NT residential real estate developments under review
The Northern Territory government has unveiled plans to boosting housing stocks in Darwin - a move that may attract the interest of residential property investors.
Minister for lands, planning and the environment Peter Chandler said several land sites are being reviewed to ascertain their potential for housing developments.
The Sports House at Fannie Bay in Darwin's inner-city suburbs is one area being assessed, the minister added.
"The country Liberals first flagged Sports House as a suitable site for potential housing redevelopment back in 2008.
"The 1.45 hectare site is among several sites currently being identified by the territory government to deliver housing to Territorians as quickly as possible," Mr Chandler explained.
Sports House has significantly deteriorated over the years, the minister said, adding that this makes it just one of several prime locations that would flourish under a residential property development.
Investors looking to purchase real estate in the Northern Territory may also be encouraged by news that an $8 billion ilmenite mine has been approved in the Roper area - generating millions of dollars into the local economy as a result.
Minister for mines and energy Willem Westra van Holthe gave the final go ahead to the Australian Ilmenite Resources SILL80 Projects mine earlier this week (March 25).