Plans of a $350 million tourism, sports, retail and residential development has been announced for Victoria’s surf coast.
The vision for the Cape Otway Road Australia (CORA) project is to attract international elite sports clubs to the development’s training facilities and to serve as a tourism and accommodation hub for visitors to the Twelve Apostles on the Great Ocean Road.
The consortium behind this project includes:
- Construction firm, Multiplex
- Accounting and consulting firm, EY
- British firm, ProLeisure
- Consultancy firm, MediaCom Sport & Entertainment
The proposed development is going to be located at Modewarre, approximately 100 kilometres from Melbourne and 27 kilometres from the Great Ocean Road. CORA will be occupying over 240 hectares of land, which includes 80 hectares to be set aside for conservation.
Source: Cape Otway Road Australia
The project will include facilities that will cater to various sports as well as four and five-star hotel accommodation for athletes and tourists, a retail village, and a tourism precinct for Great ocean Road visitors. A wave pool and an organic farm that will provide produce for restaurants on-site are also included in the plan.
Other features of the development will include a bakery, micro-brewery and fresh-food hall as well as an arts hub that will have a design studio and art gallery.
“Our research has provided validation of the global need for a state-of-the-art facility in Australia that can match up to, and surpass, existing global offerings,” MediaCom Sport & Entertainment worldwide chair Jane Ratcliffe said.
The CORA project is expected to create up to 1,000 jobs during construction as well as 500 direct and ongoing positions once operational.
The consortium is looking to begin construction in 2018.
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Source: Australian Financial Review