Brisbane-based Cromwell Property Group has lodged a mixed-use development proposal for two new towers located at 527 Gregory Terrace, Fortitude Valley.
Designed by Nettleton Tribe, the proposed development comprises two towers set above three storey podiums and four levels of basement.
A total of 47,933m of gross floor area is proposed, equating to a plot ratio of 6.84 times the site area.
The proposed landmark development contains a diverse mix of apartment types and uses. Tower One comprises a 30 storey building which is 117.5 metres in height.
This tower includes a total of 379 sqm of commercial/retail floor space on the ground floor, with the balance of the building comprising 311 residential apartments with a mix of 160 one bedroom apartments and 151 two bedroom apartments.
Tower Two is a 25 storey building which is 102.5 metres high. This tower contains 2,949sqm of commercial/retail floor space located on basement level 1, ground and podium levels.
Above the podium level area are 210 residential apartments, including 88 one bedroom apartments and 122 two bedroom apartments.
The proposed residential towers are supported by significant communal recreational open space areas on level 10 and level 3 of stages 1 and 2 respectively.
Both of these areas include swimming pools and a number of areas for residents’ private functions.
The nature of the retail tenancies as part of the proposed development will complement the significant investment in public space by providing significant opportunities for laneway cafes, bars and restaurants.
All car parking associated with the development is located below the ground level within 4 levels of basements.
Access to the basement for the retail and residential uses will be provided via a an access driveway located on Gregory Terrace adjacent to the eastern boundary.
This is the location of the existing access driveway.