A major new suburb that straddles the NSW and ACT border will soon be a reality, with the NSW Government today giving the go-ahead for the $1.89 billion Parkwood Urban Release.

The proposal, submitted by Yass Valley Council, will unlock more than 380 hectares for 5,000 homes and see a further 213 hectares protected as conservation lands. The project is part of a broader urban release, Ginninderry, that crosses the border into ACT.

Large areas of the Parkwood site will be set aside as a conservation corridor along the Murrumbidgee River and Ginninderra Creek.

Not only does this rezoning secure much-needed housing and services and generate jobs in the region, but it also safeguards critical environmental areas and provides some fantastic new public spaces for future residents.

The Parkwood Urban Release development is one of 19 projects included in Tranche 3 of the NSW Government’s Planning System Acceleration Program that is fast-tracking planning assessments to keep people in jobs and the economy moving during the COVID-19 crisis. To date, the program has created opportunities for more than 25,000 jobs and injected more than $13 billion worth of investment into the NSW economy.