Lake Macquarie’s quiet boom | Newcastle Herald
LAKE Macquarie is being transformed at a rate not seen for generations, with a construction frenzy spilling over from Newcastle and pushing Warners Bay and Charlestown skywards. The Lake Macquarie council area, which includes a swath of greater Newcastle suburbs and townships such as Morisset, Cooranbong and Swansea, had about 2,700 development applications worth $607 million approved in the last financial year . That is 550 more than the previous year, and an increase of 23.5 per cent. About $250 million worth of construction is underway and, while not on the scale of Newcastle’s $900 million transformation, the Lake figure is mainly private investment unswollen by major public works like the Newcastle light rail . There is also more than $300 million worth of development in the pipeline. Among the projects attracting buyers’ interest are the $80 million Water’s Edge apartments proposed for the Esplanade at Warners Bay. If approved, Water’s Edge will take the site of a former ...