Plan for Cheetham Salt land to be transformed into prime waterfront space by Sanctuary Living and Ridley Corporation

An artist’s impression of Nelson Cove, which has beren proposed for the dormant Cheetham Salt land near Moolap. Source: Supplied

The dormant Cheetham Salt land near Moolap will be transformed into a bustling business, residential and entertainment centre under the vision by Sanctuary Living and Ridley Corporation.

Even if planning approvals are obtained promptly, they expect the Nelson Cove development will take at least 20 years to gradually realise, but have released plans to the Geelong Advertiser to see what the public thinks.

SURVEY: WHAT DO YOU THINK OF THE PLAN?

The plan includes a light rail link. Source: Supplied

Cashed up after the success of the Sanctuary Lakes development near Point Cook, several wealthy investors will bankroll the project through a private equity trust.

Their plan, said to be worth up to $4 billion to the Geelong economy, includes:

A PREMIUM canal-style housing estate with personal boat berths and a 3km public beach;

A CONVENTIONAL inland housing estate;

A PROPOSED light-rail line to link the precinct to the Geelong CBD and train station;

A BUSINESS and research park with apartments, shops, restaurants, a public marina and a sports training centre; and,

AN entertainment hub near the Alcoa site at Point Henry with shopping centre, luxury yacht marina, hotels and a public golf course amid bayside wetlands.

The plan inlcudes a rail link (red line). Source: Supplied

In total, the complex would create 5000 homes — 2800 on traditional housing lots, 1500 in medium-density apartment living and 700 on the waterfront — and sustain thousands of jobs.

Almost 500ha on which the project is proposed is a mix of private and leased Crown land, and has long been closed to the public. The developers are keen to negotiate with the State Government about how to permanently aquire the Crown Land for the project, and say they can prevent flooding at the site by building a concealed sea wall and shipping in soil to elevate the property to 1.2m above sea level.

Ridley Corporation has owned and leased the land since 1992 when it bought the Cheetham Salt business, and kept possession of the property after selling that business last year. Its first plans for the site were revealed publicly in September 2012.

Earlier this year, Ridley confirmed it’s partnership with Sanctuary Living — developer of the Sanctuary Lakes, Sandhurst Club and new Geelong Golf Club estates.

Sanctuary executive chairman Stephen Head said the firms wanted to change the face of Geelong.

An artist’s impression of the entertainment hub. Source: Supplied

“We say this will be a game-changer for Geelong,” he said.

“I think of Geelong as a sleeping giant. Where else can you find magnificent beaches, first rate education facilities, top class medical facilities and a site like this on the doorstep of the CBD waiting to be developed?

“It has all the attributes to be an international city, but it’s heart needs some stimulus ... and if you can awaken that you could attract new businesses and people from all over Australia and rejuvenate the whole region.”

Sanctuary has secretly briefed Geelong leaders on its plans in recent weeks.

, and is buouyed by the response. However, Mr Head acknowledged the long road ahead.

“These investors are used to these sorts of projects and they understand it’s a long-term investment,” he said.

“We’ve had the experience over the past 20 years and had experiences with environmental issues (at Sanctuary Lakes) which are almost identical. All we can do is stand on our record.

Waterfront-style living which has been proposed for Moolap. Source: Supplied

“The government approval process could take two years if it is fast-tracked, but it could take five or six years. What we are saying is ‘if the community wants this to happen we’ve got to find a way, without cutting corners, of doing it in a timely fashion’.

“We want to community to embrace our plan, and we encourage them to take a close look at what we’re proposing.”

Local real estate agent Bob Gartland said the plan was corageous.

“It will change Geelong, not just ineconomic terms, but also in the physical way the city relates to the bay,” he said.

“When Geelong was established all the industries were set on the water’s edge ... now the push is for waterfront living.

“I understand some people will think this is an ambitious plan, but I see it as certainly acieveable and do-able and it shows great vision. You have to remember it will be done incrementally, it won’t just pop up over night.”

Further details from the developers about the Nelson Cove project will go online today at www.nelsoncove.com.au

WHAT do you think of the plan? Tell us in this survey.