Property experts and business leaders have welcomed two recent announcements by Griffith City Council – the extension of a cost saving program for developers; and progress made on the sale of council land at Lake Wyangan.
Both measures have potential to stimulate the building of houses in the Griffith area – something desperately needed at time rents are soaring and a vacancy rate is less than one percent.
A council program provides for a rebate to Section 94A contributions – or payments developers have to make to support infrastructure and services. At the ordinary council meeting on Tuesday, council voted to extend their rebate program a further 12 months, meaning developers who build in Griffith will continue to benefit from the cost saving.
At the meeting council also decided to enter negotiations with Scremin Investments and Zeplan Developments regarding potential sale of its (Council's) two plots of land at Lake Wyangan.
Brendan Catanzariti of Elder Real Estate, who is managing the sale of of a 17.5 acre plot next to the council land, is encouraged by the news.
“If the council land is sold, they’ll be more investment in infrastructure, which in turn will encourage more developers. I can see Lake Wyangan really opening up as an area full of residential housing”.
Mr Catanzariti, also said the extension of the developer rebate was “a very positive thing for the property market”.
Griffith business chamber president Paul Pierotti agreed.
“We welcome this move from council. There’s never been a better time to invest in Griffith and we encourage businesses to come.”
Both men warned of the need to defend Griffith base hospital, saying allowing downgrades will discourage growth.
“The first thing people want to know when they’re moving here is whether we have good health care. People won’t come if they have to travel to Wagga for medical treatment,” Mr Catanzariti.
Mr Stonestreet said council is now preparing a cost estimate to remove a redundant water pipe (made of asbestos) buried under on of their Lake Wyangan properties and will prepare a cost estimate for the safe disposal of this material.
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