A company playing a lead role in the development of the Maroochydore city centre has lodged plans to further its footprint in the region with a new $153m waterfront towers project.
Habitat Development Group has lodged an application with Sunshine Coast Council to develop 200 units across two eight-storey apartment towers overlooking Lake Kawana.
The Brisbane-based firm behind Market Lane and The Corso Residences in the Maroochydore CBD lodged the code-assessable application on August 24.
The site earmarked for development was made up of two lots which combined totalled almost 9000sq m and were the last two east-facing blocks on Birtinya Island.
A rooftop terrace was also proposed for Level 9 of the St Clair apartments which would feature ocean views in some of the upper levels.
Habitat Development Group managing director Cleighton Clark said he hoped to build on the momentum created in the precinct by Stockland and other local developers.
Mr Clark’s company had built on the Sunshine Coast for the past 16 years and he said it was the “most buoyant market I’ve ever seen”.
“Managing construction costs and supply chains is the key challenge at the moment, but the sales are there to support the higher construction costs,” he said.
“Rental vacancy rates have been low on the Sunshine Coast for a number of years, but vacancy is incredibly tight and we’ve witnessed very strong rental growth in the last year.
“Apartments are renting for 20% more than they were 12 months ago in projects we’ve completed and continue to manage.”
Mr Clark said he expected 350-400 workers would be on-site during the construction phase and local subcontractors and suppliers would also be involved.
Pending approval the project was due to start in mid-late 2022 and was due to be finished in March, 2024.
It came as Habitat’s other Coast projects completely sold out, a positive sign for the St Clair project.
The proposed towers had 130m of Lake Kawana frontage and were set to come with a 25m lap pool and dining room.
The proposal included 46 two-bedroom units, 119 three-bedroom units and 35 four-bedroom and penthouse apartments.
Read the original article here