Transforming Brisbane: Six big projects enticing CBD buyers

The future is looking bright for Brisbane, with over $10 billion of projects planned for completion by 2022, reports domain.com.au.

 

The projects include:

 

The Brisbane Metro

Set to carry around 22,000 passengers per hour, reduce congestion and cut travel times. Linking all busways in between University of Queensland Lakes, Royal Brisbane and Woman’s Hospital and Eight Mile Plains over a 21 kilometre stretch.

 

New Brisbane Airport runway

Set to open in 2020, the $1.3 billion project will create 7,800 jobs by 2035 and contribute an additional $5 billion to the region's economy. The new runway will open the door for a greater range of flight times, airlines and destinations accessible from Brisbane. By 2035, passenger numbers are predicted to grow to 50 million (22.7 million in FY17).  

 

$100 million Howard Smith Wharves redevelopment

The 3.43 hectare site will include a 164-room hotel, event centre, restaurants, cafes and parklands. The development will connect the CBD and New Farm Riverwalk.

 

 Queens Wharf

The $3 billion development covers 26 hectares across land and water and will include a casino, hotels, dining, entertainment and parklands. The project is estimated to create approx. 2000 jobs during the peak construction phase, followed by more than 8000 jobs in QLD once fully operational. Key tourism economic benefits include a predicted $1.69 billion increase in annual Queensland tourism spend, and an additional 1.39 million tourists per annum.

 

Brisbane Quarter

The site of the former Supreme and District Court, the $800 million development includes the newly opened 32-storey ‘W Brisbane’ Hotel, ‘300 George’ office tower and ‘The One’ residential tower.

 

and finally, the high-end Spire residences, a 40-level residential apartment building in Queen Street.

 

As the city transforms, jobs growth and a surge in population are key drivers in attracting local and interstate investors. Domain data scientist Nicola Powell says buyers are drawn to the appealing price point in comparison to other major cities which has resulted in interstate migration increasing since 2015. 

 

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