The International Olympic Committee's decision to elevate Brisbane to preferred city status for the 2032 games will bolster investment potential for Maroochydore’s new city centre and the broader south east Queensland region.
Walker Corporation’s newly appointed Project Director of the Maroochydore City Centre transformation Murray McCarthy said the 2032 Summer Games announcement presents a tremendous opportunity for the Sunshine Coast.
“When the biggest show on earth comes to Queensland there is huge potential to secure new investment in infrastructure which responds to the needs of the region and connects to the Maroochydore CBD,” Mr McCarthy said.
“As athletes go for gold, these events will put the Sunshine Coast on the map, increasing long term investment opportunities into the Maroochydore City Centre.”
The partnership between Walker Corporation, Sunshine Coast Council and SunCentral Maroochydore will see Walker invest $2.5 billion and deliver up to 160,000 square metres of commercial and retail space and approximately 4000 residential apartments in the new CBD.
Walker’s appointment of Mr McCarthy as Project Director comes as the company pushes ahead with development works and establishes a Sunshine Coast office in the first commercial building in the Maroochydore CBD, Foundation Place.
Mr McCarthy has held senior positions at major property developers in the UK and Australia.
“I’m thrilled to be part of this once-in-a-generation $4.4 billion project and to be back in Queensland, making a home on the magnificent Sunshine Coast with my family,” Mr McCarthy said.
The 53-hectare city centre, which is a Queensland Government designated Priority Development Area, is expected to create more than 15,000 jobs over the life of the project.
The Walker Corporation team, in partnership with Sunshine Coast Council and SunCentral Maroochydore will be scoping out plans in the northern and southern areas of the site for mixed-use development.
The Sunshine Coast is one of Australia’s fastest-developing economies, growing each year at rates well above national averages and is expected to expand from $17 billion to $33 billion by 2033.
The Sunshine Coast population is also set to overtake the NSW Central Coast to become Australia’s ninth largest urban area and is projected to grow larger than the current populations of Canberra and Newcastle.
The Queensland Government declared the site a Priority Development Area in 2013, which provides a streamlined planning, approval and development process under the State’s Economic Development Act 2012.