Habitat Development Group’s $83 million mixed-use development has been given the green light by Economic Development Queensland (EDQ) with work expected to start on the project in February 2020.
The proposal is for two residential towers and six Small Office-Home Office (SOHO) townhouses to be built on a 4158sq m parcel of land in the new CBD.
Habitat Development Group Managing Director Cleighton Clark said the three-storey SOHOs introduced a new form of mixed commercial-residential property never seen before on the Sunshine Coast.
“The interest in the SOHOs has been quite incredible,” he said.
“Even before we received approval for the project, we had numerous inquiries from potential buyers about the town homes.
“The Sunshine Coast has been called the entrepreneurship capital of Australia because there are more than 35,000 small businesses across the region.
“The SOHOs have clearly hit the mark for this sector, providing a perfect combination of work and home in one property.”
The Sunshine Coast out-performed Brisbane in the growth of new small businesses in 2018, according to the Australian Bureau of Statistics.
The number of new small businesses on the Sunshine Coast increased 2.5 per cent – more than double the growth in Brisbane (1 per cent).
Each SOHO will have non-residential space downstairs, with street frontage, which can be used for an office, shop, food and drink outlet or other kind of business.
A mezzanine level could be used for administrative or operational parts of a business such as staff spaces, electronic equipment or private offices while upstairs could be residential.
The SOHOs are designed to have the efficiency of an office with the comfort of a home.
Habitat Development Group’s project is the first approved residential development in the new Maroochydore CBD. It will also include 152 units across two towers.
For residential buyers, the towers would be a 10-minute walk to the beach and even closer to Sunshine Plaza Shopping Centre.
SunCentral Maroochydore Chief Executive Officer John Knaggs said the Habitat Development Group project showcased the type of urban design and innovation the new CBD would deliver.
“Habitat Development Group recognised early on the Maroochydore city centre will be a place that people will want to live and work,” he said.
“I expect demand from owner occupiers and investors to be strong, not just for the SOHOs but the residential apartments and the retail space at the base of the towers as well.”
Mr Knaggs said work started last month on the first building in the 53-hectare city centre site, with Evans Long starting construction on its eight-storey Foundation Place office building.
“People can now really start to see the new city centre taking shape,” he said.