Stockland launch The Grove in Melbourne's growth corridor
Stockland has launched a $640 million masterplanned community in the Wyndham growth corridor, 31 kilometres west of Melbourne.
Marketing for The Grove begins 17 November for what will be the first of 2,500 new homes in Tarneit.
The first residents in the 234-hectare community are expected in the second half of 2016.
The Grove will offer completed homes, house and land packages along with medium density housing.
There will be 54 hectares of parkland on a site bordered by the Werribee River and Davis Creek.
Residents will have easy access to the city via the Werribee train line and the new Regional Rail Link, which is due to open in April next year.
The announcement came a day after Stockland revealed its best residential sales quarter in four years.
Its results were buoyed by improved profits from its residential business which achieved a 12.5% increase in lot sales and ended the year with a record number of contracts in hand.
The new community at The Grove will include a 3.8-hectare town centre with a neighbourhood shopping centre.
Stockland will build a retirement village and will set aside land for new primary and secondary schools.
The Wyndham Local Government Area is one of the fastest growing corridors in Australia. In the year to June 2013, the population of the Wyndham corridor increased by around 10,800 people, representing a 6% growth rate.
Stockland general manager residential for Victoria, Mike Davis, said Stockland was well known to most people in the area because of the Allura residential community at Truganina, Point Cook Town Centre and Tarneit Skies Retirement Village.
