Developer buys back $600m disaster suburb
Hundreds of millions of dollars in compensation will be offered to 841 homeowners in Western Sydney's 'sinking suburb' following a pre-Christmas handout from one of the country's biggest development companies. In what is effectively buying back a suburban area, Lendlease has offered to repurchase every home in Jordan Springs East that is marked by Penrith City Council as susceptible to significant damage caused by subsidence - if they are actually damaged. The commitment directly impacts more than $600m worth of real estate and comes after residents discovered major cracks inside and o...
Source: ballinaadvocate.com.au