Ground-breaking event in Queensland marks commencement of $83 million Market Lane development
Habitat Development Group recently celebrated the sod turning of their $83 million mixed-use development, Market Lane Residences. Earlier this year, COVID-19 restrictions saw the project timeline halted, however, construction is now underway.
Situated at Mundoo Boulevard entrance in Maroochydore CBD, Market Lane Residences will comprise of 14 levels and will include 146 two and three-bedroom apartments and six SOHOs (small-office-home-offices).
The Queensland development will feature ground-floor retail, activating the streetscape and providing convenient access to amenities for residents within the building.
Habitat Development Group Director, Cleighton Clark, explained that even though COVID-19 has the potential to remain present for years to come, we can't remain idle forever.
"COVID-19 is creating lots of disruption through the economy, but we're looking at our investment in the future city centre as a 5-10-year investment. COVID-19 could be with us for many years, but our philosophy is that life goes on and you can't sit idle forever. We're very excited to be commencing the first residential buildings today."
Over the lockdown period when construction was on hold, the team worked towards ensuring full safety precautions were in place should there be a second or third COVID-19 wave in Queensland.
Clark also noted that sales enquiries have rebounded, with buyers looking to re-enter the property market in Queensland.
"Our sales enquiry has been very strong and has rebounded to pre-COVID-19 levels while vacancy rates are back to historically low rates across the Sunshine Coast also.
We need to make sure the economic fallout from this crisis is managed carefully and commencing projects like this can help provide economic stimulus at a much-needed time for the Queensland and Sunshine Coast economy. Once fully underway, the project will create 300 new jobs which is a significant boost for the region."
Cleighton Clark, Director of Habitat Development Group
At the sod-turning event, Sunshine Coast Mayor Mark Jamieson commended Habitat Development Group for realising their vision for Maroochydore City Centre.
"I commend Habitat Development Group for their foresight and enthusiasm in embracing our vision for the new Maroochydore City Centre. This project will provide a new accommodation option for some of the thousands of people who will ultimately work in the Maroochydore City Centre.
Having people live close to where they work in our new city centre adds to the vibrancy and activation of the city core, which is an important and attractive feature of some of the leading cities across the globe.
From an economic point of view, the commencement of the Market Lane project next month comes at an important time as the region starts to make its way through the recovery phase of the COVID-19 pandemic, by creating new employment opportunities for local tradespeople and suppliers."