HOW COMMERCIAL REAL ESTATE IS RESETTING — AND WHAT IT MEANS FOR YOU
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Stockland has begun construction on its $573-million masterplanned community in Queensland’s Waraba region that will deliver more than 2000 homes to the state’s undersupplied market.
The Rivermont development is slated for a 175ha site at 1 Litherland Road at Upper Caboolture.
Independent economic analysis projects the community will contribute about $10.9 million a year through ongoing operations beyond the construction phase.
Stockland general manager of Queensland development David Laner said the Rivermont community addressed critical housing supply challenges in South-East Queensland’s growth corridor.
“The development will provide around 2000 homes across diverse typologies to meet various market segments, from first homebuyers to downsizers,” Laner said.
The project is part of the broader Waraba region, designated as a Priority Development Area (PDA) by the Queensland Government and identified as a major urban growth centre in Shaping SEQ 2023.
The area is projected to accommodate about 70,000 residents in 30,000 homes over the next 40 years.
Market response has been strong with the first two releases already securing buyers. The next land release is scheduled for April 5, followed by additional releases on May 3 and May 31.
Bulk earthworks are now under way. Initial settlements are expected in August and the first lots should be ready for building this year.
Stage 1 is to deliver 205 homesites ranging from 124sq m to 940sq m, with various lot configurations to accommodate different housing styles and price points.
The development will include 47ha of green space, six parks, and extensive walking and cycling paths.
The masterplan allocates 28ha for conservation land and includes provisions for an over-50s Stockland Halcyon land lease community, a retail centre with cafe and convenience store, plus medical and childcare facilities.
The site is 49km north of Brisbane CBD and 38km north-west of Brisbane Airport. It has direct access to the Bruce Highway.
Stockland’s Rivermont development is 5km west of Caboolture and Morayfield, bounded by the D’Aguilar Highway to the north, Caboolture River Road to the south and low hills to the west of Old North Road.
The community is near the Translink 656 bus route and major train lines at Caboolture and Morayfield stations.
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Meanwhile, Stockland has opened Aspen Park in its Calderwood Valley community on Grayling Street at Calderwood, 109km south of the Sydney CBD.
The facility features an adventure play area with interactive equipment, outdoor fitness stations, and shaded picnic areas with seating for community gatherings.
The recreation space represents Stockland’s ongoing investment in community infrastructure to enhance development value, the developer said.
Aspen Park is the fourth park to open in Calderwood Valley, which upon completion would feature a network of recreational spaces including 13 local parks, four district parks spanning more than one hectare each, two city parks of about 2.5ha each, and a sports field.
