Crown Group has received approval for its $350 million residential development in Brisbane’s burgeoning fringe suburb West End.
The go-ahead will add 400 apartments to the West End river-front site and marks Sydney-based Crown Group’s first foray into Brisbane’s market.
The developer secured the riverfront site for $35 million earlier this year, originally submitting its application for the FJMT-designed 12-story residential tower in January.
The 12,500sq m site at 117 Victoria Street was one of the last remaining development sites larger than one-hectare, when Crown Group, led by Iwan Sunito swiped it off the market.
Sunito has previously described Brisbane's market “as Sydney 15 years ago”.
“There's a big future for Brisbane, it's an amazing city.”
Local Greens councillor Jonathan Sri spoke with The Urban Developer earlier this year about the lack of public infrastructure to support the density the development will bring to the area.
City Planning chairman Cr Matthew Bourke said Council’s independent planning officers had assessed and approved the development.
“West End is an inner-city suburb earmarked for future growth and the State Government’s own data has revealed its population will grow by 172 per cent over the next 27 years,” Bourke said.
Council’s infrastructure plans include 97 future projects for West End, which would follow more than $300 million in recent infrastructure investment.
“Council has previously been criticised for the large amount of new infrastructure being delivered in the West End and surrounding area, compared with other areas of the city,” Bourke said.
Significant projects in the West End area include Japanese developer Sekisui's $800 million mixed-use precinct West Village project, the $51 million apartment development "Bohemia" by Turrisi Properties and Pradella's Light & Co project as part of its broader $1 billion investment in West End.
Chinese developer R&F Property has proposed a seven-building development on an amalgamated 1.6-hectare site in West End. The developer is working through community consultation on the 1032-apartment development.