Today, there's no buildings on Currungoba Point at Berkeley on the shores of Lake Illawarra.
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But at one time, there was talk of turning it into a tourist mecca, complete with a casino and marina on an artificial island.
It was all part of an audacious $50 million plan by Sydney bookmaker Bill Waterhouse.
That was a lot of money then, and it's a lot now - the equivalent of more than $400 million in fact.
Mr Waterhouse released his vision for the Lake Illawarra foreshore site in December 1974.
As well as the casino and marina, there would be a 400-bed hotel, restaurants, convention centre, nine-hole golf course, a zoo - all with a monorail running through it.
Yes, it was a very ambitious plan indeed.
"You must give the people what they want. I have been overseas and I know what the tourist wants," Mr Waterhouse said, perhaps a tad arrogantly.
In a report Mr Waterhouse commissioned for his "holiday playground", the city was criticised for not doing enough to attract tourists.
"Existing tourist facilities have not maximised to full advantage the area's physical beauty," the report claimed.
It saw the region as a "first-class opportunity for development as a tourist resort complex on a scale and to a standard well above that achieved by other Australian tourist developments".
But there was a very big problem with the site Mr Waterhouse chose - it tended to flood.
A Mr N Robinson of the Illawarra Natural History Society had photos of the casino complex site underwater.
"The photographs show the whole flat area under a sheet of water," Mr Robinson said.
"The area where they are planning all this development in my memory had flooded at least half a dozen times ... about three times in the last 12-13 years."
There was also the problem that the land would need to be rezoned before Mr Waterhouse could get anything done.
In the end, Mr Waterhouse's dream never got off the ground with Wollongong City Council knocking it on the head due to those flooding concerns.
"Aside from the nature of the development and any controversy surrounding it, the area proposed is unsuitable," council alderman Ted Tobin said.
In a footnote, the following year council also knocked back a proposed three-day festival on the site that would have seen The Rolling Stones playing for what would have been the only time in the Illawarra.
Again, it was the problem of flooding that contributed to the council saying no.