The families funding Hummock Hill
TWO wealthy Sydney families who have financed developments worth more than $250 million are behind the Hummock Hill Island Resort project.
A report providing advice on the project from 2006 reveals those behind the $950 million proposal "are the Scarf and Hatsatouris families from Sydney, NSW".
"Over the past 10 years their family companies and associate companies, have been responsible for major property developments in NSW, consisting of: shopping centres; home unit developments; commercial properties with a value of over $250 million," it read.
One of the projects was redeveloping 70 Edgecliff Rd Woollahra
An Australian Financial Review article in 2012 about then Environment Minister Tony Burke knocking back the $950 million project stated "the development in question has been pushed for 17 years by the wealthy Sydney family Hatsatouris."
Since the report was released in 2006 the proponent of the project has changed to Eaton Place Pty Ltd which recently released its most updated plan.
The plan for the $950 million resort was changed to receive State Government Approval.
But the fact the proponent has changed from East Wing to Eaton Place doesn't mean the Scarf and Hatsatouris families have parted ways with the project.
A document from 2013 shows that a Peter Scarf is the director of Eaton Place Pty Ltd.
The Observer has tried to contact Mr Scarf this morning but has been unsuccessful.
The initial advice statement from 2006 shows East Wing Corporation had completed, these included:
Shopping complex, comprising cinema complex and 22 shops
294 New South Head Road, Sydney - officer building
Rezoning of land for 70 home units - Port Macquarie
DA for a Shopping Centre in Gladstone - sold to Advanced
Development of The City Centre - Market and Pitt Streets
Redevelopment of 125 York street, Sydney
Redevelopment of Edgecliff Post Office into retail and commercial