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Construction back on track

Habitat Development Group is set to start construction of Market Lane Residences, its new Maroochydore City Centre development.

Property

Construction back on track

Habitat Development Group is set to start construction of Market Lane Residences, its new Maroochydore City Centre development.

Brisbane-based Habitat Development Group has announced construction of its $83 million Market Lane Residences in the new Maroochydore CBD project will commence in late July this year.

Located at the Mundoo Boulevard entrance, Market Lane Residences will comprise 146 two- and three- bedroom apartments elevated across 14 levels over two towers, plus six SOHO (small office home office) townhomes and ground-floor retail spaces.

Habitat Development Group director Cleighton Clark says he’s pleased to lock in a date to commence construction after delays due to Covid-19. “Despite the disruption caused by Covid-19, we’re looking at our investment in the future city centre as a long-term commitment and we’re very excited to be commencing the first residential buildings in the precinct at the end of next month.

“We think council and SunCentral have done a terrific job with their vision for the Maroochydore City Centre – it’s an exciting, world-class precinct. The Sunshine Coast is one of the fastest growing regions in the country and we see an exciting period of growth, in particular the Maroochydore City Centre, over the next five to 10 years.

“We’re a privately owned business based in Brisbane and being privately owned, we can invest in these sorts of opportunities with the long term in
mind without getting caught up in short-termism or short-term fluctuations,” he adds. “Since we commenced 15 years ago, we’ve always based our strategy with the best long-term results in mind, and the Maroochydore City Centre is a precinct we think has tremendous potential.”

Mr Clark has also secured a second development site in the greenfield CBD project. “I’m also delighted to announce that Habitat Development Group has secured a second site in the precinct, which is located on Sunshine CoastParade and will be known as The Corso Residences. We are excited to have secured a pipeline of local projects to keep our team and our subcontractors employed and continue our contribution to the local economy over the next few years,” he says.

Sunshine Coast Mayor Mark Jamieson says he’s looking forward to seeing the Habitat team on site to break ground.

“I commend Habitat Development Group for their foresight and enthusiasm in embracing our vision for the new Maroochydore City Centre,” he says. “This project will provide a new accommodation option for some of the thousands of people who will ultimately work in the Maroochydore City Centre.

“Having people live close to where they work in our new city centre adds to the vibrancy and activation of the city core, which is an important and attractive feature of some of the leading cities across the globe.

“From an economic point of view, the commencement of the Market Lane project next month comes at an important time as the region starts to make its way through the recovery phase of the COVID-19 pandemic, by creating new employment opportunities for local tradespeople and suppliers,” Mayor Jamieson adds.

SunCentral CEO John Knaggs says it’s important to have construction start on site as the first commercial building in the CBD, Foundation Place, is due for completion in late September this year.

“We are also thrilled with Cleighton’s commitment and confidence in the Sunshine Coast and the city centre project by securing a second site for Habitat Development Group,” Mr Knaggs says.

“It’s a significant shot in the arm for the project, particularly as we emerge from the impact of Covid-19, and it also reinforces our urban design and planning principles to create a vibrant city centre.”

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