How an old smelter could ease Geelong’s housing shortage

An expression of interest process overseen by big four consulting firms KPMG closes in three weeks, bringing the Pittsburgh company closer to starting what it calls a “legacy project.”

After the smelter closed in 2014, Alcoa published a master plan for the 515-hectare site three years later.

It was said that a sustainable mixed-use community would make a significant contribution to Geelong’s future growth.

Alcoa’s plan helped shape the overarching Moolap Coastal Strategic Framework Plan, published in 2019. In addition to the Point Henry site, the plan also includes the Cheetham wetlands and former saltworks, the Moolap East area bounded by Portarlington Rd to the south and Clifton Ave to the east, and an industrial estate to the south.

In total, the 1,200-hectare area – two and a half times the size of Fishermans Bend – could accommodate at least 12,000 new residents.

This would go a long way towards achieving the State Government’s target of delivering 140,000 new homes in Greater Geelong by 2051.

That number is more than double the existing stock.

Warren Sharp, manager of Alcoa’s Point Henry site, said with decommissioning work completed and environmental cleanup well underway, it was the right time to look for a development partner.

He said the location, 7km from the CBD, offered one of the greatest opportunities for urban development in Victoria.

“With a strong commitment to community consultation and health, safety and environmental management, the work undertaken to date has unlocked new opportunities within our land assets,” Mr Sharp said.

“We are looking to partner with a highly qualified and experienced developer to leverage their skills, knowledge, expertise and reputation in the property development sector to drive the long-term redevelopment of the site.”

Before construction can begin, a plan for the district structure must be drawn up. This process usually takes about five years.

Industry sources said interest in the Moolap scheme had waned since Lisa Neville, former Bellarine MP and senior Labor minister, retired.

“She was a real driving force… a champion of the plan and its execution,” one source said.

Michael Johnston, chief executive of the Committee for Geelong, said while it was exciting to see Alcoa move closer to development, it would take significant time to obtain the necessary planning approvals and transport links.

“Time is running out,” he said.

“The redevelopment of Point Henry is a huge undertaking.

“There are different opinions about the best use of this site, but whatever your opinion, they all lead to more housing supply in Geelong.

“And that is something we should all get behind.”

Dow Chemicals’ location in the Moolap East area continues to pose a barrier to maximising the housing potential of that area due to a 2km buffer zone.

“A future decision by Dow to vacate the site will unlock the area’s ultimate potential for a residential community and help alleviate the significant demand for coastal living on the Bellarine Peninsula,” the Moolap plan states.

Dow has previously indicated that the site remains an important production location.