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Townsville’s incentive package ‘sparks’ new development in the city

Townsville’s incentive package ‘sparks’ new development in the city

Spark of new development in the Townsville CBD.

The CBD Incentives program, launched by the Townsville City Council in 2011, seems to be creating quite the ‘spark’ in developments in the CBD, with construction advancing on four major inner-city buildings.

The Kensington Apartments project was also completed with a collective value of around $101 million, with another eight projects ‘in the pipeline’.

This flurry of construction and activity in the CBD could indicate an opportunity for apprenticeships in Townsville.

The incentives program was established to stimulate new development and ‘keep the city on track’ to reaching the target of the CBD Master Plan of 30,000 people working and living in the inner-city by 2030.

Projects worth in excess of $3 million and completed before June 30 2015 are offered reduced infrastructure (headworks) charges, increased construction hours, prioritisation of approvals, remissions on rates and utility fees and charges during its construction as part of the program.

“The program has sent a very strong message to the development industry that Townsville is keen to fast track projects and create jobs at a time when developments have been put on hold in many parts of regional Australia,” said Planning and Development committee chairman Tony Parsons.

“With one project finished, four others under construction and another eight approved and potentially ready to start within the specified timeframe, we’re building some much needed momentum.”

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