A BOLD vision to transform Melbourne’s west with a $30 billion “super city” is nearing reality with the State Government to decide on the project within months.
A high-level consortium has been solidly negotiating with government officials over the past year after the plan was first mooted in 2015.
The Herald Sun can reveal that up to 80,000 residents and 50,000 students are planned for the precinct which would see local and overseas universities collaborate to provide world-class education across several campuses.
The backers of Australian Education City want to turn a huge parcel of surplus land at East Werribee into a dynamic centre with 30,000 dwellings, medium to high-storey towers, universities, schools, a research and development hub, and a thriving town centre.
Terrific idea so long as it isn’t counting on endless citizenship exports for demand. Still, when immigration is inevitably slashed the dollar will tumble so price competitiveness will offset the collapsed citizenship bribe. It’s a built-in hedge.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
