AU Gateway key to connect Hoddle St to Eastern Freeway under new design plans for East West Link
Property Here - Tuesday, July 16, 2013
An artist's impression of the elevated "gateway" bridge that would link Hoddle St to the Eastern Freeway.Source: Supplied
A NEW elevated "gateway" bridge would be built to link Hoddle St to the Eastern Freeway under new design plans for the multi-billion-dollar East West Link.
On and off ramps within the tunnel would be built at Elliott Ave near the Melbourne Zoo as the Napthine Government seeks to minimise Royal Park disruption.
But residents along some parts of Alexandra Parade will lose their homes, to allow for Alexandra Parade to be shifted slightly north while the tunnel is built.
Houses in other parts of Collingwood, Clifton Hill and Parkville will also be lost.
Property expert forecasts of home values suggest tens of millions of dollars in compensation will have to be provided by the Government as a result.
The details of the route for the 6km east-west road have been released by Premier Denis Napthine, showing extensive changes to the Eastern Freeway entrance.
The plan shows motorists would have greater access to the zoo and state netball and hockey centre because of the Elliott Ave design.
Victorian Greens leader Greg Barber warned this could choke surrounding streets, however, and "the inner-city oasis of Parkville is going to be destroyed".
The tunnel will be bored well below the surface of the land, meaning that Melbourne Cemetery is unlikely to be affected.
Southern Metropolitan Cemeteries Trust chief executive Jonathan Tribe said the tunnel would be "at least 30m beneath the surface", while graves were dug to about 3m.
The Government insists it has tried to reduce the number of homes to be acquired for the project by tunnelling underground for more than 4km.
But tens of millions of dollars will be needed for angry residents who will have to give up their homes as the massive project kicks off.
Recognising the impact on the 118 residents and businesses directly affected in the area, Dr Napthine assured property owners that legal costs, valuations and stamp duty costs would be covered for those facing compulsory acquisition.
School relocation and other costs could also be covered.
More than 250 other property owners who would now face a tunnel under their land could also apply for some compensation.
Dr Napthine said it was "not appropriate ... at this stage" to discuss the budget for acquisitions, but that it would be included in the $6 billion-$8 billion price tag of the project.
"We will be fair and compassionate in dealing with people who are affected," he said. "We want to make sure they are properly and fully compensated."
Homeowners caught up in the compulsory acquisition can expect compensation anywhere from $280,000 for a one-bedroom unit up to about $800,000 for a renovated single-fronted house, according to property valuation experts at WBP Property Group.
Senior property adviser Phil Manning estimated valuations would range from $550,000 to $800,000 for most stand-alone houses in affected areas of Collingwood and Clifton Hill.
Homeowners will know for sure if their home is to be acquired when they receive a "notice of intention to acquire".
Compulsory acquisition expert Roger Batrouney, practice group leader at Slater &Gordon, said owners should expect a conservative offer from the Government, with up to 10 per cent added to the value to compensate for emotional distress.
"At that point, after you pick your heart up off the ground, get a valuation from your own valuer," Mr Batrouney said.
But along some parts of Alexandra Parade and Princes St in Carlton, lower traffic could result in about a 10 per cent increase in prices as amenity improves, according to Mr Manning.
Read more: http://www.heraldsun.com.au/realestate/news/gateway-key-to-connect-hoddle-st-to-eastern-freeway-under-new-design-plans-for-east-west-link/story-fndba8uq-1226680580899#ixzz2ZMofDICc