People’s attraction to water for recreational and lifestyle reasons does not necessarily have to be coastal. In spite of being a long way from the sea, Moira Shire is experiencing one of regional Victoria’s highest growth rates, largely due to the Murray River running along its northern border.
During 2002/2003, 609 building permits for work to the value of $49 million were issued. In 20003/2004, permits increased to 770 for projects worth $68 million.
In the past three or four years, residential development has boomed particularly in Yarrawonga on picturesque Lake Mulwala. Built in 1937, Lake Mulwala on the Murray River has long been a popular holiday destination, water sport and recreation area.
A development proposal for 162 hectares on the Lake is expected to provide a massive boost for the local economy.
With its 1,200 waterfront residential allotments, an 18 hole championship golf course and clubhouse, 100 room resort hotel including a convention centre for up to 500 delegates and new marina, this development is valued at $350 million.
Additional water frontages will be created with three new extensions to the Lake flowing into this former farm located on the eastern edge of the Yarrawonga township. As well as water frontages, a combination of townhouse and detached homes will offer spectacular views and access to the golf course designed to meander through the residential allotments and around the new water features.
Council will shortly place a planning scheme amendment, including the required rezoning, on public exhibition. With 500 new jobs during the construction phase and when the resort is operational, as well as an economic feasibility study estimating that this development will bring 52,000 additional visitors to the Shire each year, it is expected the community will support this project.
An environmental impact study, plus various construction and development controls, will be required before approval for the development is given.
Council is hopeful that approvals will be in place by the end of this year. Construction would then commence early in 2005 with work completed over the next six to seven years.
