The Sunshine Coast is surging forward on a wave of once-in-a-lifetime major urban infrastructure investment. Already delivering dividends from billions of dollars in capital expenditure and the creation of thousands of jobs, the timing is right and astute investors are poised to reap extraordinary rewards.
It is a defining moment for the Sunshine Coast, as the winds of change pick up momentum and new investment pours into this major urban centre. The three (3) largest projects forecast a total capital expenditure estimated to be over $7 billion bringing around 40,000 jobs with them. The Sunshine Coast is Australia's fourth largest non-capital city. Its population currently numbers 319,094*, an increase of 27% since 2006, equal to more than 7,000 new residents annually. Just in the last ten years, the Sunshine Coast economy has doubled in size, with 34,000 businesses driving a Gross Regional Product that's estimated in excess of $10 billion.
The Sunshine Coast's regional growth has traditionally been fuelled by a number of key drivers including:
These factors are still in place and now supplemented by powerful new economic catalysts:
1. THE $4BILLION MAROOCHYDORE PRINCIPAL ACTIVITY CENTRE
The Maroochy City Centre Plan defines Maroochydore as the key regional centre of the Sunshine Coast. It's the framework to guide the city's growth and has now seen new investment and infrastructure become part of the landscape to meet the challenges of the rising population tide. Key Components include: 150,000m2 of commercial floor space, 65,000m2 of new retails floor space, new Regional Arts and Entertainment Centre, Transit Plaza, Library, Public Amphitheatre, Civic Plaza
2. HORTON PARK CBD EXPANSION
Council's $42million acquisition of the Horton Golf Club paves the way to create a forward thinking commercial, retails and public space adjacent to Sunshine Plaza and is expected to commence in mid 2014. "This project has the potential to create thousands of jobs.....Maroochydore will be home to many new jobs and businesses that will provide a much needed boost to our economy" - Mayor Mark Jamieson, Sunshine Coast
3. SUNSHINE PLAZA EXTENSION
This is the Sunshine Coast's largest Shopping Centre. A planned $350 million expansion includes the new David Jones Department Store and the expansion of the existing Myer store plus additional retail space. This work is expected to create 1,350 new permanent jobs, and is planned to commence in 2014.
4. MAROOCHYDORE TRANSIT CENTRE AND MAROOCHY BOULEVARD PRECINCT
The $47 million transport interchange is one of the region's most important transport infrastructure initiatives.
Maroochy Homemaker Centre: this new $110 million commercial development is now open with 36,000m2 of retail showrooms featuring a number of national retailers. Residential Developments: the area is set to grow in demand and value as 6,000 residents are projected to move in the next 5 years.
Premium Automotive Showrooms: a number of premium brands have chosen Maroochy Boulevarde as the location of their flagship dealerships - testament of their vision for the future.
5. $3 BILLION SUNSHINE COAST UNIVERSITY HOSPITAL PRECINCT
The SCUH the centrepiece of a new world-class health precinct in Kawana. The SCUH precinct is one of the largest greenfield integrated health care projects ever under taken in Australia. For at least the next five years this precinct will generate an average capital expenditure of a staggering $1.5million per day. When complete the SCUH will inject an estimated $700million annually into the regional economy. The total precinct will generate 22,000 permanent jobs and more than 12,000 construction workers.
6. SUNSHINE COAST AIRPORT EXPANSION - SET FOR TAKE OFF
A massive $419million upgrade is planned for the airport which will expand both the passenger and freight capacity. This will lead to expansion of both domestic and international markets. Estimated to begin in 2015.