Revealed: 23 Qld developments to watch in 2023
As Queensland races to meet the demand of a population explosion and earn its place on the global stage, these are the developments to watch. SEE THE LIST.
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QUEENSLAND’S southeast corner is in the grip of a mini residential development boom as it grapples with a looming population explosion and record infrastructure spending in the lead-up to hosting the greatest show on earth.
Thousands of new homes are under construction within new apartment and townhouse projects as developers race to address the state’s chronic housing shortage, but it is not nearly enough to meet demand.
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New research from PRD reveals that of the 31,200 units, townhouses, and lots in projects scheduled to commence across Greater Brisbane in 2023, 9100 have been deferred or abandoned due to rising building costs, government red tape, delays, and labour shortages.
The Courier-Mail has compiled a list of 23 residential developments that are confirmed or currently under construction that we think readers should have on their radars — the majority being delivered by trusted and well-regarded local developers.
From ultra-luxurious apartments on the Gold Coast beachfront and inner-city build-to-rent projects, to entire new neighbourhoods taking shape in Brisbane’s burgeoning outer suburbs — including a former quarry.
As the region prepares to host the 2032 Olympic Games, the federal government will contribute $1.1 billion over the next four financial years for venue infrastructure and Queensland’s population growth is tipped to pass 5.5 million in the first half of 2024.
Many of the new residential projects that these new residents will live in are planned for Brisbane’s inner suburbs and on the Gold Coast, and apartments make up most of them.
“I think it’s important to be realistic about what’s actually going to go ahead and what isn’t,” PRD national research manager Diaswati Mardiasmo said.
“A lot of developers are more cautious now in terms of choosing where and what type of product.
“They also want to bank on profitability and actually being able to meet their financial commitments.
“Will this amount of scheduled supply be enough? The simple answer is no, but this is what we must work with. The next step involves developing innovative strategies to introduce more housing options to the market. This may involve embracing a variety of property types, some of which might be unfamiliar to us at present.”
23 QLD DEVELOPMENTS TO WATCH IN 2023:
Ari
Developer: Stamoulis Property Group (SPG)
Rich Lister Harry Stamoulis, who heads up the Melbourne-based Stamoulis Property Group, is behind Ari at Main Beach.
SPG engaged Gold Coast architect Bayden Goddard to design a 19-level luxury tower across the 1335sq m site with prices from $5.9m.
The tower offers 26 half-floor three-bedroom apartments, three full-floor four-bedroom apartments, and an opulent penthouse with a rooftop terrace.
Ascot Green
Developer: Mirvac
The third building at Mirvac’s $1.2 billion redevelopment of the Eagle Farm racing complex is now under construction.
Named Charlton House, the third stage of the development will feature 112 apartments over 13 levels, a resort-style pool, and a rooftop terrace featuring an indoor dining room with panoramic views over the racecourse and across to the Brisbane CBD.
Brunswick & Co
Developer: Frasers Property Australia
Frasers Property Australia recently kicked off the next phase of construction of the 25-storey, 366 apartment Brunswick & Co project in Fortitude Valley.
It’s one of Brisbane’s largest build-to-rent projects, with 40 per cent of the units dedicated to subsidised rentals.
Chalk
Developer: Graya
This three-storey, luxury apartment project in New Farm will offer two and three-bedroom apartments.
Positioned on Moray St, the boutique offering of just 10 units will cater to the increasing demand for larger apartments in Brisbane’s inner city.
Works have commenced with completion due in mid-2024.
Harbour One
Developer: Mulpha
Harbour One is a waterfront apartment project under construction at 1 Masthead Way, Sanctuary Cove, on the Gold Coast.
The project connects to Sanctuary Cove’s world-class marina and retail village and is a short buggy ride to the renowned golf courses, country club, pools, tennis courts and wellness facilities. Construction is expected to be complete by March, 2024.
Hillside
Developer: Urbex
Hillside will be a residential community of contemporary homesites, set amongst 40ha of open space in the Sunshine Coast’s Mooloolah Valley.
Lots in the estate under development by Urbex are 851 sqm on average, with two land releases delivered so far at an average price of $592,000.
Jewel Private Residences
Developer: AW Holding Group and The Langham
The $1.5b Jewel triple-towers on the Gold Coast beachfront comprise a five-star hotel and residential precinct.
Another 30 premium units were recently released to the market after buyers forked out $82m for the first 40 apartments.
Ranging from one to three bedrooms, the units are priced from between $800,000 and $6.5m.
Jewel Private Residences is fully completed with apartments ready to move in now.
Kirra Point
Developer: KTQ Group
The $380m triple-tower project is set to reshape the Kirra skyline on the southern Gold Coast. The developer will fast-track construction of its second stage which will be built by late 2026. Kirra Point covers a block at the eastern end of Kirra, on the corner of Miles St and Marine Pde.
Lily
Developer: Mosaic Property Group
Mosaic’s second Broadbeach project, Lily, will front Surf Pde and offer 98 residences over 29 levels with amenities including a gym, sauna, steam room, resort pool, barbecue and dining spaces, and a top-floor Residents’ Lounge.
Sales so far have included six sky homes at an average of $3.3m. Remaining apartments start at $895,000.
Luminare
Developer: Cavcorp
Cavcorp’s newest Newstead development offers 214, two and three-bedroom, luxury apartments with a residents’ rooftop featuring a 25m glass-bottom pool, as well as magnesium wellness spas, saunas and steam rooms and a state-of-the-art fitness centre.
The top-floor apartment sold earlier this year for $12.95m.
33 Manning
Developer: Goldfields Group and Icon Developments
This high-rise, 130-apartment tower in the Brisbane suburb of Milton is now 50 per cent sold following a strong run of sales since its launch.
33 Manning offers one, two and three bedroom apartments starting from $695,000, over 18 storeys, with city and river views, a rooftop pool and close proximity to transport options.
Due for completion in mid-2025.
Masthead Ocean Club
Developer: Banda and Rory O’Brien
A collection of luxury apartments in Main Beach with links to the British royal family.
The $250m Masthead Ocean Club is backed by a partnership between Australian businessman Rory O’Brien and UK-based Banda — a leading interior design studio and development business founded by husband of Princess Beatrice, Edo Mapelli Mozzi.
The project features 28 apartments, including one penthouse, two sub-penthouses, five sky homes, and 20 further residences. Due for completion in 2024.
Monarch Residences
Developer: Consolidated Properties
Construction has started on the $450m Monarch Residences in Toowong, with $200m worth of apartments sold since its March launch.
The luxury residential development on the site of the former ABC headquarters at Coronation Drive already features a $3m sales display.
Set on 1.2ha with 130m of Brisbane River frontage, there will be 224 apartments and penthouse residences across two 15-storey buildings. Completion is expected by Christmas 2025.
Moray House
Developer: Spyre Group
This luxurious, boutique project on the river in New Farm has already made headlines with the off-the-plan sale of the penthouse for a whopping $15.75m.
The cheapest of the six residences in the building recently fetched $9m, with four remaining.
Demolition works have started on the site in Moray Street.
Pipis
Developer: SIERA
Pipis by Brisbane developer Siera will offer 19 luxury apartments in an 11-storey, beachfront development in Bilinga on the Gold Coast.
Launching this month, construction is due to start in October 2023, with completion expected in mid-2025.
Private ground floor amenities include a 15m heated lap pool and sun lounge deck area, a gym with rowing, biking and reformer Pilates, an outdoor rain head shower, and a dog wash.
Riviere
Developer: Aria Property Group
Offering 124 apartments over 12 storeys, Aria’s latest residential apartment project in Kangaroo Point is 100 per cent sold and due for completion in July.
This is the project Aria took over from defunct builder ConDev.
To date, it has cost the Brisbane developer more than $21m to finish, but will be a landmark development for Brisbane.
Rockpool
Developer: Joe Adsett Architects
Renowned architect-turned-developer Joe Adsett has created a collection of 21 luxury residences in Rainbow Bay, which take cues from the curved forms of the beach dunes.
Currently under construction, the three-and-four-bedroom sky homes fronting Kirra Beach start from $3.4m and 80 per cent are now sold.
Adsett bought the 1215 sqm beachfront site in 2020, which was previously owned by Sunland. Due for completion in 2025.
Royale Gold Coast
Developer: DD Living
Royale Gold Coast is a $435m, 38-level tower including 104 residences on the beachfront at Surfers Paradise.
Under construction at 7-9 Northcliffe Terrace, Royale will include two levels of six-star lifestyle amenities.
Shute Harbour Marina Resort
Developer: An Australian consortium of shareholders
Shute Harbour Marina Resort in the Whitsundays is undergoing a $350m redevelopment, with 395 private berths ranging from 10m to 35m in size and priced between $175,000 and $1m on a 99-year lease.
There are 58 land allotments on the edges of the marina, which also includes a five-story apartment and commercial complex known as Pier 61, offering more than 100 apartments.
Skye
Developer: Pikos
The landmark $250m Skye by Pikos development overlooking the Kangaroo Point cliffs will comprise three towers and 68 apartments, along with a 1000 sqm sky deck, infinity pool, and rooftop leisure precinct.
Recent sales include two penthouses for $12.5m and $10.5m, two sub-penthouses for $8.5m and $8m, and a four-bedroom apartment for $6.1m.
Work started late last year and completion is scheduled for 2024.
Stonebrook
Developer: Gardner Vaughan Group
Stonebrook in Stones Corner will feature 90 apartments, between one and four bedrooms, and eight penthouses.
Residents will have rooftop recreation areas, with indoor and outdoor dining and city views. Other features include a ground-level pool and function room.
Construction is underway with completion due late next year.
The Quarry
Developer: Frasers Property Australia
Frasers has revealed its plans for the transformation of a working quarry in Brisbane’s north-west into a new premium, residential community.
There are two residential precincts planned, as well as a sport and recreation precinct and a conservation zone. The first precinct will comprise 91, three and four-bedroom townhouses delivered over six stages.
The Rochester Broadbeach
Developer: Polycell Property Group
This $275m, 39-storey tower is earmarked for a 1813sq m corner block in Broadbeach fronting Surf Pde and Britannia Ave.
The tower, designed by BDA Architects, will include 170 two and three-bedroom apartments as well as two floors of five-star resort and lifestyle amenities.
(Developments not ranked, but listed in alphabetical order)
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