This article in today’s Age got me thinking..
http://theage.domain.com.au/featured-suburbs/best-streets-coburg-3058-20110604-1fm4a.htmlIs Coburg the new Brunswick, or is it a bridge too far?
I’m currently looking at two properties in Coburg for possible residential development. Both are in what I’d call ‘good’ streets, south of the psychological boundary of Bell Street and close to Tram, Train and Bus routes.
Moreland City Council are in my opinion by far one of the best Council’s to work with in Melbourne. From a Town Planning perspective, their planning officers are open to new concepts, and straight down the line with their positions.
Whilst I’ve seen some comments ruing the increased subdivisions of these traditionally larger blocks (>650sqm), with appropriate siting and design, these new developments have enhanced the neighbourhood character of Coburg and improved the building stock.The amenity, road network, council services and facilities have improved greatly over the past five years.
The Coburg Initiative – Council’s Structure Plan for future development is well underway.
From their website…
Some of the key benefits of the Coburg Initiative are:
Better integration of transport options, including cycling, walking and public transport accessibility.
Clean, safe and enhanced streets and high-quality public spaces.
Innovative new housing, taking in to consideration the genuine needs of current and future communities.
Genuine environmentally sustainable development through all aspects of the project.
The creation of a vibrant and progressive commercial and residential hub for Melbourne’s inner north.
(http://thecoburginitiative.com/why)Other considerations would be the quality of schools and recreation areas.
The Merri Creek forms a spine of parklands to the east, and small pocket parks are dotted throughout the street network.
Secondary Schools are sorely lacking in the immediate area, but still proximate to the Essendon cluster of quality public and private colleges, and the Melbourne selective entry schools (MacRob and MHS) are less than 45 mins by Public Transport.What do you think? Is Coburg bridge too far, or the next in line to the throne?
Breece
I worked for Moreland (planning department) for a short while a couple of years ago and agree that as a Council a lot of what they are doing is very exciting and innovative. Also when I was there the planners were working hard to get consistent decisions which I think helps.
As for Coburg, to me it seems like the equivalent of Surrey Hills. In the 90's it was seen as a bit far out but affordable compared to Camberwell and now look at it! Even though we are doing some inner city development the truth is we are still pushing out in the fringes so I believe some of these more middle ring areas will become the new spots.
Cheers,
MelanieFair dinkum, some of you folks have lots of money. $610k median house price!
What sort of buy were you thinking? Unit, House, Renovate?
Keen to understand what sort of strategy you have investing in an area like this. Mainly because it is the opposite of anything I think about. The holding costs must be very high and the yield super low, so your Capital Growth Crystal Ball must be pretty darn good!
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