A contract extension request to advance a $40 million plus residential and commercial development on land once occupied by the city's police station and Richardson Park has been agreed to by Wodonga Council.
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Developer John Mooney from Criterion Property Group wrote to council last month formally requesting the extension due to COVID-19 challenges including tenancy uptake, rising construction costs and contractor availability.
A further amendment to the approved plans has been flagged which could again increase the residential component and reduce the retail and commercial offering.
Legal advice was sought and recommended a council resolution was required to vary approval dates.
Councillors last night voted unanimously to extend all dates by 12 months.
In his letter to council, Mr Mooney said: "Our progress has all been made against the backdrop of the COVID-19 pandemic which has led to significant increases in construction costs as well as frustrating our marketing efforts with lockdowns and general uncertainty.
"Despite this we have secured a number of contracts on lots in the project with the majority being residential.
"It has been more difficult to procure on the retail, commercial spaces given that most businesses have been concentrating on the 'here and now' scenario rather than future planning their real estate needs.
"These market conditions have meant we have needed to spend more time reworking our stage one approval and been able to spend only minimal time on the (Stanley Street parcel)."
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