A DEVELOPER will be given first dibs at the 21 remaining lots of land for sale in the Reeves Estate.
Council has endorsed a recommendation to give developers Real Gold Pty Ltd call options on the land for a period of 120 days.
In emotional scenes in council, a resident of the estate stormed from the chambers in tears after the recommendation had passed.
The woman tearfully tried to interject after council passed the recommendation with a vote of six for to one against (Cr Aled Hoggett voted against the recommendation) but was shut down by mayor John Rosenbaum.
“It’s disgusting,” the woman said of council’s decision as she walked out.
“You didn’t spend half a million dollars to live there.”
The rapid development of 10 new homes in the estate, with another 17 awaiting development approval from council, has angered those residents who purchased blocks before the arrival of Real Gold.
Real Gold has sold all 27 homes to interstate owners for a combined $10 million. All of the homes are likely to be put on the rental market.
Council stands to benefit significantly from the purchase of the lots by Real Gold.
If all remaining lots are taken up by the developer, council stands to make in the vicinity of $2 million profit from the sale of the land with an estimated $42,000 in rates income annually.