Brisbane Lord Mayor Graham Quirk recently joined developer
Consolidated Properties to officially mark the beginning of construction on $400 million masterplanned community - Cornerstone Living.
Set to be South East Queensland’s largest suburban renewal project, Cornerstone Living will be a ten-year development program, built by
Hutchinson Builders, which will ultimately produce 1,000 dwellings only 12 kilometres from the city’s CBD on the edge of Sunnybank.
Construction on the first stage has commenced, and includes 26 one-, two- and three-bedroom terrace homes, all of which have already sold out. These new terrace homes are expected to be completed by July 2014, and have mainly been sold to local owner-occupiers and first homebuyers.
Following strong buyer demand experienced in the first stage, Consolidated Properties will release its first apartment development this weekend, as well as its second tranche of terrace homes.
The apartment development will include one-, two- and three-bedroom properties with generous balconies, basement car parking and lift access. Two-bedroom apartments start from $329,000.
In addition, a new collection of two and three bedroom terraces - all with street front entry plus large living areas and external courtyards and balconies - will be made available in this new release starting from just $384,000.
"The start of work at Cornerstone Living marks the realisation of a vision shared by State government, Brisbane City Council and Consolidated Properties to revitalise a major part of Brisbane's inner south so the area has a more vibrant and liveable future," he said.
"State government has recognised the need for new and diverse development on the 10 hectare site and Council has endorsed this suburban renewal through its Acacia Ridge/ Archerfield Neighbourhood Plan released last year.
"The Neighbourhood Plan allows for a new mix of dwellings to take advantage of the convenient location within walking distance of two train stations and schools and a three minute drive from the entertainment and shopping precinct of Sunnybank.
"Consolidated Properties will bring to reality the vision shared by all levels of Government for Cornerstone Living to integrate with the surrounding community and enhance the liveability and appeal of the area as an affordable and desirable place to live.
"Our first stage of terrace homes sold to buyers who could see the potential of Cornerstone Living and how it would change the face of the area to create a cohesive, contemporary community. I expect the next stage of homes will also be taken up quickly - especially as people start to see the first homes take shape."
Mr O’Rorke said Cornerstone Living would be an asset for all inner south residents and visitors, not just those who chose to call the community home.
"Over the coming weeks and months a number of public amenities will open on site - including a cafe and community garden, complementing the sales and community centre that has been operating for the past year" he said.
"The aim of the Cornerstone Living redevelopment is to deliver real, tangible benefits for the entire community, and these communal facilities are the first step towards that goal.
"The development as a whole will generate up to 6,000 new jobs - and it's common knowledge that new jobs and new housing hand-in-hand are important stimulants for the economy."