First stage of Woree drive-in redevelopment starts near Cairns

THE first stage of a $175 million residential and commercial development on the former Woree drive-in site has started.

Work begins on the first stage of the Woree drive-in redevelopment with developer Jason Guarrera. Picture: Marc Mccormack

THE first stage of a $175 million residential and commercial development on the site of the former Woree drive-in theatre has started.

Property developer Jason Guarrera said Sunset Drive Inn Pty Ltd had begun building the initial phase of the commercial aspects, two 4000sq m lots fronting the Bruce Highway.

He said Kenfrost Homes were the main contractors with the $1 million job including site levelling, roading, kerb and channelling and underground services.

Mr Guarrera said the company was considering three options for the property: sell the vacant lots; design and construct the commercial buildings themselves; or get another party to.

He said the works would also provide the entrances for the residential component of the 6.27ha property.

Mr Guarrera said there were people interested in buying the vacant lots.

"We are also negotiating with parties that potentially will design and construct and hold for long-term lease," he said.

Mr Guarrera said the company was still compiling the documentation for consideration by the Cairns Regional Council for the proposed 520 units, apartments and townhouses to house more than 1000 people.

He said he was still not sure when the first part of the four-stage residential development would start.

"There is a feeling that the confidence is coming back," Mr Guarrera said.

"Cairns may well be on the cusp of better times. It is our intention to develop the residential component when the market is ready for it," he said.