Larrakia Development Corporation is now in a joint venture to develop a quality housing estate on the Charles Darwin University (CDU) campus at Palmerston.
A formal contract was signed by the CEO of the Larrakia Development Corporation, Mr Greg Constantine, Mr Geoff Smith of CIC and the Chancellor of the Charles Darwin University, former Supreme Court Justice, Sally Thomas in December 2010.
The management team of the Larrakia Development Corporation worked closely with CIC Australia Ltd (CIC) and CDU for most 2010 flesh out a development plan for the 55-hectare site.
The contract requires the Larrakia Development Corporation to landscape approximately 30 hectares of the development site, including parks, road reserves, and the entry statement. The Corporation will also provide Public Art for the development, allowing maximum involvement by Larrakia Environmental Services and Larrakia Homes who will bring its award-winning home design and building skills to the University development once the earthworks and essential services are complete.
The idea to use part of the University’s 127 hectare Palmerston campus was ratified by the Governing Council of the CDU in May this year, as a partial answer to Darwin’s housing shortage.
The Larrakia Development Corporation used its established development credentials and joined with the Canberra-based CIC, framing a proposal, which was appraised by the University’s Governing Council.
While the joint venture proposal was under consideration, the Corporation and CIC Australia Limited, continued their lengthy relationship, partnering on projects in the development of Darwin’s newest sub-division at Lyons.
