DevCore Property Group has announced it will fast-track the development of 1,200 new homes in its $1.1 billion Coral Cove Ocean Estate in Queensland’s Wide Bay-Burnett region, on the back of its successful application for trunk infrastructure under the Queensland Government’s Residential Activation Fund (RAF).
The RAF will fully fund the $22.2 million worth of trunk infrastructure required to unlock the Coral Cove Ocean Estate project, providing much-needed homes on the Bundaberg coast.
Located on Coral Cove Drive in Coral Cove, just 20 minutes from Bundaberg and 50 minutes from Hervey Bay, Coral Cove Ocean Estate spans over 220 hectares and sits at the southern tip of Queensland’s iconic Great Barrier Reef.
According to Paul Thompson, Managing Director at DevCore Property Group, the funding will deliver new homes for over 3,500 people two years faster than planned amid the on-going housing shortage.
“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.”
This faster timeline means construction of homes previously forecast for 2028 will now be possible in late 2026.
The Crisafulli Government’s landmark $2 billion RAF will see a total of 1,400 new homes (including 1,200 at Coral Cove Ocean Estate) unlocked along Bundaberg’s coastline, with the fast-tracking of three critical infrastructure projects.
It aims to support the delivery of 1,000,000 new homes by 2044, with at least 50 per cent of the overall funding to be invested in regional and remote Queensland.
The funded trunk infrastructure includes the widening of Coral Cove Drive, the new Coral Cove Collector Road linking Coral Cove Drive to Inness Park Road, lead-in trunk sewer and trunk water mains, and the upgrade of two regional roundabouts along Elliott Heads Road.
According to DevCore, the funding assists in continuing to deliver a diverse and more affordable range of housing with options for first home buyers, families, downsizers and retirees.
DevCore is currently partnering with home builders to offer house and land packages ranging 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. We will release the remaining 24 lots in the 72-lot stage before Christmas,” Thompson said.
The next release is scheduled for early October, with prices starting from $300,000.
Coral Cove Ocean Estate has been designed to integrate seamlessly with its coastal setting while providing modern, family-friendly living options for locals and sea-changers alike. The residential lots within the expansive estate boast stunning ocean views and lush natural surrounds, alongside access to an established 18-hole championship golf course, playgrounds, retail, dining options and pristine beaches.
The masterplan also comprises a brand-new future clubhouse and tavern, 2.5-hectare neighbourhood park, and proposed Village Centre.
DevCore has seven projects currently underway across Australia, set to deliver a combined total of over 5,000 homes alongside seven land-lease retirement villages and retail Village Centres over the next 10 years.
For more information on Coral Cove Ocean Estate, visit discovercoralcove.com.au.
