Artist’s impression of penthouse terrace and view
South Brisbane’s renewal is well underway and the suburb could soon become home to a landmark $50 million twin tower development known as Arena.
The contemporary 12-floor twin tower apartment buildings is slated for 9 Edmonstone Street and has been designed to allow pedestrian access to Browning Street via a dedicated cross block link.
Sydney-based Australian and Japanese trust fund Galileo submitted an application to Brisbane City Council in November last year to build the structures, which are currently awaiting council approval.
Paul Marshall of Galileo is excited about the proposed project.
“What was initially a challenge for us has resulted in a very different and exciting design,” he said. “We’re finding we’re getting a very, very strong response from the market with respect to the design.”
Galileo will collaborate with Ellivo Architects to build the innovative towers that will house 191 apartments from one to three bedrooms in size. Beneath it stand “chopstick-like columns” that will support and float over the towers’ recreational area. A communal space will include a gym, swimming pool, barbeque pavilions and the opportunity for retail space on the ground floor.
The podium design is the heart of the project and is designed to encourage interaction between residents and the public in an urban courtyard space.
The apartment views are impressive, taking in the Queensland state library, art gallery and Brisbane’s CBD.
Property value is rising in coastal or near-costal locations throughout Australia as residents migrate toward water. South Brisbane’s riverside location makes it highly desirable to residents seeking an urban lifestyle, offering convenient living, working and lifestyle opportunities due to its close proximity to Brisbane’s CBD.
Ellivo Architects also has another project underway, a boutique residential site known as the Edge Apartments.
Last year, Brisbane’s City Plan 2012 suggested that Brisbane, Woollongabba, Milton and Fortitude Valley would provide 443,000 of Greater Brisbane’s new jobs by 2031.
Further reinstating the suburb’s value, Your Investment Property Magazine selected South Brisbane as Australia’s top suburb to buy property in due to its “low supply, high demand, proximity to the CBD, high population growth and solid infrastructure and employment nodes.”
CBRE residential projects director Paul Barratt is confident that Arena will set the standard for architecture in the area.
“No expense has been spared in creating a superb quality residential development in the heart of Australia’s top investment suburb,” he said. “Demand for new stock in South Brisbane is very high, so buyers are encouraged to register interest early… to secure the best apartment.”
Darren Godwell, president of the West End Community Association, opposes the project, saying the community should have a voice prior to any further development in the area.
“It would be a foolhardy decision to ram through further hundreds of apartments without properly consulting the community,” he said, adding that South Brisbane is as “already at bursting point.”
If the project is approved by council, Galileo hopes to start selling in March and construction to begin within six months.