The Victorian Government has established its new agency to lead the development, renewal and revitalisation of public land in Victoria.
On 6 April, the formal commencement of Development Victoria began.
Development Victoria brings together the skills and expertise of Places Victoria and Major Projects Victoria to oversee major urban renewal and development of under-utilised government land.
The new agency will ensure revitalisation of land owned by the public, benefits the public – by improving housing affordability, employment opportunities and access to education, services and open space.
It will lead projects already underway – including the redevelopment of the State Library of Victoria, revitalisation of central Dandenong and Ballarat West Employment Zone – and play a key role in two of Australia’s most exciting urban renewal opportunities at Fishermans Bend and Arden.
Development Victoria will operate as a statutory authority, reporting to a Board chaired by James MacKenzie.
The announcement follows the release of the Value Creation and Capture Framework, which sets out how the Victorian Government will harness its record investment in infrastructure to generate benefit for taxpayers and broader social benefits.