TRUE SIZE OF $1.5BN MEGA SUBURB REVEALED
CONSTRUCTION has begun on the Gold Coast’s new $1.5bn suburb, with new mapping revealing the sheer size and scope of the project.
Builders have arrived at the Worongary site which will become home to Skyridge, previously known as Pacific View Estate, with groundbreaking expected to occur next week.
Developer Perron Group is expected to spend more than $150m on the initial stages of work by 2023, with construction expected to continue through 2036.
Perron Group general manager Lyle Kenny said the project was a “major vote of confidence” in the Gold Coast.
“We are thrilled that this eagerly anticipated project is finally breaking ground and expect it to be one of the last true masterplanned communities on the central Gold Coast,” he said.
“There is presently a short supply of suitably zoned land within the city to develop a community of this size and scope.”
The project, which will be home to 10,000 people and built over a 15year period is expected to inject more than $3.2bn into the economy.
The initial six stages will include more than 320 of the 3500 homes planned for the site and will also include 5ha of land for its future education precinct. New overlay maps released by Perron Group reveal Skyridge’s size will rival that of Varsity Lakes, or the equivalent of Chevron Island, Bundall, and part of Surfers Paradise combined.
Ultimately the project will feature a retail village, school, childcare centre, convenience, retail and commercial spaces, play areas, and art displays.