Queensland Premier Campbell Newman today launched stage two of the landmark $2.9 billion
The regeneration project includes construction of the vibrant King Street precinct, a four-star international hotel, 40 retail and food outlets and 408 new residential apartments.
The showgrounds redevelopment is one of Australia’s largest regeneration projects. Premier Newman said stage two of the project will create more than 1,400 jobs and generate more than $300 million a year for the Queensland economy.
RNA Chief Executive Brendan Christou said stage two represented a game-changing milestone for the iconic 139 year-old showgrounds, which attracts arount a million visitors a year.
“This once in a lifetime legacy building project will ensure the showgrounds become a world class events and lifestyle destination precinct, while at the same time preserving the site’s heritage for future generations to enjoy,” he said.
“King Street will transform the showgrounds by opening the site up and connecting it to surrounding residents and businesses, the hospital precinct and Fortitude Valley.”
Lend Lease Project Director Andrew Hay said King Street will feature outstanding public facilities that reference the site’s heritage for the community.
“King Street will bring creative, passionate traders together with familiar retailers who collectively meet the everyday needs of residents, office workers and visitors,” he said.
One of King Street’s attractions, the architecturally designed apartments The Yards will be released for sale Saturday 27 September 2014. Designed by award-winning architects Hayball, the 2,500 square metre complex features state-of-the-art kitchens, and floor plans that maximise breezes, views and natural light.
A key feature of King Street will be the new $50 million 208 room four star Rydges International Hotel, developed by
Denwol Group and Baron Corporation.
The hotel would be a modern facility with contemporary restaurants and bars, conference facilities, plus a swimming pool and a mix of hotel rooms to suit most travellers. The hotel will employ about 90 full time staff when complete and employ approximately 500 people during the various stages of construction.
King Street will be a staged delivery, with the first two blocks and up to 15 retail outlets delivered with completion of Kings Gate One and The Green, by mid-2015.
The Brisbane Showgrounds regeneration project commenced in 2010, with the first stage including the construction of the Royal International Convention Centre, Showground Hill’s first residential apartments, The Green, and commercial tower Kings Gate One - which are set for completion in mid-next year.