Construction has commenced on a five-storey $28 million retirement complex in Port Stephens, sparking concern from some residents.
The Kado Group Anna Bay project, approved in 2024 by Port Stephens Council, will include apartments going for as much as $3.25 million.
The group is a family owned and operated luxury retirement living developer and operator headquartered in Brisbane.
It is completing other projects in Coffs Harbour and Palm Beach in Queensland.
The top dollar Dune apartments at Kado Anna Bay feature a three-bedroom, two-bathroom layout over 252 square metres.
The smaller options, the $1.85 million Solace apartments, feature a two-bed, two-bath layout over 132 square metres.
South Tomaree Community Association co-president Tanya Martin said the development felt "out of character for Anna Bay" but community engagement from the developers has been positive.
"The price point has surprised quite a few of the locals," she said.
"There is nothing else in Anna Bay in terms of apartments or square footage that reaches those prices.
"At that price we would be looking at people moving from capital cities rather than homes for people within the community.
"The positive is that the units will be owner-occupied rather than sitting empty for parts of the year like holiday accommodation so it could bring new people who will become part of the community and support local businesses."
Other residents called the pricing "unrealistic" and "outrageous", with fears low income earners could be priced out of the area.
Commenting on social media, one resident said the price does not reflect the real estate price in area.
"Rather it is a developer's unrealistic and unachievable price tag," she said.
Another said the development was "certainly luxurious but the township of Anna Bay has never warranted those prices, akin to waterfront homes in the best parts of the bay".
"My concern is the prices won't be achieved and the town gets another half-finished eyesore."
One submission by a local resident, made at the time the development application was processed, said this type of development "is not wanted in the town" citing issues with traffic, parking, and saying it "would not suit the streetscape of Anna Bay".
"It detracts from our lovely small coastal community," they said.
Ms Martin said Mars and Kado have been speaking with the community to minimize issues around, noise, vibration and traffic during the construction phase.
Located at 113 to 121 Gan Gan Rd, the complex will house 32 units within two interconnected wings.
Potential residents in the over 60s community will be kept well entertained with a snooker room, beauticians' room, gym and sauna, swimming pool and communal gardens with dining areas.
Construction is being completed by Newcastle-based Mars Building Pty Ltd.
Mars Building said the complex is "designed to support long-term performance and occupant wellbeing".
"The development will also incorporate integrated wellness spaces, including features such as salt therapy rooms and other specialised amenities," a spokesperson said.
Construction is expected to continue until mid-2028 weather permitting.
