The L-shaped site would realise about 30 one- and two-bedroom units for those in need of social housing.
A conceptual design prepared by James Seymour Architects Pty Ltd envisages a four-storey building comprising public car parking at ground level, resident parking on the second level and two levels of apartments.
A valuers report prepared for council was unable to find any transactions for airspace in regional Victoria and said while airspace has been “thinly traded” in Melbourne, it was mostly for high-value CBD locations.
The airspace was valued at $450,000 which is likely to be gifted to the social housing entities.
An officer’s report says the benefits of the project, by addressing the worsening housing affordability issues evident across Greater Shepparton, “greatly outweigh this contribution”.
In late 2019, City of Greater Shepparton was estimated to have the highest homeless rate in regional Victoria, with 5.56 homeless persons per 1000 people and 1041 households on the waiting list for social housing.
Greater Shepparton is guaranteed a minimum spend of $45 million under the Victorian government’s $5.3 billion Big Housing Build.
At the December meeting, councillors will be asked to note the proposed development and begin the public consultation process to enable council to sell or gift the airspace.
After the build, a memorandum of understanding would ensure the ground level public car park was returned to council.
