Multi-billion-dollar Box Hill housing developments attract many buyers

FIRST-time  home  buyers, investors and builders are among the new landowners in the massive $1.3 billion The Hills of Carmel development.

The Hills of Carmel is a 2,000 lot sub-division spread across 223 hectares in Box Hill.

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FIRST-time  home  buyers, investors and builders are among the new landowners in the massive $1.3 billion The Hills of Carmel development.

Builders have bought about one quarter of the more than 120 lots — paying more than $20 million — since the first release in mid-May, and the developers of the land once owned by Governor William Bligh in the 1800s, say demand is higher than anticipated.

The Hills of Carmel is a 2000 lot sub­division spread across 223ha in a newly rezoned area of Box Hill.

Debbie Redelman, Richard Scheinberg and Castle Hill MP Ray Williams at the launch of The Hills of Carmel. Picture: Peter Kelly

Development is now being handled by descendants of Albert Scheinberg, who bought the major part of the land in 1960.

Meanwhile, more than 500 lots have been sold at The Gables, a $4 billion master planned development also at Box Hill, according to its developer Celestino.

The Hills of Carmel’s property development consultant Bob Welsh expects the first homes will be ready for occupation by mid-2017.

The Hills of Carmel owner Richard Scheinberg.

“Sales are better than expected and we are monitoring the sales and expect more to come through,” Mr Welsh said. “We expect work to start on the first homes later this year with completion in early 2017.

“During our third stage, we plan to release around 189 lots and, depending on how fast the second stage goes, we will do that soon.”

Last weekend 180 blocks were released, including level, easy-building l blocks starting at $420,000 for 300sq m. Other lots included 375sq m, 450sq m and 550 sq m.

Once completed, The Hills of Carmel will feature a new shopping centre, playing fields, schools and large outdoor space and bicycle paths.

Celestino CEO John Vassallo with Castle Hill MP Ray Williams, Hills mayor Michelle Byrne and developers at The Gables site. Picture: Phil Rogers

Castle Hill state Liberal MP Ray Williams said the interest in The Hills of Carmel showed there was large demand in the area.

“Given the significant investment made by the NSW Government in this area, particularly the new Metro rail line, I’m thrilled to see the Hills of Carmel has been so well received and no doubt it will continue to grow,” Mr Williams said.

Meanwhile, more than 500 lots have been sold at The Gables since the $4 billion master planned development got off the ground, according to its developer Celestino.

“A huge percentage of buyers were owner-occupiers from the northwest,” Celestino’s Jason Keen said.

“We are currently offering good sized blocks with wide frontages adjacent to a neighbourhood park and the open space corridor with pathways that link into the future town centre. It doesn’t get any better than this.”

“Our buyers recognise that The Gables is in a great location, is value for money and will provide residents with the benefits of what a masterplanned community offers.”

The Hills of Carmel.

Fact box: The Hills of Carmel

What: $1.3 billion housing development to feature more than 2,000 dwellings, sports fields, schools, a shopping centre within 10 years

Area: 223ha bounded by Annangrove Rd (east), Boundary Rd (west), Old Pitt Town Rd (North) and Windsor Rd (south)

Named after: The former Mount Carmel orchard on the property.

Details:thehillsofcarmel.com.au/

The Gables project at Box Hill.

Fact Box The Gables

■ A $4 billion masterplanned project covering 330 ha.

■ It will feature more than 4000 dwellings and could be home to more than 13,000 people.

■ The Gables is bounded by Maguires Rd to the north, Old Pitt Town Rd to the south, Janpieter Rd to the east and Boundary Rd to the west

■ It will included a K-Year 6 primary school, sports fields, nine parks, community centre, road networks and intersections and 95 ha of active and passive open space

■ Details: thegablesboxhill.com.au