$80 million Geelong housing project underway
A multimillion dollar housing project earmarked for Geelong is underway, boosting the local property sector with the construction of more than 300 dwellings.
Victorian housing minister Wendy Lovell announced the next phase of the $80 million New Norlane Project yesterday (August 15), revealing the building contractor awarded to the project.
The housing development, one of Victoria’s largest, will provide first-time buyers more property options in the Geelong region with 160 private homes and a display village to be constructed as part of the project.
For homeowners looking to purchase an investment property in the Melbourne area, the Geelong housing development may be an attractive option with cheaper prices than the state’s capital.
Ms Lovell said 14 public homes had been built so far, with the remaining 306 dwellings to be delivered over the next three years.
“This project will revitalise Norlane, with a mix of public and affordable private housing, along with new local opportunities, jobs and investment,” Ms Lovell commented.
“The $80 million project will include homes for private sale, with new homes well-suited to young families. A display village with some of the best value new homes in Geelong will be set up in Norlane.”