Communities developer DevCore Property Group is completing its Queensland debut with the approval of a $1.1-billion, 1600-home masterplanned community near Bundaberg.
It comes hot on the heels of “in-principle support” south of the border at Wagga Wagga, where a $2.5-billion, 2100-home project has been proposed, boosting the developer’s pipeline of 5000 homes across New South Wales.
Headed by former Rawson Homes founders Peter, Lawrie and Mark Rawson, DevCore Property Group partners with landowners to unlock development opportunity, predominantly in NSW.
DevCore now has seven projects under way across Australia, which would deliver a combined total of more than 5000 homes alongside seven land-lease retirement villages and retail village centres in the next 10 years.
DevCore managing director Paul Thompson said the $3.6-billion regional investment was underscored by robust population growth in both regions.
“There is pent-up demand for new residential developments in the [Bundaberg] region with our nearby flagship precinct The Fairways already sold out,” Thompson said.
“Our vision for Coral Cove Ocean Estate is to create a thriving community that offers much more than just new homes to live in.
“We are also committed to a diverse product mix, with a range of house-and-land options to suit different buyer needs and budgets, including first-home buyers, families and retirees.”
The first stage of the masterplanned community comprises 400 residential lots and offers access to an established 18-hole championship golf course as well as beaches.
Future stages of the approved masterplan included a clubhouse and tavern, a 2.5ha neighbourhood park and a proposed village centre. Completion of all stages is slated for within the next 10 years.
Meanwhile, its plans for the 220ha Rowan Village at Wagga Wagga comprise about 2100 homes in a mix of housing types that includes seniors living.
The masterplan also included provisions for a new school next to a future neighbourhood oval. The developer said it was engaging with the NSW Department of Education and private education providers to explore opportunities.
Rowan Village would be released and developed over 20 stages—the first stage is now under assessment.
Development approval is slated to be filed for early next year ahead of a 2027 construction start. The masterplan would be delivered via a 10-year program.
