REVEALED: Massive $350m development to boost region

Residential project could house entire population of Oakey

A MASTERPLANNED $350 million residential community is set to provide a home for 4500 people, equal to the entire population of Oakey.

Waterlea Walloon was launched today and will include 1,500 homes across eight neighbourhood pockets once complete.

MASTER PLAN: An aerial view of the masterplan development.

Andrew Cook, who is the development manager, said the $1.5 billion expansion of Australia's largest air force base at Amberley had triggered a local property boom with the new $350 million masterplanned community set to capitalise on the nearly 2,000 new base staff and their families moving to the area.

"The rapid growth of the Ipswich area and the Air Force and the close proximity to the rail line made Walloon very appealing," he said.

"This plan has been about 10 years in the making and we're confident it will draw people in from far and wide."

Waterlea will have a district park for residents and visitors.

Mr Cook said the community, which is a 10 minute drive away from RAAF Base Amberley, would include a 2km cycle and hiking trail, parks and a retail space with an organic grocer, coffee shop and a licensed venue.

He also said the lot sizes were larger to cater to those looking for a rural lifestyle.

"In Ipswich the average lot size tends to be quite small so after hearing community feedback we decided to make ours larger," he said.

"The average lot size of our Stage 3 development is 680m2. We want to make Walloon a destination suburb for families."

The $3.5 million Walloon development will include a retail hub.

Brinton Keath from property services group Oliver Hume said family-focused developments like Waterlea were changing the face of Ipswich.

"We see this as one of the three big projects, Springfield, Ripley and Waterlea Walloon," he said.

"Sales are already strong and we've had $1.5 million worth of sales in the last two days.

"Blocks are going fast."

The first stage of Waterlea Walloon, consisting of 300 homes, will be complete by the end of next year, with the next 1200 lots to be rolled out over the next five years.

Waterlea is located on Rohl Rd, Walloon and is open for inspection daily from 10am-5pm.