The northern suburb of Greenwood is set for a new $51 million residential development that will generate and support up to 150 jobs during its construction phase and deliver 138 contemporary homes by its completion in 2020.
The East Green project is a partnership between the Department of Communities and Frasers Property Australia.
Housing Minister Peter Tinley officially launched sales for the development today with an initial release of 16 homes priced from $350,000 to be available from this Saturday (September 2).
At least 20 of the 138 houses and apartments will be available through the State Government’s shared equity initiative for homebuyers on low-to-moderate incomes and 15 dwellings will make up the social housing component.
It is anticipated that East Green will create a vibrant new residential community in the Greenwood activity centre, within two kilometres of schools, shops and a medical centre. About 25 per cent of the estate is dedicated for landscaped parkland.
Future residents can easily connect to the Perth central business district, Joondalup and the Greenwood community. There are three bus routes within walking distance of the estate and Greenwood and Warwick train stations are within five minutes driving distance from the estate.
Tinley said “Many low-to-moderate income earners in WA struggle to access affordable housing in established suburbs. The McGowan Government is focused on this issue and helping to change it, by building residential developments such as East Green.
“The median house price in Greenwood is out of reach for many Western Australians. East Green closes this gap in the market, delivering diverse housing options at an affordable price.
“Its mix of housing offers opportunities for downsizers wanting to stay in their local community, first homebuyers who want to buy in a well-connected location and families who, up until now, have been priced out of the market.
“By partnering with the private sector to develop government land, we offer a new chance for affordable home ownership in established suburbs while minimising the impact on net debt.”
Source: Government of Western Australia.