Surfcoast and the Geelong Ring Road

The Geelong Ring Road is nearing completion. A small overpass at the Waurn Ponds end that connects onto the Old Geelong Road is all that is left to finish.

This is set to make a huge impact on the Surfcoast region. Dependent on your point of view locals may argue that the environmental damage and change in culture can only harm the area. And others will argue that it will provide jobs and a higher education system. The debate will go on for a long time.

But one thing is certain, the ring road is here.

The Geelong Ring Road will provide greater connectivity to some of Victoria’s most popular tourist destinations including the Great Ocean Road. If you are a regular traveler to or from Melbourne then you can eliminate 29 sets of traffic lights thereby reducing your travel time by around 10-15 minutes.

Tourism studies have an estimated 300,000 people visiting the region each year, injecting between $15 – $19 million dollars thus creating 1,400 permanent jobs per annum.

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How will the ring road affect real estate?

Surf Coast Shire is expected to grow significantly, with most of this growth occurring in Surf Coast East.

The Economic and Land Use Impacts of the Geelong Ring Road (2009) is a new report that examines likely growth areas as a result of the development of the Ring Road and the duplication and upgrade of Princes Highway West. Funded by the City of Greater Geelong, G21, the Committee for Geelong and RDV, the report will inform Council and agency planning processes for services and infrastructure.

Released three weeks ago, the report shows how the Ring Road and Princes Highway Upgrade are expected to increase the region’s population, industry and employment opportunities, and how this is likely to impact on the region’s land use requirements. It also presents specific recommendations on how the region can make the most of the opportunities that these important pieces of infrastructure present.

The information provided may affect land rezoning and help target investment attraction efforts. The report will also help us understand which businesses are likely to relocate because of the infrastructure improvements. This may well result in freeing up of some large sites with redevelopment potential for more valuable uses.

Click here to view the “Economic & Land Use Impacts of the Geelong Ring Road” (2009)

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www.steveryan.com.au

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