EROWAL Bay resident Chris Grounds said the paper estate being sold by a Sydney real estate agent in the past two weeks had the potential to be “another Heritage Estate”.
“It’s a Heritage Estate kind of thing all over again,” Mr Grounds said.
He pointed to vague promises of rezoning contained in advertising for the 288-lot estate, which were similar to promises associated with other estates throughout the Shoalhaven in recent decades.
Those vague and ultimately empty promises of rezoning had resulted in many people parting with millions of dollars to buy land they were never able to build on, and Mr Grounds feared that cycle was set to repeat.
“Paper estates have been a big financial drain on the community to fund investigations and legal battles, and this is another community issue involving a paper estate,” he said.
Mr Grounds believed the environmental qualities that resulted in the Heritage Estate land being quarantined from development in 2009 also existed on the land between Heritage Estate and the Erowal Bay village.
He also thought the land was home to state and federally-listed endangered species.