DELIVERING affordable housing for the region moved closer with the approval of the South Tralee development earlier this week.
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The Tralee development will provide more than 2000 homes, along with a wide range of sporting and community facilities including 78 hectares of nature parks and walking trails.
The Member for Monaro John Barilaro and Queanbeyan Mayor Tim Overall both welcomed the Joint Region Planning Panel's approval of the long awaited South Tralee development.
Mr Barilaro said it was a "huge economic boost" to Queanbeyan and Jerrabomberra by creating jobs and providing much needed public facilities.
The project is estimated to inject more than $1 billion dollars into the regional economy.
"With housing affordability an issue in our region, this is fantastic news for homebuyers who are one step further towards realising the great Australian dream of owning their own home," Mr Barilaro said.
Cr Overall said the Tralee project had been a long time coming.
"The South Tralee development has been some 20 years in the making with Queanbeyan City Council contributing significant resources to undertake the planning and approvals," Cr Overall said.
"Together with the construction of Googong, the South Tralee development will result in more than 7,500 new households for more than 20,000 residents in the Queanbeyan Local Government Area."
Following the approval for the concept plan, the developers, Village Building Company, will be required to submit detailed development applications for the five stages of the development.
These development applications will be considered by the Joint Regional Planning Panel and approval would allow construction of roads, services and the subdivision and sale of land.
The concept plan for the connection road to Tompsitt Dr has been approved, however development applications for individual sections of the road are required to be approved before construction can commence. Council is currently assessing a development application for the bridge over Jerrabomberra Creek before further stages of the road will be submitted for assessment.
Council staff are continuing to work the developer to finalise a Voluntary Planning Agreement and Section 94/64 plan. These plans will outline the facilities provided in the development and how they will be funded.