A new master planned residential development is soon to launch in Narangba, north of Brisbane.
The site is being developed through a joint venture between Pointcorp and the Dahua Group. The lots will be delivered in ten stages and once complete, will provide 467 house and land packages — with an expected end value of $222 million.
Pointcorp diversified into house and land packages last year launching their first first land project — a 344-lot land division — in Coomera on the Gold Coast.
Last week, Queensland Acting Premier and Treasurer Curtis Pitt visited the master planned site in Narangba.
Pitt said the Moreton Bay Regional Council was the fastest growing municipality in Queensland and one of the fastest growing regions in Australia.
“It’s forecast to grow in population by more than 40 per cent over the next 20 years and there are plans in place for a range of residential housing for growing communities to call home,” Pitt said.
All house and land packages at Amity will qualify for the $20,000 Queensland first home owner’s grant.
“The grant can be applied to newly constructed homes up to $750,000 and not only help Queenslanders into their own home, but also supports jobs in our building industry,” Pitt said.
Pointcorp’s Chris Vitale said the company acquired the land in January 2016 in partnership with Dahua.
“We’re designing a one-of-a-kind community not seen before, and our partnership with leading global developer Dahua Group will ensure we develop [a] wide range of affordable housing product,” Vitale said.
Amity’s future contribution to the region’s housing stock supply allowed Dahua to qualify for relief from additional foreign acquirer duty (AFAD). AFAD was introduced to ensure foreign acquirers of residential property who benefit from government services and infrastructure also contribute to their delivery, the same as local buyers.
“We welcome mutually beneficial foreign investment and by maintaining sufficient flexibility when it comes to the additional duty charged to foreign entities,” Pitt said.
Amity will launch to the public in October. The first stage of the community comprises 93 house and land packages ranging in price from $398,000 to $600,000.
Originally Published: moretoninvestor.com.au
Brisbane ‘Eyesore’ Roma St Transit Centre Set to be Demolished
The old Brisbane Transit Centre, known as one of Brisbane’s ugly duckling sites, will be demolished as part of plans for the $5.4 billion Cross River Rail infrastructure project.
The removal of the ageing transit centre, along with the neighbouring Hotel Jen, will clear the way for a new underground station and the $2 billion Brisbane Live entertainment venue.
The Palaszczuk government announced in November that the Roma Street Cross River Rail station and Brisbane Live would “progress together”.
Treasurer Jackie Trad confirmed that early works will commence in 2019 with demolition planned for late-2020.
The Roma Street Station will be a key link between the city centre, Roma Street Parklands, Spring Hill’s schools, Caxton Street, the Petrie Barracks, Suncorp Stadium, and the cultural precinct at South Bank.
“When complete the new station is expected to be used by more than 230,000 commuters every week, the equivalent of over four capacity crowds at Suncorp Stadium,” Trad said.
“Plans for the 18,000-seat “Brisbane Live” entertainment arena are underway.”
Planning for the $2 billion “Brisbane Live” ultra-entertainment precinct is currently under way with consultancy firm Deloitte, and sport and architecture firm Populous recently appointed to mammoth project.
“With an 18,000 seat world-class arena as its centrepiece, the Roma Street precinct, just like the LA Live complex, will become Queensland’s premier entertainment venue hosting major live concerts and world class sporting events right in heart of the city,” Trad said.
More than $700 million was earmarked to build Brisbane’s Cross River Rail in the budget released last week, with demand for Brisbane’s rail services forecasted to double by 2026, and triple by 2036.
“This is a project that will transform the south-east by creating a turn-up-and-go transport system for the whole of South-East Queensland – taking thousands of cars off our roads and getting people home and to work faster.”
Brisbane City Council Scraps Aged Care Developer Incentives
The incentives, introduced in 2016, reduced infrastructure charges and encouraged the co-location of facilities on privately-owned sport and recreation land.
Lord mayor Graham Quirk said the “difficult decision” was due to sporting clubs becoming easy targets for political campaigns.
“Council will proceed without any proposed changes to sport and recreation land sites, as our priority is ensuring that the accommodation that we need to plan for the growth of our city can be delivered as quickly as possible,” Quirk said.
Earlier this year, Retire Australia’s controversial $80 million retirement living complex at the Tarragindi Bowls club was the first development approved under the Retirement Living and Aged Care Accommodation Incentives.
Australian Bureau of Statistics figures shows 15.3 per cent of all Queenslanders are aged 65 and over, an increase from 12.4 per cent in 2011.
Property Council of Australia executive director of retirement living Ben Myers says politics, rather than planning considerations is disturbing the delivery of Brisbane’s seniors’ housing.
“All sides of politics acknowledge that we have an ageing demographic and that we will need to provide suitable housing now and into the future,” Myers said.
By 2025, Myers said the demand for retirement living accommodation for people aged over 65 is expected to double, to meet the housing needs of Queensland’s ageing population.
“To date the incentives have been successful in creating a pipeline of projects for Brisbane that will assist in housing our ageing demographic,” Myers said.
The Lord Mayor said council would begin consultation on the aged care proposal within weeks to fast-track the amendments.
Plans for $1.4 billion waterfront precinct progress
Dexus has proposed a redevelopment of Eagle Street Pier, including two new towers and up to 1.5 hectares of riverfront open space.
Dexus is progressing on its $1.4 billion redevelopment plan to unlock “the unrealised potential of the waterfront” in Brisbane.
The property group unveiled its plans to transform Eagle Street Pier, including building two towers, closing Eagle Street between Charlotte and Market streets and opening up the riverfront space, in March.
Dexus’s head of office development Queensland, Matt Beasley, said the response to the company’s announcement had been overwhelmingly positive.
“Since the announcement we’ve been having both town hall sort of sessions with our customers in our buildings, the retailers, getting them up to speed on what the proposals are, what is the process moving forward and when we would be targeting to get that outcome,” he said.
“We’ve acquired those assets and explored that opportunity and it’s really about unlocking the potential, unlocking the unrealised potential of the waterfront, really giving that back to the people.”
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