The City of Launceston approved planning applications worth more than $215m across the municipality in the 2019-20 financial year.
In total, the Council approved $215,005,934 worth of planning approvals across 673 separate applications between July 1, 2019 and June 30, 2020.
This followed the approval of 646 planning applications worth $211.2m in the 2018-19 financial year, and the approval of 658 planning applications worth $209.6m in the 2017-18 financial year.
Launceston Mayor Albert van Zetten said the latest planning approval figures were a great result for the city.
“Launceston continues to attract major development proposals across a range of sectors and industries, and investment is still trending upwards,” Mayor van Zetten said.
“The City of Launceston has a track record of supporting appropriate job creating development in Launceston and — as these figures indicate — we’re continuing to do just that.
“And while the Act requires us to assess applications within 42 days, in the 2019-20 financial year, those 673 planning applications were assessed in an average of just 28 days.
“We know how important it is to our economy, employment and investor confidence, and we work proactively with developers wherever possible to deliver positive outcomes for Launceston.
“Many of the planning proposals approved over the past 12 months will be coming online at a time when, due to the COVID-19 pandemic, our city will be relying heavily on new investment and new jobs.
“The projects included in the 2019/20 planning approvals run the gamut, from Mum and Dad developers building an extension to their house, to new residential subdivisions, to new hotels.”
Tas City Building is one local development company with projects underway in Launceston’s CBD.
The company’s Director Steven Simeoni said developer confidence in Launceston remained strong.
“I know a lot of small and large investors who love the Launceston and who — like me — are very positive about exploring new projects,” Mr Simeoni said.
“Tasmania has a lot to offer; we have the best of all environments at our doorstep, and our real estate is still relatively low-priced and affordable. “Other parts of Australia are waking up to the work-life balance we’re able to offer in Northern Tasmania.
“In terms of the residential developments Tas City Building has been undertaking over the past couple of years, we’ve seen increasing interest from mainlanders looking to escape the rat race, and increasing interest more generally in CBD residential offerings. “The biggest challenge we have going forward is opening up the underutilised real estate in the CBD and elsewhere across Launceston for new development opportunities.”