Oaky Bay Apartments - 4 Oaky Creek Road, Coomera

Oaky Bay Apartments

The longtime local South East Queensland home builder turned apartment developer Choice Homes has broken ground at its $100 million Coomera apartment complex, Oakey Bay.

FKG Group is constructing the first stage of the three-tower&nbsp;project within the Coomera Marine Precinct, which will see 54 apartments created in Riverside Tower. Around 90 per cent of stage one are under contract, from a mix of local and interstate buyers.

The build will take place across three stages, creating over 167 apartments upon completion, along with providing a boost for employment in the region for trades, supplier and local businesses for the projected, next three to four years.

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Completion has been slated for mid-2023 for the first tower, with remaining apartments priced from $527,000.

Choice Homes Group Director&nbsp;Troy Knight&nbsp;says the company had engaged with several builders in a selection process, which eventually identified FKG as the ideal contractor to meet the demand for housing in the northern end of the Coast.

&ldquo;Choice has extensive experience building smaller-scale apartment projects, which have won awards, but thought it best to engage a well-reputed leading contractor for something of this size as it will be the largest in the area,&rdquo; Knight says.

&ldquo;FKG have a long history in the industry and are known for delivering outstanding building and engineering projects across Queensland, NSW, and the Northern Territory, so are well equipped to deliver what we&rsquo;re after.&quot;

[smartcode_project:default project_id=108412 project_image_fid=201805]

Oakey Bay will comprise a mix of two and three-bedroom apartments, averaging 110 sqm in size, set amid a resort-style environment which will home two pools, a tennis court, barbecue facilities, and a gym.

According to a recent report by Urbis, demand for homes, including high-density accommodation, has outstripped the existing property market.

The report identified a shortage of land has led to a surge in apartment sales across the Gold Coast - of up to 97 per cent in 2021 &ndash; reinforcing the decision for the developers on the location and timing of the project.

The family-owned developers won&nbsp;the 2018 Housing Industry Association Apartment Complex&nbsp;of the Year Award for its 101 Pohlman Street development in Southport.

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Following strong pre-sales, the three-tower project within the Coomera Marine Precinct, is set to offer a suite of boutique residences and amenities in the burgeoning Northern Gold Coast region.



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