Mirvac has won approval for another residential building at its $1 billion Newstead masterplan in central Brisbane.
The ASX-listed developer’s application to develop 143-apartments across a 25-storey residential tower was approved last week.
The project, to be built on a 5,400sq m site at 58 Skyring Terrace, follows the developer’s previous completions of 336 apartments across its Pier, Park and Unison projects.
Mirvac is currently undertaking its latest Newstead development, Shore, which will contain 333 apartments spread over two towers as well as offices and retail outlets at 60 Skyring Terrace.
Mirvac head of residential Stuart Penklis said the developer had had been in close contact with the community and council prior to lodging the development application in keeping with the local area’s neighbourhood plan.
“In speaking to the community prior to developing our design, we understand just how important Waterfront Park is to residents of this area,” Penklis said.
“We are excited to be expanding—and improving—this green space as part of the development, with over 50 per cent of our 5,552sq m site dedicated to open space.”
Mirvac’s forthcoming Sky Precinct development, approved in just three months, continues the developer’s longstanding presence within the waterfront corner of Newstead where it has been delivering residential schemes for more than a decade.
Stage one, which completed in 2011, saw the development of two premium residential apartment buildings comprising of a total of 99 state-of-the-art apartments.
The masterplan’s second stage, Park, was completed in 2012, featuring 102 apartments in one, two and three-bedroom configurations.
Mirvac’s $200 million twin-tower residential development, Unison, opened in early 2017, featuring 135 apartments as well as nine terrace homes.
Mirvac also has development approval in place for another future stage, the Shore Precinct.
“[This] next stage has been designed as a ‘park within a park’, drawing greenery from neighbouring Waterfront Park up its façade and across lush landscaped balconies,” Penklis said.
The developer said it could not disclose pricing for the 143 units in the 25-storey tower that will include one-, two- and three-bedroom apartments, as well as a handful of four-bedroom units.
Work is anticipated to commence on site in the coming months on a new waterfront sales and display suite, on the corner of Cunningham Street and Skyring Terrace, in preparation for the project’s launch.
Brisbane developer Limitless has also received approval for its Newstead project, a mixed-use residential scheme, incorporating the former Federal Boot Factory.
The 10-storey project, located across a 1,821sq m site at 14 Maud Street, features 56 apartments and rooftop deck and pool.
It will also include the retention and adaptive reuse of the Goldsworthy and Perkins Boot Factory heritage building into a flexible-use space such as ground floor retail.