Page 1033 - Week 04 - Tuesday, 19 March 2013
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Denman Prospect englobo 1 contains land zoned for about 90 hectares of low density single residential dwellings and four community parks, around 8.5 hectares of medium density residential dwellings and around six hectares of high density residential dwellings. It will also include a local centre including convenience retail and specialty shops, a childcare centre, a church, and around 3.7 hectares of open space nature reserve and other open space.
Denman Prospect englobo 1 will be the largest englobo land sale to a private developer to occur in the territory. It provides a significant residential opportunity for land developers. The direct economic activity associated with this englobo development, and the subsequent building works, will be in excess of $500 million over the life of the project.
The developer of Denman Prospect englobo parcel No 1 is required to ensure 20 per cent of homes are within the affordable housing benchmarks. The site was first advertised in December 2012 seeking interested parties to participate in a restricted auction, which is scheduled to occur in May this year.
A single developer being responsible for this large site will ensure an integrated development for the section of Denman Prospect south of Cravens Creek, giving the area a consistent look and feel. The developer will be required to design and deliver the local centre for the suburb of Denman Prospect. The childcare and church sites will be serviced by the developer and then returned to the territory.
The LDA is currently undertaking planning to deliver the remaining dwellings located in the suburb of Denman Prospect and is committed to continuing to develop sustainable communities in this area.
MADAM ACTING SPEAKER: Supplementary, Mr Gentleman.
MR GENTLEMAN: Minister, how many properties are in Denman Prospect, and over how many years will they be released?
MR BARR: Molonglo stage 2 is expected to deliver around 7,000 dwellings and is expected to be home to around 18,000 residents. Denman Prospect itself is anticipated to deliver up to 3,500 dwellings, which will be delivered to the community over the next 10 to 15 years in a staged process. Under the terms for the Denman Prospect englobo 1 sale, the developer has 12 years to complete the development. Should the developer deliver the maximum dwelling yield of 1,700 dwellings, this would equate to around 150 dwellings per year. Clearly this is an important part of the ACT land release program and will become a fantastic place to live for thousands of Canberrans.
MADAM ACTING SPEAKER: A supplementary, Ms Berry.
MS BERRY: Minister, what public infrastructure will service this area?
MR BARR: The plans for Denman Prospect include a primary school, to be located near the local centre, as well as a P-10 school. Both of these schools have been
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