His property development company McCloy Group and Barr Property and Planning filed the application for the retirement village at the 450-home Heritage Parc residential estate in Rutherford with Maitland Council in November.
The final decision on the project has now been handed over to the Hunter and Central Coast Joint Regional Planning Panel (JRPP).
When approved, the vacant land at 62 Grand Parade will be home to 99 two- and three-bedroom units, plus a pool, bowling green and community centre.
Mr McCloy, who was mayor from 2012 to 2014, has enjoyed a colourful career in NSW politics and property development. In 2015, he controversially lost a High Court bid to overturn a NSW law banning developers from making political donations.
His new village will join a host of village and aged care developments being planned for the Hunter region.
A $20 million 74-unit village on 47ha at Berry Park by local Hunter developer Hilton Grugeon was approved last year along with a $2.2 million 15-house development by Martin Building Services in Largs.
Land lease developer Paul Unicomb has also received approval for a $160 million 450-lot lifestyle community – called Hunter Grange – on 40ha at East Maitland. The first stage will include 134 homes and follows the success of his Walka Grange community in nearby Rutherford.
Signature Gardens has also lodged an application for a $53 million 195-home retirement village development at Rutherford.
Clearly local demand is strong.