This article is from the Australian Property Journal archive
LENDLEASE has unveiled a new $500 million residential community that will be home to more than 6,500 people in the fast-growing Moreton Bay Region.
The new community Kinma Valley, midway between Brisbane and the Sunshine Coast, is approved for up to 2,500 new homes alongside a 31-hectare central green corridor. There are plans for 12 parks, adventure playgrounds and more than six kilometres of walking and cycling paths, all interconnected with the central reserve.
A variety of new homes will be available, with Lendlease targeting first home buyers, young families, upgraders, and empty nesters. Lendlease says larger lots, distinctive building materials, innovative street design and casual neighbourhood meeting spaces will be features of the community, which will also include a convenience shopping and dining hub in addition to the shopping and other services in the area.
Lendlease has unveiled the community as Moreton Bay Regional Council continues its push to be reclassified as a “city”, with its population expected to surge to 750,000 over the next 20 years, exceeding previous forecasts of growing up to 690,000 by 2041.
The first lots at Kinma Valley are expected to be released “soon” with initial civil works expected to commence in the coming months.
“Our vision for Kinma Valley is to not only create a market leading sustainable community that meets the needs and aspirations of homebuyers but to build a sense of belonging and connection to our newest community,” Lendlease managing director, communities, Matthew Mears said.
“The natural aspects will be one of the biggest drawcards for home buyers with the development offering incredible views to the Glasshouse Mountains, family-friendly neighbourhoods and green open spaces.”
The name Kinma comes from the Kabi Kabi First Nation Peoples language which translates to “awake”.
Local groups and community members were part of the design consultation process.
Lendlease believes it has passed the COVID-created trough in both activity and profitability after it swung to a heavy first-half loss on the back of weaker development and construction earnings. Lot settlements were slashed to 504, which Lenrdlease expects to be a low, as communities EBIDTA fell from a $29 million profit to $6 million loss.
