The three-storey project is on the corner of Capestone Blvd and Napier Ave and will be called The Georgia.
Developed by the MT Property Group, the project consists of 17 two-and three-bedroom apartments and will be across the road from the future retail complex and childcare centre.
MT Property Group bought three sites at Capestone from developers Urbex and will build on them under guidance from Urbex.
Work on the second project will begin when The Georgia is completed next month. Its construction began in January.
MT Property Group director Michael Tsingolis said 11 apartments had already been sold.
“The people coming are those downsizing, travellers who can lock up and go away, some first-home buyers and, of course, savvy investors who see the continuing growth in the Capestone and North Lakes areas,” Mr Tsingolis said.
“With the shops and station being so close, people don’t need to have a car if they don’t want to.”
The Georgia is within walking distance to the Mango Hill East train station and some upper floors will have views over the proposed 13ha lake being built as a feature of the development. “It can’t be built out,” Mr Tsingolis added.
MT Property Group general manager Brad Fuller said the apartments had quality fit-outs with prices starting at $398,000.