BUILDING FOR THE FUTURE: Multi-million dollar investment
A MULTI-MILLION-dollar investment on Freestone Rd is slated to create more than 300 homes in Warwick.
The development application by Nick Christofis of Freestone Rd Developments Pty Ltd seeks to subdivide one lot on the corner of Freestone Rd and East St into 303 lots.
The company aims to create “a desirable residential environment” constructed over eight stages, according to the documents compiled by the Saunders Havill group.
The lots will be connected to the town’s reticulated water supply and sewerage system.
The Southern Downs Regional Council approved the application on February 4. Should the development proceed, the council stands to receive $10,000 in fees for each lot, totalling more than $3 million.
Southern Downs Mayor Tracy Dobie said it was a sign of confidence in the region’s ability to bounce back from drought.
“In the last few days we’ve learned it does still rain, and that’s really positive,” Cr Dobie said.
“But even during the grip of drought the number of development applications received by council remained high.
“Developers know that if they invest in the Southern Downs now that by the time they’ve prepared all of that land and start selling those properties a number of years will have passed.
“They’re building for the future.”
The development would fill a gap in the Warwick real estate market, Southern Downs Realty principal agent Brent Bowles said.
“Sometimes people want to upgrade and build, but at the moment there’s not a whole lot of land to choose from,” he said.
“I think it would help the market to have plenty of blocks for people to choose from.”
The mayor said she looked forward to the boost in housing opportunities for new residents.
“I was just meeting with some new residents and they were talking about all the great things the region still has to offer,” she said.
“This will encourage more people to come to our region and that’s incredibly positive.”
Mr Bowles said recent rains had lured in a large number of out-of-towners, more than doubling their sales in the past month alone.
“The market has certainly improved and confidence is coming back,” he said.
The investment comes as the council’s Shaping Southern Downs campaign enters its second year, with hopes of eventually growing the local population to 50,000.
The Daily News reached out to Mr Christofis for comment but did not receive a response in time for print.