Two new projects are set to see a Costco store and 500 new dwellings call Lake Macquarie home.
It comes as the NSW Government announced that Costco Wholesale Australia and Green Capital Group would be a part of the transformation of the Cockle Creek precinct.
Minister for Water, Property and Housing Melinda Pavey said these projects will inject approximately $300 million into the local economy and create hundreds of jobs.
“The fact that Costco is choosing Cockle Creek as the location for its first regional operation in NSW is a major coup and that allows for hundreds of new jobs and ongoing economic stimulus,” she said.
“The Green Capital residential development will also deliver much needed new homes, creating more than 500 new dwellings as part of a multi-staged development, and contributing approximately 400 FTE jobs during construction.”
Lake Macquarie MP Greg Piper welcomed the announcement and said it could not have come at a better time for the region.
“It’s almost 20 years since the Pasminco smelter was closed, and after years of site remediation, years of stalemate and years of perseverance by a number of people and organisations, we are finally seeing this area moving ahead,” Mr Piper said.
“Pending council approvals, we could see Costco opening its doors here by Christmas next year, and I know that will be very big news to a lot of local people, but these developments will also help drive further investment in the local area and bring more jobs, more people and more investment to the area at a time when we really need them.”
Lake Macquarie Mayor Kay Fraser echoed Mr Piper’s thoughts.
“I’m thrilled to see the development application from Costco,” she said.
“Their commitment shows the confidence in our City and demonstrates what we can achieve when we work closely with the private sector to create new investment opportunities.”
Costco Wholesale Australia Country Manager, Patrick Noone, said he was keen to open the doors as soon as possible.
“We are delighted to announce that Costco Wholesale will have its first NSW regional warehouse in Lake Macquarie,” he said.
“Costco sees this region as dynamic and fast-growing and we believe that we can bring great value in relation to a wide range of products and services to the area.”