The Economic Development Directorate has announced the LDA will develop Denman Prospect themselves:
The Land Development Agency will develop the new Molonglo suburb of Denman Prospect rather than sell the 100 hectare site as an englobo parcel.
The decision was taken following extensive negotiations with a potential purchaser which finally proved to be unsuccessful.
“While it is disappointing that in the end we were unable to reach agreement on the sale, there will be no change to the government’s published land release program,” said David Dawes the Chief Executive of the Land Development Agency.
“I have had preliminary discussions with the Master Builders Association and the Housing Industry Association, the two peak bodies for housing construction in the territory, and they are both very happy to work with the LDA as we develop this new suburb.