ICD Property, the company responsible for the Gen Fyansford land development, has announced that construction will commence following an official groundbreaking ceremony on Friday 14 November, featuring City of Greater Geelong Mayor, Darryn Lyons.
Mayor Lyons said the development reflected the rebuilding of confidence in the Geelong community. Gen Fyansford’s Release B, consisting of 21 lots, was launched to the public on Wednesday 12th November. Michael Mai, Managing Director of ICD Property, said, “Release A sales have been an outstanding success, with 85% of all blocks now sold since the official release day in early October this year.” “Release B consists of 21 riverside lots, ranging from 302-700+ square meters. This release comprises of the second of the three private enclaves within Stage 1, which have been extremely quick to sell.
“The fact that a company such as ICD Property has selected Geelong to invest in reflects that Geelong is now being recognised as an attractive place for external companies to invest,” Mayor Lyons said.
“This project will create a number of jobs for the Geelong community – not just during the construction phase, but ongoing jobs in the retail and commercial sectors.”
The project is forecast to deliver 76 full time direct construction jobs and 269 full time indirect jobs, based on a 10 year construction period. In addition, 285 new, ongoing retail jobs and 440 in the commercial areas resulting in a significant stimulus to Geelong’s economy, with an estimated total of 1,070 full time equivalent jobs being created.
The commencement of the construction works follows the recent launch of the second sales release, consisting of 21 lots, ranging from 302- 700+ square metres. This release is the second of the three private enclaves within Stage 1 and which, according to ICD’s Managing Director Michael Mai, have been extremely quick to sell.
“Release A sales have been an outstanding success, with 85% of all blocks now sold since the official release day in early October this year.
“Gen Fyansford is regarded as a premium location, with its close proximity to top schools, the CBD, Ring Road and a distinctive natural setting. With very reasonable starting prices, I expect more strong results as Gen Fyansford progresses into the second release of sales,” Mr Mai said.
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