Costco Coming To The Hunter

After years of lying dormant and contaminated, the former Pasmico Smelter site at Cockle Creek is about to undergo a major transformation.

NSW Property Minister, Melinda Pavey has announced the state government has completed two land sales with American retail giant Costco and property developer, Green Capital Group.

It will see Costco build it's first store outside Sydney, while Green Capital will use its lot for a major residential development, providing 500 new homes for the region.

The Costco development would create around 80 construction jobs and up to 225 ongoing local jobs, while the Green Capital project is expected to create about 400 jobs during construction.

Lake Macquarie MP, Greg Piper says Costo is a great economic driver for any region.

"I'd imagine with Costco coming we will see other businesses wanting to come in and invest in the area."

"My understanding is Costco is ready to lodge their development application today, and they're very keen to get on with this development, looking at a 9-12 months construction period."

"So hopefully somewhere after half way through next year, we'll see Costco being able to trade in our local area."
 
Melinda Pavey says the projects will inject will inject around $300 million into the local economy.

Costco wants to set up its first store outside Sydney at Boolaroo. Picture: Costco

Pasminco Redevelopment

BY ALICE PEART

Following new legislation the state government has taken over the former Pasminco site at Boolaroo, with plans to fast-track it's redevelopment.

After accusations of mismanagement regarding the massive toxic waste containment cell on site, the government compulsorily acquired the land under the new legislation.

The site is now earmarked for residential and commercial development, which will reportedly result in two billion dollars net economic benefit for the Hunter.

Lake Macquarie mayor Kay Fraser says the economic opportunity for the region is exciting,

"This is part of our north-west catalyst area which is really important to Lake Macquarie, so this will have the potential to support thousands of homes, thousands of jobs, and will be the catalyst to reinvent that whole area up there".

While the site itself has been cleaned to bedrock for development purposes, residents throughout Lake Macquarie still face soil contamination from the former Smelter site and are liable themselves to pay for remediation, costing up to $100,000.

Jim Sullivan from the Boolaroo Action Group says the development will be a great asset to the whole city, but the government needs to use the sale to address ongoing contamination.

"If the government thinks that they're just going to sell all the land on the Pasminco site, and not repair people's properties that surround the smelter, they're going to have a fight on their hands".