Plans for a new $14 million, 280-lot “residential village” in Cowes have been released for public comment.
The proposal is for a 12-hectare property at 299-325 Church Street, stretching from Settlement Road to Justice Road, with the planning permit seeking removal of vegetation on the site, which currently has nearly 3340 trees and is grazed by livestock.
According to the permit, Cowes roads are set to get busier, especially Church Street and Settlement Road, with the development creating about 1000 car movements a day.
The permit also states the Lifestyle Communities development – first advertised last year and described as a pre-retirement village – will result in an additional $3.9 million per year spent with local traders.
The 280 homes – with ancillary community facilities for residents – will be sold on a “land lease housing purchase model”, promoted as affordable housing with a median price of $498,000, starting from $325,000.
The property – best known for its long brick wall boundary fence – was last year seeking a planning permit for a multi-lot subdivision (192 lots), which was later withdrawn.
Traffic
A traffic survey included in the planning permit, based modelling on another Lifestyle Village on the Mornington Peninsula at Bittern, which has 202 units for over-55s.
Based on that data, the survey for Cowes found there would be 950 car movements daily. By comparison, the 192-lot residential subdivision initially proposed for the land would – according to the traffic survey – result in 1920 vehicle movements per day.
However the survey also found currently the busiest peak time on Settlement Road and Justice Road was 50 cars during the morning peak between 8.30am-9.30am.
“It is understood that council queried the traffic distribution onto Settlement Road,” the planning permit states. “Noting the low level of traffic generated by the proposed development and the fact that the level of traffic is considerably less than a standard residential subdivision, there are not expected to be any impacts to the road network as a result.
“This amount of traffic is very low and is expected to be easily absorbed into the surrounding road network.”
The residential village is serviced by an internal road network that provides direct access to all dwellings.
Tree removal
The planning permit states there are 3338 species of trees on the site, including 2940 indigenous plant, with .051ha to be removed, including small scattered trees and a small area of swamp scrub.
Two pre-1750 Ecological Vegetation Classes – considered significant and indigenous – were found on the site and considered to “contribute significantly to biodiversity and ecology and therefore should be considered to be of high retention value”.
The permit recommends a raft of protection measures for remaining trees, including tree protection zones, a qualified arborist consult at all stages of the proposal, with all contractors to be made aware of ecologically sensitive areas and removal of any habitat will be between February and September to avoid breeding season.
“Where trees are to be retained within the development site and are considered significant, protection measures will be required in order to ensure the retained trees remain viable and protected from direct and residual impacts associated with the proposal,” the permit notes.
Because a Vegetation Protection Overlay applies over the site, permission for tree removal must be granted by the shire.
Economic
According to an economic analysis included in the planning permit, Lifestyle Communities residential villages draw an average of 62 per cent of residents from the same region.
The analysis states owner-occupier households spend more in the local economy ($11,150 per annum per person) than holiday home households ($2555 per annum per person for holiday visitors).
“Factoring in the estimated count of new permanent residents in Bass Coast: the Lifestyle Communities Scenario will result in an additional $3.9 million per annum spent with local traders,” the analysis states.
It states Lifestyle Communities offers affordable housing, about 75 per cent of the median local house price.
“The Lifestyle Communities development will put 280 dwellings into the market at a median price point of $498,000 (with homes available from $325,000).”
According to Lifestyle Communities head of marketing Carmen Petropulo, who spoke to the Advertiser last year, they planned to launch the estate in mid-2023, targeting downsizing retirees in the 65-age group bracket.
“The average age of our homeowners has dropped to around 65, many of whom are still working,” Carmen said. “We’re building this for locals and we anticipate we’ll see continued demand from locals wanting to downsize to a new home, freeing up equity from the sale of their existing home.”
Unlike a retirement village, homeowners own their home and take out a 90-year lease on the land, via a site fee, with residents not paying rates.
Lifestyle Communities has 23 other similar villages, including on the Bellarine Peninsula and is listed on the Australian Stock exchange.
See more: Community response to the proposal has been divided.