“An ambitious $2 billion urban renewal project progresses one step further”
The rehabilitation and future development of the former Epping Quarry into a $2 billion mixed-use development – known as New Epping – is a step closer following the State Government’s green light to rezone the land.
The redevelopment, led by privately-owned developer Riverlee, will see the 51-hectare site rezoned from Industrial to Mixed Use, paving the way for the birth of a new ‘city in the suburbs’ as a means of catering to the booming northern growth corridor.
To be developed over a 10 to 15 year period, the New Epping plan is one of the most ambitious urban renewal projects seen in Australia, spanning medical, residential and commercial facilities.
Pending development approval, New Epping would include a diverse residential offering, including affordable housing, townhouses and apartments; a premium commercial office precinct; an ambitious new medical precinct, including a private hospital and a variety of lifestyle and amenity offerings.
Located in one of the fastest-growing municipalities in Victoria, it is forecast that the catchment (Epping Road growth corridor) will continue to grow at an average of 2,800 new residents per annum.
Riverlee Development Director, David Lee said the rezoning approval represents a significant show of confidence by the State Government and the City of Whittlesea in the overarching New Epping vision, in what has been a collaborative effort to bring the project to life.
“The rehabilitation of the former Epping Quarry is one of the largest projects we have undertaken and will be one of the most rewarding due to the sheer impact it will haveon the growing region, economically, environmentallyand socially.
“By drawing inspiration from the best of Melbourne’sinner-city and delivering it in the city’s North, Epping has the potential to become a city within the suburbs; an epi-centre of activity that will put Epping on the map as a true story of urban regeneration.
“A significant amount of economic activity will be generated from the project and will provide a major boost to the region in terms of new employment opportunities throughout the construction phase, in addition to the thousands of jobs that will be created once the project is complete and operational,” he said.
Sitting adjacent to the Northern Hospital, the busiest and largest hospital in the northern area, New Epping plans to offer a seven-hectare health precinct, signalling the most significant private investment in health in Melbourne’s north.
“It will add substantial value to the lives of residents nearby and has the ability to transform the region into a one-stop healthcare destination for both patients and medical professionals,” said David.
The recent rezoning application also extends to the land along the Edgars Creek corridor to protect the creek and enhance environmental values and conservation, including the protected Growling Grass Frog.
The construction lifespan of New Epping will generate in excess of 5,000 jobs and at full development, more than 3,100 people are forecast to work on the site in sectors ranging from community services, education, medical professions, business professions, plus more.
The former Epping Quarry ceased operation almost 20 years ago and was purchased by Riverlee in 2015. With therezoning now achieved, Riverlee is awaiting developmentapproval for infrastructure and building work, whichwould allow the commencement of construction.
For more information, please visit https://newepping.com.au
Riverlee is a Melbourne based, privately owned property group specialising in development and asset ownership across the commercial, residential and retail sectors. Established in 1993 by Clement Lee, Riverlee is known for delivering visionary projects that lead the industry, both creatively and commercially, while always honouring the region’s heritage, environment and community. A family business at its core, Riverlee has cemented itself as a trusted and respected brand within the Australian property market. Today, a new Lee generation carries forward Clement’s values of hard work, determination and design excellence with a strong vision for the future.