Retirement village research begins
The results of a due diligence process will determine when development of a senior housing facility in Deniliquin will proceed.
Edward River Council selected a preferred developer for the long awaited project in March, but refuses to release the company’s name
Council general manager Adam McSwain said any further progress will depend on the company’s research findings.
He said the due diligence process includes the contractor providing more information on how the site can be developed.
‘‘They will also do some market research on the commercial viability of the project, and the need for such a facility.’’
Council’s expression of interest process called on a contractor to ‘‘finance, design, build, own, and operate a retirement village at Deniliquin’’.
Mr McSwain said a formal development agreement would not be finalised until after the due diligence process, if the company decides to proceed.
He said council will meet with the company at the end of this month to see if a determination has been made.
In the meantime, Mr McSwain said efforts to acquire the rest of the land needed for the retirement village are progressing.
The land is the battleaxe block starting at the corner of Hardinge and Harfleur Sts and running behind Hardinge St buildings toward Poictiers St.
‘‘We’re working through the process of acquisition which has already been approved by one minister — the NSW Minister for Finance,’’ Mr McSwain said.
‘‘It has since gone to the Office of Local Government, and then to the Minister for Local Government, and they came back to us wanting some more information.
‘‘Our lawyer is in the process of submitting that extra information.’’
Council acquired the parcel of land which runs through the centre of the block in August 2016, and preparation works for that block were undertaken in February. This included flattening the land and providing some of the required service connections like water and sewerage.
The land preparation works were funded using part of a $400,000 allocation from the Murray Darling Basin Regional Economic Diversification Program. Mr McSwain said there is enough funding left to complete preparation of the second block.