Riverstone estate rises with next stage due for completion
GLADSTONE Deputy Mayor Matt Burnett has called Riverstone Rise "more than just a collection of houses".
Speaking at the Boyne Island estate's official opening on Wednesday, he said Gladstone residents had eagerly anticipated the $1.4 billion development.
Riverstone Rise developers recently completed works on the estate's entrance, ornamental lakes, parks and landscaping.
Project director Grant Botica said stages two and three were completed, and construction of stage 4B's 50 lots would begin in October.
"We have sold over 220 lots now and 161 homes are either completed or under construction," he said.
The 10 to 15 year project began in April, 2012.
Mr Botica said their current construction schedule was fantastic considering having to deal with infrastructure issues, among others.
"We have about a 30% market share - which we have achieved sooner than expected."
Lot sizes range in size from 400sq m to 1100sq m and prices start from $189,000.
Devine managing director David Keir said Riverstone Rise was one of the most highly anticipated communities in Gladstone for years.
"Our strong sales are a clear reflection that Gladstone buyers are not just looking for properties that offer affordability; they are looking for a place with a great lifestyle too," he said.
Cr Burnett said the development would feature childcare, medical and retail centres, a primary school, walking and cycling tracks and facilities, to complement its 4.2km of river frontage.
"Riverstone Rise stands as a shining example of how well community developments can be done," he said.
Riverstone Rise developers bought the site from previous owners the Turich family.
"They were not about to sell this land without ensuring it resulted in an ongoing legacy for the area," Cr Burnett said.
When asked if he was concerned about the oversupply of housing in the region Cr Burnett said no.
"I think it's awesome - this has been coming for a long time."
Riverstone Rise is Gladstone's largest master-planned community, located on the Boyne River.
The community will be built on 496.6ha of land. Over 191ha of the site will be dedicated to reserves, open spaces, parklands and playgrounds.
Upon completion, Riverstone Rise will feature 2900 lots and be home to more than 7000 people.