[3] Towards the north of Flagstone is the Yugarabul traditional Indigenous Australian country of the Brisbane and surrounding regions.

On 24 April 1997, Flagstone was named by the Minister for Natural Resources as a neighbourhood within the Undullah and Jimboomba areas, though is now a bounded suburb and district in its own right, along with the Greater Flagstone district suburbs and developments of Flinders Lakes, Monarch Glen, Silverbark Ridge, Riverbend and Glenlogan.

Expected to take approximately 30–40 years to complete, the plan is for 50,000 dwellings to house a population of up to 120,000 people.

[12] The Village Shopping Centre, originally a simply corner store, was built as early as 2008.

[13] Another shopping centre built on the corner of Homestead and Wild Mint Drive contains: Coles, BWS, hairdressers, health services, Domino's Pizza, Supa IGA, 7-Eleven, Subway, McDonald's, and other specialty stores.

[17] Flagstone State Community College is a government secondary (7-12) school for boys and girls at Cnr Homestead Drive & Poinciana Drive (27°48′26″S 152°57′23″E / 27.8072°S 152.9563°E / -27.8072; 152.9563 (Flagstone State Community College)).