Cedar Woods has taken a step closer to boosting land supply for housing in the Pilbara, after being selected by LandCorp as the preferred proponent for a major residential sub-division.
The development group said today it had secured a fee-for service agreement with LandCorp for the Western Edge subdivision, following a competitive selection process.
Under the agreement, Cedar Woods will secure planning approvals for the first 600-lot phase of the Western Edge project, to be developed subject to feasibility and market demand.
The Western Edge development site comprises 226 hectares, which will be retained by the state government.
“While the residential property market in the Pilbara has moderated in recent times, there remains a long-term, sustained demand for housing in South Hedland driven by the state government’s Pilbara Cities and Royalties for Regions initiatives,” Cedar Woods state manager Stuart Duplock said.
“The permanent population of South Headland is growing at a healthy rate and demand for quality, modern, affordable housing from owner-occupiers remains strong.”
Planning approvals and structure planning are expected to take around 12 months, while a feasibility study will be undertaken before the development will proceed.
At 12:20PM, WST, Cedar Woods shares were down 0.36 per cent, at $5.46.
