Brookfield Residential Properties is getting ready to notch up its 1,000th apartment at Northshore Hamilton after gaining approval for a 19-level tower on Brisbane River.
The $141 million residential tower is the international developer’s next stage in the $1.3 billion Portside Wharf project.
The tower will feature 150-units and ground floor retail next to Brookfields’ most recent properties Gallery House One and Two on Wharf Street near MacArthur Avenue, Hamilton.
The tower designed by Cottee Parker will be the ninth building in the quickly expanding area including 850 apartments already completed by the developer.
The 2,829sq m site is located within the Portside East precinct and is part of the larger state identified priority development area which has seen rapid development in the past 10 years.
One of the most recent applications in the area is for a triple-tower development located on the other side of the portside shopping and dining precinct by Wentworth Equities.
The greater $5 billion Northshore Hamilton Priority Development Area will eventually extend approximately 2.5 kilometres along the Brisbane River to the Gateway Bridge and occupy a total of 304 hectares.
Brookfield managing director Lee Butterworth said they are confident in the strength of the Brisbane market and are working toward launching the new apartments later this year.
“It will feature an urban sub-tropical character that embraces and celebrates the riverfront address, with a suite of luxurious amenities for residents to enjoy as they take in the stunning location,” Butterworth said.
“As the original and most active developer in the Northshore Hamilton precinct, Brookfield Residential Properties has a proud track record of delivering high quality and highly sought-after apartments that have played a significant role in spurring urban regeneration in this area.”
Brisbane apartment prices increased 2.3 per cent during 2020 this compares to house prices which increased 4.6 per cent in the year according to Corelogic.
Brookfield Properties have a number of major developments across the country including the unsolicited Wynyard station skyscraper in Sydney as well as a commercial tower on Bourke Street, Melbourne which both topped out in the past 12 months.
The Canadian asset management giant also recently gained approval for twin towers on Elizabeth Quay in Perth.