Real Estate

Future Tasmania: A decision around CBD height limits is needed for certainty in the future, property expert says

Written by The ReReport
As seen in the Source link, written by realestate.com.au on 2019-11-04 21:50:00

An artist’s impression of The Commons Hobart, on Bathurst St, designed by local architecture firm Core Collective, which is due to be finished next year.

NUMEROUS private developments are due to begin or be completed in Hobart next year, but continuing momentum relies on certainty over height limits, says a property expert.

Blue Edge Property managing director John Huizing said there was unprecedented demand in Hobart for affordable housing and even more so for urban medium-density apartments.

“There are a couple in the pipeline, but nothing that’s been approved yet,” he said.

“We’re seeing there’s a lag time of around three years from the time a site is bought, a DA (development application) approved and the completion of the project. We need quicker approvals and also we’ve got to make a decision about height limits.

“My view is that the design of the building should be more important than height. The debate is not helping encourage development.”

REDUCE BUILDING HEIGHTS AND REIN IN GROWTH

HOBART VOTERS IN SUPPORT OF HEIGHT LIMITS

A proposed residential apartment development for 9 Sandy Bay Rd.

Some of the infill developments include The Commons on Bathurst St, a 30-unit venture being promoted as Australia’s first carbon-positive residential development. It is due to be completed next year.

A development application has been submitted for a 28-apartment building at 9 Sandy Bay Rd by Melbourne-based developers Moda, working with local architecture firm Room 11. And 28 apartments have been proposed for 431 Elizabeth St, North Hobart, at the site of the former Blue Gum Service Station.

An artist’s impression of the Fragrance Group’s proposed hotel for 179 Macquarie St. Image: Scanlan Architects

One of the biggest private commercial developers to show interest in the state in recent years is the Fragrance Group. Its only project with current approval in Hobart is for demolition at 179 Macquarie St and the construction of a new 206-room hotel, restaurant and function centre.

The Singaporean company has not said when work on this project may begin.

A proposed residential apartment complex for the former Blue Gum Service Station in North Hobart

A proposal for a floating hotel on the River Derwent was mooted in June by Hunter Developments, led by architect Robert Morris-Nunn. The five-storey, ring-shaped floating hotel near the Hobart Regatta Grounds would be the first hotel of its kind in the world.

Melbourne developer Riverlee has bought up the better part of an entire city block, with stage one of their Odeon Theatre redevelopment opening earlier this year in the form of cultural precinct In The Hanging Garden. It forms part of a longer-term vision for the site, which the proponents have said would be developed as part of a future masterplan for a broader cultural precinct worth at least $200 million.

A proposal for a floating hotel off the Hobart Regatta Grounds, by Robert Morris-Nunn.

Mona’s $400 million hotel, expected to be built by 2024, is Tasmania’s biggest hotel proposal in the pipeline, while the $50 million, 152-room Marriott Tasman Hotel project at Parliament Square in Hobart is expected to open next year.

The Crowne Plaza Hotel in the Icon Complex is also expected to be complete in the first quarter of 2020.