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Urban Corridor Transformation

We’ve had some great news stories on the progress of our area recently and wanted to keep you updated on as things unfold, so will be updating this page on a regular basis.

Watch this space for ongoing coverage on the transformation of areas such as Churchill Road; a once a low level industrial site now experiencing unprecedented high demand as a thriving zone of redevelopment.

If you are interested in establishing a business or other investment opportunities within City of Prospect, obtain a copy of our latest ProspectUs,or contact our team.

Click on the image to view the full articles below: 

     
2015, August 24
News.com.au
   
Screenshot of News.com.au article                

WORK on a $18 million cinema complex planned for Prospect Rd is set to begin in a matter of weeks following close to 12 months of design wrangling and overcoming carpark issues.

The Maras Group is building the four-storey art-deco cinema, including restaurants and offices, at the southern corner of Prospect Rd and Rose St.

Developer Steve Maras said the project was exciting for the district and would create up 110 casual and fulltime jobs once completed.

He said ongoing design work and solving anticipated carparking issues resulting from the increased activity in the district were responsible for the delay in starting work despite receiving initial approval in September 2014.

Traders along the strip earmarked for the development have vacated their shopfronts and construction fences were erected around the site this month.

Mr Maras said the boutique cinema complex showed developers were confident in taking a chance on the district since the council changed zoning regulations in 2013.
     

2015, August 19
The Messenger, The Advertiser, The Herald Sun

   
Screenshot of The Messenger article  

DEVELOPERS competing for prime land close to the city is behind a property boom along Churchill Rd, which is pushing up average house prices up by as much as $150,000, real estate agents say.

One agent has described Chruchill Rd’s changing face as arguably Australia’s best main road urban transformation.

Agents are attributing the changes in October 2013, which increased building height restrictions from three storeys to five storeys, to the unprecedented high demand for houses along the busy road which was once a hub for industry.

Research by City North Messenger shows average property prices have jumped 25 percent, from $433,300 to $558,266 since Prospect Council changed its building rules along Churchill Rd.
     

2015, July 8
City North Messenger

   
Scan of The Messenger article     

MORE than $62 million worth of commercial projects are in the pipeline for the rezoned, internet fibre-rich Prospect Council, potential investors were told at a special event last week.

Images of Pym St intersection before and after construction

2015, June 30
The Advertiser

   
Screenshot of News.com.au article   

MORE than $62 million worth of commercial projects are in the pipeline for the rezoned, internet fibre-rich Prospect Council, potential investors will be told at an event tomorrow.

The council will launch its business and investment opportunities prospectus at the event to promote its “investment ready” status.

New opportunities to be highlighted include partnering with the council to build a free public wi-fi network at its Village Heart on Prospect Road before June next year, leasing or redeveloping its works depot and setting up an Entrepreneur Empowerment Centre to service small and home-based businesses.

The mixed-use projects, along Prospect and Churchill roads, are expected to attract more than 500 new residents, bringing in more customers for local businesses, said Mayor David O’Loughlin. “The interest, following the rezoning in late 2013, has exceeded our expectations.

     
     
     
     
     
     
     
     
     
     
     
     
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