Defence Housing Australia (DHA) today reached a major milestone with the unveiling of Meyer Reserve, the central hub of its Bayriver residential development at Largs North.
“This development really signifies the future of housing in South Australia,” DHA Managing Director Peter Howman said. “It ticks all the boxes when it comes to boosting the housing construction industry in South Australia.”
The State Government recently announced $88.7 million funding as part of its Affordable Housing Stimulus Package, which includes an extension to the Housing Construction Grant for people buying or building a brand new home, as well as funding to boost affordable housing.
“Bayriver signifies the emergence of a community with incredible potential both now and in the future,” Mr Howman said. “Those wanting to capitalise on the extended grant will have a unique opportunity to secure a property in a masterplanned, residential community. But they will also secure a stunning waterfront lifestyle, less than 18km from the CBD.”
The residential development, which sits on 8.8 hectares of level land on the eastern side of the Lefevre Peninsula, will provide 127 lots including houses, apartments and townhouses. Of these, more than 50 lots are still available for purchase.
“DHA plans to retain 35 properties for Defence members and their families and15 per cent of the properties will be designated affordable housing. The remaining lots are for sale and will qualify for the extended grant,” Mr Howman said.
Meyer Reserve is named in honour of Heinrich Carl Meyer. Meyer was a founding member of the South Australian Harbours Board and the namesake of the old Meyer Oval on which the site sits.
“Bayriver promises to be a community that is innovative and progressive,” Mr Howman said. “Meyer Reserve, named after the oval on which Bayriver has been built, will be the centre of that community. It will be a place and a space to call home.”
DHA is an award-winning residential developer who is focused on providing high-quality housing appropriate for the local and surrounding environment. DHA has invested $250 million in several large developments across the country. It has a development pipeline of more than $1 billion.