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Developer Peet has filed plans for the latest stages of its south-east Queensland satellite city masterplan.
The national community developer is asking Economic Development Queensland (EDQ) to reconfigure a 319ha release area within the Greater Flagstone Priority Development Area.
Peet wants to reconfigure a lot on New Beith and Everdell roads into 1653 residential lots as the latest section of its $6.7-billion Flagstone masterplan.
The seven-stage project would deliver a state primary school, childcare centre and a 17.6ha regional sports park and a district centre.
Streetscapes and infrastructure—including road networks and public transport stops—are also included in the plans.
Peet says that about 95 per cent of the proposed site is within 400m of a bus route, stop or service catchment.
The tiered neighbourhoods would cater to first-time buyers and smaller families to more established families in their second or third home with slightly larger lot depths and frontages.
Meanwhile, a premium precinct will offer larger residential allotments, with ridgetop lots boasting “maximised panoramic views”. The project would offer 20 different residential lot types.
Despite the need for new housing projects in south-east Queensland, Peet’s project has faced delays in getting its road infrastructure plans approved, with best-case scenario a December, 2024 approval, pushing completion from June, 2025 to August, 2026.
The subject site is 40km south-west of Brisbane’s CBD and 7km west of Jimboomba in the Logan City Council Area but falls under the jurisdiction of EDQ.
Peet acquired Spirit Super’s 50 per cent shareholding of the Flagstone City project for $46.2 million in early 2022, bringing the project under its full ownership.
Upon completion it will provide 12,000 homes and a 126ha CBD serving a population of 30,000, with 44,000sq m of retail floorspace, 58,000 sq m of office space with a proposed interstate rail service.
The PDA sits between two future employment precincts at North Maclean and Bromelton, and full development of the area is expected to take up to 40 years after it was declared a PDA in 2010.
South-east Queensland’s population is expected to grow to at least 6 million by 2046, up almost 10 per cent on the current population of 5.5 million, triggered by interstate and international migration and prompting a major housing strategy by the Queensland government.
Along with Flagstone, which is expecting a population close to that of Cairns upon completion, Yarrabilba has been earmarked for future growth as a satellite city.
