THE Northern Territory Government this week announced more than $20 million in its 2011 Budget to continue works for Palmerston East under the government's growing the Territory initiative.
Chief Minister Paul Henderson also announced that the Land Development Corporation has entered into a Joint Venture agreement for the new Palmerston suburb of Zuccoli.
The first stage of Zuccoli will provide more than 450 additional lots to the residential market over the next five years, with initial construction work expected to commence by the end of this year.
Urbex Pty Ltd / BMD Constructions will work with the Land Development Corporation in association with other Territory businesses to develop the first stage of the Zuccoli project.
The 95 hectare site, located between Lambrick Avenue and Radford Road, aims to deliver a mix of affordable, social, private, medium density and some rural residential lots.
Zuccoli will be the largest of the Palmerston East suburbs, with the entire suburb expected to provide around 1,350 lots in the coming years.