The developer behind an $83m million high-rise complex has outlined why his company chose to build in the heart of Maroochydore.
Habitat Development Group director Cleighton Clark said the overall vision for the Maroochydore CBD and the people who would call it home was an exciting prospect.
Market Lane Residences comprises 146 two and three-bedroom apartments elevated across 14 levels over two towers with six offices on the ground floor.
Mr Clark said piling would start next week and construction was expected to be completed within the next two years.
“Regionally the Sunshine Coast is a very exciting place,” Mr Clark said. “Then the CBD itself is a pretty exciting vision … lots of amenities, parks, restaurants, cafes, we see it as the heart of a very exciting region.” Mr Clark listed the Coast’s population forecast of growth, the level of infrastructure and vacancy rates in Maroochydore as all factors which made for an easy decision to build in the CBD. He said buyer interest had been strong.
“Inquiries have been very strong for both owner occupier both locally, and from Brisbane and Sydney,” he said.
“Singles, retirees, investors, young couples, it’s been very broad.” Prices for the two and three-bedroom apartments range from $430,000 to $1.5 million.
Sunshine Coast Mayor Mark Jamieson, who turned the sod to celebrate the milestone on Wednesday, said there had been delays in further land sales due to the pandemic.
Cr Jamieson said there had been engagement from a range of investors and expressions of interest had been undertaken for a development partner, which he said was continuing.
“We have a new hotel to commence, the city hall to follow, COVID-19 has had some impact, no doubt about that, but the courage shown by investors like Cleighton will only encourage others,” Cr Jamieson said. “There have been lots of people come with an idea or proposal, which hasn’t been quite right in what we want to deliver as a city centre.
“You only get one chance to deliver it right, these buildings will be here for a long time, it has to be done the right way.”
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