Stockland today announced the acquisition of a 77-hectare residential development site, on extended terms, at 944-1024 Ripley Road, South Ripley, building on its presence in Ipswich and South East Queensland to meet much-needed demand for new housing.
The South Ripley site is zoned for residential use and is close to Stockland’s thriving Providence masterplanned community in the maturing Ripley Valley Priority Development Area. The new site will deliver approximately 1,100 homes as well as a State Primary School and community facilities.
Stockland CEO of Communities, Andrew Whitson, said: “We are excited about increasing our residential footprint with zoned land and the opportunity to build on the success of our Providence community, which has a very strong brand in the South East Queensland corridor.
“The acquisition follows more recent consolidations at Providence and aligns with our strategy to restock our masterplanned community pipeline with market-ready projects on capital efficient terms, in well-connected corridors close to transport, schools, jobs and infrastructure.
“South East Queensland remains significantly under supplied, and we expect the new community will be highly sought after by homebuyers who value quality masterplanned communities in attractive settings with community facilities and infrastructure on their doorstep,” said Mr Whitson.
Stockland’s General Manager of Queensland Communities, David Laner, said: “Stockland has almost $3.6 billion invested in Queensland, with masterplanned communities stretching from Townsville to the Gold Coast, including the multi award-winning city of Aura on the Sunshine Coast, the largest masterplanned community currently being developed in Australia.
“Future residents in South Ripley will benefit from a wide range of current and planned features at Stockland Providence, including the Providence Town Centre, the highly acclaimed Splash & Play facilities, District sporting and recreational grounds, schools and childcare, and a Satellite hospital.
“A diverse range of housing is proposed for the elevated site, which will offer future residents long views and the opportunity to build their dream home,” said Mr Laner.
Stockland will now progress planning for future development. Subject to approvals, Stockland will aim to start the project after site settlement in 2024.