The proposed residential development at the Corrimal Coke Works could have a multimillion-dollar economic impact.
Economic modelling undertaken by Sydney-based company Urbanised on behalf of co-developer Legacy Property suggested the impact of the proposal could be as much as $30 million each year.
"The local economic impact from just the consumption of a new community in Corrimal is significant," the report stated.
The modelling seen by the Mercury also claims it will result in $87.4 million in total annual local output for the Wollongong economy and will support 145 direct jobs.
"The economic outcomes that are predicted for the new community on the Corrimal Coke Works site have been based on ABS data applied to the proposal and they indicate a strong opportunity for the suburb to thrive in coming years," said Stephen Albin from Urbanised.
"The positive impact that is generated by additional families and businesses setting up home in the suburb is shared by the whole of Corrimal including established businesses, sporting clubs, schools and community organisations."
The 18-hectare site is envisaged to include more than 500 residences and nine hectares of parkland.
Before the housing can be built, the site needed to be rezoned from heavy industrial.
The proposed rezoning has now been put out for public exhibition.
The development has some opposition within the community, including over the number of residences and the fact there is only one entry point for residents.
Also of concern is the proximity of parts of the proposed development to the resident grey-headed flying fox camp.
There is a 100-metre buffer zone between the closest parts of the development and the flying fox camp.
Meanwhile, due to the COVID lockdown delaying the opening of the Corrimal Coke Works Community Information Centre, an online version has been launched.
The site, which includes information about the proposed residential development, can be visited at corrimalcokeworks.com.au.
"COVID-19 health restrictions mean we cannot open our community information centre in the Corrimal shopping centre but we know people have questions and are confused by some of the information which is being widely shared," said Ilawarra Coke Company director Kate Strahorn.
"This is our way of giving people the opportunity to learn more about the proposed redevelopment in their own time and, when they're ready, to ask questions or provide feedback to us directly."