Nearly 500 new homes are planned on a 33.1-hectare site in Palmview, Sunshine Coast, with completion projected over the next six years. This development aims to provide a mix of affordable and mid-range housing options, addressing the increasing demand in one of Queensland’s fastest-growing regions.
The land acquisition, finalized by property developer Peet, is valued at approximately $56 million excluding GST. Situated adjacent to Peet’s earlier project, Village Green, the new community will benefit from existing infrastructure, ensuring a smoother and faster construction process.
Strategic Expansion in Palmview
The Sunshine Coast has experienced significant population growth in recent years, prompting a surge in demand for housing. Recognizing this opportunity, Peet’s acquisition of the Palmview site is a strategic move. The land is located in a prime area, surrounded by natural beauty and with easy access to local amenities, schools, and transport hubs.
Brendan Gore, Managing Director and CEO of Peet, explained the logic behind the acquisition: “For us, buying adjoining land makes sense. Effectively, we’ve already got the infrastructure put in place, which has enabled us to get our development costs down and deliver more affordable-type housing.”
Building on the Success of Village Green
The proximity to Village Green offers unique advantages. Residents of the new development will benefit from established facilities, including parks, walking trails, and community spaces. These features not only save on development costs but also provide an attractive lifestyle for potential homeowners.
The new project will reflect the design ethos of Village Green, focusing on community building and sustainability. While offering similarities in layout and design, the Palmview development will introduce fresh elements to differentiate it as a standalone project while maintaining harmony with its predecessor.
Diverse Housing Options and Pricing
Peet plans to provide a “varying product mix”, including homes tailored to first-time buyers, families, and downsizers. Different lot sizes will accommodate a range of budgets, with pricing expected to mirror the affordability of Village Green. This strategy ensures the development is accessible to a broad demographic, from young professionals to retirees.
In addition to affordability, the company aims to set high standards for home quality. Peet will establish design guidelines to maintain aesthetic consistency across the development. They are also exploring partnerships with trusted builders to offer house-and-land packages that streamline the purchasing process for buyers.
A Collaborative Investment Approach
The Palmview project is backed by a partnership between Peet and Brown-Neaves Investments. The settlement is scheduled between June and September 2025, with development beginning shortly after in 2026. The construction timeline is projected at five years, with the first homes expected to be available by 2031.
The collaboration underscores Peet’s commitment to creating large-scale residential developments that address housing demand while delivering strong returns for investors.
Addressing Housing Shortages in Queensland
Queensland has faced growing challenges with housing availability and affordability as its population expands. Palmview’s strategic location within the Sunshine Coast places it in an ideal position to address these needs. With plans for nearly 500 dwellings, the development represents a significant contribution to local housing stock.
The Sunshine Coast Council has been supportive of developments that blend affordability with sustainable urban planning. Palmview’s integration with existing infrastructure and focus on community building align with regional goals of creating vibrant, well-connected neighborhoods.
