800 more homes for Renmark amid booming demand for land in regional parts of South Australia
An SA town wants a development partner as it prepares for almost 800 new homes, as demand for land outside metro areas skyrockets.
SA News
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Almost 800 homes are expected to be built over a 95ha site in the Riverland, as the local council seeks to make way for more development amid booming demand for land.
Renmark Paringa Council will next month launch an expressions-of-interest process to find a developer to partner with to help progress future stages of the Jane Eliza waterfront estate. The estate, kicked off during the 1980s by a previous developer, already has about 200 homes built.
The next phases of the development, to also include shops, a marina and other services, would bring a $107m annual boost to the region once complete and 936 extra direct and indirect jobs.
Chief executive Tony Siviour said the council-owned land, north of Renmark’s town centre, near Bookmark Creek, would provide space for 780 allotments – enough for up to 37 years of housing growth.
“At the moment we’re very constrained with our housing supply and this will help future-proof our long-term supply,” he said.
“There’s a trend towards regional migration and the first net-positive migration in SA for 20 years, and that’s why (the) council is looking to activate the site now.”
Demand for land was increasing before Covid-19 hit, Mr Siviour said, but the pandemic had heightened supply shortages.
“The rental market is also very, very, tight. It’s extremely difficult to rent housing in Renmark.
“I’ve experienced that first-hand in recruiting staff.”
The previous developer sold the site to the council more than a decade ago.
Financial analysis company Lucid Economics found that during construction, the project would have an economic impact of $415m, creating 3191 full-time direct and indirect jobs.
“We’ve modelled it over 37 years, but with the current housing market being pretty hot, hopefully the uptake is quicker than that,” Mr Siviour said.
The council hopes to lock in a development partner by August 2022, with construction work to begin in 2023.
Mr Siviour said since endorsing a master plan for the area in 2016, the council had done “detailed earthworks and stormwater modelling”.
The council has engaged the services of commercial development organisation Alinea Group to help in its bid to secure a development partner.
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