Property Development

Developer Submits $80m Woolloongabba Residential Project

Written by The ReReport


Brisbane developer Lennon Lin has submitted an application to the Brisbane City Council for an $80 million residential development in Woolloongabba.

Lin’s development company Augustine Property submitted the 12-storey proposal comprising 204 units, for 27 Carl Street, on Monday.

Augustine originally planned to build student accommodation yet changed tact to build more spacious living areas, which is why the developer settled on a combination of one and two bedroom units, Lin explains.

“We wanted the residents to enjoy the services and communal activities of student accommodation but still have the privacy of living in your own apartment,” Lin told The Urban Developer.

“We will be focusing heavily on servicing and managing the residents. ”

Related: World’s Tallest Man-Made Waterfall Wins Approval in Brisbane

27 Carl Street is projected to cost $80 millionImage: Rothelowman Architects

The Carl Street site is a 3545sq m amalgamation of six lots which Augustine first started acquiring in 2015 costing the developer approximately $10 million.

The site is located near the Princess Alexandra Hospital and within close proximity to a public transport hub linking directly to three major universities.

According to Lin, close proximity to surrounding infrastructure and accessibility were key motivators behind the acquisition of the site.

Lin also outlined the diverse context around Carl Street as the reason behind the developer’s move away from strictly delivering student accommodation.

“From our research the area will be a hub for students from the universities, students and interns from the PA hospital, single workers, retirees wanting to downsize close to the hospital and also young families still wanting to live close to the CBD,” Lin said.

Related: Developer Lodges Plans for 138 Apartments in Brisbane’s Middle Ring

Augustine Property moved away from student accommodation to capitalise on the sites full potential. Image: Rothelowman Architects

Additional amenity within the proposal includes a series of green communal areas, a gym, cinema, pool, rooftop bbq and car sharing scheme.

“It’s very rare to have a project in Woolloongabba especially around Buranda that has so much green communal space,” Lin said.

The developer’s sentiments were shared by Rothelowman senior associate Simon Maurice who states the proposal responds to the future needs of Woolloongabba “creating meaningful communal recreation areas”.

“These social and communal ideals are further expressed in the balconies of the building creating a vertical liveable neighbourhood,” Maurice said.

Related: Sunland’s $250m Gold Coast Skyscraper Breaks Ground

Hope Island Marketplace
Hope Island Marketplace Image: Augustine Property

Lin, 32 years old, has made a decent impact on the south-east Queensland market in the short time frame since launching his property career in Brisbane in 2015.

The developer is a week away from the opening of the Hope Island Marketplace, a $65 million retail hub on the Gold Coast.

Augustine acquired the site on Marina Quays Blvd in 2017 from receivers for $14.3 million and have since developed it into 10,000sq m of retail.

Hope Island Marketplace will be anchored by a 4000sq m Woolworths supermarket and a 1600sq m Aldi.

Augustine anticipate to deliver the Woolloongabba site in two stages and are yet to indicate a construction timeline.

Source link