Kings Forest linked to economic boost for the Tweed
AN ECONOMIC boom is projected for the Tweed after the approval of Leda Development's Kings Forest project.
Leda Developments Reg van Rij said the 880ha site between Kingscliff and Cabarita would inject $5 million annually into Tweed Shire Council and $96 million into Tweed's water and sewage infrastructure.
He also said the project is expected to create 6000 jobs.
Kings Forest, which has been in Leda's hands for 10 years and previous developers for 15, will include a $30 million upgrade to Tweed Coast Rd and a new intersection.
The first 500 plots of the 4500 home project were given the green light by the state government on Tuesday.
Mr van Rij said it was expected the first blocks wouldn't be on the market until late 2014.
He said there were a number of different blocks available but couldn't name a specific price.
"Blocks could start from anywhere near $200,000 and up," he said.
Although unable to reveal everything at this stage Mr van Rij said affordable small blocks would be on offer for people who wanted a unit without the body corporate fees.
"It's a very interesting product concept and I have absolutely no doubt it will see interest from single person households, first home buyers, empty nesters and retirees," he said.
"There are not many places you can get a country setting close to the sea."
The Tweed manager said Kings Forest would attract families mostly due to the two primary schools and large outdoor spaces planned, but it would also be a great spot for retirees with a retirement home in the plans.
"It's a unique setting, but it may not be everyone's cup of tea," he said.
Leda Development expects people from the Gold Coast and Brisbane to be attracted to Kings Forest but the company also expects people from Melbourne and Sydney to consider the move.
"Especially empty nesters," Mr van Rij said.
The development has had its fair share of hurdles including concerned residents and some Tweed Shire Council councillors pushing for a full dog ban to protect Tweed's koala population.
At the time, Mr van Rij said if the ban was approved it would have crippled the development.
In January the developers were fined $32,500 for clearing a narrow strip of land in Cudgen Nature Reserve in March 2011 after discovering the mistake and reporting themselves to the relevant authorities.
Did you know?
- Project cost $2.25b
- Leda will have spent $100m before the first block is available
- Council will see a rates boost of $5m a year