Gold Coast estate gets go-ahead

A residential estate planned for the Gold Coast has been given approval by the Queensland Government.

The project, entitled Pacific View, will give a boost to construction jobs within the area, as well as providing homes for a number of families in the region.

"This development will create more than 2,700 jobs during construction – builders, carpenters, electricians, landscapers, and all their apprentices – and has the potential to contribute $3.2 billion to our state's economy," said Deputy Premier and Minister for Infrastructure, Local Government and Planning Jackie Trad.

The decision reflects a drive to encourage job creation and promote infrastructure investment, as a large number of civil projects will be required to support the estate.

When completed, the development is expected to provide up to 3,500 homes for residents. These will be complimented by other projects to ensure the area continues to grow over time.

"As a mixed-use, master-planned community, Pacific View Estate will offer excellent community lifestyle advantages including open spaces, parks and facilities, including a village centre, restaurants, retail and office space," said Ms Trad.

There is also an industrial precinct included in the master plan, which should promote sustained employment in the region. 

Nearby infrastructure is set to receive an upgrade thanks to the estate, ensuring the supporting networks can cope with the increased loads brought on by thousands of new residents.

Included in these plans are additions to existing roads, as well as new cycle lanes, bus routes and rail connections. This should see the estate receiving the support it needs to integrate smoothly with surrounding areas.

Gold Coast growth

Pacific View is one of many projects contributing to the growth of the Gold Coast area. Colliers reported on a number of developments, both industrial and residential, that have contributed to the region's landscape.

Completed last year, the light rail service, GoldLinQ, is credited by the real estate agency as being a significant driver in the city's infrastructure development, providing a much needed addition to its transport network.

Large-scale projects are also in various stages of development. A $345-million hotel tower will be built on top of Jupiter's Casino, while 2014 saw the $300 million redevelopment of the Pacific Fair shopping centre.

A number of residential projects also went to market towards the end of 2014, including apartment buildings in Broadbeach and Robina.

As significant developments such as these, the region should see sustained levels of growth as investor confidence is restored.