There are plans to convert the former site of the Charles Sturt University (CSU) into a residential estate in five year's time.

The residential project is located at central Albury and will be bounded by Olive, Guinea, David and Wilson streets and contribute to efforts to revive the area.

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“The master plan looks to preserve the old while encouraging the new. It is proposed that key historic and heritage elements of the site, such as the heritage listed houses along Olive St, be preserved and sold separately on the market,” said the Head of the University’s Albury-Wodonga campus, Professor Allan Curtis.

Executive Director of CSU’s Division of Facilities Management, Stephen Butt, explained the plan also allows for a further 130 new residential homes to be built on the site, “which will vary from conventional and ‘attached’ housing to low-rise apartments. This housing model is the way of the future, and a legacy for Albury city for many years to come”.

Director of Stanley & Martin Real Estate in Albury, Steve Martin, was appointed by CSU to advise on the planning for and disposal of the site.

“Historically, Central Albury properties have been tightly held and very hard to come by, so there is much anticipation and excitement surrounding the release of CSU’s properties,” Martin said. “Residential purchasers will be attracted by the convenience of living two blocks from Albury’s retail hub, restaurants and entertainment venues, while commercial interest will come from business owners relishing the opportunity to operate from a prominent location in the central business district.”

A draft subdivision plan is due to be presented to Albury City Council in February, which is envisaged to be completed within five years.

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