$1.24bn worth of development approved in Lake Mac

Filed under Council, Lake Macquarie, News ~ by Press on  30 Jun 2019

Development continues to boom in Lake Macquarie despite a national downward trend, with a record $1.24 billion worth of development approvals in the past financial year.

Major new housing subdivisions in the City’s west and south, commercial developments at Cameron Park, Gateshead and Morisset, and the $70 million Wakefield motorsport complex helped push the total past the 2017-2018 figure of $1.16 billion.

Lake Macquarie City Council Chief Development Planner Liz Lambert said the result reflected ongoing confidence in the City’s direction.

There has been a real push in the past five years to promote and embrace appropriate residential and commercial development in Lake Macquarie,” Ms Lambert said.

Seizing opportunities to welcome new development will attract new residents, keep skills here in the Hunter Region and provide myriad other flow-on benefits.”

Electronics giant Toshiba is among the companies drawn to Lake Macquarie, capitalising on the City’s development potential, value and proximity to Sydney.

Construction is nearing completion on a 1832sqm warehouse, workshop, training area and office at Morisset, establishing a regional hub for the company.

Council Head of Development and Planning Justin Day said Lake Macquarie had positioned itself as a base for industry leaders and innovators.

Toshiba’s decision to set up shop in Morisset demonstrates our growing ability to attract major national and international companies,” Mr Day said.

Cameron Park emerged as the number one boom suburb in the past financial year, thanks to widespread residential development in the area, approval of a $26 million

Woolworths shopping centre on George Booth Drive and a $24 million aged care facility slated for Portland Drive.

Morisset Park – including Johnson Property Group’s Trinity Point development, Toronto, Windale and Wakefield were the next-best performing suburbs in terms of the value of approved development applications and DA modifications.

Ms Lambert said that while the total number of approved DAs fell slightly in the past financial year, their overall value increased.

We tend to be buffered to some extent in Lake Macquarie by extremes in the development industry,” Ms Lambert said.

Our DAs are quite evenly spread across our entire City, and cover all development types.”

Lake Macquarie Mayor Kay Fraser said Council would continue to nurture progressive partnerships with organisations that shared its vision for the future.



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