Colac Otway Shire Council has announced the $2.6 million sale of a 4.2 hectare site in Colac to regional property development company, TW Projects.
Mayor, Kate Hudson said Council was excited to have TW Projects on board with plans to develop the land at 36-52 Bruce Street into residential housing plots.
“They understand how to create land that will support quality residential homes for future generations, and have also included a social housing outcome which is very important for Colac,” she said.
TW Projects Director, Jack Townley said the project would have a significant focus on sustainability and would assist in providing needed land supply to the area.
“We’ve had some really great dealings with Colac Otway Shire Council throughout the whole purchase and we’re really excited about the opportunity to work with them to deliver a high quality residential estate,” said Mr Townley.
He said TW Projects would offer purchasers in the Bruce Street residential development a 5KW solar package to ensure the ongoing cost of living was reduced, while also reducing the area’s carbon impact on the environment.
As part of the sale conditions, three lots for social housing will also be created and provided back to Council who will seek other partners to develop and manage these sites, Mr Townley said.
“This will be a fantastic opportunity for anyone looking for an affordable lifestyle close to major employment centres and educational facilities,” said Mayor Hanson.
“Its location close to Lake Colac and the Botanic Gardens will make this also a desirable development. We look forward to seeing TW Projects turn this 4.2 hectares into much-needed housing outcomes for our community.”