A major development boom has taken over Lake Macquarie with over 2000 development applications receiving approval across the city in the past financial year.
The total value of DAs approved in 2017-2018 crossed $1 billion, creating a record for the city. The top five suburbs in terms of DA value were Cooranbong, Warners Bay, Charlestown, Cardiff and Catherine Hill Bay, while Awaba, Balcolyn and Redhead were among the suburbs to record the strongest year-on-year growth.
Council CEO Morven Cameron said the numbers reflected the growing demand to invest in Lake Macquarie with projects ranging from small-scale residential to large commercial developments.
The Council has now created a new Head of Development and Planning role, with commercial property and development executive Justin Day taking on the responsibilities.
The Council approved a total of 2021 DAs, and a further 436 amended DAs in the 2017-18 financial year. The single most valuable DA approved was Water’s Edge, a $44m mixed-use residential and commercial development at Warners Bay comprising of 110 units.
Lake Macquarie mayor, Kay Fraser, said that she expects this strong growth to continue over the next 12 months, particularly in the key North West Catalyst Area around Glendale and Boolaroo.
