Plans for more than a dozen approved developments in central Geelong could be fast-tracked to construction if the City of Greater Geelong’s bold idea for a Special Economic Zone gains support during the state election campaign.
Government fees and charges have created a deadlock for developers to start construction, stopping the creation of hundreds of new jobs and homes for 2,500 new residents which would ease Geelong’s housing shortage.
A Special Economic Zone would include land tax and stamp duty concessions, reductions of government fees and charges, financial schemes for apartment pre-sales, fast-tracked planning approvals and infrastructure funding.
The City of Greater Geelong has presented the plan to the State Government and the Opposition and is urging bipartisan support. The City of Greater Geelong also wants to work with both parties to ensure planning settings facilitate commercially viable developments that deliver a high-quality urban environment while providing certainty for the community and development sector.
“We have done the hard work, the permits are approved, the plans are ready, the vision is set,” said Mayor Stretch Kontelj OAM.
“Every month these permits sit idle is a month of lost jobs, lost residents and lost momentum. We’re not asking for a handout. We’re asking for the tools to finish what’s already been started.
Geelong is ready – we need Spring Street to be ready too.”
There are 14 approved developments representing 1340 new homes in central Geelong, but few are moving.
Between Geelong Train Station and the Waterfront four permits have been issued with no progress, in the Retail Precinct seven permits have been issued with no progress and in the Medical Precinct two permits have been waiting for construction to start.
“If every one of these approved dwellings were delivered, central Geelong would leap 20 per cent closer to our Central Geelong Framework Plan target of 6,000-plus new dwellings by 2051 – and welcome more than 2,500 new residents, effectively doubling the CBD’s current population,” Mayor Kontelj said.
“Our proposal is that an SEZ would lead to more housing, more businesses, and more people and greater vibrancy in the city – as they have done in more than 130 countries around the world.”
“More people living, walking and spending in the heart of our city means a stronger visitor economy, more jobs and a Central Geelong that finally lives up to its potential.
“The opportunity is sitting right in front of us. What’s standing in the way is process, not appetite.”
“With the state election approaching, the City is calling on all parties and candidates to back a Special Economic Zone for Central Geelong. This cannot be a political football – it is a practical fix for a city that has done everything asked of it and is still waiting.”
