Work on the first stage of a Black Hill industrial estate earmarked to create thousands of jobs will begin in 2022, the developers have announced.
Newcastle council approved Black Hill Industrial's plans for an initial three-lot subdivision and subsequent one into 62-lot subdivision earlier this week.
Black Hill Industrial is a joint venture company of Central Coast firm The Stevens Group and Hilton Grugeon's Hunter Land.
The huge subdivision, on what was previously Coal and Allied-owned land, won concept approval from the NSW Planning and Assessment Commission in 2013.
The now approved first stage of the project takes up about 30 per cent of the total developable land.
The capital investment value of the broader development site, including subdivision works and future buildings, was in 2013 estimated to be $725 million.
The direct employment places once fully operational was also put at 3600.
Equating for the size of stage one, its capital investment value is about $230 million in 2013 dollars and the subdivision should produce about 1300 employment opportunities.
Black Hill Industrial spokesman Brad Everett saidthe future estate would house a variety of light industrial businesses, particularly from the logistics sector.
"Now we've got DA consent our aim will be to get going in the first quarter of next year, both on the internal subdivision and external roadworks," he said.
"The total site accommodates up to 200 lots. Our first stage is for approximately 30 per cent of the site. There's significant pent-up demand and we're confident it will be taken up quickly.
"The other important element of this site, to gain the concept approval over 500 hectares of land was transferred to the government for conservation purposes."
The site is adjacent to an even larger proposed industrial estate covering two thirds of a 300-hectare site owned by the Catholic Diocese of Maitland-Newcastle.
The Diocese has entered into an agreement to sell the land, which is in the Cessnock council area, to Broaden Management when the company gains development approval for the site.
Together the sites are classified as an economic "catalyst area" in the NSW government's Greater Newcastle Metropolitan Plan 2036.
Business Hunter CEO Bob Hawes said the the Black Hill-Beresfield area was "ideally located for this form of investment and development" given its proximity to transport links and the workforce base of "nearby residential centres across Maitland, Lake Macquarie, Newcastle and Cessnock".
There is also a "spine of fibre that follows the M1" that can "accommodate data needs" of businesses as "activity moves online", he said, adding the estates would enable a "continuation and diversification in the sorts of businesses that will be interested" in establishing a preference in the area.
"The face of light industry has changed and will continue to change in the region. The influence of growing sectors like Defence manufacturing, Medtech and energy will underwrite a continued demand for employment lands," he said.
"The diversification ambitions of the Port of Newcastle and the Airport will reverberate across the local economy and that is going to support not only existing businesses but also shine a light for other business interested in coming to the region.
"It is also important the region maintains its reputation of affordability. Identifying and maintaining a supply of future industrial and employment lands means we lessen the risk of shortages and the price spikes ... that can constrain investment."
The face of light industry has changed and will continue to change in the region. The influence of growing sectors like Defence manufacturing, Medtech and energy will underwrite a continued demand for employment lands.Business Hunter CEO Bob Hawes