The subdivision area is bordered by Sloane St, Burton St and Ochtertyre St in Deniliquin’s west.
Abandoned infrastructure on the land will be demolished, and a tree stand and water coarse flowing through part of the property to the nearby Edward River will be retained.
This section will be beautified to create a recreational area for the new development.
Four new roads will be constructed, including three Burton St entrances and a connecting road, will be constructed.
The staged development will release blocks as demand and input costs dictate over a number of years.
Six measuring 1020msup2, fronting Sloane St, have been released this week.
Each is $100,000, which includes all services and connections to Edward River Council standards.
Coming at the height of a real estate crisis not only in Deniliquin but across the country, Ray White Deniliquin real estate agent Lester Wheatley said the timing and location could not be better.
‘‘This is a three stage development of prime residential land, from Sloane St right through to Ochtertyre St.
‘‘There’s six blocks on Sloane St being made available now, and as the project moves along more from 1000msup2 up to 3300msup2 will be made available.
‘‘Prices will be negotiated at the start of each stage of the development.
‘‘These are large lots for bigger houses and lifestyle properties.
‘‘They are just 1km from the river, close to two boat ramps and not too far from the Riverview Estate and the Deniliquin Boat Club.
‘‘You’re also not too far from town, or local schools and other amenities.’’
Mr Wheatley has been among the local community leaders calling on the release of appropriate land for residential development over a number of years.
Provided uptake is as strong as forecasted, Mr Wheatley said this development should take the pressure off the local market.
Rental properties have been at almost zero capacity since at least 2013, and are in even shorter supply now that properties are being sold before they even hit the market.
Discussions with the Melbourne developers began at the start of the current wave, with the company approaching the local real estate agents about 18 months ago.
A significant amount of work and planning has gone in to the project since, with blocks in the initial release being slashed, surveyed and released this week.
‘‘We were approached by the company, as it was looking to expand into rural Australia,’’ Mr Wheatley said.
‘‘We raised this sub-development proposal with them, and now we’re at the exciting stage.
‘‘This is the biggest residential sub-division development ever to be undertaken in Deniliquin.
‘‘Until now, the largest was the Riverview Estate, which opened 30 years ago.
‘‘The blocks in this initial release are wide and deep, and perfectly situated between town and the river.
‘‘Local company Brian Mitsch and Associates has done all the preparatory work, and we’ll be using local companies for what’s to come next too.’’
Stage one of the development will see the release of 26 blocks in total, including the initial six fronting Sloane St.
The recreation area and one road will also be constructed in this stage.
Blocks in this stage start at just under 1000msup2 and go up to 1448msup2.
Another 16 blocks will be delivered in stage two, from Ochtertyre St back to the centre of the block.
It includes four huge blocks measuring 3300msup2.
None of the others in this section are under 1000msup2.
Another road off Burton St will be constructed in this stage.
The final 13 blocks will be developed in stage three, along with a new T-shaped road which will connect to the others built in stages one and two.
The blocks in this final stage measure between 1000msup2 and 2280msup2.
A full sub-division plan is available on page 17 today.
‘‘Early birds can get in touch now,’’ Mr Wheatley said.
‘‘Call myself or Sam Hall at the Ray White office, on 5881 1000.’’
