House and Land Epping, Investment Property Epping
Riverlee has just secured rezoning approval for a $2bn Masterplan
Epping will never be the same again, nor will surrounding developing towns such as South Morang, Wollert, Mill Park, Cambelfield, Meadow Heights, Roxburgh Park, Craigieburn, Greenvale and Wollert
When infrastructure to the tune of $2bn dollars is invested into any location, this creates jobs now and into the future. Jobs attract population growth which places upward pressure on the supply of housing. At the same time industry are attracted into the area also creating new jobs and attracting population growth. The combination emanates in capital growth potential and sound rental incomes.
The Epping Quarry Site is being designed to accommodate 2,000 new homes, 80,000 sq/m of commercial space, 200 aged care beds, 200 place childcare centre and a 300 bed hospital.
The design will incorporate 11 beautiful hectares of green space and recreational zones, also bicycle and pedestrian path throughout whilst rehabilitating the native vegetation and wetlands … keeping the area as green and clean as possible.
David Lee of Riverlee quoted that this masterplan is located in one of the fastest growth municipalities in Victoria located in the booming northern growth corridor and will provide new jobs and housing based in on planned economic activity to be generated fro the infrastructure project for the City of Whittlesea..
This will provide a major boost to the region in terms of new employment opportunities during and after construction, Lee said.
The City of Whittlesea estimates the population in the area will grow to around 379,000 residents by 2041 at an average rate of 2,800 new residents per year, and it is only 18km from Melbourne CBD!
This project is surrounded by significant and important infrastructure for lifestyle, jobs , education and more such as the Northern Hospital, Pacific Epping Shopping Centre, North Point Business Park, Epping Medical Centre, the new Melbourne Wholesale Fruit, Vegetable and Flower Market, Costco, Bunnings, Tafe, Universities and a whole lot more infrastructure.
The old quarry
What was once an income producing quarry providing locals with jobs, this same site will become a massive $1.2bn masterplanned mixed use community with the makings of becoming one of Melbourne’s more significant infill projects.
This massive 51 hectare site is planned to create a new Epping with mixed use infrastructure combining and expanding on existing valuable infrastructure to provide current and future key local services as a part of the larger Epping Activity Centre plans. More jobs, more people and more housing only 18 km from Melbourne CBD in strengthening its position as a major catchment area for Melbourne and also only 18 minutes from Tullamarine Airport by car.
How will Epping benefit and evolve?
Construction will generate 3,100 new jobs and create another 3,700 local jobs after completion, providing a planned $4.7bn in economic benefit to Victoria.
Riverlee Development Director David Lee said the New Epping site represented one of the most strategically sound locations to deliver a natural extension of the surrounding mixed-use environments while delivering a host of new and vital infrastructure to support the rapidly growing needs of the booming northern corridor.
“The population of Melbourne’s northern growth corridor is expected to almost double in the next 15 years to accommodate over 1.1 million people,” Mr Lee said.
“With this growth comes the critical need for a host of new services and infrastructure.
“Our vision for New Epping will seek to fill this need by creating an integrated mixed-use precinct encompassing a world-class health and aged care precinct, a new employment cluster, new retail and commercial services and a mix of affordable and upscale residential housing. Our aim will be to create more opportunities for the residents of Epping and the northern corridor to be able to live, work and access vital health and other services from within their own local surrounds.
“Given our experience in these complex projects and our passion for urban renewal, the Epping site complexities and challenges are what initially appealed to us. We immediately saw its immense potential and we have been working closely with council and other stakeholders to create a blueprint that will meet the current and future needs of the growing community.