- The 29-hectare community will feature 329 lots
- 30% of the site will remain open place
- The Moreton Bay is one of the fastest growing corridors of growth in Australia
Property developer Cedar Woods has announced It will release the first homesites in the Burpengary masterplanned community north of Brisbane following development approval.
The $105 million 29-hectare community will feature 329 lots, and is the developer’s third development in South East Queensland following Ellendale in Upper Kedron in 2014 and Greville in Wooloowin in 2020.
The project represents Cedar Wood’s plan to meet the demand for affordable housing across one of Australia’s fastest-growing growth corridors.
Under the masterplan, over 30% of the site will remain open space, which includes a recreational park and an environmental corridor.
Road improvements will also be funded by the developer, which include signals, safety and efficiency improvement, new roundabout access and bike lanes around the community.
Michelle Wooldridge, Cedar Woods’ Queensland state manager said the community allows buyers to live in a contemporary neighbourhood framed by greenery – similar to previous developments, such as Bushmead in Perth.
“Moreton Bay is the fifth fastest-growing region in Australia with the economy predicted to double to $40 billion in the next 20 years and the population to grow to 700,000,” Ms Wooldridge said.
“Residents will enjoy a seven-hectare green spine, which will run through the community, with more than 200 fauna nesting boxes in this area and the surrounding nature reserves also providing additional homes for local habitat.
“A four-metre vegetation buffer will create a beautiful entry for our community, while ensuring the masterplan is respectful of the neighbouring rural residential subdivision.”
Civil works are set to begin mid-year, with the first 303sqm to 642sqm lots expected to be released beforehand.
Currently, seven stages are planned to be released with a possibility of an eight, subject to further approval.
Located about 45 minutes from the Brisbane CBD, the Moreton Bay economy is expected to double to $40 billion annually within the next two decades, with population to grow to 700,000 – more than the current population of the Gold Coast.
Additionally, it located within two kilometres of several bus stations and the Burpengary Train Station. The area is also a 10-minute drive from 12 shopping centres and 16 schools.
“We’re expecting strong demand when the first homesites hit the market,” added Ms Woolridge.