Thursday , 3 / March / 2016
Investa Land has welcomed the state government’s approval of the Plan Scheme Amendment for the Palmview development, along with the announcement of $5 million in loan funding to help fast-track critical infrastructure for the region’s newest urban village.
Deputy Premier, Minister for Infrastructure, Local Government and Planning and Minister for Trade and Investment, Hon. Jackie Trad MP announced the approval and funding today while visiting the 950-hectare Palmview site, set to underpin the Sunshine Coast’s economic growth over the next 10 to 15 years.
Investa Land owns over two thirds of the developable land at Palmview, with the remaining third held by two private landowners.
The development was granted $5 million in co-investment funding under the Queensland Government’s Catalyst Infrastructure Program to kick-start water and sewer infrastructure.
Investa Land Queensland General Manager Bruce Harper said Minister Trad’s announcement had unlocked a key development opportunity, with significant flow-on benefits for the Sunshine Coast.
“The announcement comes at a time of growth for the Sunshine Coast, a region currently experiencing a shortage of greenfield residential land and housing,” he said.
Investa Land welcomes the Minister’s decision to approve the Planning Scheme Amendment which is a milestone for the project.
“We would like to thank Minister Trad and Sunshine Coast Council for the funding, which allows us the capacity to bring forward key infrastructure to support the development.”
Over 16,000 residents will eventually call Palmview home, with over 7,000 homes to be developed over the next 15 to 20 years. A central shopping precinct, public and private schools, parks, and community recreation facilities will complete the urban village.
Investa Land has established a track record in responsible development on the Sunshine Coast, having completed the award-winning Bellflower community in 2011.