Approval fast tracking, a pipeline of long-term projects and financial incentives are set to be investigated in Victoria after the government in that state announced a new taskforce aimed at keeping the industry moving.
Set to be co-chaired by former Property Council (Vic) President and Lend Lease executive Roger Teale, Victorian Planning Authority chairperson Jude Munro and Victorian Public Service chief executive officer Stan Krpan, the taskforce will investigate planning and investment opportunities to boost the state’s building and development industry over the short, medium and longer term.
Set to run for three months, the Taskforce will:
- Provide real-time advice to government on issues which impact the industry
- Work with industry and unions to review existing major projects to ensure that worker safety during building and infrastructure delivery
- Oversee a fast-tracking of planning approvals, using ministerial powers, where decision have been delayed due to coronavirus impacts
- Provide advice on a pipeline of building and development projects over the longer term
- Advise on financial incentives and other current revenue measures – such as land tax, developer contributions, fees and rates – and make recommendation to help businesses to survive and fast-track investment.
The Taskforce will receive advice from three Industry Working Groups and be guided by a Steering Committee, involving representatives from industry peak bodies and unions.
The announcement comes as Planning Minister Richard Wynn has approved four new projects in inner Melbourne worth more than $1.5 billion.
- A two-tower development of 102 storeys and 59 storeys of commercial space at 118 City Road in Southbank – the higher tower of which will become Australia’s tallest building
- A 34-storey mixed-use development at 555 Collins street
- A 26-storey retail and office development at 52-60 Collins Street
- A 300-apartment complex at 550 Epsom Road in Flemington.
The latest developments came as the building industry has been hard-hit by COVID-19.
A national survey conducted by the Master Builders Australia found that more than half of its members were grappling with delays on work as a result of the virus whilst 70 percent expected to absorb additional costs associated with project delays as a result of the virus.
“This taskforce will help ensure the building and development industry is a driving force for Victoria’s economy through this pandemic and beyond,” Wynn said.
“It will help deliver existing projects more efficiently and assist new projects to get off the ground faster.”
Building industry groups welcomed the move.