The highly anticipated Country Club Estate development officially launched on Friday and a sod turning ceremony was held at the site to mark the occasion.
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The development is being built by the Federal Group and Kin Capital.
Over the coming years, 372 lots are set to be built at the Country Club Tasmania in Prospect which is expected to provide an "outstanding lifestyle community around the Country Club".
Kin Capital director David Bacon estimated that the development would generate around $400 million worth of economic activity.
"Some of which would be development costs for the land, infrastructure and the golf course, much of it would be private construction of residences," Mr Bacon said.
Kin Capital managing director Will McGeachie said the development had attracted considerable interest from locals and families looking to make the most of the larger house blocks, open parkland spaces, an upgraded golf course and extensive nature trails that had been designed for walking, cycling and horse trekking.
"We'd like to think in 10 years 'time that this will be an outstanding lifestyle community," he said.
"It'll be heavily in demand, people will want to live here, but they'll also have great facilities - the best of both worlds in terms of rural visitors and living with services you'd expect in the city."
Federal Group executive general manager Daniel Hanna said the group had some very strong visions around the future of the Country Club.
"We've got a lot of confidence in both this area, but also the Northern Tasmanian visitor economy and we think investments are really warranted to further progress the Country Club," he said.
Harcourts Launceston project sales agent David Hernyk said the lots would meet everyone's expectations.
"We're expecting young couples that are about to start a family and older residents as well," he said.
The lots will be released in 10 different stages and the developments are expected to occur between seven to 10 years.
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Satria Dyer-Darmawan
Satria Dyer-Darmawan is a journalist for The Examiner and considers himself to be an all rounder. Originally from the Central Coast of NSW, Satria has worked in Alice Springs and North Queensland and isn't afraid to immerse himself in regional communities.
Satria Dyer-Darmawan is a journalist for The Examiner and considers himself to be an all rounder. Originally from the Central Coast of NSW, Satria has worked in Alice Springs and North Queensland and isn't afraid to immerse himself in regional communities.
