A NEW wave of development is set to build upon Brisbane’s original masterplanned community.
Forest Lake, first opened in 1991, was attributed with introducing affordable small-lot housing to Australia in a community that included schools, shopping, health and sporting facilities.
The area, which is home to more than 22,000 residents, is set for its first major expansion in decades with developers buying the last remaining land parcels surrounding the community.
Ausbuild is creating two new housing estates in the area – Treeline and Prominence – and resident Susan Hardy said the regeneration is an opportunity to build her first home in the area she grew up in.
“I had considered downsizing in a different estate but decided to go with a four-bedroom home in the Prominence Estate at Heathwood, one for the resale value but also because I get to build in a new estate which has all the features of a mature development,” she said.
“My family lives close by, there is a new shopping centre going in and I’m close to public transport and the Logan Motorway, it’s perfect.”
Ausbuild director Matt Loney said Treeline on Blunder Road was close to sold out, while Prominence at Heathwood had sold more than 70 per cent of the first stage.
The estate, which will have more than 150 lots when complete, is set for stage two and three releases in early 2016.
“We have a great range of lot sizes in the estate with blocks from 400sq m to 580sq m allowing for a good mix of product,” Mr Loney said.
Mr Loney said many buyers moving to Treeline and Prominence were either relocating from Forest Lake or young couples building their first homes close to where they grew up.
“While there has been a lot of development further south and west, this is the first significant estate so close to the city and within the boundaries of Brisbane City Council,” he said.
Mr Loney said the area was going to be one of the growth areas of Brisbane, with new employment nodes appearing and a new school on Ritchie Road.
Penfold Property Group is set to start construction on the first homes in the 200-lot Hampstead Heath estate at Doolandella in January.
Company director Marc Wilkinson said the affordable house and land packages, starting from $399,500 for a three-bedroom house, were not available anywhere else in Brisbane.
“For that sort of price buying new house and land, the only other opportunities are out at Ipswich or Logan. This is some of the last land in Brisbane – other than Rochedale, which is seeing packages around the million-dollar mark,” he said.
“(As a developer) It is very hard to find land anywhere in the Brisbane City Council area now. Hence why there are so many apartments going up.”
Mr Wilkinson said within two years the whole are along Blunder Road would change, with a new school and shopping centre among amenity coming to the area.
He said Hampstead Heath was aimed at owner occupiers, which was a positive for the community.
“I think it’s good to see developments coming out of the ground that are growing new communities, where people are looking to live,” he said.
Originally Published On: http://www.couriermail.com.au/
