Published on 10 December 2021
Colac Otway Shire Council will consider a revised approach for the sale of Council land at 36-52 Bruce Street in Colac, which will continue the project’s aims of opening the land up for residential development, while facilitating social housing outcomes for Colac and achieving a financial benefit to Council.
“Having a greater understanding of the construction and land markets, Council now sees an opportunity to simplify its approach to the sale of this land, including leaving the construction of all infrastructure to the purchaser,” said Colac Otway Shire Council CEO Anne Howard.
The level of interest in the Expression of Interest process was very positive, and, if adopted, the revised approach will be a similar overall cost, but with reduced up-front costs to Council and with similar timelines to completion.
“Council already has a large Capital Works program that has been impacted by COVID and our current capacity is different to what was expected six months ago,” said Ms Howard. “So, while the existing approach is still valid, we believe it is now a better outcome for the project for the developer to manage the infrastructure.”
“Good project governance means Council continually monitors and considers new information, particularly in these uncertain times, and we are now seeking further direction from Council that takes into consideration our current market opportunities.”
Residential development on the land will continue to provide a mix of housing opportunities.