Development Victoria is considering the next steps for the landmark Junction Place precinct, after ending its Development Agreement with private developer, Central Place.
The decision was made due to a lack of progress with the project. It means Development Victoria can now take back control of the project and work on its next phase.
Development Victoria’s Group Head Precincts, Geoff Ward, said it was not a decision taken lightly, however, there were obligations in the Development Agreement that had not been met by the developer.
“We are disappointed at the lack of progress on Junction Place to realise the original vision for the project,” Mr Ward said.
“We are working with Council and the community about the project’s future to ensure we achieve a great outcome for the site.”
Wodonga Mayor Cr Kev Poulton said the lack of progress on Junction Place has been an ongoing concern for the council for some time.
"This afternoon, the council has been officially requested by the applicant to withdraw the retail premises application," he said.
"Development Victoria has committed to working with the council and the community in realising the best possible outcome for the precinct in line with the community aspirations.
"We will, of course, support their engagement with the community and hold them to their commitment to keep the community informed."
Junction Place is Australia’s largest regional urban renewal project, rejuvenating the historic railway station and yards in central Wodonga with a vision to redevelop the site into an established precinct that hosts entertainment, restaurants, cafes and public open spaces for the community to enjoy.
“We know there is great interest in Junction Place – and we will continue to work with the Wodonga community on the next steps for this important site,” Mr Ward said.
“There is much work ahead, but we will ensure to keep locals informed of any future decisions.”
The tender process for Precinct 5 within Junction Place has been formally terminated.
The Junction Place redevelopment was projected to contribute about $350 million to the local economy and create more than 1000 jobs.