THE Northern Territory Government last week said that development rights for stage one of the residential subdivision in Katherine East are all but finalised after the signing of the Development Agreement with local developer Downes Graderways.
The company will now finalise planning and design of the residential subdivision on the 19 hectare site in Katherine East, which forms the first stage of development in Katherine East that aims to support growth in the surrounding industries of mining, agriculture and defence.
The entire Katherine East site is 42 hectares and expected to support a minimum of 500 dwellings once fully developed.
Lands, Planning and the Environment Minister Peter Chandler said Katherine is poised to play an important role in the development of North Australia.
"Construction of Katherine East stage one will start later this year, providing around 180 lots support more than 200 dwellings," Mr Chandler said.
"This development will drive Katherine's growth and ensure housing supply is maintained and kept as affordable as possible," the Minister said, adding that an average price point for land in stage one has been set between $110,000 to $130,000.
"The Country Liberals are firmly focused on driving development in our regional centres to promote growth and investment with almost $35 million included in the recent budget for regional and remote land release."
Mr Chandler said the surrounding areas of Mataranka, Kalkarindji and Timber Creek have been identified as areas that will benefit from land release, with the government to negotiate Indigenous Land Use Agreements with these communities and Land Councils.