CONSTRUCTION has started on the first stage of the $850 million Yeerongpilly Green Riverside community development in Queensland.
The first stage of the development will include 83 apartments, 10 luxury terrace homes, a Woolworths-anchored retail centre, a hospitality precinct, along with speciality stores and commercial offices.
“Yeerongpilly Green Riverside has been holistically designed to include everything a community could want from health and wellness services through to shopping, public transport, parkland and premium homes that complement the local environment, said Don O’Rourke, chairman and CEO of Consolidated Properties Group.
The works are part of the Yeerongpilly Green Riverside masterplan, which is set to see 1,200 homes delivered on the under-utilised 14-hectare site, that sits just seven kilometres from the Brisbane CBD.
“Projects such as Yeerongpilly Green Riverside help address land supply challenges, catering for Queensland’s booming population whilst creating local jobs,” said Steven Miles, deputy premier of Queensland and minister for state development, who was onsite too turn the first sod.
Consolidated Properties Group and CVS Land Capital Partners will deliver the project, with the construction phase of the development to support 631 jobs in the area.
As part of Queensland’s COVID-19 Economic Recovery Plan, the establishment of master planned community will also create 6,600 construction jobs, with 335 apprentice jobs, as well as 1,000 full-time ongoing positions upon completion.
Economic Development Queensland (EDQ), in partnership with the developer, injected more than $30 million into delivering the parks and public infrastructure in the community.
“We have created a pedestrian spine between the Yeerongpilly Railway Station and the Pat Rafter Tennis Arena and parks as well as other infrastructure including roads, verges, landscaped public spaces and all services necessary for a modern master planned community,” said Mark Bailey, member for Miller.
According to O’Rourke, pre-sales for the first stage of the community have already reached 90%.
“With Brisbane’s growth set to accelerate in the next few years in the build up to the 2032 Olympics we’ll see increased demand for quality mixed used lifestyle precincts and so the project is very well positioned,” said Lee Centra, CEO of CVS Lane.
