MORE FUNDS FOR PUBLIC SPACES.
04 Feb 2021
Landcom and the Office of Strategic Lands (OSL) have signed a Project Delivery Agreement to release land.
The NSW Government will have more funds to acquire open and public space after the signing today of a Project Delivery Agreement between the Office of Strategic Lands (OSL) and Landcom.
The NSW Government’s land and property development organisation, Landcom, will partner with the OSL’s Planning Ministerial Corporation (PMC) to investigate the potential of specific surplus lands for development, with the proceeds re-invested in the acquisition of new public space.
Group Deputy Secretary, Place, Design and Public Spaces, Alex O’Mara said the potential sites in Austral and Rooty Hill will unlock valuable land in desired areas across Greater Sydney while also delivering more public space for future generations.
“OSL and Landcom continue to collaborate to increase housing supply, improve housing affordability, add economic value and bring public benefit across Greater Sydney,” Ms O’Mara said.
“This agreement is particularly satisfying because OSL’s proceeds will be re-invested in the acquisition of new public space, resulting in great social and environmental benefits for people and communities.”
Landcom CEO John Brogden said this latest PDA shows the ongoing strength of the collaborations between NSW Government departments.
“This agreement is a fantastic example of Landcom working with a NSW Government agency in order for us to create more affordable and sustainable communities for the people of NSW,” he said.
“Affordable and sustainable development is at the heart of everything we do at Landcom and we will reserve at least five to ten percent of the homes delivered under this agreement for affordable housing.”
The agreement specifies some state-owned lands identified as surplus that Landcom can now investigate as viable for development and, if so, develop, market and sell the land.
The PDA ensures both the OSL and Landcom manage the risk and share the rewards of any project while also meeting specific objectives that may include housing diversity, affordable housing, urban design excellence and/or ecologically sustainable development.
The OSL will use the proceeds from any sale to re-invest in the acquisition of new public space lands while Landcom model best practice development. Previous successful Landcom-PMC projects include Bunya residential lands, Rouse Hill Regional Town Centre and West Huntingwood Employment Lands.
