Property Solutions has released plans for a new eight-level building named VIVIR, after the area recently emerged as an urban hotspot.
The new multi-storey building will be within the developers
Circa Nundah Village precinct.
Property Solutions joint managing director Kevin Miller said they are doing this development due to the sales success of Circa.
Mr Miller said that the urban rejuvenation that Nundah recently underwent and the close proximity to public transport, lifestyle amenities, major road structures and the CBD, is what prompted people to start buying more in the area.
“That is why Nundah has become enormously popular with high income professionals who are seeking a low maintenance but vibrant lifestyle on the doorstep of the CBD and other employment hubs,” Mr Miller said.
“There is also an upsurge of local people looking to downsize out of larger houses without having to leave the area.
“These factors have driven demand at Circa Nundah Village and prompted the decision to bring VIVIR to the market.”
Urbis found that a major shift in the demographic of Nundah since 2006, meant that more than one-third of the population in the area were people between the age of 20 to 34-years-old.
The growth in the popularity for the area by this age group is likely due to the renewal of the area, as well as the access to retail, the new apartments and the lifestyle amenities according to Urbis’s Outlook Nundah.
Urbis found that the most significant improvements to the area over the past year are the new AirportLink, which allows for quick access to the CBD, as well as the Circa Nundah Village project.
The VIVIR building will contain 54 one, two and three- bedroom apartments and will be priced from $361,500.