A $1.1 billion development on Bundaberg’s coast is seeing the fast-tracked development of 1,200 new homes for residents: with homes expected to be built in 2028 now possible two years sooner.
DevCore Property Group has received assistance for trunk infrastructure on their Coral Cove Ocean Estate development, under the Queensland Government’s Residential Activation Fund (RAF).
The masterplanned community will eventually feature 1,200 homes, two retirement villages and a mixed use precinct, allowing more than 3,500 people to live in the new hotspot.
Coral Cove Ocean Estate in the Wide Bay-Burnett region is a $1.1 billion project from DevCore Property Group, with a $22m infrastructure grant from the Queensland Government.
The $22 million from the RAF will go to building connecting roads and roundabouts in and around the project, along with trunk infrastructure such as sewers and water mains for the area’s expanding population.
DevCore Property Group managing director Paul Thompson said the fund would allow the construction of homes years faster than anticipated, with homes planned for a 2028 build now expected for late 2026.
“When the RAF was announced, it was very good timing for us to put an application, mainly because we had our approvals in place,” he said. “We were well advanced enough to know what infrastructure was needed to unlock a new batch of housing … we’d be able to bring forward a lot more housing over a 2-3 year period than what we [usually] do.”
Unlocked land lots expected for 2028 will now be slated for 2026, thanks to the grant allowing the faster production of key roads and water systems.
DevCore’s partnerships with home builders in the Bundaberg region are offering house and land packages between $700,000 and $1m for residents. The latest release within the current Village Precinct is for 72 lots, with land prices beginning at $300,000.
“It is great to see the Queensland Government backing the property development sector and making a tangible effort to unlock new housing in our regions,” Mr Thompson said.
He added much of the infrastructure the team would build with the RAF would have normally taken up to seven years, but was now expected to be done within two years.
“We believe over a five-year period, we can be delivering in excess of 700 homes”, he said.
“There’s very strong demand for new diverse housing in the region, and normally without this funding we’d probably have to stop for a while to keep up with the trunk infrastructure … now we’ll be able to continually release land for sale.”
A Display Home located at 2 Sarazen St, Coral Cove. Land prices in the latest release begin at $300,000, with $700,000 to $1m for house and land packages.
Renders of a Cuttsia facade home in the estate. New purchasers are expected to move into new homes in 2027, with more than 700 homes planned within the next five years.
Mr Thompson said the fund would not only mean a faster build time for new homes, but would allow the team to build more pieces of social infrastructure within the next three years.
Planned infrastructure across the project includes a 2.5 hectare park and a village centre, along with access to an established championship golf course and an upgrade of its boutique ‘Ocean Club’.
Homes are available to buy now, with a typical nine-month construction time expected for each house. Residents buying into the area today will be able to begin construction in 2026, and will be able to move in around midway through 2027.
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