Surf Coast Times
Tuesday 16 August 2011
VOL 9. No 33
www.surfcoasttimes.com.au
FREE WEEKLY
The Bellbrae Primary School community celebrated the school’s 150th anniversary on Saturday. It was a grand day out for families and a history lesson for all. Walking down memory lane were current and former students and friends of the school who enjoyed the historical memorabilia on show. Among those who took part in the festivities were students, from left, Summer Harvey, Ruby Issell and Chloe Salvador.
Photo: PETER MARSHALL
BLOCK-AID New development in Torquay to give housing a boost
BY HAMISH BROOKS THE latest application for a new, large housing estate in Torquay is set to reverse the negative trend in building approvals revealed by the latest Housing Industry Association figures. Ritzcorp Developments’ application for an 882lot development bordered by South Beach Road, the Surfcoast Highway and Horseshoe Bend Road coincided with the release of the figures which, according to HIA economist Mathew King, revealed an eight per cent drop in housing approvals across the Barwon region in the last financial year. “In original terms, there were 2,762 dwelling
approvals over the financial year 2010/11 compared with 3,001 over 2009/10,” he said. “We would expect the Barwon region to follow the overall Victorian outlook over the short to medium term, that is, a cooling of activity after unprecedented rates of building. After enjoying a stellar two financial years, new home building activity will decelerate considerably over 2011/12.” He said a number of factors including above average lending rates, a constrained credit environment and a lack of residential land supply will culminate to force a substantive slowdown. However, the latest estate bid would contradict
Surf Forecast
“We’re going to do it in stages – and unless there’s another big meltdown where the whole world stops – we should have 100 to 140 lots ready to develop by November next year.” While the application is for 882 lots, the area of land contains a seven-acre block and house not owned by Ritzcorp, which fronts on to South Beach Rd and brings the actual number of lots to be developed down to around 850. It was included in the application at the council’s request so the development did not impinge on the residents’ road access. Most blocks on the development will offer ocean views.
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this trend, or at least soften the blow. Ritzcorp Developments joint managing director John Minuzzo said there were still a lot of boxes to be ticked before a house was built on the land, but all things going to plan they’d have at least 100 blocks ready to be developed by November next year. “Once we get the go ahead from council we’ll have to get the engineers in for all the infrastructure works, plumbing, sewage, roads and the like,” he said. “We’ll then have to put that out for tender to get companies in to build the roads. “We’ve been talking with local agents and talking to builders and once the infrastructure is in we’ll put up display homes.
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