Legacy Property enters into an agreement for development site in the Illawarra
Legacy Property is excited to announce that it has entered into a development agreement with the Illawarra Coke Company (ICC) for its Corrimal Coke Works site located in Wollongong, in the Illawarra region just south of Sydney.
The Corrimal Coke Works site, which is adjacent to Corrimal train station closed in 2014 after more than 100 years of metallurgical coke production.
Wollongong City Council has endorsed a planning proposal to rezone the 18-hectare site and allow for the development of a new high quality, transit-oriented residential precinct. The NSW Department of Planning & Environment has recently issued a gateway determination to allow for rezoning to proceed.
The planning proposal will rezone the site to permit a mix of medium density townhouses and apartments and provide for around seven hectares, or 39 percent of the site, to be dedicated to green space for public recreation, conservation and flood mitigation.
Mike Williams, Head of Strategy & Acquisitions at Legacy Property said the vision for the former Corrimal Coke Works is for the site become the most desirable new residential precinct in the Illawarra.
“The site will feature a diverse mix of housing opportunities, high quality open spaces that ensure the sites heritage shapes the character of the new precinct.
“The Corrimal Coke Works property represents a rare opportunity to contribute to the ongoing revitalisation of Corrimal, delivering a range of benefits for the local community, including new pedestrian and cycle paths, open space and environmental rehabilitation.”
Once rezoning is complete, Legacy Property will be responsible for construction and delivery of the new residential precinct.
For further information on the Corrimal Coke Works property go to: www.corrimalcokeworks.com.au