraces approved,’’ he said.
‘‘When completed, Deniliquin will have a high quality residential housing development to rival any from the big capital cities of Australia.
‘‘The Terraces will be selling off the plan with building to hopefully commence toward the end of the 2018.
‘‘Sales and marketing of The Terraces will start in the new year, as of February, and anyone interested can register their interest by sending an email with contact details to [email protected]’’
The Terraces units are expected to appeal to families, couples and professionals and ‘‘bring a touch of the city to the country’’.
Each unit is expected to include a courtyard at the front, double garage, air conditioning, and modern LED lighting.
Individual pricing of the units is yet to be determined.