MASTERPLANNED community Varsity Lakes will celebrate a decade as work begins on stage one of its latest stage in the $100 million mixed-use waterfront village South Bay.
South Bay represents the last waterfront village to be released by developer Delfin Lend Lease.
Varsity Lakes is now home to more than 8000 residents, 500 businesses and more than 5000 employees.
Senior project director Carl Bruhn, says the Varsity Lakes’ economy, currently placed at more than $600 million, is likely to surpass $1.5 billion on completion, resulting in a significant ongoing contribution to the regional economy.
“The consistent quality of Varsity Lakes has been ensured through benchmarking, covenants, stakeholder relationships, community connections and partnership with Gold Coast City Council,” he says.
“With Varsity Lakes now exceeding 5000 full-time jobs, this equates to an average of 527 full time onsite jobs per annum, likely to inflate to 767 jobs per annum by 2010.”
The Varsity central business and innovation precinct has attracted companies such as IBM, Minter Ellison, gotalk, AON Insurance and Gold Coast City Council engineering services division.
Upon completion, the project will comprise 4500 homes and up to 100,000sqm of commercial space in town centre Varsity Central.
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