North Lakes’ new $140 million development to get underway
Queensland Treasurer Curtis Pitt today announced a new $140 million development will get underway at North Lakes at the start of next year.
Mr Pitt said Stage 2 of the of Westfield North Lakes’ redevelopment positioned the Moreton Bay Region to further build on the positive economic growth and jobs creation recorded this year.
“North Lakes Stage 2 will create approximately 3,000 jobs through the construction phase and another 500 in ongoing retail positions as part of the centre’s ongoing operations,” Mr Pitt said.
“It’s my privilege to be announcing a project that will deliver even more jobs and economic growth to North Lakes and broader the Moreton Bay region.
“By the end of next year this area will be transformed into a 113,000 square metre shopping mecca with 280 retailers an 8-Screen Events Cinema, IKEA and more.
“The Moreton Bay area is one of Queensland’s fastest growing regions and Westfield North Lakes has been a big part of this very positive story.
“The local unemployment rate is 5.8 per cent, well below the latest Queensland trend rate of 6.3 per cent – a figure we are constantly working to chip away at through our $1.6 billion jobs package.
“This includes a $40 million Business Development Fund to stimulate emerging industries and $240 millionSkilling Queenslanders for Work program which will support up to 32,000 Queenslanders back into jobs over the next four years.
“This is how we’ve created 43,800 jobs since the election as compared to the 310 full-time jobs lost every month while the LNP were in power.”
The Treasurer’s announcement comes on the eve of the completion of the first stage redevelopment of Westfield North Lakes, opening tomorrow.
Scentre Group Director of Development Stewart White said since opening in 2003, Westfield North Lakes has grown in tandem with the local community.
“Our investment to further develop the centre is a reflection of our commitment to this area,” Mr White said.
“We believe the completed centre will provide the people of Brisbane’s North with a superior facility that meets their every need.”
The combined investment from Scentre Group and DEXUS Wholesale Property Fund for Stage 1 and Stage 2 is $220 million.
More than 4,700 jobs in construction will have been created for works across Stage 1, Stage 2 and IKEA, with a total 900 jobs in retail, providing significant employment opportunities for Brisbane’s northern suburbs.
Source: News Release, Queensland Government, 25 November, 2015