COSTCO plans to open the doors to its Boolaroo store by the end of August.
Managing director Patrick Noone said construction had started on the site, which will host a 14,000-square-metre warehouse and a more than 800-space carpark.
"We're finishing up the earthwork at the moment and hope to start bringing in the frame late next month," Mr Noone said.
"We will be working almost up until the open date preparing the warehouse both inside and outside.
"We're anticipating opening doors to our members in late August, although we don't have an exact date at this stage."
The Newcastle Herald broke the news last July that the retail giant was planning to open the outlet, which will be its first outside Sydney and only its fourth in NSW.
The Hunter Regional Planning Panel approved the $49 million proposal in December.
"We are thrilled to continue our investment in NSW with this new location in Lake Macquarie," Mr Noone said.
"We have been looking for a suitable location for some time in the greater Newcastle area and this site really ticks all of our boxes.
"Costco sees this region as dynamic and fast-growing and we believe that we can bring great value in relation to a wide range of products and services to the community.
"What's more, we also know we have a number of members already in this area, that we're sure will appreciate a shorter commute to Costco."
He said members will be able to buy "everything from fresh food and electronics to clothing and furniture" under the one roof.
There will also be speciality departments, including an optical centre, hearing aid centre, tyre centre and fuel station.
Mr Noone said once complete, the warehouse will have 225 employees. He said it would start hiring "very shortly".
"We have just opened our temporary office site at Charlestown Square, which members of the public are welcome to drop by with questions on signing up and job opportunities," he said.
"We will also be posting job opportunities on our website as we're ready to start interviewing."
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