Geon’s Fairfield and Co build-to-rent development expected to be approved by Townsville City Council

Townsville City Council is set to decide on a residential project which could made a dent in the city’s worsening housing shortage. DETAILS.

Fairfield & Co build to rent project in Idalia. View from Lakeside Drive beside creek. Picture: Geon.

Townsville City Council is set to decide on a residential project which could made a dent in the city’s worsening housing shortage.

In September last year, Queensland-based property developer Geon submitted a development application to build Townsville’s first build-to-rent project at Fairfield and Co, the company’s mixed-used retail and lifestyle precinct on Darcy Drive, Idalia.

Fairfield and Co has been growing steadily, with Chipmunks Playground the most recent addition to the greater development.

The project will include nearly 300 apartments for both short and long term accommodation, across two 12 storey buildings.

There is also more than 420 square metres of retail floor space that will include food and drink outlets, health care services, shops and offices.

Carparking will be made available within the first three floors.

As part of the Queensland Government’s expanded $2bn housing investment fund, it has partnered with the development sector to deliver affordable housing through new build-to-rent developments.

Fairfield & Co build to rent project in Idalia. Elevated view from existing Fairfield & Co. Stage 2 retail. Picture: Geon.

The state government has also made concessions for eligible build-to-rent developments such as 50 per cent reduction in the taxable value of the land for land tax which is used solely or primarily for build-to-rent development.

Not only is the project set to address housing, it will also boost the local workforce, generating between 100 and 150 construction jobs.

Geon Project Director Mark Hunt told the Bulletin last year that the project would be built up to a minimum of 4.4 metres above sea level to provide protection from floods, due to the area being susceptible to flooding.

In the business papers, the development has a direct connection to Lakeside Drive, which has been considered a state-controlled road and has been managed that way since the late 1990s.

The council’s traffic and safety assessment of the application identified that the intersection of Lakeside Drive should have traffic lights installed, but not at the expense of the developer as other developments contribute to the impact of the traffic network in the area.

The council officer’s recommendation is to request Transport and Main Roads Minister Brent Mickelberg designate Lakeside Drive as a state-controlled road, and request the government deliver the traffic lights at the intersection, to achieve safe and effective outcomes for all road users at the location.

The assessment of the by the council has determined this intersection to be at a critical point and an upgrade is required to optimise safety.

Originally published as Geon’s Fairfield and Co build-to-rent development expected to be approved by Townsville City Council