- Thursday 16 June 2016
Australia’s only greenfield CBD within an existing urban area is taking shape and Sunshine Coast Council will invest $53 million in the 2016/17 financial year to continue the Maroochydore City Centre development moving forward.
Mayor Mark Jamieson said the project was a game-changer for the region and council’s investment would benefit generations to come.
“This project will deliver a modern, smart city from below the ground, up,” Mayor Jamieson said.
“It will include commercial, retail and dining precincts, entertainment, convention and exhibition facilities, a premium hotel and city living precinct, with 40 per cent of the 53-hectare site to be retained as parks and waterways.
“The new CBD is expected to generate 30,000 jobs by 2040.
“Ratepayers will not be paying for this project through their rates as it is being funded from loans initially, repaid through staged land sales.
“It is a cash flow neutral project, paying for itself as each stage is developed and released to market, over the life of the project.
“Once completed, council will come out owning $300 million in community assets – including great city streets, parks and land for community infrastructure – at no cost to our ratepayers, and the long-term employment opportunities in a new city centre are boundless.
“That’s a win:win for our community.”
Preliminary construction works are underway including building a major new waterway which will provide a backdrop for the office buildings and restaurants in the development’s commercial precinct.
This first stage of the development precinct will offer business, professional, education, retail and community services.