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Developer Quinten Meyer, of Alexandra, said he owned land beside Lanes Dam at 17 Lanes Rd and was planning to develop it into residential housing.
He had owned the nearly 8ha site for two or three years.
He was still in the ''drawing stages'', so had not applied for council consent, but he hoped to receive it in six to eight months.
He had developed the Thyme Hill Estate subdivision off Manuherikia Rd opposite the Alexandra Holiday Park.
He said there would be sections of various sizes and although some of the site could not be built on, most of the area was zoned residential and available for building.
The Central Otago District Council was aware of Mr Meyer's intentions.
Last week, the council approved a land exchange in the area.
A picnic area with tables by Lanes Dam was officially owned by Mr Meyer's company April Construction Ltd, and part of the land he wanted was owned by the council.
The council gave authority for the land exchange to go ahead so the council would own the picnic area to maintain it for public use.