NSW government accelerates Ginninderry suburb rezone, paving the way for 5000 homes

The approval would pave the way for 5000 homes for about 13,000 residents in Parkwood, which would be on the NSW side of Ginninderry - a cross-border development with the ACT.

It came after the Yass Valley Council recommended the 600-hectare parcel of land for rezoning last year. This followed 11 years of consultation. The council put forward the application to the NSW government.

The $1.89 billion development was approved through a NSW government program designed to speed up planning assessments in response to the coronavirus pandemic.

The first development applications for the project would be submitted in the next six months, as required by the NSW government's program.

Work is expected to start next year and it would take about 25 to 30 years for the development to be completed.

It was originally estimated work would not start on the NSW side of the project until at least 2034.

NSW Deputy Premier John Barilaro said the project would bring an employment boost to the region. He said there would be about 3800 jobs during the construction phase.

"During the pandemic people have realised the perks a regional lifestyle can provide and projects like the Parkwood urban release make a tree change possible," he said.

"Parkwood is a fantastic example of what's possible when you think big in regional NSW."

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Ginninderry is a joint venture between the ACT government and Riverview Developments, a subsidiary of the Corkhill Brothers group.

The Corkhill Brothers own the land in NSW but as part of the joint venture this would be surrendered to the territory government. The group previously owned the ACT land but this was purchased by the territory government for $4.5 million in 2016.

There would be about 30,000 residents and 11,500 homes across four suburbs in Ginninderry.

The development would span across 1600 hectares of land across the ACT and NSW with homes to be built on about 800 hectares.

An agreement between the Yass Valley Council and the ACT and NSW governments has been signed called the Parkwood protocol.

This protocol would help to enable discussions around services and infrastructure. This would help to determine factors for the "borderless community" such as whether and ACT or NSW authority was responsible for the delivery of services.

Criticisms of the project have previously been raised on the preservation of Indigenous heritage near the site, along with the potential of an increased bushfire risk.

Development of Ginninderry on the ACT side is well under way. The first residents of suburb Strathnairn moved in earlier this year.