The growth and potential of Taree has captured the attention of a Sydney development company, which has purchased a 78 hectare property at Kolodong to transform into a premium housing community.
The sale of Kirralee Park to Cameron Brae Properties settled on October 9 and representatives from the company were in Taree on October 19 to announce the acquisition.
In the next eight to 10 years, the area will be developed into a modern, sustainable 450 home urban community with new parks and playgrounds, walking trails, viewing platforms, all in close proximity to the Taree CBD, local schools, shops and community facilities.
The area was rezoned to residential by MidCoast Council late last year.
General manager development for Cameron Brae Properties, Stephen McMahon, said the next step will be to work with council and local residents in formulating a master plan.
That master plan and development application for the first stage of the estate is expected to be on display early next year.
Following council approval, home site sales will begin through Ray White Manning Valley in September/October 2021.
"We will be working closely with MidCoast Council and the local community to ensure that the master plan and development application for the site consider local conditions and offer high amenity, good connections and a quality lifestyle for new residents," Stephen said.
"Given the large size of the project we will be able to provide well designed housing lots, streetscapes and parks for families.
"We also appreciate that the scale of the project will offer a significant financial injection into Taree's economy and we will be preferencing local businesses and suppliers wherever we can.
"We envisage the construction timeframe of eight years will deliver new long term jobs to Taree and we also expect significant potential employment and expenditure economic multipliers as a result."
There will be a range of lot sizes, ranging from 450 to 600 square metres.
"But we will be meeting the market on that," said Stephen.
These are designed to suit locals seeking a premium upgrade, newcomers from out of town and tree-changers from Sydney.
"There's a big tree-change happening in New South Wales and there are new opportunities being created in Taree. We want to be part of that," he said.
Cameron Brae Properties is part of the Cameron Brae Group.
Its founding managing director, David Hazlett retains a long standing personal and business interest and passion for development and the family business has grown to encompass all aspects of property and land development across NSW with a focus on Western Sydney and regional NSW.
The company's current projects include the Emerald Hills Estate in Leppington, the proposed Wilton Town Centre, a number of new estates in the Shoalhaven and a forthcoming 2200 lot estate in Bringelly in Sydney's west.
They feel that this experience and appreciation of the nuances of regional development is something they can bring to Taree.
The vision for the development of the site is to embody elements that make Taree and the site an attractive and desirable place to live - memorable views, convenient access to parks, facilities and services and a welcoming country town character and values.
"Council is keen to get on with it," said Stephen.
"There's a land shortage in Taree."
He said the company does not underestimate the size of the project and they will be talking to a lot of people and are invested in the project in the long term.
"It's an eight to 10 year project... we've got to talk to a lot of people. We're not flying in and flying out."
Rob Chapman from Ray White Manning Valley and Greg Crisp from McGlashan and Crisp have been appointed as local consultants for the project.
The company was attracted to Taree for a number of reasons including the location, the pattern of growth in the area, the investment of council into the economic vibrancy of the community, the landscape views of the area to be developed, the coastal and rural lifestyle as well as the growth of the region. The size of the project was also an important consideration.
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