Revealed: New suburb to drive jobs, population growth and investment

By Reporter 28 September 2012 | 1 minute read

A $1 billion housing development has been opened as one of the largest infill projects undertaken in Melbourne’s growing south east corridor.

The development, in Keysborough, was opened officially yesterday by planning minister Matthew Guy.

The 120 hectares’ transformation has turned under-utilised land into ‘Somerfield’ a new neighbourhood that will house 7,000 residents in 2,000 homes.

Mr Guy explained that this is part of a number of initiatives to “increase the supply of housing, to maximise land use to boost jobs, drive investment and provide housing choices to suit a range of budgets.”

He explained that the new community would benefit from the closeness to Greater Dangenong’s revitalisation as a population and business hub, as well as a focus for infrastructure injections.

“Thousands of construction jobs have already been created from the existing 500 homes built, and thousands more jobs will be generated by the project as more residents build their homes and move in.

“The local community will have access to great transport connections with the EastLink freeway and soon to be completed Dingley Arterial,” he said, pointing to jobs in Dandenong and surrounding key employment areas as those that will benefit from “flow on spending” of the residents.

RELATED TERMS

Investment

An investment is an asset or item purchased with the expectation that it will generate income or appreciate in value in the future.

Population

A population is a group of individuals who are inhabitants of a particular location, region or country.



Revealed: New suburb to drive jobs, population growth and investment
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