Mega suburb will inject $3.2B into Queensland economy

 

BACKERS of a mini city aim to start construction on the Gold Coast next year after a decade of talks, in a move that will inject more than $3.2 billion into the economy.

Developer Perron Group and joint venture partner Ross Atkins plan to finally move ahead with the long proposed Pacific View Estate earmarked for a 342ha site between Highland Park and Worongary.

A development application for the first six stages of the $1.5 billion project was filed with the Gold Coast City Council late on Friday afternoon.

Pacific View Estate at Worongary.
Pacific View Estate at Worongary.

It will include 323 homes and a 6ha site which will become the future site of a new school.

Ultimately the project will feature 3500 homes, a retail village, school, childcare centre, convenience retail and commercial spaces, play areas and public art displays.

Perron Group land development general manager Lyle Kenny said he hoped to begin construction late next year, starting a process which will run for 15 years.

A development application was lodged late on Friday afternoon.
A development application was lodged late on Friday afternoon.

"We are committed to the long-term future of the city and this unique project to create an enviable lifestyle in a new masterplan community strategically located where the hinterland, city and coast all meet," he said.

He said the start date was dependant on approvals from the council and federal government, as well as favourable economic conditions.

It will be hope to 3500 dwellings.
It will be hope to 3500 dwellings.

The State Government has already given the project the green light, having called it in back in 2015.

The development, which will ultimately be 2ha larger than Varsity Lakes, is also set to be renamed and rebranded ahead of being launched to the market next year.

Area councillor Glenn Tozer said the development would inject $3.2 billion into the economy during its 15-year construction period.

Glenn Tozer Picture: Jerad Williams
Glenn Tozer Picture: Jerad Williams

"People have been waiting a long time for this development to move forward and for homes to start being built," he said.

"This could not come at a better time for the city as we are looking for opportunities to grow the economy.

"While people have been frustrated that it has taken so long, the timing is perfect for local tradies who are on the look out for work."

Construction could begin next year.
Construction could begin next year.

Project director Chris Alston said a large team of local consultants had been working on the planning of the major project for many years and are edging closer to a start date.

"The application lodgement for stages one to six is a significant milestone for the development and we look forward to working closely with council to finalise approvals," he said.

"As it evolves, the project will bring new land choices and more diverse housing options to the Gold Coast market, as well as many new employment opportunities and economic benefits."

Originally published as Mega suburb will inject $3.2B into Coast economy



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