Devonport Mayor Annette Rockliff said Devonport City Council's urban renewal project LIVING CITY, was starting to pay off and has undoubtably strengthened the City's performance in the North-West region's recent property boom.
The latest Real Estate Institute of Tasmania (REIT) figures revealed median house prices in Devonport had soared and were up 27% on last year.
Cr Rockliff said it was great to see material benefits from Council's bold vision, with the current development and property boom further enhancing the exciting changes occurring in the municipality through the LIVING CITY Master Plan.
"Council adopted the LIVING CITY strategy back in 2014 to transform the city, drive economic growth and business confidence," she said.
"We're now seeing that plan roll out and the benefits with growth and investment increasing as a result. This is the exact reason Council embarked on such an ambitious strategy.
"Council intentionally invested in the facilities, services and community support activities that have a positive and direct impact on the liveability of our city."
Cr Rockliff said the waterfront precinct development, which includes the $17 million Waterfront Park and the private investment of the $40 million hotel, would further enhance the City's appeal as a great place to live, work and invest.
"LIVING CITY is more than new buildings. LIVING CITY provides new opportunities, new tourist drawcards and new experiences," Cr Rockliff said.
"It's a project that will benefit the entire North-West region and is estimated to generate $250 million in construction investment over the next decade and importantly provide hundreds of new jobs and career paths, providing opportunity for our young people to stay in the region."
Cr Rockliff said part of the LIVING CITY strategy is to create a cultural heart for the region, focussed on embracing food, culture and the arts and we see that as critical to tourism and are committed to continuing to invest in these areas.
"Council is confident that these projects will see our city continue to thrive and create a place that its residents are proud to call home," she said.
Earlier this year Council called for expressions of interest (EOI) for four prime Devonport CBD development sites, which attracted 16 proposals from seven separate proponents and resulted in four proposals being short-listed to progress to the next stage.
Cr Rockliff said the EOI process was about building on the existing strong momentum and confidence resulting from the initial stages of LIVING CITY by facilitating a range of investment and development opportunities within the Devonport CBD.
"We know there is strong demand in Devonport right now for additional land to develop. This process will result in additional investment to meet this current market demand for a range of property types - that is best delivered by the private sector." Cr Rockliff said.
