Stage one of the Macquarie View estate was officially opened yesterday by Regional Development Australia (RDA) Orana Chairman John Walkom.
Forty of the 232 lots were opened, comprised of nine one-acre lots, 15 half-acre lots and 16 quarter-acre lots.
The estate has been designed with a community focus and will include a cycle track, 'green space' areas and NBN connectivity.
Dubbo Residential Estates Director Peter Flude said the estate will be a $35 million project before it's finished.
"The total planning for this project has been six or seven years but we said we would be opening in the second week of November and we're opening in the second week of November.
"In 2006 work commenced, we're hoping we don't have to wait another seven years to open stage two," Mr Flude said.
Mr Walkom said the new housing development will benefit the community and local economy.
"The availability of quality housing provides choice for current and new residents. It encourages new home owners to enter the market and reduces the impact of demand on the local rental market by making new accommodation available.
"It also offers many economic multiplier benefits- the construction industry in the Orana accounts for around five per cent of all jobs in the region but when we think about the flow on effects it actually contributes a lot more than that.
"New jobs are created across various supporting industries, assisting local businesses, increasing employment and raising expenditure levels.
"New housing options and jobs attract new residents to the region, bringing a mix of skilled labour and increasing economic growth. These benefits will reverberate throughout the region."
Mr Flude said residents are already showing interest in the estate. "We've already sold a number of the blocks, actually it's a surprising start how many we have sold. Now it's up to [the real estate agents] to sell them all."