A new $40-million residential precinct has been approved for Ipswich, which is expected to begin the start of an independent city, giving Brisbane a run for its money.
Ellenborough precinct includes two residential towers, 108 new apartments and 2100 square meters for retail and business space with allowances for cafes, wine bars and fresh food market spaces.
Mayor of Ipswich, Paul Pisasale, has big plans to continue the growth of the city, which is currently one of the most affordable places to live in Brisbane.
“The precinct will be directly opposite the future stages of the ICON Ipswich development, a $1 billion CBD revitalisation.
"We see a bright future for Ipswich, we will continue to support jobs and invest in infrastructure to support the continual residential growth of Ipswich,” Mr Pisasale said.
According to news.com.au, the population for Ipswich was expected to hit 435,000 by 2031, with only one other apartment building in it’s major area.
Ipswich Developments Queensland chief executive Dean Pegg says Ipswich always had what was required for good investments to be made.
“With a strong economy, affordable land and the development of major infrastructure, Ipswich is becoming an excellent place to buy,” Mr Pegg said.
“The population of Ipswich has seen continual growth and there is demand in the market for more living options.”
Property marketing company Superior Properties chief executive Paul Rubin has said that the new Ipswich apartment block will be affordable, unlike those in Brisbane.
“The precinct will be a continuation of everything that is great about Brisbane, with shops, professional services, literally everything you need at your doorstep,” Mr Rubin said.