Sovereign Islands developer Lewis Land Group has stepped up the pace on a new flagship Gold Coast development, the $1.5 billion Harbour Shores master-planned community adjacent to its Harbour Town precinct, amid an ongoing housing shortage in the city.
The Sydney-based developer has lodged a development application for the second stage of the Biggera Waters development which is earmarked for a long dormant 15.7ha canal-front site that the company has owned since the 1970s.
After announcing plans for Harbour Shores in February this year, a development it plans to deliver in six stages over the next decade, Lewis Land has just lodged an application for stage two, ahead of approvals being granted for stage one.
The move comes in the wake of ongoing housing supply issues on the Gold Coast where residential vacancies in the March quarter stood at 0.4 per cent, down on the 0.6 per cent recorded for most of last year.
The Harbour Shores master plan comprises a total of 30 buildings that will ultimately deliver more than 2,000 apartments, villas and penthouses to accommodate a resident population of more than 4,500.
The second-stage plans consist of three 12-storey apartment buildings totalling 230 apartments that will be set amongst lush landscaping and recreation spaces at the north-eastern end of the Harbour Shores South Precinct.
The stage-two towers will deliver food and convenience outlets alongside the adjoining sales office and commercial building that Lewis Land says will activate the interface with the boardwalk and feature parkland - announced in the first stage of the development. Two of the apartment towers will feature rooftop pools and dining areas, while the third will have a ground-level pool, an outdoor entertaining space and barbecue facilities.
Stage two of Harbour Shores will deliver a mix of two, three and four-bedroom apartments that Lewis Land says will meet the needs of a broad range of buyers.
Harbour Shores has been pitched as a development that will cater for a diverse demographic including couples, families and retirees. The master plan is centred on 1.5km of canal frontage that will be readily accessed by residents via the public boardwalk and through the extensive parklands.
Harbour Shores will offer a resort-style gated community that will provide residents exclusive access to a range of amenities including swimming pools, tennis court and clubhouse facilities.
The Harbour Shores site extends Lewis Land’s decades-long investment in the Biggera Waters precinct where it developed the Harbour Town Premium Outlets centre and the Harbour Quays residential project in the 1990s. Lewis Land retains a 50 per cent interest in Harbour Town after Vicinity Centres (ASX: VCX) snared the balance from Lendlease’s (ASX: LLC) Australian Prime Property Fund for $358 million last year.
Over the past 40 years Lewis Land Group has developed more than 2,600 lots across eight residential developments on the Gold Coast, including Sovereign Islands and Ephraim Island.
Lewis Land CEO Matthew McCarron says Harbour Shores will generate up to 5,000 jobs over the life of the development which is also seeking to gain 5-star Green Star certification.
Construction of the first stage is planned to begin by the end of this year, pending council approvals.
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