By ERWIN CHLANDA
This “road closed” sign will be consigned to history soon with the opening of the first part of Kilgariff, the suburb built by the NT Government’s Land Development Corporation because no private developer could be found.
And after years of horrendous land prices, climbing to more than $320,000 a block, the cost is an eye opener: the construction cost is $170,000 per block, and the corporation is selling at close to cost, says a spokesman.
In Stage 1A, 23 blocks have already been sold, for between $160,000 and $180,000 each. Stage 1B will provide a further 47 blocks.
The budget for the headworks, bringing power, water and sewerage services to the edge of the subdivision, covering Stages 1A and 1B, was $3.5m.
The corporation and its selling agents will be exhibiting at an expo arranged by the local Chamber of Commerce at Blatherskite Park on November 8.
Tradies and builders will tout their wares and services to home buyers benefitting from the lowest land prices the town has seen in years.
The development by the Land Development Corporation is not unlike the way land was “opened up” in the ’70s by the Commonwealth Government, prior to self government in the Territory.