Artist impression of Mosaic Property Group's Cyan project at Kings Beach, scheduled to begin construction in February 2017.
Artist impression of Mosaic Property Group's Cyan project at Kings Beach, scheduled to begin construction in February 2017.

Build, sell, leave: Does development need to hit the brakes?

RESIDENTIAL development in Mooloolaba may need to hit the brakes, says Business and Tourism president Bruce Ferguson.

While change is "part of the natural progression of things" and some existing residential unit blocks were getting out of date and needed a refresh, a balance has to be met with the disruption development projects brought to businesses, he said.

If developer Mosaic Property Group proposes one of its five planned unit complexes in Mooloolaba, as it has indicated it may, the application should be considered "on its merits", Mr Ferguson said.

But there's growing concern among residents and some business owners of the short-term effects of construction on Mooloolaba's economy, which is still recovering from the Global Financial Crisis, he said.

"I think we've been in such a slump," he said. "Nobody's been interested in us.

"It's been very slow all around, and just for the existing ones (accommodation offerings) to keep interest up to make a dollar is hard."

He said people were wary of developers because the nature of their business was temporary.

"Everyone just feels like developers make their millions - they develop, they sell, then they go," he said.

He said Mooloolaba Business and Tourism wanted the business community to be united, informed, and take action together for or against developments in the best interests of the community as a whole.

"We're trying to set up a base where people can be informed properly about what's coming up and what's proposed."

Residents Association South Sunshine Coast president Ian Smyth said he thought the first of Mosaic's five developments, at Kings Beach, sounded positive.

He said more events were needed to attract people to the south of the Sunshine Coast, and he felt development such as this one made the area more attractive to visitors and prospective long-term residents.

"I think it'll bring more people to the area," he said. "I think we've got sufficient people to sustain it."

 

Why Sunshine Coast beats Gold Coast for development

UPDATE 1.30PM: DEVELOPERS have starry eyes for Sunshine Coast Mayor Mark Jamieson, if the views of Mosaic Property Group managing director Brook Monahan are anything to go by.

Artist impression of Mosaic Property Group's Cyan project at Kings Beach, scheduled to begin construction in February 2017.
Artist impression of Mosaic Property Group's Cyan project at Kings Beach, scheduled to begin construction in February 2017.

"The good thing about Jamieson is, he's young and he's fresh and he's really keen to see the Coast go ahead," Mr Monahan said.

Mr Monahan said Cr Jamieson was "a bit like Paul Pisasale (Ipwich City Mayor) - he really wants to get stuff going on the Coast".

Mr Monahan has announced his company's plan to build five boutique luxury apartment complexes at beachside Sunshine Coast suburbs between Caloundra and Maroochydore.

Construction of the first project approved by Sunshine Coast Council at Canberra Tce, Kings Beach, will begin in February next year.

Mr Monahan said the developments were intended to create 425 jobs, with Sunshine Coast subcontractors and job applicants prioritised.

Mosaic would set up an office in the area to manage this expansion, he said.

Mr Monahan said the Sunshine Coast had more going for it in the next three to five years than the Gold Coast, where he believed the residential development market would be flooded after the 2018 Commonwealth Games.

"I'm more excited about the Sunshine Coast than the Gold Coast," he said.

"I think the Commonwealth Games will be a risk - the post-Commonwealth Games hangover.

"You've got Grocon, for example, developing 1200 units for the (Games) village - and all that infrastructure will have to be absorbed by the local market."

He said the Sunshine Coast was a better market for investment because it had more money per capita being invested in infrastructure including the Sunshine Coast Airport expansion and Bruce Highway upgrade, which would see more people want to move there permanently.

Artist impression of Mosaic Property Group's Cyan project at Kings Beach, scheduled to begin construction in February 2017.
Artist impression of Mosaic Property Group's Cyan project at Kings Beach, scheduled to begin construction in February 2017.

A Sunshine Coast resident himself for a decade, Mr Monahan said our economy had turned a corner recently, after a long post-Global Financial Crisis struggle.

"It's been pretty poor on the Coast since the GFC. Infrastructures been slow, construction's been slow," he said.

"Now it's changing because of these game-changing projects.

"If you create jobs, people want to live here permanently." 

The Canberra Tce, Kings Beach development will be eight levels, and below the height limit set by the Sunshine Coast Planning Scheme, Mr Monahan said.

Residents Association South Sunshine Coast president Ian Smyth said he thought the first of Mosaic's five developments, at Kings Beach, sounded positive.

He said more events were needed to attract people to the south of the Sunshine Coast, and he felt development such as this one made the area more attractive to visitors and prospective long-term residents.

"I think it'll bring more people to the area," he said. "I think we've got sufficient people to sustain it."

 

JOBS BOOST: 425 new jobs to be up for grabs from new year

10.30AM: A BRISBANE-BASED developer says its decision to dive into the Sunshine Coast's development scene is set to deliver an economic boost of $162 million and an extra 425 full-time jobs.

Mosaic Property Group plans to roll out a pipeline of five projects across the Sunshine Coast over a two-year period from January 2017.

The move responds to what Mosaic sees as pent-up demand for quality residential product on the Sunshine Coast.

Beginning with a 31 apartment beachside project at Kings Beach in Caloundra, Mosaic's pipeline will deliver a total of 185 dwellings to the region.

An economic benefits analysis of the company's upcoming Sunshine Coast development projects carried out by Urban Economics reveals the projects' will create 425 full time jobs, representing $23 million of potential income to these workers.

Urban Economics estimates the total economic boost to the region at about $162 million.

The figure factors in demand for construction-related resources, materials and supplies and well as other products and services in the wider community.

Mosaic Property Group managing director Brook Monahan.
Mosaic Property Group managing director Brook Monahan. Mosaic Property Group

 

Mosaic Property Group managing director Brook Monahan said the company was keen to engage a local team of consultants and contractors to work on the projects.

"We are passionate about supporting local businesses and economies," Mr Monahan said.

"The Sunshine Coast's future is looking very bright and Mosaic looks forward to meeting escalating demand for quality residential product in the region."

Mr Monahan said Mosaic was planning to open a Sunshine Coast base for its local staff and to support its expansion in the region.

A number of ongoing benefits of the projects, post their construction, also were identified by Urban Economics.

Such benefits to the Sunshine Coast include the injection of quality residential dwellings that will add to the diversity of housing options available in the market, he said.

"The proposed residential projects will also contribute to the relative affordability of housing on the Sunshine Coast for local residents by providing great value, well designed and functional residential dwellings that will appeal to owner occupiers rather than just holiday makers."

Mosaic's expansion to the Sunshine Coast is the company's next move. The boutique developer has delivered 20 projects over the past three years, with a further 18 projects currently in the delivery, pre-construction and planning phase.


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