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Maple Development Group, wholly-owned by China-based developer Peng Bo, has lodged plans for a $200 million mixed-use project in Brisbane’s Quay Street precinct.
The Rothelowman-designed project at 57 Coronation Drive proposes 255 residential apartments, a five-star serviced apartment tower, commercial offices along with retail and entertainment facilities.
Construction of the 30-and-35 storey towers is expected to commence in 2021 pending development approval next year.
Maple, which established its Brisbane base in 2015, broke into Brisbane’s apartment market last year with the launch of the $20 million development Arcadia apartments in Brisbane's inner west suburb of Indooroopilly.
Last year, Gold Coast developer Sunland was rejected in the supreme court for its 555 apartment proposal of 'champagne flute' skyscrapers on Coronation Drive, in nearby Toowong.
Sunland had secured the former ABC site for its three-tower proposal, zoned with a 15-storey limit, for $20 million in 2013.
Maple’s development manager Gilbert Zhu says the Coronation Drive project plans to connect the CBD with inner Brisbane suburbs Milton, Petrie Terrace and South Brisbane.
“The proposed development intends to reinvigorate a residential and lifestyle precinct on Quay Street by including a large Queensland-inspired public realm,” Zhu said.
“We’ve gone to great lengths to ensure that the project will make a significant contribution to the city of Brisbane.”
Rothelowman principal Jeff Brown said the project was inspired by Brisbane’s sub-tropical lifestyle.
“As Brisbane’s population and popularity with tourists increases, we expect that the north western CBD pocket will grow into a prominent destination,” Brown said.
Maple has also acquired development sites in Brisbane's Woolloongabba and St Lucia, thanks to the financial backing of its company body which is headquartered in Zhuozhou China.
The group has delivered more than 30,000 units in China in recent years, along with one of the largest proton therapy cancer treatment facilities in the region, located in Zhuzhou.
Peng Bo Group also has agricultural interests in Queensland with a nursery on the Gold Coast and farmland at Beerwah on the Sunshine Coast.
