Private sector partners sought to join Homeswest in land development projects

29/9/96

Housing Minister Graham Kierath today announced opportunities for private sector developers to join with Homeswest in several land development projects, similar to the successful Ellenbrook model in Middle Swan.

Partners are sought for the development of land parcels in Armadale, Geraldton and Capel, with the potential for the creation of up to 7,000 housing lots in total.

"A range of different investment scenarios will be considered when looking at expressions of interest from potential partners on the different projects," Mr Kierath said.

"We offer considerable flexibility and want innovative ideas to help develop the natural environment in each of the different areas."

A recent joint venture between Homeswest and private partner Sanwa Vines Pty Ltd to develop the new housing community of Ellenbrook has been an outstanding success with strong sales in a depressed land and housing market.

Ellenbrook is designed around the concept of seven villages each with its own theme.

Mr Kierath said the estate used the 'enhanced natural' concept with modern facilities integrated with the natural features of the site and set against the backdrop of the attractive Swan Valley and hills areas.

"One of the advantages to private developers of joining forces with Homeswest is the guaranteed pre-sale of at least one in every 12 lots back to the housing agency to provide high quality, affordable rental accommodation," Mr Kierath said.

"The experience gained by Homeswest in the development of Ellenbrook will be a valuable asset for any potential development partner."

The three joint venture opportunities open for expressions of interest are:

·       In Geraldton, where Homeswest holds a 153ha parcel of elevated land at lot 263 Ackland Road, Wandina. Situated about 4.5km south of the town centre, the land offers the potential for a yield of around 1,500 residential blocks.

·       In the Shire of Capel at Dalyellup between Geographe Bay, Centenary Road and Bunbury, where Homeswest holds about 612ha. The land is currently zoned 'rural' but some 220ha are identified as 'future urban' under a district plan which suggests a development potential of around 3,200 dwellings.

The land offers scope for a residential 'village' development to encourage a sense of community and containing a large element of medium density and 'green street' housing to keep urban development away from areas of environmental significance.

·       In an area known as Forestbrook to the south of Armadale, where Homeswest holds undeveloped land of around 256ha About 63ha are zoned urban, with the balance currently zoned rural but identified in various district and regional strategies as future urban. The potential yield is for some 2,200 residential lots.

Also proposed is an estate improvement project for adjoining land. Existing Homeswest properties would be refurbished and up-graded and some of them sold to the private sector to encourage a more even spread of Homeswest accommodation in the community.

An information package on the joint venture opportunities is available from Glenn Finlay of Homeswest on 222 4850.

Media contact: Steve Manchee 481 2133