A developer with links to a Victorian Alpine centre going back more than five decades has had its 300-home estate in the region approved.
The Deague Group has now secured planning approval for estate in Bright, at the base of Mount Hotham, from the Alpine Shire Council.
Deague earlier this year purchased the 40ha site at 805 Great Alpine Road, a former tobacco farm earmarked for residential development almost a decade ago, from Olympic skier Malcolm Milne for $35 million.
Shortly after, the developer put forward plans for a hillside estate at the western edge of the popular tourist town to address a looming supply shortfall.
There is a chronic shortage of permanent residential accommodation in and around Bright, as well as affordable short-term accommodation for the many workers that flood the area during the three months of the ski season.
For the Deagues, a well-known Melbourne developer family, the regional project marks a move away from its high-rise commercial and residential developments in popular inner city suburbs in cities including Melbourne, Brisbane and Adelaide.
The family, close friends with the Milne family for more than 50 years, having spent numerous holidays at their farm in Myrtleford, said it had long desired to bring its development approach to Bright.
Deague Group director Anthony Deague said the estate plan would offer small houses on lots ranging from 300 to 900 square metres and priced between $700,000 and $800,000—targeted at residents of the region wanting to downsize or renters wanting to buy.
“We are aware of the housing crisis in Bright and will be offering homes well below the current entry-level homes for sale in Bright,” Deague said.
“Options will vary from smaller two-bedroom houses to large two-storey, four-bedroom grand homes up on the hill.”
Deague said the estate, once realised, would begin to ease the housing pressure faced by the Alpine region, where entry-level houses currently exceed the million-dollar mark. The median price in Bright is $1.3 million.
The masterplanned estate will comprise 300 biophilic homes designed with seven-star energy efficiency and suited to outdoor activities due to ample space for bike and ski storage.
The first stage of the development is due to begin in the coming months with the developer now in the final phase of the tender process for the construction contract.
It is understood that Deague is in talks with a number of local builders to ensure that the residences will be designed and built to “honour the heritage character of Bright”.
Deague Group said it would bring extensive local experience to the project with Melbourne-based Human Habitats Planning and Design involved after leading the team on the project for more than two years.
“We have taken the time to understand both the desires and concerns of the community, which have been incorporated into the development program,” Deague Group chief executive William Deague said.
“This includes staging infrastructure implementation within our site so as not to place unnecessary pressure on the existing area.”
The developer plans to help provide an engineering solution to ensure Stackey Gully Creek is upgraded, protecting the estate from once-in-a-100-year weather events.
Across the border in NSW, plans for a $390-million masterplan, aimed at boosting supply in popular ski resort Jindabyne, has been released.
The 40-year masterplan opens up the land to the east, west and south of Jindabyne with new residential zoning, as well as recreation, commercial and open space areas.
