THE federal government has given $2.5 million to boost affordable housing in Dennington with cash for a rebate scheme and roadworks.
It is believed to be the first time in Warrnambool’s history a government assistance package has been tailored specifically to help low-to-medium income earners buy housing land.
The Standard understands $20,000 will be available to eligible applicants with a family income below $90,000 while singles with an income below $80,000 will be able to get $15,000 to buy blocks in the Coghlans Road area.
Up to $1.5m will be available for the rebate package and the balance will go to upgrading the dirt section of Coghlans Road west between Caramut Road and Station Street. It will be the major east-west link into the new zone which extends from the Merri River to Harrington Road and Drummond Street.
The 110-hectare north Dennington zone is expected to produce about 1250 housing blocks at the rate of 12 lots a hectare.
Warrnambool City Council chief executive Bruce Anson said the roadworks would start next year.
“This is a great assistance in opening up the north Dennington land and a good boost for affordable housing,” he said.
“The rebate system is a first for Warrnambool. Depending on the uptake there will be about $1.5m available, with the balance for roadworks.”
Other future transport link upgrades in the area will involve traffic lights at the Coghlans-Caramut roads and Raglan Parade-Lindsay Street intersection as well as a new turning lane at the Raglan Parade-Caramut Road intersection.
Federal Regional Development Minister Simon Crean and Housing Minister Brendan O’Connor announced the grant on Friday as part of a $15m package over three years for local infrastructure projects around the nation.
Mr O’Connor said the money would help increase the supply of affordable homes for sale and rent to help alleviated supply pressures.
Mr Crean said: “There is a massive demand for infrastructure in this country, but no one government can do it all. With the minerals resource rent tax securing funding for infrastructure there will be more opportunities for regions to pursue investment partnerships and get their slice of the action.”