Sydney's southwestern suburbs receive 10 billion funding to build 3000 low-cost houses
A number of development activities are being prepared in the southwestern area of Sydney. This series of expansion projects for residential and commercial areas is expected to cost 10 billion yuan.
It is reported that two locations in Potts Hill Business Park and Leppington East are undergoing major redevelopment, and investors are actively financing the reconstruction project. After the NSW government announced the rezoning news, Stockland Group facilitated the purchase of a 6-hectare plot of land in East Leppington in June this year for development and construction in the next few years. Stockland Group plans to build a community with more than 17 affordable housing units in the area, and the project is still in the first phase.
Matthew Quinn, general manager of Stockland Group, said that the land is ideally located near the southwest train link under construction and only 1.5 kilometers away from the planned Leppington train station. The transportation is relatively convenient. According to the approved plan, the first batch of new houses will be completed in fiscal year 2014. Quinn pointed out: "The newly built community will include a retail center, open spaces and entertainment areas. The total project value is expected to reach more than 10 billion yuan."
At the same time, Potts Hill Business Park at Sydney Water also attracted interest from real estate investors. This area covers an area of 116 hectares and is located in the southwest area, adjacent to the reservoir of the Sydney Waterworks, and is the mouthpiece of the city's water supply. This area has been operated and managed by the water plant for 120 years. Recently, the Sydney Waterworks decided to sell part of the land, so it launched a redevelopment plan in conjunction with the NSW development agency Landcom. The intermediary company said that 40 hectares of land in the area are currently being rebuilt, of which 15.77 hectares will be built into a new business district.