After 20 years of planning and more than two years of construction, Landcom is celebrating the registration of the first subdivision of 100 new lots within the Riverstone Scheduled Lands.
Landcom CEO John Brogden said that the registration of the subdivision marks a major milestone in the history of the Riverstone Scheduled Lands which dates back to 1884.
“Landcom is thrilled that our 20 years of diligent planning and hard work on this project is now paying off, with the delivery of these affordable lots that are now registered and ready-to-build,” Mr Brogden said.
“This land at Riverstone was subdivided on paper back in the late 1800s but was never developed due to the land’s highly fragmented ownership and a lack of essential infrastructure such as streets, roads, electricity, water, sewerage and drainage.
“Landcom’s role on the Riverstone project has been to coordinate the subdivision and development of the land to facilitate the provision of essential infrastructure so we can ensure the necessary urban services are provided in this growing part of Sydney’s North West.”
The lots have been developed through the first application of the paper subdivisions process which was introduced in 2013 through amendments to the NSW Environmental Planning and Assessment Regulations.
Mr Brogden said Landcom was instrumental in driving legislative amendments to establish a process that facilitates the development of paper subdivisions with costs being paid by landowners.
“Landcom is very proud pf the fact that the registration of these first lots in Riverstone, with potential for around 120 new homes, is the first time the process has been implemented in NSW.
“Landcom has successfully demonstrated that by working closely with landowners and relevant authorities such as local councils, it is possible to plan and release complex, constrained and fragmented land to meet the needs of our growing community,” Mr Brogden said.
There are more than 10,000 paper subdivision lots across NSW, including in Blacktown, Lake Macquarie, Port Stephens, Wollongong, Wyong and Sutherland Shire Local Government Areas.
“The application of the paper subdivision process as demonstrated at Riverstone, gives hope to many landowners, including ‘mum and dad’ investors who purchased paper subdivision lots as an investment with a dream that one day the land could be developed, and Landcom couldn’t be prouder to help make that dream come true,” Mr Brogden said.
The lots are part of more than 1,900 lots that are owned by over 320 individual landowner groups in the Riverstone Scheduled Lands.
They have been traded over time and many have been passed down through generations but have remained largely undeveloped because of their irregular layout, fragmented ownership, and the lack of roads, power, water and other services.
Mr Brogden said Landcom was looking forward to delivering a further 200 lots in the Riverstone Scheduled Lands for the establishment of more new communities, in one of Sydney’s fastest-growing areas.
