QLD Property Investor

Gold Coast Introduces New Billion Dollar Development

Catering a big number of available residential spaces, retail, commercial, and industrial precincts, Gold coast introduced a new billion dollar housing project. This will support the foreseen population growth and other needed spaces in the community.

The Queensland Government has given the go ahead to a $1bn mixed use development on the Gold Coast with the potential to contribute an estimated $3.2bn to the local economy.

The Pacific View Estate will be located on a 350 hectare site in Worongary, a Gold Coast suburb approximately 75km north of Brisbane.

The development will include a maximum of 3,500 houses and apartments, a village centre with a mix of residential, commercial, retail and open spaces and an industrial precinct. It is expected to be home to up to 10,000 residents.

Did you know?
The South East Queensland Regional Plan (2009-2031) estimated that from 2006 to 2031, 754,000 additional dwellings will be required to adequately support population growth in South East Queensland.

The plan is based on the Gold Coast’s population increasing from 466,500 in 2006 to 749,000 in 2031.

Professional services firm KPMG estimated $3.2bn in revenue will be contributed to the local economy during the construction phase of Pacific View, with more than 2,700 jobs created.

“The development will include an industrial precinct that will support further employment and provide an ongoing contribution to the Gold Coast’s economic development,” said Deputy Premier and Minister for Infrastructure, Local Government and Planning, Jackie Trad.

“There are plans to upgrade existing transport options and establish new ones such as bus routes, cycle lanes and railway connections which will ensure residents are well connected to the city and surrounding estates.”

Subject to further approvals, construction is expected to commence late next year.