$2 million boost for Lavington businesses
Wednesday 19 December 2018
The NSW Government has committed $2 million towards the Wagga Road Revitalisation (Stage 2) in Lavington, encouraging local business growth, investment attraction and job creation.
Following the success of the funding application by AlburyCity to the Growing Local Economies Fund, the second stage of the project will include road and streetscape upgrades benefiting businesses already located in the area and encouraging business growth in the precinct.
Understanding the importance of the project in delivering on the Lavington CBD Masterplan, AlburyCity will contribute over $2.5 million to the project. A strongly-aligned drive by both businesses and the wider community to progress the redevelopment of Wagga Road has been a major factor for AlburyCity’s push to secure project funding.
With Stage 1 completed in 2016, beautification works have been an important consideration for precinct businesses investing an estimated $30 million in private capital. Projects include the Northpoint Tower, ambulance station, Aldi, a major medical centre and UPA Murray Aged Care facility.
Stage 2 of the Wagga Road beautification works will significantly contribute to economic growth in the Albury region, beyond the construction phase. Improved economic performance of the Lavington CBD, in particular, is expected as a result of job creation, improved safety and reduced vacancy rates.
The Project will have a strong economic impact delivering 31 ongoing jobs and contributing approximately $5.1 million in net community benefit. This will in turn address the economic downturn experienced in the area over the recent past.
With a focus on the area between Kaylock Road and Barlow Street, the project is anticipated to commence in the first quarter of 2019.