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The first stage targets 19km dual track, new stations, and improved links for rapidly growing Sunshine Coast communities.
The project will feature 335 apartments ranging from studios to three-bedroom units within the 1,000-acre mixed-use Greenleigh development.
The approval allows the current 1980s office block to be replaced with a development rising to 16 and 20 storeys.
The five-storey, 155,500ft² residence hall will provide approximately 507 new beds in single and double rooms.