The Gold Coast property market is set to be flooded with a tranche of new homes thanks to a billion-dollar residential development underway at Pimpama.
Civil works kicked-off on the $1 billion Maddison Estate project this week (January 15), with the multimillion-dollar contract comprising of external and onsite works to prepare a 32 hectare site for the release of 29 lots.
During its seven-year lifeline, the project – which may create opportunities for Gold Coast apprenticeships – is expected to generate approximately 3,500 construction jobs.
Once complete, the estate will sprawl over more than 115 hectares and be home to some 4,500 residents.
Luke Barnett of LM Investment Management – the company delivering the project – said it will “set a new standard for residential living”.
“We believe this development will change the face of the area,” he told News Limited.
“It is significantly different to other offerings because the urban design and the amount and quality of the parks are pretty special.”
Declared a project of state significant by the Queensland government, the development will also boast a Sam Riley swim school and a Natalie Cook beach volleyball centre.
Mr Barnett said landscaping, streetscaping and parkland design is also underway at the site.