Work is set to begin on a new development in Melbourne’s south west which will add thousands of properties to existing stock levels.
The new suburb of Harpley, next to Wyndham Vale, will consist of 4,000 new homes as well as a waterfront town centre.
Developer Lendlease will deliver the 435-hectare project.
Planning minister Matthew Guy said the estate would attract investment in Melbourne’s south west region.
“This suburb represents a $1 billion investment in the future of Melbourne's outer west and ultimately will provide homes for up to 12,000 residents as well as key transport links and open space,” he said.
“The suburb will showcase development and activation of a water-oriented town centre to help entice commercial investment, create jobs and provide high amenity for residents, workers and visitors in one of Australia's fastest growing areas.”
The master-planned community will provide three schools, a local community centre, sports and recreation facilities and 60 hectares of waterways through the town centre.
Lend Lease plans to release the first lots on to the market in April 2015.
The town centre will be completed in stages, with the final work on the suburb to be finished within 12 years.