Australian Property News

Eastland expansion set to overhaul Ringwood

Posted on Tuesday, October 29 2013 at 11:28 AM

A $575 million development project and a transport upgrade worth $66 million are set to transform the suburb of Ringwood, Victorian Premier Denis Napthine says.

The Ringwood train and bus station will be revamped and 150 stores will be built, along with a restaurant precinct and a new library and learning centre.

“This $575 million project will create 1600 jobs during the construction phase and a further 1700 ongoing retail jobs when the expansion is complete,” Napthine says.

He says the upgrade will completely renew Ringwood’s city centre and boost the economy of Melbourne’s eastern suburbs.

The first stage is expected to commence work this month, with completion flagged for Christmas 2015. The second stage of the development will include a 25,000 square metre office tower and hotel.

Member for Warrandyte Ryan Smith says the project will make Eastland a state of the art design and community hub.

Follow us on Twitter.

Was this article helpful? Place a link to it from your website, or share it using the button below.

Bookmark and Share

Recent articles:

Loans to investors still high – but investors should take care
Affordability index sees fall in June quarter
Another big lender makes investor loan changes
50% of investors plan to buy in next year
Most still feel now’s a good time to buy
ANZ increases investor loan rates

Leave a comment

If you have trouble reading the code, click on the code itself to generate a new random code.