Gladstone development: Updates for five stalled projects
A range of developments originally submitted to Gladstone Regional Council many years ago appear to be coming back into play now that things are picking up in the Port City. Full details here.
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Gladstone’s economy has been experiencing a recent renaissance after the boom and bust about a decade ago, with some stalled developments proposed during that time resurfacing.
The Calliope Vista Estate development on Trudy Avenue was originally submitted so long ago that it was lodged with the former Calliope Shire Council on April 15, 2008.
The project will consist of about 25 new residential blocks developed off streets stemming from Trudy Avenue.
Applicant Mhm Opal Exports Pty Ltd lodged a fresh application with Gladstone Regional Council recently and received an extension to its currency period for the project on September 9.
There are also plans for unit blocks in Gladstone’s inner suburbs including at 15 Kent Street, which is currently a vacant parcel of land.
The three-storey proposal will include 18 units and carparking underneath the building.
It was originally submitted on August 22, 2012.
After a recent application from the developer was lodged with Gladstone Regional Council, the currency period for the Kent Street development was extended on September 8, 2021.
A proposal for an 11-unit complex on 7 Alisa Street at West Gladstone has also had an extension to its currency period.
Development applications for the project were originally submitted on July 2, 2013 and an extension of the currency period was granted on September 8, 2021.
The currency period for this development was extended to September 20, 2025.
And it is not just stalled housing projects that are being reconsidered - service stations and childcare centre proposals are being revived.
A childcare centre on Victoria Avenue at Glen Eden was originally proposed on August 5, 2014 and was granted an extension to its currency period on September 23, 2021.
The ‘Gecko Valley’ childcare is being developed by Glenlyon Developments.
The currency period was extended to February 26, 2027.
Plans for a service station on the corner of Calliope River Road and the Bruce Highway were originally submitted on February 14, 2013 and had on March 2, 2021 the project had its currency period extended to February 26, 2023.
The plans show the servo will include bus parking, a truck stop, three food joints, a grocery store, a playground and some green space.
REIQ zone chair for Gladstone, Alicia Williams, said the supply and demand, and market conditions had changed significantly since the boom and bust a decade ago.
“I feel that Gladstone compared to then, [developers have] certainly learned some lessons around planning and development and plenty of opportunities to get into the homeowner market,” she said.
She said that during the boom, it was LNG driving the property market but now it is driven by long-term, sustainable growth.
People want to settle down in their dream homes and inner-city residents are now calling the regions their home.
Ms Williams said coastal house prices in the region were about $450,000 to $500,000 and parcels of land for building houses were about $250,000 to $300,000.
She said the rental market was tight even before Covid and there was about a 1 per cent vacancy rate for a period of six months, but that had since jumped to 2 per cent. A rental vacancy rate of 3 per cent is considered normal.
“Overall it seems fairly stable I would say and heading in a positive recovery trend,” she said.
As to which suburbs will experience the most growth, Ms Williams said it was hard to say and would depend on people’s personal preferences.
“It’s an exciting time for Gladstone.”
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