Noosa luxury residential development Parkridge has secured new funding.
Noosa luxury residential development Parkridge has secured new funding.

$70m development to support Noosa’s economic recovery

With the government relying on a ‘construction led recovery’, Noosa’s last luxury residential development, Parkridge has secured new funding to move forward with its $70m final stage.

It’s a welcome boost for the local economy after COVID border lockdowns crippled regional tourism.

More than 200 local jobs will be created over the next 18 months as construction gets underway on the third and final stage of the $200 million development.

Receiving funding is a huge vote of confidence for Parkridge, which is being touted as the regions’ most prestigious residential development.

Parkridge Noosa is the brainchild of Altum Property Group, trusted local developers led by long-time residents Alex Rigby and Rob McCready.

Director of Development Rigby explains, “As locals, Parkridge is a passion project for us,” he said.

“We feel a huge sense of responsibility to do the site justice – the fact that it’s been so well received and we can create local job opportunities in such a tough employment market is something we’re really proud of.”

Since construction started in 2015, the Parkridge project has supported more than 450 local jobs and delivered more than 125 residential apartments within the luxury resort-style community – with more to come.

The last development site of its size in Noosa, Parkridge has cornered the premium residential market, with limited remaining opportunities to buy into the highly coveted enclave.

With its idyllic location – moments from vibrant Noosa, yet almost entirely enveloped by pristine National Park – Parkridge has captured the imagination of a range of buyers who appreciate the rare mix of luxury, lifestyle and leafy green surrounds.

Sales Director of 360 Property Group, Jeremy Gilmore says that with a high percentage of buyers locally based, the fact that the project is ‘homegrown’ really resonates.

“90 per cent of buyers have come from within 10km,” he said.