A MASSIVE subdivision planned at Solway in south Masterton will be one of the largest seen in the town for more than a decade.
It has been lodged with the Masterton District Council for planning approval and is subject to public submission, currently being advertised.
Submissions close March 30.
More than 15ha of farmland, already zoned residential, bordering Solway Crescent, South Belt, Hood aerodrome and the Waingawa River, is to be subdivided into 117 sections.
To access the new houses, three new roads will be constructed.
The proximity of the aerodrome mean buildings will be restricted to 10m in height.
The council has already approved the first 10 lots off South Belt with the remaining to be developed over six stages, expected to take around 10 years.
Masterton surveyors Tomlinson and Carruthers have prepared the proposal. John Carruthers says the new subdivision reflects buoyancy in land prices making it worthwhile financially for would-be developers.
But he's quick to add that the formula of costs for land developers usually means there's little money to be made until the last 10 sections are sold.
"Costs of roading and services usually makes it a fine line financially," he said.
Mr Carruthers said he knew of several developments which have been "sat on" for many years and are only now showing profitablility as land prices rise.
The Solway subdivision continues a trend in Masterton. In the past three years other urban subdivisions have included Sussex Street (32 lots), William Donald Drive(24 lots), Styleline Homes off Dixon Street (32 lots), Daniel and Ferguson Streets (14lots) and Betts Ave/Harley Street (10 lots).
The people behind the Solway subdivision are Wick and Estelle Gimson, farmers at "Cross Keys", Otahome, between Castlepoint and Riversdale. They have registered themselves as Solway Property Development Ltd.
Huge subdivision planned
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