$300 MILLION MIRVAC DEVELOPMENT TO GO AHEAD
Written on the 17 June 2011
MIRVAC will embark on a $300 million multi-tower project at Hamilton after the Urban Land Development Authority approved the application.
The project adds a significant element to the Northshore Hamilton Urban Development Area which covers a total area of 304ha and will ultimately provide a mixed residential, business and recreational community that will be home to about 10,000 people.
Mirvac Queensland CEO Matthew Wallace identified Northshore Hamilton as a major growth centre within Brisbane and says it will evolve in a similar way to South Bank.
“The site is located in Hercules Street, 6km away from the city and will accommodate more than 500 residences,” he says.
“The development, called Foreshore Hamilton, will deliver a high quality residential product at a price that will broaden the market segments in which we operate. It’s going to be a high quality and affordable product as well as meeting the State Government and city council’s planning goals of higher density in the CBD fringe.”
Wallace says the Hamilton development would leverage off the established amenity within the immediate locale and it’s proposed that the urban street environment will integrate with the existing Portside development.
“The site is adjacent to the Portside Wharf development and cruise ship terminal, it’s 500m to the City Cat, five minute to the Gateway Motorway and 10km from the Brisbane Airport,” he says.
“We’re planning a range of one and two bedroom apartments on the site and our research indicates there will be significant demand for this product in this location. We expect to release the first of the residences at Hamilton in September of this year.”