A more accessible Mornington Peninsula
Work recently commenced on the $750 million,25-kilometre Peninsula Link Project - formerly known as Frankston By-pass - with construction of the $9.4 million Lathams Road overpass at Carrum
Downs. The body responsible for the project, South Eastern Integrated Transport Authority (SEITA) which had responsibility for overseeing the delivery of EastLink, was renamed Linking Melbourne Authority in July this year to reflect its ongoing role managing complex road projects for the Government and the broader community. "When Peninsula Link is completed Tullamarine Airport will be accessible from the southern Mornington Peninsula in less than 90 minutes off-peak," Market Line - Opteon General Manager Specialised Services Group Mark Holland said. As well as substantially reducing travel times to and from the Peninsula, the new road will relieve traffic congestion in and around Frankston, and on the Nepean Highway. Mornington Peninsula tourist attractions, especially the wineries, will benefit from improved access to the region from the densely populated eastern and south-eastern suburbs which account for around 40 per cent of Melbourne's population. Mark Holland expects areas like Carrum Downs and South Dandenong to become industrial hubs as commercial enterprises relocate to take advantage of the available workforce that will then be within reasonably short travelling times of these suburbs. With limited land available for residential development on the southern Mornington Peninsula, the law of supply and demand will dictate property values down the track as is invariably the case when an area is served by improved infrastructure. "It's also likely that we'll see increased demand from executives for lifestyle properties located on the southern Peninsula when commuting time between the CBD and the emerging south-east region is substantially reduced."
The Inside Line, Market Line Opteon, Edition 3/2009