The City of Launceston has approved more than half a billion dollars in development in the past two years – setting a new record for the city.
Council approved 771 planning applications worth $383,657,211 in the 2020-21 financial year, smashing the previous record — set the year before — of 673 planning applications worth $215,005,934.
Launceston Mayor, Albert van Zetten said the scale of the development boom across Launceston was unprecedented.
“Despite the global pandemic, or perhaps in part because of it, investor confidence in Launceston is at an all-time high,” Mayor van Zetten said.
“These planning applications run the gamut, from Mum and Dad homeowners building an extension or a new deck, to large industrial and retail premises.
“For Launceston to be in a position where we have record developments in train is fantastic news.”
Of the 771 applications approved last year, 549 were for residential purposes worth a total of $167,133,796.
“As these various projects are built in coming years it will create an enormous amount of economic activity, new employment and new opportunities.”
“This will be extremely important as we look to a post-pandemic future, and will set Launceston in good stead as it continues to chart a path to becoming one of the most liveable regional cities in the world,” the Mayor said.