$1.24bn worth of development approved in Lake Mac

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.

Cameron Park Woolworths shopping centre

“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.

Lake Macquarie Private Hospital artist impression

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.

Toronto Brighton Ave apartment development

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.”

Morisset Toshiba development

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

“Our strategy is to drive and manage the right kind of growth,” Cr Fraser said.

“The Lake Macquarie community values our natural environment, liveability and idyllic location, and with the right approach and ongoing community consultation, we can

grow and become an even more attractive place to live.”

Total DAs and DA modifications

Financial yearTotal approvedEstimated value
2017/2018  
DA2017$757,706,290
Amended DAs441$404,587,824
 2458$1,162,294,114
2018/2019  
DA1852$677,816,532
Amended DAs437$560,061,509
 2289$1,237,878,041
   
Two-year total4747$2,400,172,155

Top 10 DAs approved (dollar value)

PositionSuburbValueDescription
1Wakefield$77mMotorsport complex
2Cameron Park$26.1mShopping centre
3Cameron Park$24.2mAged care facility
4Gateshead$14.4mAged care facility
5Toronto$14.3mApartments/mixed use development
6Cooranbong$12mAged care facility
7Bennetts Green$10.1mBulky goods retail complex
8Teralba$8mAsphalt plant
9Redhead$7.5mManufactured housing estate (140 dwellings)
10Charlestown$7.2mResidential subdivision (25 dwellings)

Top 10 suburbs (approved new and modified DA dollar value)

Suburb2018/2019
CAMERON PARK$144,217,978
MORISSET PARK$123,067,724
TORONTO$77,424,158
WINDALE$77,002,736
WAKEFIELD$77,000,000
CHARLESTOWN$59,425,911
GLENDALE$56,924,569
MOUNT HUTTON$44,609,719
CATHERINE HILL BAY$39,280,774
TERALBA$37,230,757