FKP acquired the spectacularly located site in 2006 when it paid $284 million for the Wilbow business, and land bank, beating Sydney based rivals Stockland and Mirvac.
The portfolio included 22 national development sites, of which Saltwater Coast was one of the highest profile. The former Henley Honda site, at the Camberwell Junction was another. FKP is currently marketing that project as Aerial.
Saltwater Coast abuts the Cheetham Wetlands to the north, and the Point Cook Coastal Park, and Port Phillip to the east, and south.
FKP executive general manager residential communities Evian Delfabbro said a major upgrade of Point Cook Homestead Road, a thoroughfare into the precinct, is due for completion this month.
“This is our biggest project in Victoria to date and to see it start taking shape and for titles to be issued is very exciting,” she said.
Other developers in Point Cook – which shares its 3030 postcode with Werribee – include Central Equity, Walker Corporation, Peet & Co and Villawood.