The quirky coincidence was not lost on Mike and Toni Stewart, who will settle in the estate with children Ryley and Kade.

“We couldn’t quite believe it,” Mr Stewart said.

‘‘At least they are spelt differently.’’

Huntly is a small town in the North Island of New Zealand, while the $1.5billion Huntlee project will be the Hunter’s biggest residential development and first new town in decades.

The first stage of the plan includes 1700 dwellings, with overall plans for 7200 dwellings on the site.

LWP managing director Danny Murphy said construction was expected to start by Christmas.

“We now have in place all necessary approvals from state and federal governments,” Mr Murphy said.

“It has been a long and, at times, challenging journey, but the additional time has allowed us to ensure we get everything right.’’

He said the project would include parks, hiking and bike trails, community centres and a childcare centre.

Cessnock mayor Bob Pynsent said an agreement between the council and LWP for infrastructure linked to the development was being further negotiated between solicitors from both parties.

Cr Pynsent said an important part of Huntlee was the diversity of housing it would provide.

‘‘Huntlee will have different block sizes, which gives it far more character, blend and balance,’’ Cr Pynsent said.

The Hunter Expressway, also planned to open by Christmas, would be ‘‘right at its doorstep’’.

LWP predicts Huntlee will create 3000 permanent jobs, as well as construction work.

The project will be built over 20 years, comprising four villages and a town centre.