Minister approves Tesrol plans

The Minister for Planning Mr Tony Kelly has approved plans for a seven-storey residential and commercial development at Ettalong.

The two stage development will also include parking and a new public thoroughfare from the Rocks Arcade to the Esplanade and forecourt areas.

The Tesrol development will be situated at the corner of The Esplanade and Memorial Ave, where a waterslide once stood.

Peninsula Chamber of Commerce president Mr Matthew Wales said the residential and commercial development was vital for the long-term success of the Ettalong town centre which was clearly recognised by the NSW State Government.

"The Business Chamber is delighted with the decision by the Minister," said Mr Wales.

"It has literally taken years for this development to be approved so the Chamber is naturally relieved with the decision to allow Tesrol to proceed," he said.

According to Mr Wales, Gosford Council was divided on the issue, leaving the developer with little choice other than to lodge the development application under the provisions of Part 3A and to seek the Minister's support.

The Ettalong Beach Business Group was also pleased with the news of the development, stating they would be working closely with Tesrol to ensure that the character of Ettalong will be maintained.

"The proposed development is exciting in its potential to offer increased economic opportunity for the Ettalong Beach community by creating employment, increasing tourists and visitors to the village," said Ettalong Beach Business Group president Ms Jeanette Polley.

According to Mr Wales the proposed development, of 60 residential units and 1384sqm of ground floor retail space, would create 200 construction jobs and over 30 full time jobs once completed.

"This project is vital for the future revitalisation of Ettalong Beach and the activation of foreshore precinct along The Esplanade," he said.

"With the imminent allocation of the promised $2 million of Federal funding for the ongoing upgrading of the Ettalong beachfront, the Tesrol development has the potential to create a unique tourist precinct that will complement the Mantra Resort and provide a substantial economic boost for the struggling Ettalong Beach commercial centre.

"The big question now is whether the market currently exists for the proposed residential product at a time when credit is tight and real estate is only just recovering from the Global Financial Crisis.

"It could be 12 months before any significant activity starts on the site.

"However, we understand that the developer is keen to move the project along and will be advancing with the required Construction Certificate approvals ready for work to commence once they are satisfied with the market conditions," said Mr Wales.

Email, 23 Dec 2010 Jeanette Polley Email, 5 Jan 2011 Matthew Wales