NEW CITY GREEN LIGHT
BACKERS of a mini-city aim to start construction on the Gold Coast next year and 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.
Ultimately it will feature 3500 homes, a retail village, school, childcare centre, commercial space, play areas and art displays.
BACKERS of a mini-city aim to start construction on the Gold Coast next year after a decade of talks.
The project is forecast to 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 longproposed 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 on Friday. It will include 323 homes and a 6ha site for 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. Overall, the precinct will take 15 years to build.
“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.
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 15year construction period.
“People have been waiting a long time for this development to move forward,” 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 lookout for work.”
Project director Chris Alston said a large team of local consultants had been working on the planning for many years.
“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. “The project will bring new land choices and more diverse housing options, as well as many new employment opportunities and economic benefits.”
THIS COULD NOT COME AT A BETTER TIME FOR THE CITY ... THE TIMING IS PERFECT FOR LOCAL TRADIES COUNCILLOR GLENN TOZER