Developer Five Squared Property Group has released The Boulevard, the latest stage of its residential community Katandra Rise – a 475-lot development in Doreen that will house more than 1,500 people upon completion.
The release of The Boulevard follows new zoning regulations in Melbourne's outer suburbs which are placing a premium on space and turning buyers to master planned communities.
Under the Victorian State Government’s Plan Melbourne strategy, part of the City of Whittlesea has been recast as a Residential Growth Zone to allow for the development of apartments, townhouses and building heights in excess of 13.5 metres.
According to Five Squared Property Group Development and Marketing Manager Ashley Lewis, the guarantee of green space and an affordable freestanding home within master planned communities was proving a major draw card for young families.
“Moving forward, it’s likely we’ll see more high density development in the area, so buyers are looking for the certainty that comes with a master planned community like Katandra Rise,” he said.
Mr Lewis added the response to The Boulevard was clearly a sign of a strengthening market.
“Over the last couple of years, we’ve seen buyers sit tight because of economic uncertainty, which meant it could take up to a year to sell each release. We’re extremely encouraged by the initial response we’ve had at this early stage and expect to sell out easily by Easter next year.”
A standout feature of Katandra Rise is its new community garden, which has become a flagship selling point for buyers eager to have access to green space.
Launched in late 2013, the garden includes 12 individual plots, one communal plot, a garden shed and 12 car parking spaces which are managed by Five Squared.
The garden is already yielding tomatoes, chillies and lettuce, with nearby Doreen Primary School helping to maintain the garden as part of youth program to build self-esteem.
“Community gardens are popping up across the city and providing a connection to nature and community that residents really value as space becomes increasingly tight,” Mr Lewis said.
“Buyers to Katandra Rise love the idea of having access to the garden - it’s already playing a large role in helping to foster a strong community spirit.”
The Boulevard is the fourth land release at Katandra Rise and features 22 premium home sites ranging in size from 375 square metres to 603 square metres. Land prices range from $174,500 to $234,500.
Construction of The Boulevard will commence next week and is due from completion in December 2014.