Alice Springs-based firm Asbuild has reactivated plans for 30 luxury townhouses as the Red Centre property market skews to rentals.
The all-in-one-line firm won approval for the proposal in 2020.
That approval for the project at 19 South Terrace, The Gap, however, lapsed and plans have now been refiled with the Northern Territory Government.
They are on notification until June 6.
The plans include 30 three-bedroom townhouses or grouped homes, 18 visitor carparks, 60 resident carparks, open space and a shared barbecue area.
Some work on the shared driveway had been completed on the 1.1ha site, which is across the Todd River from the Lasseters Casino and Alice Springs Convention Centre.
Property prices in Alice Springs have dropped 6.3 per cent in the past year to a median value of $390,014, according to Cotality’s regional market update.
Meanwhile rent is comparatively high at $591 a week, up 2.9 per cent in the same timeframe, for the 12 months to April.
Also in Alice Springs, Melanka gained approval for its apartment complex plans for the former site of a nightclub and backpackers hostel at 94 Todd Street on February 11.
The developer led by Michael Sitzler of Sitzler construction revealed the project would cost about $100 million and was scaled back from 174 units to 144 in the approved plans.
The territory government is expected to acquire half of the apartments and the others would be available to rent.
Meanwhile, the hunt is on until the end of the month for a new planning commissioner and up to five members to join the Northern Territory Planning Commission.
The development space across the Top End is expected to boom in the next few years off the back of two major energy projects which look to move ahead.
