Landcom’s Riverstone project has reached an historic milestone with the first of 100 developed lots of the former ‘paper subdivision’ sold to purchasers.
Landcom CEO John Brogden said work to unlock the constrained land and realise the development potential of the land had been ongoing for almost 20 years.
“This land at Riverstone had been 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 this essential infrastructure so we can ensure the necessary urban services are provided in this growing part of Sydney’s north-west.”
The Riverstone project includes the subdivision and sale of a total of 300 new lots with potential for around 360 homes.
First Home Buyer Chandini Suresh is a recent purchaser of Landcom’s land at Riverstone and is looking forward to making her dream of owning her first home a reality.
“I’m so excited about the plot of land at Riverstone that I can call my own and I can’t wait to get started on building my dream home!
“Riverstone is such a great north-west location and the work that Landcom has done to prepare the area for a home development like mine has been fantastic,” Ms Suresh said.
Landcom has programmed a second sales release in March 2020, while some of the newly released Riverstone lots are being marketed directly by landowners.
Early investigations to determine the feasibility of potential future development at Riverstone have also commenced.
Read more about affordable easy-to-build lots in Riverstone.