CONSTRUCTION will begin on the long-awaited Riverside development at Tea Gardens by mid 2015, according to new development manager John Dunning.
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The $73 million Riverside project took ten years to gain approval, with the company behind it, Crighton Properties, going into receivership last year.
The 276-hectare parcel of land opposite Myall Quays Estate has since been sold to The Sheargold Group.
The land has received concept approval through the State Government Part 3A process for 850 residential lots plus an eco-tourism site and includes two commercial sites on Myall Quays Boulevard.
The Sheargold Group’s vision for Riverside is to ‘‘produce and maintain the high standard of development established in Myall Quays’’.
‘‘There are a number of conditions to the part 3A approval that need to be resolved with the Great Lakes Council and various state agencies before development can start,’’ Mr Dunning explained.
‘‘The Sheargold Group is in the process of reviewing the current approval and has begun consulting with the council and the appropriate agencies.’’
Mr Dunning said he envisaged the first development application to produce future home sites to be lodged during the latter half of 2014 with construction starting in mid-2015.
‘‘It is anticipated that the first lots will be marketed late 2015,’’ he said.
He expected that the first approval would see about 150 homes built on the site.
The Sheargold Group managing director Michael Sheargold said the company was determined to build upon the many years of hard work by Crighton Properties.
‘‘We aim to successfully deliver a development that both respects the beautiful natural environment of Tea Gardens as well as providing opportunities for growth and new services,’’ he said.
‘‘We are looking forward to establishing a successful working relationship with the existing Tea Gardens Hawks Nest communities and Great Lakes Council along with the various local businesses and interest groups,’’ Mr Sheargold said.
The Sheargold Group is a privately owned property development organisation with a history of projects in the residential, industrial and commercial sectors.
Development manager of the group, John Dunning, has a property in Myall Quays Estate where he plans to live from May this year.
Anyone with questions for Mr Dunning is invited to contact him at his office on 9939 7566.
He expects the entire Riverside project should take 10 to 15 years.
