When local politician Craig Knowles was NSW planning minister 21 years ago, he rejected plans to develop vacant land in Macquarie Links, opposite Governor’s Way.
The land is on the highest elevation of the prestige estate, and Knowles did not feel it was appropriate for housing, which would be visible from the busy Hume Highway to the west.
More than two decades later, the original developer of Macquarie Links, Monarch Investments, has talked the owners of the land, the community association, into a joint venture to develop what they have called “stage 5’’ of the estate.
A report to members of the executive committee and representatives from each of the stages of development states that Campbelltown Council “looked favourably on the proposal’’ when it was outlined to them by representatives of Monarch Investments.
The proposal – in principle at this stage – is for a joint venture between Monarch and the community, the owners of the land, whereby the profits are split 50-50.
According to the report for the latest community association meeting last Tuesday night, the sale of 25 residential lots would net a profit of close to $20 million.
This would mean $10 million to each party, but with the community also retaining the land not used for housing, and valued around $5 million.
Some of the community share of the money would be distributed to current owners in the estate, potentially ranging from around $10,000 each to $20,000.
One owner who has never been supportive of the plans since they were first revealed is former Mayor of Campbelltown Les Patterson, who lives in Governor’s Way, opposite the vacant land.
On Tuesday night he urged that the project should not proceed due to loss of open space and possible effect on bushland and walking trials and the native animals seen there on a regular basis.
In response it was noted that bushland and walking trails would not be disturbed and a playing field would be retained on a levelled area north of the current location.
The committee voted to support a motion to have the land valued independently, as well as engage lawyers to “review and advise on a potential joint venture between Community and Monarch to develop Stage 5’’.
In response to a call from Mr Patterson for other developers to be given the chance to tender for a joint venture, it was decided at Tuesday night’s meeting to look into it.
It was also decided to hold a special general meeting with electronic voting on whether to proceed with the proposed joint venture.
