Coburg

[Pete_d]

FYI

http://www.theage.com.au/national/grollo-joins-1bn-plan-to-rejuvenate-coburg-20080612-2po9.html

THE $1 billion plan to rejuvenate Coburg has moved a step closer with the announcement of a development partner for Moreland Council's ambitious urban renewal project.

Grollo family company Equiset will transform a 12-hectare site at the intersection of Bell Street and Sydney Road — with plans to sink Coburg Station underground and build apartments, office space and shops above. About 20% of 1500 new dwellings will be reserved for affordable housing under the plan, which is expected to add substance to the State Government's embattled Melbourne 2030 planning strategy.

Premier John Brumby recently conceded the Government had been slow to implement Melbourne 2030 and nominated Coburg as one of five designated activity zones ripe for high-density development. The project will also come under the authority of the Government's new Development Assessment Committees, which were introduced to streamline planning

 

[Property Meister]

I just read this article and was about to post a similar question....

so does that mean, assuming the project does go ahead, coburg will shoot up in value......

 

[Player]

I just read this article and was about to post a similar question....

so does that mean, assuming the project does go ahead, coburg will shoot up in value......

I also read this article and this has been in the pipeline for quite a while. I don't think it is a matter of Coburg "shooting up in value" so much as a matter that it should cement values and long term prospects for the future.

Coburg is within the 10 km ring to the CBD and has excellent fundamentals. Its value has increased significantly over the past 10 years or so.

I worked in Coburg in the mid-80's and it was not a desirable place at that time. Then again, neither was Brunswick; now it's sought after.

Due to the amenity of these areas and proximity to the city, there should be demand from tenants in these suburbs in the future.