Wednesday 31 July 2024
MEDIA RELEASE
Positive Step Forward with TOD Changes: Property Council
The NSW property sector has welcomed government plans to expand Transport Oriented Development (TOD) at five locations – Dapto, Gosford, Tuggerah, Banksia and Rockdale.
Minister for Planning and Public Spaces, Paul Scully, announced the changes ahead of his address today to the Illawarra Chapter of the Property Council of Australia.
Property Council NSW Executive Director Katie Stevenson said the TODs were a once in a generation opportunity to tackle the housing crisis.
“Faster, smarter planning means more homes sooner. As one of the lead advocates for the transport-oriented development reforms, we’re thrilled to see state and local governments setting a strong pace and keeping flexibility front of mind.
“A housing crisis needs a crisis response, and we need to remain flexible in the approach to development in all the TOD precincts,” she said.
Ms Stevenson said governments at all levels should stay alive to the need to expand the scope and ambition of the TOD program and to incentivise development.
“Dire economic circumstances are having a huge cumulative impact on project feasibility and delivery. The latest dwelling approvals were less than half what we need to meet our Housing Accord target, and quarterly construction starts are at their lowest since June 2012.
“We’ve called for the focus areas of TOD locations to be larger, so it’s good to see government taking on industry feedback to allow delivery of new homes over a wider catchment area.
“Ongoing engagement with industry is vital to make sure we make the most of the opportunity offered by the TOD program,” Ms Stevenson said.
Ms Stevenson said the Property Council will be responding to consultation on TOD rezoning proposals for seven more TOD precincts in the coming weeks.
“As today’s announcement demonstrates, it’s clear that more can be done to deliver more homes in the 37 TOD snap rezoning precincts.
“We need more consideration of the expansion of the site area from the default 400m to at least 800m, more discussion with industry on maximum building heights, and greater clarity over future sites under to give industry more certainty,” she said.
ENDS
MEDIA: Andrew Parkinson | 0404 615 596 | [email protected]