New Nathalia residential subdivision
Publish Date: 23/01/2017
An economic analysis has identified a critical shortage of residential land for development in Nathalia.
To help address this, Northern Victoria Finances (owner of Nathalia and Numurkah’s Bendigo Community Banks) and Moira Shire Council have entered into a joint venture agreement to develop a 23 lot residential subdivision in Nathalia.
Council last year initiated a municipal wide economic analysis by Urban Enterprise. This analysis included Council staff, along with Urban Enterprise representatives, speaking with township groups and a range of businesses.
It was found that although there was job growth in town, a lack of residential land was restricting this growth.
Moira Shire Mayor Gary Cleveland said business owners and industry representatives indicated new employees to the town often found it difficult to find appropriate housing. It was reported that a large number of teachers in the local schools were forced to live elsewhere due to the lack of housing choice and new developments.
Northern Victoria Finances approached Council with the proposal to develop a high quality residential estate on Bourke Road in Nathalia.
This proposal has been endorsed by Council and the joint venture arrangements recently received approval from the Local Government Minister.
“This is a win-win situation,” Mayor Cleveland said.
“This addresses the need for suitable residential land in Nathalia and could stimulate future development.
“Our investment in the project should deliver a better return than we can otherwise achieve and of course the developed land will contribute to rates. The Shire wouldn’t normally get involved in residential land but we were particularly keen to again partner in a great project with Northern Victoria Finances.”