Residential developments to stabilise market
Land releases and affordable housing options are set to come back on to the market in Alice Springs in the Kilgariff sub-division project.
This project is being fast-tracked in the hopes of stabilising the housing market, said minister for infrastructure, Adam Giles.
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“At the Alice Springs housing forum in 2008 there were plenty of glossy brochures that outlined ideas for residential development across the town, including the Kilgariff subdivision,” Mr Giles said.
Currently, the site is largely undeveloped despite $3.5 million being provided in the previous budget.
However, unused funds are being fast-tracked into the development to build a ‘spine road’ to the middle of the site, as well as the key drainage and essential services work.
“The Territory Government’s priority is to make sure home blocks are developed so they can be put on the market in a timely manner. We want to stabilise the housing market,” he said.
Works could be completed as early as 2013.
