Risland Australia has moved ahead on its $1.5-billion masterplanned urban community in NSW’s next big housing growth corridor south-west of the Sydney CBD.
The house and land development, known as Wilton Greens, has now broken ground with civil contractor TRN Group beginning civil infrastructure and subdivision works for the first 263 land parcels between Picton Road and Janderra Lane.
Risland, formerly the Hong-Kong-based Country Garden Australia, is one of the first developers to head to the Wilton area, about 80km from Sydney.
The Wilton growth area combines six precincts, including Bingara Gorge.
Wilton Greens will eventually comprise 3600 land parcels across 433ha.
The project incluces two employment hubs, a local neighbourhood centre, seven large high-quality parks and playgrounds, several kilometres of cycle paths and 8.5ha of open spaces.
The development is Risland’s first masterplanned community in New South Wales, following a successful launch of its Windermere housing estate located in Victoria’s Mambourin four years ago.
“It has taken several years to reach this important milestone of construction starting at Wilton Greens,” Risland Australia NSW general manager Paul Irwin said.
“Years have been spent working with the Wollondilly Council and key stakeholders to deliver a self-contained neighbourhood that will eventually be home to more than 12,000 residents.”
More than 300 land parcels have already been sold, predominantly to young families and first-home buyers entering the greenfield housing market snapping up plots for between $239,000 and $372,500.
Masterplanned communities have remained a strong performer in the residential sector throughout the health crisis, boosted by government stimulus for new housing, low interest rates and changing housing preferences.
According to recent figures from the Urban Development Institute of Australia, more than 53,000 greenfield housing lots were sold during 2020, almost double the figure of 2019.
Sales in the second half, after the launch of HomeBuilder, were the highest since 2009.
Leading property groups have since brought forward releases to meet the demand and, at the half year, reported near-record sales in their master-planned communities.
At a neighbouring greenfield site in Wilton, state developer Landcom is outlaying $950m to prepare 5600 lots, 10 per cent of which will be offered as affordable.
It was revealed earlier this month that the developer paid $257.5m for the site, $100m more than a valuation made 12 months earlier.