Breaking News Today – Brisbane
The city’s skyline is about to get a lot more exciting, with a $375 million residential tower set to be built in the city’s CBD. The project will include 264 residential units, a 25-metre swimming pool, an outdoor lounge cabana, and a fitness center. The development is expected to bring more than 1,000 new jobs to the region, helping it recover from the COVID-19-induced recession.
The development team behind the project has also secured a contract with the leading real estate group in Australia, Dexus, for the development of the Waterfront Brisbane project. This development is set to turn an existing site into a global-standard business district. Additionally, the project is expected to bring significant infrastructure and medical facilities to the area. As part of the project, the developers will partner with the Sydney Children’s Hospitals Network and the Minderoo Children’s Comprehensive Cancer Centre. The project is expected to be completed in late 2022.
The city is also preparing to welcome new major development projects, such as the $1.1 billion second runway at Brisbane International Airport. The state government is also in the process of lining up a bid for the 2032 Olympics. Meanwhile, the city is grappling with its apartment market, which has been stagnant for years. Fortunately, the city’s infrastructure and commercial sector are experiencing growth. As the city’s population continues to increase, development opportunities will become even more abundant.
The city has also launched a new economic development agency, Brisbane Development Circle. The agency aims to build a platform for the city’s development community. Anyone working in the development industry is invited to attend its bi-monthly events. In addition to providing a venue for meetings, it hosts a series of events. The agency also promotes the region internationally. This initiative aims to boost the economy by bringing new jobs to the city.
Brisbane is also investing in public transportation. There is a new metro station in the works, which will provide connectivity to the city. The project is expected to cost $450 million from the state and federal governments. It will connect downtown Brisbane with the riverside South Bank precinct, and will improve connectivity and housing availability.
A major new project in the north west of Brisbane is set to shake up a suburb. It will feature luxury apartments with rooftop recreational decks. The developers of this project, Ferny Grove Central, have selected a Perth-based builder, Broad Construction, for the project. Ferny Grove Central will feature shopping, entertainment, and residential amenities.
Another major project is the $2 billion Roma Street Cross River Rail precinct. This project will unlock underused land in the city center. The arena will feature retail shops, restaurants, and a multi-purpose arena with a capacity of 17,000-18,000 seats. It will also include a Sky Lounge, which will double as a function area when not in use.
The project has been a key part of the city’s development plans. It aims to create more dining and leisure options for the community and future office tower tenants. The project will also provide additional public realm and a thriving riverfront retail precinct. The project will take place in stages.
As the city continues to experience growth and development, there are many notable projects in the pipeline. The Royal International Exhibition Centre is a big undertaking that will serve the entire city. The new complex will feature a sky lounge and new retail opportunities along Roma Street. In addition, last month, the demolition of the former Brisbane Transit Centre began, clearing the way for the construction of the new Cross River Rail Roma Street station.
The Queen’s Wharf development is another large project underway. Five hotels are slated for the site. These include the Ritz-Carlton and Far East Consortium hotels, as well as two under the Star brand. The former Treasury Casino and Hotel will be converted into a high-end retail hub, complementing the Ritz-Carlton Hotel. The Landing, meanwhile, will feature landscaped gardens, terrace seating, and garden beds.
Another redevelopment site in the area is the Brisbane Baylands. This 660-acre parcel of land lies just south of the San Francisco border, and was previously used as a municipal landfill and rail yard. This has resulted in contaminated soil and stormwater runoff. The property has an unlimited potential for development, as well as an extensive range of commercial uses.
