Greenfield developer TW Projects has pumped up its pipeline with the acquisition of a 60ha parcel of land at Broadford.
The former farmland at Broadford-Kilmore Road, about a 90km drive north of the Melbourne CBD, will be transformed into a masterplanned community.
TW Projects plans to develop a residential enclave, a new primary school, a retail centre and a community facility for the region’s growing population of young families.
The developer is strategically expanding its holdings, with another acquisition of a further 2.4ha neighbouring its existing project at Elliminyt, taking its pipeline in excess of $400 million.
The Broadford area is an expanding peri-regional market and the TW Projects site is within the adopted Broadford Structure Plan.
TW Projects director Albert Weddell said the area was well connected to transport and close to key Melbourne employment hubs.
Fellow director Jack Townley said the Elliminyt acquisition consolidated their existing holdings, to create a yield of about 400 lots for the site.
“The acquisition of the Elliminyt parcel has been a long-time coming, we have been working on acquiring this site for a while as it is a logical addition to our current landholding.”
The Broadford land was earmarked for rezoning in the next two years, while they intended to submit plans for the Elliminyt site at the tail end of 2024, Townley said.
