Developer's plan opens to public
BILLIONAIRE property developer Bob Ell's company, Leda, has lodged formal applications with the NSW Government for Tweed's biggest yet residential developments -- Cobaki Lakes on the Queensland border and Kings Forest inland of Casuarina Beach.
The company is now preparing to go public with details of the massive projects which together will provide nearly 10,000 new homes, potentially increasing the Tweed's population by more than a third.
The NSW Department of Planning is set to advertise the development applications and place the proposals on public exhibition from tomorrow, December 17, until February 16. Objections must be lodged with the department by February 16.
The Cobaki Lakes Estate on Piggabeen Road covers nearly 600ha and is to include a town centre and shops, 5500 homes, two schools and 267ha of open space, lakes and environmental protection areas.
The Kings Forest estate would include a town centre and shops, 7ha business park, 4500 homes, three schools, 28ha of public open space, 336ha of environmental protection areas and an 18-hole golf course.
"Together they will yield in the order of 10,000 residential tenements in a wide product range addressing diverse market segments," said Leda's regional manager for residential development Reg van Rij.
"Together they constitute some 70 per cent of the land --presently zoned for urban -- expansion within Tweed Shire.
"This has particular relevance in light of the critical land shortage within the broader Gold Coast and Northern New South Wales region.
"Importantly, the projects will make substantial investment in the remediation and protection of their natural environments. "The employment and other economic benefits to the local community and the financial contributions to the local council that will flow from these %projects will be enormous."
Mr van Rij said construction costs alone would average about $200 million per year or about $3 billion over 15 years.
Developer contributions to Tweed Shire Council would average $15 million per year.