First home buyers, downsizers and investors are expected to be the key demographics interested in a series of terrace homes in Dapto.
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Wollongong City Council recently granted development consent for 15 two and three-bedroom dwellings on the corner of Fowlers Road and Lakelands Drive in Dapto.
The terrace-style dwellings are being developed by the Illawarra-based Fountaindale Group.
The new development, marketed under the name Cooloola, will be offered for sale off the plan in March, with construction expected to commence mid-year.
“We are expecting strong interest from first home buyers, downsizers and investors,” Jennifer Macquarie, director of The Fountaindale Group said.
“We haven’t finalised the price list yet, but the intent is to keep the homes relatively affordable in context of the Dapto market which has seen rapid price growth in recent years.”
Fountaindale is now beginning to talk to building contractors about constructing the dwellings, and said their preference is to engage with a local firm.
“This project has a total development cost of over $4 million and we would like to keep as much of that in the Illawarra as possible,” Ms Macquarie said.
“I encourage local building and landscaping contractors to give me a call if they are interested and have experience in this scale of residential project.”
According to a Wollongong City Council report, the site is an irregular shaped corner allotment with frontages to Lakelands Drive and Fowlers Road.
“The land falls from south-east to north-west and adjoins a creek along the western boundary,” the report said.
“There are various concrete areas and retaining walls scattered on the land which are remnant parts of a service station previously located on the site.
“The surrounding development is characterised by low density residential development, predominately with single storey dwellings.”
The council report noted that the proposal was non-compliant with regard to the minimum side setback, location of private open space and car parking controls contained within Wollongong DCP 2009.
“Appropriate variation statements have been provided and are considered acceptable,” the report said.
Brendan Crabb
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
