A Melbourne-based developer is set to build a 900-home estate in Tarneit aimed at first-home buyers.
Growland is planning the ‘Marigold’ estate on a 65-hectare site near the intersection of Derrimut and Dohertys roads.
The project has been described as “premium affordable housing targeted towards first-home buyers”, to be built alongside recreational parks, water features and wetlands.
The estate, which will be officially launched in November, will be rolled out across 20 stages.
Growland chief executive Ronald Chan said the company hoped the Marigold area would appeal to first-home buyers who wanted to avoid paying stamp duty (first-home buyers in Victoria are not required to pay stamp duty if they purchase a property for $600,000 or less).
“Our aim is for our purchasers to end up paying $600,000 and under for their house and land package,” Mr Chan said.
“The majority of owner-occupiers in Tarneit have a budget around $550,000 and this is what we work towards.
“We consulted our builder partners on design outcomes that meet both our neighbourhood aesthetics and have a reasonable cost to meet the budget of the first-home buyers.
“We understand owner-occupiers’ desire to be living in a community where every other house in the street has a level of standard, and our design guideline has been designed to achieve this.”
Mr Chan said that Tarneit “represents a fantastic opportunity for buyers”.
“Many buyers in Tarneit are coming from Sydney and Western Sydney due to Melbourne’s relative affordability and lifestyle, which is a trend we believe will continue as Sydney land prices remain out of reach for many,” he said.
Growland also plans to build a community in Fraser Rise (in the Melton municipality) with about 430 homes.
