SunshineCoastRegionalReport2ndQtr2004

MAJOR REGIONAL DEVELOPMENTS

This section details some recent, current and planned major regional developments in the Sunshine Coast Region.

GOVERNMENT PROJECTS
Recent Government projects have included:

•     Noosa Shire Council commenced construction of a major East West transport link (Eenie Creek Road Stage 2) in April 2004
      for completion by December 2005. The project, valued at $26.2 million, is being funded under a 1998 agreement between the
      Department of Main Roads and Noosa Shire Council. Under the same agreement, a major North South link road (Walter Hay
      Drive) valued at $19.3 million is planned to commence in January 2005 for completion over 12 months. Council is also in the
      detailed design phase of Eenie Creek Road Stage 3 which will be funded and constructed by Council in calendar year 2005 at
      an estimated cost of $9 million;
•     The $11m Kawana Way Arterial Road is expected to be completed at the end of May. It will link Kawana Island and the
      Sunshine Motorway;
•     The State Government has committed $2.7m to upgrade the Maleny-Keilworth Road. The upgrade is due to start next month;
•     Caloundra City council has adopted a strategy to upgrade and introduce $34.3m of pathways and bike lanes over the next 30
      years;
•     Caloundra City Council has endorsed $3.4m worth of capital works for the development of sports grounds at Beerwah, Glass
      House Mountains, and Peachester;
•     Construction of CSIT's $8.3 million Noosa Arts and Environmental Tourism Centre is nearing completion with the first
      students expected in early October 2004. The project is jointly funded by the State and Commonwealth Governments;
•     A $1.4m upgrade and redesign has been approved for the Mary Cairncross Scenic Reserve near Maleny by the Caloundra City
      Council. It is hoped that some of the work could be funded by government grants, donations, or labour market programs;
•     A new $15m Slippy Downs Interchange was unveiled yesterday. It is planned to be completed in 2007; and
•     Woodford Correctional Centre will undergo a $3m expansion under an increased funding package for the States prisons.


COMMERCIAL DEVELOPMENTS
Recent commercial developments have included:

•     An apartment on Mooloolaba Esplanade has set a new record for the area with a sale of $1.4m by Waterfront Only;
•     The Battle between Noosa Council and T.M. Burke over a 60 ha coastal strip known as Marcus Shores has ended after a
      $2.5m settlement;
•     A block of units at Currimundi was sold for $3m to a Brisbane accountant. It was previously bought in 1998 for $500,000;
•     Work has begun on the $40m Rainbow Water Resort at Rainbow Beach. The developers are Pinnaroo Estate, and Sydney
      based company Buildcorp will undertake the construction;
•     Interstate and local property developers are trying to secure a slice of the planned Chancellor Park Town Centre which could
      return as much as $800m. Eight parcels of land between Slippy Downs Drive and the Sunshine Motorway already have sales
      contracts on them worth an estimated $40m; and
•     Last weekend the Mt Beerwah macadamia plantation was sold to a private Caboolture based company for $3.5m. It was
      previously owned by Como Plantations Pty Ltd.




©0, Sunshine Coast Regional Economy, Second Quarter 2004                                                                    - 30 -