The Sydney Morning Herald announced the competition in retrospect on 6 April 1927 open to 'students of architecture at the University and Technical College'. Infuriatingly (or is that putting it too strongly) I can find little further evidence of the competition (and unsurprisingly, this plan was never brought into being). But the village did exist, in Couridjah; here's a slightly earlier announcement of building industry involvement in the creation of housing stock, from the Sunday Times of Sydney on the 15 August 1926 (p. 2):
Back to the plan: Duncan McPhee Smith, the winner from 14 entrants, was a twenty-year old Sydney Technical College student employed in the office of John Reid. In fact (we are told in the Picton Post for 22 June 1927, p. 2) Smith won not only the prize for best layout but also separate prizes for an administration block design and a chalet. This item also confirms that the Smith layout involves internal reserves (I count 25 blocks, many of which surely have internal reserves, but it's not entirely sure what each section is coded to represent): 'the architect has arranged... that each home will radiate around a Central Village Green.'
In 1928, Duncan McPhee Smith graduated and received a travelling scholarship - the Byera Hadley Scholarship - 'to assist the winner in undertaking postgraduate studies in one of the capitals of the Commonwealth, Sydney excepted' (Sydney Morning Herald, 4 August 1928 p. 16). He chose to use these funds to study town planning in Adelaide and died in 1987.
I'm unsure where the Picton Village was actually located; using South St. Couridjah as a bearing, though, I'm assuming that McPhee Smith's plan was intended to be laid out in this general area.
They did end up making parts of the village you can see corner of south st and east parade. Picton village.
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