A Decade in the Making
A long-awaited Ferntree Gully housing project may finally move forward after nearly ten years. Developers now market the former Norvel Road quarry for around $60 million. The 7.55-hectare parcel already holds approval for 138 residential lots. Therefore, the site presents a ready pathway toward a large housing subdivision.
Former Quarry Site Returns to Market
The land sits at 29 Norvel Road in Ferntree Gully. Previously, China-based Hong Se International purchased the parcel for roughly $40 million in 2016. However, the planned housing estate never progressed during the following decade. Consequently, Cushman & Wakefield now manages a new sales campaign for the land.
Strong Interest from Developers
Agents report strong interest from established developers, local syndicates and fund-backed groups. Moreover, the property offers one of the largest approved infill development sites in Melbourne’s east. Therefore, developers could deliver house-and-land packages or subdivided residential lots. A sale of the land could very well be finalised during 2026.
Location Adds Appeal for Buyers
The former quarry borders Blind Creek and nearby preserved bushland. Meanwhile, residents would gain direct access to the popular Blind Creek walking trail. Ferntree Gully station and Boronia shops sit only 1.6 kilometres from the site. Additionally, the suburb already supports strong housing demand across Melbourne’s eastern corridor.
Rising Property Prices in Ferntree Gully
Property values across the suburb continue rising steadily. Median house prices now sit near $908,500. By comparison, the median price reached about $744,000 in 2019. Consequently, developers see growing demand for new housing opportunities in the area.
