The Monarch Investments Group has started construction on its $150 million The Meadows at Bardia masterplanned project located in Sydney’s South West growth corridor.
Monarch has enlisted TRN to undertake the civil works while Zac Homes has been selected to build The Meadows' stage one houses.
Monarch CEO Peter Icklow said The Meadows has been strategically located about one kilometre from Edmondson Park Train Station and the billion dollar Edmondson Park Town Centre.
"The South West is currently experiencing rapid growth," he said.
Such growth has come as a result of a Western Sydney City Deal that recently took place between the NSW government and Commonwealth. The deal is expected to significantly benefit the region, with the construction of the airport generating $1.9 billion for the local economy and a further $400 million across the rest of Sydney.
Monarch CEO Peter IcklowMore than 100,000 jobs are expected to generate within the South West region.
"Every week there are new houses being built, infrastructure works starting, warehouse facilities securing multi-national businesses and new community facilities opening. The Meadows is located in the middle of this activity," Mr Icklow said.
“We purchased our first parcel of land in the South West’s Liverpool and Fairfield areas in the early seventies as we could see the potential in the area.
"The population was growing and it was moving in this direction. It was a logical place to develop.
"Since that time Monarch has continued to purchase well located sites and provide housing for thousands of people," he said.
Monarch's early developments tended to attract parents who were seeking to upsize, but trends have shifted and sales in The Meadows have primarily gone to to first home buyers.
In many cases we are selling to the children of parents who purchased with us a decade or two ago," Mr Icklow said.
"The children have grown up in the area and would like to stay in it. Many are also moving from apartment living in inner city areas to duplexes in The Meadows. The prices are more affordable.”
Two hundred and ten houses will be built in The Meadows which is situated in the suburb of Bardia at the junction of the M7 and M5.
The Meadows is located directly beside Monarch’s Ingleburn Gardens Estate and across the road from the company’s first major development in the area, Macquarie Links Estate.
Sydney’s CBD is an approximate 40 minute drive and the proposed Badgery’s Creek Airport will be located within a 20 minute commute.
Prices start from $624,950 to $749,997 (average $670,000) for a three bed duplex and range in lot size from 230 square metres to 390 square metres.