Approval Received For Bellvista II Residential Community

Sydney, Nsw Australia (PressExposure) September 11, 2011 -- Stockland has received approval to commence construction at its Bellvista II residential community at Caloundra following approval by the Urban Land Development Authority (ULDA).

The Bellvista II approval is an advance land release within the Caloundra South Urban Development Area. The balance of the 3,700 hectare project that will include at least 20,000 residential lots, employment, retail, retirement living and community lands, is currently being considered for approval by the Queensland Government.

Work will commence next week on the Bellvista II community, which will feature approximately 700 homes, a village centre with retail, and three large parks across the 65 hectare site.

Land at Bellvista II is expected to be available from $140,000. Based on the current approval, first settlements are expected towards the end of FY12.

Stockland CEO Residential, Mark Hunter said: "This is the first step in the creation of a broader community, which will bring affordable housing and sustainable living to the Sunshine Coast, as well as employment opportunities and economic investment."

Bellvista II builds on the success of the first Bellvista community, which is now home to around 1,000 families and boasts a strong sense of community.

Local residents, led by the Bellvista Community Association, have played a key role in the final design. Residents have helped with ideas for the major park at the entrance to the community and have also secured the delivery of a new dedicated construction road into the site, which will divert heavy traffic off suburban roads.

"Employment opportunities are also very important to the Sunshine Coast and that is why we will work with our builder partners to introduce an apprenticeship program to give young people a chance to work locally and build a career," Mr Hunter said.

There will be a strong focus on sustainability and the protection of the environment. An integrated stormwater capture, treatment and release system has been designed to ensure the protection of nearby wetlands and water courses.

Large sections of vegetation will be rehabilitated, with a particular focus on corridors along nearby waterways, while all building will be set well away from existing vegetation.

"This community will create a new benchmark for sustainable living on the Sunshine Coast and demonstrates Stockland's commitment to protecting and enhancing the environment," he said.

For media enquiries contact:

Karyn Munsie
EGM - Corporate Affairs
Stockland
T +61 (0)2 9035 2180
M +61 (0)421 050 430

Karyn Munsie
EGM - Corporate Affairs
Stockland
T +61 (0)2 9035 2180
M +61 (0)421 050 430

For investor enquiries contact;

Karyn Munsie
EGM - Corporate Affairs
Stockland
T +61 (0)2 9035 2180
M +61 (0)421 050 430

Alex Abell
Senior Manager Investor Relations
Stockland
T +61 (0)2 9035 2553
M +61 (0) 466 775 112

About Stockland Australia

Stockland is Australia's largest diversified property group, actively managing a portfolio of assets including residential lots, retirement living, shopping centres, affordable housing, office and industrial assets. Our mixed-use model means we are in a good position to positively impact the communities where we operate.

Press Release Source: http://PressExposure.com/PR/Stockland_Australia.html

Press Release Submitted On: September 11, 2011 at 7:11 pm
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