The Minister for Planning Richard Wynne is now the decision maker for residential development which costs at least $50 million in Melbourne or $15 million in regional Victoria that provide at least 10% affordable housing in the project.
The timeframe for approving the planning permits for these projects is anticipated to be reduced from 12 months or more to just four months.
The Property Council of Australia’s Retirement Living Council Executive Director Daniel Gannon said the Property Council has identified 35,000 homes stuck in the planning pipeline; seniors housing must be a priority.
“Given the number of Victorians over the age of 65 is forecast to grow by 650,000 over the next 20 years, much work needs to be done to bring more appropriate and affordable housing to market,” he said.
