The Greater Flagstone Priority Development Area (PDA) is about to take a major step forward, with developer Mirvac receiving State Government approval for a new 481 hectare residential community in Greenbank.

Mirvac Queensland Residential General Manager, Warwick Bible, said the new community, which is yet to be named, is located 30 kilometres south west of the Brisbane CBD, within the State Government declared PDA, which is planned to play a major role in accommodating growth in south east Queensland.

The approval gives the green light for Mirvac's overall project masterplan, comprising approximately 3,300 residential homesites and community facilities including a state primary school, which will cater for up to 1,000 students, a neighbourhood retail centre and community health centre.

"Greenbank is at the centre of one of the highest growth regions in South East Queensland," Mr Bible said.

"It is a very appealing location for a new community because it is surrounded by existing infrastructure and amenity."

Mr Bible said the new community would have a 'green heart' with 25 per cent of the site dedicated to open space. "At the same time as delivering new amenities to the region, we are also focused on protecting existing natural assets," he said.

"The community will include an 85-hectare conservation parkland, which will be linked to existing Logan City Council-owned conservation land via extended walking trails, approximately 25 hectares of regional sports and recreation parks and a series of neighbourhood and linear parks."

Mr Bible said, along with approval for the overall masterplan, Mirvac had received subdivision approval for the first 508 homesites, which are expected to be released in stages from early next year in-line with the start of early works on site.

He said the new community would introduce a broader range of new housing options to the region.

"The mix of homesites on offer will provide opportunities for everyone from first home buyers and mature-aged locals looking to downsize to an affordable low-maintenance home, through to families looking for more living space," Mr Bible said.

"We are yet to finalise the pricing and lot sizes for the first stage, however we encourage prospective purchasers to visit our project website, greenbank.mirvac.com, and subscribe to our database to be among the first to know when more details become available.

“Our project website also includes a masterplan, development fact sheet and community information storyboards.

"We have already been taking a number of enquiries each week from prospective purchasers and local residents eager to know more about the development."

Urbis director Paul Riga says Greenbank is a region which is expected to experience high demand for housing over the coming years.

"The new house market across South East Queensland is currently experiencing strong levels of demand, with particular interest in areas like Greenbank that are well-serviced and connected to amenity and employment nodes," he said.

"Given the growth targets from the Shaping SEQ Draft Regional Plan, the development of our growth corridors is imperative to meet the current and future needs of our population.

"The southern growth corridor is one of Greater Brisbane’s fastest growing precincts, with significant purchaser and developer activity at present.

"A development like Mirvac's planned Greenbank community is significant – it will offer a diversity of product and price points for buyers, as well as provide investment in infrastructure and substantial economic benefits to the local economy."

The new community is located to the north east of the Teviot Road and Greenbank Road intersection in Greenbank.

For more information, please visit greenbank.mirvac.com For further information please contact: Sheree De Bono or Tanya Waite at Promedia on +61 7 5593 2011