Caloundra South Development Scheme Approved

Sydney, Nsw Australia (PressExposure) October 24, 2011 -- The Queensland Government today approved the Caloundra South Development Scheme, which provides the vision for Stockland's new Sunshine Coast community.

Caloundra South will become home to approximately 50,000 people over the next 20 years and will include a large town centre for shopping, retirement living villages, diverse housing, transport, as well as education and business opportunities. Stockland proposes to include 170,000m² of retail and commercial space, and 650,000m² of business and industry space.

The development scheme sets out the mix of housing at the new community as well as roads and public transport networks, locations of schools, open space and the location of key conservation areas across the 2,310 hectare site.

Stockland Managing Director Matthew Quinn said: "This is an exciting milestone for the most significant residential project Stockland has ever undertaken.

"Caloundra South will be an innovative and sustainable community which will transform the Sunshine Coast, delivering affordable housing, jobs and the measured growth needed to ensure the region's long-term prosperity," Mr Quinn said.

"The project will deliver 24,000 direct and indirect long term jobs, providing an important boost to the region.

"We will continue to work closely with the Urban Land Development Authority, Sunshine Coast Regional Council and the local community as we prepare the master plan for the site."

The next step in the process is to lodge and obtain state government approval for the Caloundra South Master Plan, which Stockland aims to complete during 2012.

"We are currently undertaking a Federal environmental assessment process. We will continue to engage with the local community and the government on these important issues," Mr Quinn said.

Both State and Federal processes need to be completed before any works can commence.

Construction is underway at the Bells Reach community, which is an advance land release within the aloundra South Urban Development Area. First settlements are expected in the early release community towards the end of FY12.

About Stockland

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

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Press Release Submitted On: October 24, 2011 at 5:55 pm
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