Planning for a new greenfield suburb in Clyde South is set to be funded in the upcoming 2025-’26 State Budget.
Days ahead of the budget, the State Government announced $12.1 million for precinct structure plans at Clyde South and Derrimut Fields in Melbourne’s west.
It will pave the way for 13,200 new homes and 8600 jobs in the two precincts, according to the Government.
In October, the 1057-hectare Clyde South precinct was identified in the government’s 10-year plan for 27 new greenfields on Melbourne’s outskirts.
Also in the pipeline are the adjoining Casey Fields South Employment and Devon Meadows precincts.
The three precincts are expected to home nearly 37,000 extra residents by 2041, according to City of Casey’s Vision for Remaining Growth Areas.
Higher density development would be focused upon location such as the future Clyde railway station and Clyde Major Town Centre, with local jobs available in the Croskell and Casey Fields South Employment precincts, the vision states.
In response to home affordability concerns, the State Budget will also include $61 million to extend a stamp duty tax concession scheme on off-the-plan apartments, units and townhouses for a further 12 months.
It equates to a tax saving of about $28,000 for all Victorian buyers of an eligible $620,000 apartment.
There is also $24 million for funding towards 50 ‘Train and Tram Activity Centres’ to help densify Melbourne’s inner and middle suburbs.
