A LOCAL property boom has been triggered by the $1.5 billion expansion of Australia’s largest air force base at Amberley near Ipswich.
A new $350 million masterplanned Waterlea community is set to capitalise on the nearly 2000 new base staff and their families moving to the area.
On completion, the Waterlea community will comprise of 1500 homes across eight neighbourhood pockets with a population of about 4500.
Each community pocket will be connected by parks, hiking and bike trails, with community areas for concerts and vast green spaces all available for residents to enjoy.
Stage 2 is being fast tracked after the sellout of nearly 100 lots in stage 1 in less than eight weeks, with sales to date of more than $15 million.
New lots range in size from 411sq m to 800sq m starting at $153,000.
Waterlea is expected to make a major contribution to satisfying demand for new homes in the area with Ipswich’s current population of 190,000 projected to increase to 435,000 by 2031.
Waterlea Development Manager Andrew Cook said the project would set a new benchmark for residential living in Ipswich.
“Being so close to the Amberley Air Base and with the massive investment in new facilities and people there, we are confident there will be plenty of demand for many years to come,” he said.
“We’ve specifically designed Waterlea to facilitate a cohesive and modern community where people feel at home, enriched and welcome, and where community and amenity grow hand in love over time.”
Ipswich Mayor Paul Pisasale said the number of people working at Amberley would increase from 5250 to more than 7000 by 2019.
“This new estate is ideally positioned to capitalise on an increase in the workforce at Amberley as well as growth across the wider Ipswich region,” Mr Pisasale said.
“Ipswich is one of the fastest growing areas in Australia and currently home to more than 196,000 people with the city’s population expected to reach 520,000 by 2041.
Mr Pisasale said Waterlea estate at Walloon would strongly benefit those who work and serve at RAAF Amberley.
“The men and women who serve at RAAF Amberley are a vital part of the Ipswich community and this presents an opportunity for them to access quality, affordable housing close to the base.”
The project provides high-quality residential offerings on large blocks, with plenty of open space and recreational facilities, as well as public access to the waterfront cafe overlooking water.
Waterlea joint project director Adam Kaye said he was proud to be part of such a community-driven development.
“We immediately recognised the significance of Waterlea, and the opportunity to set a new benchmark for affordable community living in the West. IDA Property Group is proud to be a partner in delivering such a high quality residential offering and participating in the wave of economic activity emerging within the Ipswich municipality,” Mr Kaye said.
Originally Published: http://www.realestate.com.au/