The Rockhampton CBD is in for a shake up.
The city council has introduced a Development Incentive Policy to promote multi-unit development in the area between the bridges crossing the Fitzroy River and the four blocks up to Alma St.
The policy builds on development incentives which have played an important part in stimulating the regoin’s economy over the past seven years, said Acting Mayor Neil Fisher.
“The purpose of the Development Incentives Policy is to attract investment and support projects that will deliver local jobs and promote economic growth in our community,” Cr Fisher said.
“Under the policy, Council will refund up to 75 per cent of infrastructure charges to any private development that meets our specific set of criteria, which includes significantly increasing local employment opportunities.
“Council has refined this policy for 2021 to include multiple residential dwellings in the area bounded by Victoria Parade and North, Alma and Fitzroy Streets in Rockhampton.
“We have seen strong growth in this precinct since 2013, mainly through the construction of multi-story residential complexes.“
Last month, Council expanded the current Development Incentives Policy to include multiple residential unit developments in specific areas near the CBD.
The policy also extends the current incentives policy for investment in tourism, health, resources, education, aged care and retirement investment sectors.
The policy provided opportunities for both expansion and new investment said Advance Rockhampton’s Executive Manager, Greg Bowden.
“And, best of all it will compliment Advance Rockhampton’s goal to create long term job growth in the region and across Central Queensland,” Mr Bowden said.
“By amending the policy to include multiple residential dwellings we are sending a message to investors and developers in this sector that Rockhampton Regional Council is committed to increasing liveability options and investment attraction to the region.
“We are really looking forward to welcoming applications from investors and developers in the residential unit sector and working with successful applicants to broaden the lifestyle choices in Rockhampton.”
The new policy will apply to development applications lodged with Council from 1 January 2021 to 31 December 2021.