New Major Development Planned For Ocean Grove

Kingston Downs Estate North – an estimated $200 million mixed use project – is the second major residential redevelopment proposed around the coastal township recently. News of the estate being back on the cards, comes weeks after Stockland received a permit for a $330 million development of a 195-hectare site west of Point Lonsdale nearby.
 
Kingston Downs Estate North has been proposed for a wedge between Banks and Drysdale-Ocean Grove roads, near the Ocean Grove Nature Reserve and the suburb border of Wallington.
 
The City of Greater Geelong is expected to make a decision to rezone this and other farmland in the area, after May.
 
Manager City Development Joanne Van Slageren said the land was identified within the Ocean Grove Structure Plan 2007 as being the suitable future growth area for Ocean Grove.
 
New residential, business and industrial zones will be added to the area, because of recommendations in the structure plan.
 
Ms Van Slageran said the rezoning will provide much needed residential allotments in a recognised growth area as well as enabling the expansion of an industrial state, to the east, and in the longer term – a new activity centre.
 
Owner of the Kingston Downs Estate North site James Ramsay, told Capital Gain his proposed development will include its own commercial, retail and industrial precincts, as well as a retirement village.
 
It is expected over the next 15 years, more than 2,000 subdivided lots could be released, accommodating up to 7,000 residents.
 
Last month, a 769 dwelling development, with a retirement village and an aged care facility, was approved for a Point Lonsdale site.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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