Stockland will build more than 150 dwellings north of Perth as part of a recently approved $75 million residential project.
Stockland will build more than 150 dwellings north of Perth as part of a recently approved $75 million residential project.
The Metro Outer Development Assessment Panel today unanimously approved Stockland’s proposal to build an independent living complex on a 6.9-hectare site in Sinagra.
To be named Stockland Halcyon Illyarrie and estimated to cost $75 million to build, the complex comprises 153 dwellings and a clubhouse with communal facilities.
Business News understands construction of the first homes at the Stockland Halcyon Illyarrie is expected to start early next year.
The complex is targeted for those aged over 55, who will occupy the residential dwellings under a land-lease model.
Under Stockland's land-lease model, homes are sold to owner-occupiers at a discount to the homeowners' existing house price, which would allow downsizers to release equity from their family home.
City of Wanneroo councillor and DAP member Jacquie Hutley said the complex would benefit residents in the city aiming to downsize or retire.
"It is very needed in this area, obviously with East Wanneroo now kicking off," she said at the DAP meeting.
"People are going to have to move out to the rural properties, a lot of them will downsize and this is an ideal advantage to be still within the same area or close."
DAP deputy presiding member Eugene Koltasz said the development was much needed in the locality.
The project site on 1040 Wanneroo Road once housed an Inghams chicken factory that recently stopped production.
After the meeting, Stockland communities project director Andrew Wallis said the Halcyon Illyarrie complex would add more homes in the growing northern corridor.
“We’re pleased to have received unanimous approval for the development of Halcyon Illyarrie, Stockland’s second land lease community in Western Australia," he said.
“Following the successful launch of Halcyon Wildflower, Western Australians have demonstrated strong interest in the land lease model, which provides high-quality homes and a premium lifestyle for both downsizers and right-sizers.”
Stockland received development approval for its first land lease community in Western Australia, Halcyon Wildflower in Piara Waters, in January.
