A proposed subdivision of more than 200 lots at Youngtown has been welcomed by one of Tasmania’s peak housing bodies.
Property Council of Australia Tasmania executive director Brian Wightman said it showed the Launceston market was hot.
“It’s a place where people want to invest and that’s a very positive sign for the Launceston market,” he said.
“We need stock and supply into the future and a development application of 214 lots shows that there is confidence within the market.”
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Mr Wightman said with other developments happening in Launceston, such as the University of Tasmania’s proposed move to Inveresk, the DA would plan for the future.
The application would bring a number of different housing options to the area, he said.
“It’s very important that the Launceston City Council is forward thinking regarding a DA of this size,” Mr Wightman said.
“It’s also very important that we’re able to line-up the service providers such as Telstra and TasNetworks quickly to ensure we’re not waiting 24 months before we turn the sod on a development such as this.”
The subdivision would include a loop road providing connections to Raglan Street and align with a road loop in Dundas Street.
The Western section of the road loop will provide a connection to the Kings Meadows Link. Access to the link will be provided by an existing roundabout that was built in 2011. Another connector will be provided to Hobart Road.
In the development application, lodged with the City of Launceston council, motorists are anticipated to use the Kings Meadows Link to access Hobart Road.
A traffic impact assessment, included in the application, said the area is capable of accommodating the increased traffic levels.
The subdivision is being put forward by Growth Developments and has been in the works for about 18 months.
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