Stockland on track for $600m development
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Property group Stockland has secured rezoning approvals for a residential development worth almost $600 million in the southern suburb of Banjup.
Stockland said today that the City of Cockburn had given the green light for rezoning to allow for the 145 hectare Calleya development to go ahead.
The development is set to bring 1,800 new homes to the area, located around 23 kilometres south of Perth's central business district.
Calleya is set to become Stockland's eighth major residential development in the Perth metropolitan area, with an estimated end value of almost $600 million.
"We're seeing very strong demand for new homes in key growth corridors north and south of the Perth CBD," Stockland WA general manager residential Col Dutton said.
"Calleya at Banjup is ideally located with excellent road and rail transport links and sits at the heart of an already thriving local community."
Stockland is Western Australia's second largest property developer with more than 18,000 lots across the state, according to Business News's Book of Lists.