Bypass paves way for town
By ED SOUTHORN
THE Tugun Bypass 'green light' could mean construction work on the $1.5 billion Cobaki Lakes new town will start before the end of this year.
Leda Holdings spokesman Reg van Rij yesterday said the development company, which also owns the Kings Forest township site on the Tweed Coast, had been waiting more than ten years for the bypass approval.
"Potentially, it allows us to commence the (Cobaki Lakes) development," Mr van Rij said.
More than 4000 houses and units, with schools, shopping centres and open space, are planned for about 500 hectares at Cobaki Lakes, with a forecast population of more than 10,000 people.
But there are still two outstanding issues to be resolved before Cobaki Lakes can go ahead, Mr van Rij said.
He said negotiations with Tweed Shire on changes to substantial infrastructure charges payable by Leda as a result of the bypass route finalisation, and negotiations with the Queensland Main Roads Department for a traffic interchange at Boyd Street, both needed to be sorted out.
Mr van Rij said he was hopeful the infrastructure charges and interchange issues would be dealt with in about six months, allowing site works to begin before the end of the year.
He said the first houses at Cobaki Lakes could go on the market in late 2008.
A planned Cobaki Parkway local road would ultimately connect with Bilambil Heights, easing Kennedy Drive traffic congestion and assisting viability of the Terranora golf course planned redevelopment in the longer term, Mr van Rij said.
He also said a train station was planned alongside the Boyd Street overpass and interchange site.