PORT Stephens Council is moving forward with plans for a 33-lot subdivision on land at Salamander Bay, with a view to selling the allotments.
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The council site at 3 Tarrant Road was approved for subdivision on a four-and-a-half-hectare site in the northern section in April 2010.
The council's acting property services manager, Brett Field, said the timing has not been ideal for residential development until now.
"The residential market has improved and should continue to improve over the medium to long-term," he said.
The proposed development went before Port Stephens Council in a confidential session at the October 14 meeting.
Councillors voted to go ahead with the 33-lot residential subdivision, with tenders to be called for the construction of roads, sewer, water, drainage and electricity among other planned works. Once complete, the council plans to sell the allotments piecemeal.
The council has not released any projected earnings for the site. Median house prices for Salamander Bay sit at $430,000, according to Australian Property Monitors.