A $116 million residential subdivision at Cameron Park has topped this year’s most costly Development Approval (DA) list.
The 858-lot subdivision on the fringes of both Newcastle and Lake Macquarie LGAs is being managed by Sydney-based Winten Property Group and sits within Minmi and Cameron Park borders.
Stage five of the Cameron Park development has become Lake Macquarie’s single-most valuable approved DA for the 2023/24 financial year.
It was given the green light by the Regional Planning Panel in December 2023.
It’s just one of the multi-million-dollar developments that make up Lake Macquarie’s $1.2 billion 2023-24 approval list and takes the city’s DA total to $7 billion in the past five years.
A high-rise residential tower at Charlestown with a DA approval of $13.6 million, residential unit blocks in Edgeworth valued at $25 million and a commercial/residential development in Toronto valued at $36.6 million were atop the 17 DA or DA modifications.
In terms of suburbs, Edgeworth sits second on the list in 2023-2024, with approved DAs worth $72 million, Charlestown was third ($55.5 million) and Cooranbong and Morisset round out the top five.
Lake Macquarie City Council averaged just 18 days to process 2000-plus development applications and DA modifications approved in the past 12 months.
Council’s director development planning and regulation David Antcliff said the figures reflected continued growth and investment confidence in the region.
“It’s not just the overall value of these DAs that is encouraging to support the city’s growth – it’s their diversity,” he said.
“We’re handling applications for everything from medium-density infill developments in centrally located suburbs like Mount Hutton and Edgeworth to shopping centre upgrades, entertainment facilities and commercial premises.”
“It’s a demonstration of our city and the wider Hunter Region’s growth and our ongoing push to address Australia’s housing crisis.”
Despite strong demand for development across Lake Macquarie in the past 12 months, the number of DAs and DA modifications approved dipped to its lowest level in five years.
Mr Antcliff said that reflected a nationwide trend, with higher interest rates and soaring inflation eroding overall confidence.
“We are very keen to grow this city with suitable, sustainable development, and we are eager to assess applications as they are submitted,” he said.
Lake Macquarie City mayor Kay Fraser said expansion of the North West Catalyst Area, combined with the NSW Government’s push to increase housing density around train stations and other key infrastructure, meant further high-value development in Lake Macquarie was on the horizon.
“The challenge is always to balance the need for growth with the desire to retain the amenity and enviable lifestyle we enjoy here in Lake Mac,” she said.
“I’m confident we have the appropriate checks and balances in place to help strike that balance and ensure our city remains a place where people want to live, work, play, invest and visit for many years to come.”
Top 10 suburbs – approved DAs in 2023-2024
Cameron Park $124.8m
Edgeworth $72m
Charlestown $55.5m
Cooranbong $52.7m
Toronto $48.8m
Speers Point $29.5m
Morisset $34.8m
Warners Bay $19.4m
Redhead $18.7m
Mt Hutton $18.2m
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