Yeerongpilly gets riverside facelift
Brisbane’s riverside is set for a facelift, with Queensland developer Don O’Rorke unveiling a $850 million urban regeneration master plan for the area.
O’Rorke, managing director of Consolidated Properties, will partner CVS Lane Capital Partners to develop the project, to be located 5km south west of the CBD at Yeerongpilly.
The “Yeerongpilly Green” master plan promises a mix of riverside residences, retail and dining experiences and 1.8 hectares of parkland, which Mr O’Rorke has touted as South Brisbane’s newest cultural village.
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O’Rorke says he is looking to focus on regeneration rather than adding to the urban sprawl.
“After 40 years in development, it is my view that we need to be enriching amenities and social infrastructure through redevelopment in our existing communities, rather than contributing to suburban sprawl,” O’Rorke says.
“In many ways, Yeerongpilly Green is the missing piece of the puzzle along the southwestern riverbank, and our vision is to create a place not only for residents but also the wider community, with plans already in the pipeline to use the community’s 1.8 hectares of green space and parklands for a variety of events.”
Work is expected to begin on the site next year. Once completed, it will have 28,000sqm of commercial space, an 8750sqm retail and dining precinct and 1.8 hectares of green open space alongside 1,200 dwellings.
The announcement has been a long time coming after flood mitigation works and soil decontamination forced delays.
Two apartment blocks – Park House and Garden House – will offer a total of 91 apartments targeted towards the owner-occupier. Green Terraces are to appeal to the luxury buyers, comprised of 10 three-bedroom townhouses with private courtyards.
The first stage of its residential launch has just been released, with prices ranging from $450,000 to $1.325 million.
Retail will complement the residential offering, with Woolworths committed to the project as its anchor tenant. A range of artisan specialty stores, a gymnasium and other health and wellness operators, a dining and entertainment hub are hoped to also fill the space.
It is anticipated that the first residents will be able to move in as early as 2021.
This article originally appeared on www.theaustralian.com.au/property.