Victorian developer Moremac has established a first of its kind community Sustainability Fund at its Sunbury residential development project Kingsfield.
To be known as Kingsfield Sustainability Fund Inc., the fund is designed to unite local minds and inject sustainable initiatives into the community through a collaborative, grass-roots model.
The Fund has been established to provide a framework for the Kingsfield community to hold money and property to be used for eco-friendly initiatives such as electric car charging stations, solar battery sites, revegetation areas and community gardens.
With major businesses like Origin Energy and Green Sky Australia onboard as partners, Director of Moremac, Bryce Moore, said residents will be empowered to engage with eco-conscious living in their own backyard, via a system that contributes back to the community.
“Each time residents take part in sustainable housing solutions, such as the installation of solar panels into their new homes, money will be able to be contributed into the fund,” Mr Moore said.
“For example, both Origin Energy and Green Sky Australia have agreed to donate $250 each time they are selected as a solar panel provider – this is further incentivised by Moremac with a $2,225 contribution for homeowners towards the cost of their solar panels.”
“In addition, a site has been identified to be gifted to the fund and used for sustainability-related initiatives to be nominated by the Kingsfield Community. We expect that more sites will be identified as the development progresses, providing the opportunity for the community to plan its own environmental projects. Land and funding together will provide the community with the ability to develop their own sustainability projects,” he said.
“While Moremac representatives currently sit on the Board, this will transition to be managed solely by the residents of Kingsfield, who will identify initiatives that reduce their environmental footprint and can be utilised communally.”
Located 40 kilometres north-west of the Melbourne CBD, just a short distance from popular living destinations such as Plumpton and Melton, demand at Kingsfield has skyrocketed and Moremac has recorded in excess of 300 sales over the last financial year.
“More and more we’re seeing buyers attracted to the sustainability initiatives that we are rolling out, with residents actively engaging with the eco-friendly ethos that we’re promoting within the project,” Mr Moore said.
“In addition, Kingsfield has been popular with those seeking a lifestyle change of more space and greenery, with 50 per cent of the Kingsfield site dedicated to open space, including parks and walking tracks, along with areas to maintain and protect Emu Creek, and the natural wetlands and conservation reserve.”