DevCore Property Group will accelerate construction at its $1.1 billion Coral Cove Ocean Estate in Queensland’s Wide Bay-Burnett region, fast-tracking the delivery of 1,200 new homes following the company’s successful application for trunk infrastructure funding under the Queensland government’s Residential Activation Fund (RAF).
The RAF will fully finance the $22.2 million in key infrastructure required to unlock the project, paving the way for much-needed housing on the Bundaberg coast.
Located on Coral Cove Drive in Coral Cove — just 20 minutes from Bundaberg and 50 minutes from Hervey Bay — the 220-hectare masterplanned estate sits at the southern gateway of the Great Barrier Reef.
According to Paul Thompson, Managing Director at DevCore Property Group, the funding brings forward home construction by two years, providing earlier housing relief for more than 3,500 people.
“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,” said Paul Thompson, Managing Director DevCore Property Group.
“Importantly, it accelerates the delivery of brand-new homes and brings forward the construction of the Estate’s trunk infrastructure, which will in turn accelerate delivery of community infrastructure — including the Neighbourhood Park, Retail Village Centre and upgrades to the Coral Cove Golf Course and Ocean Club.”
The revised timeline means homes previously slated for 2028 could now commence construction as early as late 2026.
The state government’s $2 billion RAF program will unlock a total of 1,400 new homes along the Bundaberg coastline, including Coral Cove Ocean Estate, through three fast-tracked infrastructure initiatives.
The program supports the delivery of one million new homes across Queensland by 2044, directing at least half of its funding to regional and remote areas.
Funded works at Coral Cove include the widening of Coral Cove Drive, a new Coral Cove Collector Road connecting to Inness Park Road, installation of lead-in trunk sewer and water mains, and upgrades to two regional roundabouts along Elliott Heads Road.
DevCore said the funding will help accelerate the rollout of diverse and affordable housing options for first home buyers, families, downsizers and retirees.
The developer is partnering with a range of home builders to offer house and land packages priced from under $700,000 up to $1 million.
“Sales within our two recent releases in the current Village Precinct have been strong, selling out in the last six weeks,” Thompson said.
“We will release the remaining 24 lots in the 72-lot stage before Christmas.”
The next land release is scheduled for early October.
Designed to integrate seamlessly with its coastal environment, Coral Cove Ocean Estate combines ocean-view residential lots with contemporary community amenities.
Plans include an 18-hole championship golf course, playgrounds, retail and dining outlets, and access to pristine beaches.
The masterplan also provides for a future clubhouse and tavern, a 2.5-hectare neighbourhood park, and a central Village Centre.
Across Australia, DevCore currently has seven projects underway, delivering more than 5,000 homes, seven land-lease retirement villages, and a series of retail Village Centres over the next decade.
