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Published On: Thu, Jun 23rd, 2011

$800m Arrowtown Development to Go Ahead

The 1450 lot large master-planned Arrowtown Development at Coomera has been given the Green Light to go ahead.

The project received  unanimous council approval for construction of Stage One. The Arrowtown development includes a central lifestyle hub with appartment living, townhouse complexes, small allotment and terrace housing and regular residential homesites.

Retail, commercial and dining precincts, district quality sporting amenities, state-of-the-art leisure facilities and wellbeing centres, sprawling parklands and landscaped open space will also be a key component.

Stage One will include 134 blocks (300sqm to 900sqm) and a large 5.7ha of dedicated open space featuring a 1.2ha central park and lifestyle facilities including pool, gym,  playgrounds, picnic & BBQ areas.

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Nick Nichols at Goldcoast.com.au is reporting that:

GOLD Coast funds manager LM Investments has been given the green light to develop an $800 million residential estate at Coomera, adding weight to the construction boom predicted for the city’s north this decade.

Stage one of the 112ha Arrowtown development, formerly controlled by the Young Land Corporation and previously known as Coomera Ridge, is poised to break ground later this year with the first of 134 home sites to be settled in 2012.

LM Investments, headed by Peter Drake, took control of the project early last year on behalf of investors and has progressed its plans for the development which could take up to a decade to complete.

The master-planned Arrowtown project will comprise 1450 homes when completed and will incorporate a broad range of housing options, including apartments, townhouses and terrace houses.

The 18ha first stage will have 5.7ha of open space with a 1.2ha central park, amphitheatre-style village green, health and lifestyle facilities and a resident’s pool and gymnasium.

The Gold Coast’s north remains the final frontier for broadacre development in the city and Arrowtown is among the largest projects undertaken in the region behind Mirvac’s $1 billion Gainsborough Greens estate.

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You can read the original article and make comments at goldcoast.com.au

About the Author

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Glenn Batten is the Principal Licensee of First National Real Estate Upper Coomera which provides residential property sales and property management services throughout the Northern Growth Corridor suburbs of Upper Coomera, Coomera, Pimpama, Willow Vale, Ormeau and Oxenford.

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