The second stage of a renewal project within Fortitude Valley has been given the thumbs up.
The development in question involves $500m of investment. Brisbane City Council (BCC) has recently given its consent to the construction of a resident block where Brunswick Street meets Alfred Street. Full colour printing could be used to showcase the homes to the public.
The residential block will be close to a commercial development that has also received approval from the relevant authority. City Planning chair Julian Simmonds stated:
“Together with the previously approved commercial tower, this residential tower will support an uplift for local businesses in the surrounding area and help transform the Fortitude Valley from a night-time entertainment precinct to an around-the-clock vibrant lifestyle precinct.”
He added that the initiative should create about 500 jobs.
The idea is that the completed project will have a retail element. Access will be enabled by a combination of bicycle racks and parking spaces for cars. The train station will be connected up with the development so that pedestrians can get there with ease.
LaSalle Investment Management (LIM) has made a statement about the proposed hub, clarifying the importance of getting council backing for the plans. However, it confirmed that talks with Queensland Rail still have to be brought to a satisfactory conclusion. This discussion is concerned with the ownership of some retail space.
