property
Greensborough Rezones 12 Hectares for Mixed Residential and Commercial Development
City planners target 12 hectares of former industrial land along River Road to allow mixed residential and commercial use.
How we reported this
The Greensborough City Council released a rezoning application on July 8 that would convert 12 hectares of underused industrial parcels in the Riverside neighbourhood from heavy manufacturing to mixed residential and retail zoning.
The proposal arrives as local property values rose 18 percent between January 2025 and June 2026, according to records from the Greensborough Real Estate Board. Housing demand has outpaced supply in several inner suburbs, pushing average rents for two-bedroom units above $2,150 a month.
Local Sites and Organisations Involved
The land sits between the disused Watson Manufacturing buildings on River Road and the eastern edge of the Greensborough Recreation Reserve. Planners note the site lies within walking distance of the weekly farmers market operated by the Riverside Business Association and the after-school programs run at the Greensborough Community Centre on Station Street.
Traffic studies attached to the application show the rezoning could support 650 new dwellings plus ground-floor shops. Council documents list a target completion window of late 2029 if the change is approved by the planning panel next month.
Evidence and Market Figures
Median sale prices for detached homes in Riverside reached $712,000 in the second quarter of 2026, up from $603,000 two years earlier. The rezoning application cites similar density increases in comparable corridors that added 420 units without exceeding existing road capacity, according to modelling by the council's transport team.
Public submissions close on August 15. Residents can review maps and send comments through the online portal on the City of Greensborough website or in person at the planning counter on High Street. A final decision is scheduled for the September council meeting.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.