Stage one at Estella Rise will release a total of 48 residential building lots.

Director of Hurst Homes Peter Hurst said the development was a boon for the city.

“Fantastic,” he said.

“We’ve got more land coming out which gives greater choice to the community now with Estella recognised as a major growth centre of the city. 

“We’ve had a bit of a land shortage and this will alleviate demand.”

A park will be the centrepiece of the suburb providing barbecue facilities, playgrounds, walking trails and bike paths.

Selling agent for the blocks Neville Chapple said the lack of a supermarket nearby shouldn’t be a turnoff.

“We don’t feel it is because there’s the avenue to build a supermarket and other shops to go out there – plus a medical centre already.

Mr Chapple said some blocks had been sold.

“We have sold eight already,” he said.

“We’ve launched it (the subdivision) with local builders for them to buy blocks to service their clients.”

Road access concerns were also played down by Mr Chapple.

“I don’t believe it will be (a concern) because council and RTA have looked at that and it wouldn’t have been approved if there was a problem with that.”

Mr Chapple said the area’s location to the CBD, the university, views to city, the variance in size of the blocks and the six hectare parkland were features.

Combined Development Group’s managing director Graham Walker said the site was community focused.

“It is very important today that developments recognise the need to build not only houses but more importantly communities,” the developer said. 

Matt Jenkins, director of Matt Jenkins Homes, said the lots are reasonably priced.

“The biggest things it offers are affordability for site costs and the views, especially with views over the Murrumbidgee,” he said. 

“The proximity to the centre of town and the way the uni’s going we’re getting a lot of interest.”