A fresh new Plan for Melbourne

A fresh new Plan for MelbourneThe Property Council welcomes the release of the Plan Melbourne Refresh and commends Government on their strategy for implementation. Property Council Victorian Executive Director, Sally Capp, said the industry supports the inclusion of agency responsibilities and reporting detailed in an Implementation Plan. “This is a commonsense approach to planning. One example is the inclusion of Fishermans Bend as a National Employment Cluster; this futureproofs the Plan and complements other Government ambitions. When combined with regular reporting and a review of Plan Melbourne in 2022, this creates confidence for the industry.” “It is however important that the Government comes to the table to deliver these outcomes, in particular when it comes to funding infrastructure in the growth areas.” “Of most concern to the Property Council is the potential impact of these policies if they do not receive timely infrastructure funding support from State and Local Government. To ensure supply can keep up with demand in outer Melbourne, Government must allocate and spend adequate resources and funding, and take a lead role in the delivery of infrastructure,” said Ms Capp. “It is essential that the approval of Precinct Structure Plans does not slow to accommodate infrastructure funding constraints, particularly when demand is so high. Instead, Government funding and resourcing must increase to attain the 20-minute access that the Plan outlines. The Property Council looks forward to working collaboratively with Government on achieving successful policy outcomes from Plan Melbourne. “These policies must now be assessed in light of the changes to stamp duty concessions which were announced late last week. If apartment developments do not receive adequate presales due to lack of investor purchases, they simply will not go ahead. This needs to be considered as it will impact Government’s aspiration for 70 per cent of our housing to be delivered by infill developments. “We encourage initiatives that deliver good housing outcomes and appropriate development for Melbournians. Providing certainty regarding locations for and the amount of growth in established suburbs is paramount for both the industry and communities. “The Plan Melbourne Refresh is an opportunity for us as Melbournians to ensure we maintain our livability, affordability and productivity ambitions,” said Ms Capp.Media contact: Sally Capp | M 0439 983 963 | E [email protected]