Major multi-residential development for CBD
THE transformation of the Maroochydore CBD took another step this week with the start of construction on the $106m multi-residential riverfront development Avalon by Mosaic.
Officially launched in late 2018, Avalon has already realised over $67m in sales, with strong on-going interest from local and interstate buyers.
Mosaic Property Group founder Brook Monahan and co-founder Dave Handley were joined by Sunshine Coast Mayor Mark Jamieson and Cr Jason O'Pray at an official turning of the sod ceremony.
The development on Duporth Avenue comprises 86 apartments across two boutique luxury buildings, along with a range of six-star amenity including a ground-floor artisan café, extensive health and wellness facilities, private pontoon access, resort pool and an exclusive concierge service.
On the site that was previously home to the formative Australian architect James Birrell, Avalon boasts a prime, north-east facing position directly on the shores of the Maroochy River.
Mr Monahan said the event marks a watershed moment for Mosaic, being the Group's fourth development on the Sunshine Coast, and first for Maroochydore.
"This is a proud and significant moment for us, being years in the making and positioned on such a historically significant site. We have worked exceptionally hard to ensure Avalon is a legacy development for Maroochydore and indeed the region."
"Over 70% of Avalon has now been sold, an incredible result at this stage of the project. Its high-end residential appeal, six-star amenity, and an incredible location have been extremely attractive to purchasers - whom we would like to thank for helping us realise this achievement."
Mr Monahan added that Avalon will create significant employment opportunity and drive economic growth for the area.
"Avalon will deliver over 500 jobs over the course of construction and we are committed to ensuring that at least 80% of trades are sourced from the region."
Guest of honour, Mayor Mark Jamieson said it was great to be on site and see the project well underway.
"Developments such as Avalon are a great benefit to our community and support the strong vision we have for the Maroochydore and the Sunshine Coast as a true, world-class destination."
"For a project of this magnitude and complexity to get to this stage is the result of an enormous amount of work and I share the passion and the genuine excitement of Mosaic in turning this vision into a reality."
"I congratulate Mosaic on their on-going commitment to the Sunshine Coast and also to the buyers who have chosen this benchmark development - I and look forward to seeing it come to life."
Limited opportunities remain, with recent new apartment type releases within the building, including two-bedroom apartments starting from $560,000 and three-bedroom from $922,500. Mosaic expects the market to respond very quickly to this remaining offering over the next few months.
Avalon by Mosaic is due for completion in early 2021.