Maroochydore City Centre’s shovel ready CBD redevelopment is set for acceleration under a new agreement with Walker Corporation. The agreement with Sunshine Coast Council and SunCentral Maroochydore Pty Ltd (established to oversee the development) will see Walker Corporation invest $2.5 billion into the project.
The CBD redevelopment will deliver about 160,000 square metres of commercial and retail space and 4,000 residential apartments over the next 15 to 20 years.
“This is a once-in-a-generation transformational project for one of the fastest growing areas in the country,” Walker Corporation Executive Chairman Lang Walker said. “Maroochydore City Centre is Australia’s largest greenfield CBD development, and we look forward to delivering on Council’s vision for the project. Our capital cities will continue to be the economic powerhouse of
our country, but our regional CBDs will be where much of the future growth happens. Being brave and giving the economy a reboot right now – especially in regional CBDs – is what we need to shift the needle and drive economic growth.
“Maroochydore City Centre is going to transform the region into one of the most advanced economies in Australia.”
The Sunshine Coast is one of Australia’s fastest-developing economies, growing each year at rates well above national averages, and is expected to expand from $17 billion to $33 billion by 2033. The Sunshine Coast population is also set to overtake
the NSW Central Coast to become Australia’s ninth largest urban area and is projected to grow larger than the current populations of Canberra and Newcastle.
The project is planned to be integrated with public transport networks that will provide connections to the upgraded Sunshine Coast Airport and wider South East Queensland region.
The Queensland Government declared the site a Priority Development Area in 2013, which provides a streamlined planning, approval and development process under the State’s Economic Development Act 2012.