Flagstone signs historic $1.2 billion infrastructure deal
Peet has led an historic infrastructure agreement that will fund more than $1.2 billion of essential services for the Greater Flagstone Priority Development Area, in Queensland.
The infrastructure deal is the biggest of its kind in Australia’s history and will secure the infrastructure needs of the Greater Flagstone community for the next 45 years.
It is the culmination of years of negotiation between the Queensland State Government, City of Logan and nine regional developers.
The arrangement was spearheaded by Peet’s Flagstone development which is the biggest and most advanced in the region. The multi-billion dollar development by Peet and its joint venture partner MTAA Super, is one of the most ambitious master planned communities in Australia. It covers more than 20% of the Greater Flagstone PDA and will deliver 12,000 new homes along with regional facilities including the main city centre.
Announcing the agreement, Queensland Minister for State Development, Manufacturing, Planning and Infrastructure Cameron Dick said the funding deal would ensure high-quality infrastructure was available to support the growing community, encourage appropriate development, and provide landowners and developers with certainty.
Minister Cameron Dick announced the $1.2 billion agreement to VIPs and the media in Flagstone’s $4m regional park.
The funds will guarantee that roads, water supply and wastewater infrastructure will be delivered to connect the emerging community with surrounding networks. Some 170 kilometres of council roads will be upgraded.
Over the next six years, $400 million will be spent and more than 130 construction jobs created each year.
Early infrastructure investment has been a catalyst for Flagstone’s success. Since development began in 2016, Peet has delivered some of the most affordable and innovative house and land packages in South East Queensland and more than 500 lots have been sold.
A highlight is the record-breaking parks which have attracted statewide attention, drawing thousands of visitors to the new region and promoting a sense of local identity and pride. Facilities include one of the State’s biggest adventure playgrounds, the first community dog park with waterplay and the largest Pirate Ship park in the southern hemisphere.