VICTORIAN Major Projects Minister Jacinta Allan last week announced the formal commencement of Development Victoria, which will lead the development, renewal and revitalisation of public land in Victoria.
Development Victoria brings together the skills and expertise of Places Victoria and Major Projects Victoria to oversee major urban renewal and development of under-utilised government land.
According to the Minister, the new agency aims to ensure the revitalisation of land owned by the public delivers benefits to the public, such as improving housing affordability, employment opportunities and access to education, services and open space.
It will lead projects already underway – including the redevelopment of the State Library of Victoria, revitalisation of central Dandenong and Ballarat West Employment Zone – and play a key role in urban renewal opportunities at Fishermans Bend and Arden.
Development Victoria will operate as a statutory authority, reporting to a Board chaired by James MacKenzie.
The announcement follows the recent release of the Value Creation and Capture Framework, which sets out how the State Government will harness its investment in infrastructure to generate benefit for taxpayers and broader social benefits.