We are delighted to hear that the Planning Minister recently approved Cape Otway Road Australia’s (CORA) application to rezone 550 acres of privately-owned land located in the hinterland of Victoria’s Surf Coast. The announcement will facilitate the planned development of a new state-of-the-art sports training and development facility and tourism destination in the hinterland of Victoria’s Surf Coast; at the gateway to the Great Ocean Road region.
Urban Enterprise were pleased to assist CORA by providing economic analysis and expert evidence to support the proposal. Our work evaluated the alignment of the proposal to achieve regional strategic objectives in relation to accommodation provision and reviewed the financial and economic benefits of the $350 million development, including its regional impact on economic output and job creation.
Our expert evidence was presented by Matt Ainsaar to the CORA Advisory Committee. The Final Report tabled by the Advisory Committee acknowledged and accepted the economic evidence.
Once constructed and operational, the CORA destination will deliver significant benefits to the regional economy and community through increased non-local and tourist visitation to the region, and facilitate local job creation through on-site employment for the mix of accommodation, retail, health, wellness and commercial uses.
It is encouraging to see steps taken to drive future investment in the State of Victoria as we navigate the pandemic and corresponding economic challenges that lie ahead.
Construction is anticipated to be completed in 2024. For further information, visit https://cora.net.au/