The South Brisbane to West End Kurilpa Riverfront Renewal Project has already caused a rise in construction jobs and once the Master Plan is put into motion it will create many more thousands of construction, retail and residential jobs into the future. The Kurilpa Project will transform 25 hectares of land to create an estimated 8,000 jobs after 20 years. Once complete the area would be a mix of modern high-rise, residential, retail, and commercial blocks dotted with public spaces, parks, cultural facilities, and improved roadways.
This Project is a joint initiative between the Brisbane City Council and Queensland Government.
According to Brisbane Lord Mayor, Graham Quirk, the project may not be totally complete for another 20 years, but that hasn’t stopped property developers and investors from eyeing-off and buying-up investment opportunities in the area.
2 of the 3 major industrial sites which would become part of Kurilpa are already up for sale. The Parmalat Factory site and the Hanson site are being circled by developers. Real estate insiders refuse to confirm or deny any sales of the big 3. On Hope St around the corner, 30 building storeys have already sold with development approval. Other developments such as Point Corp’s Vida luxury West End apartments are also under construction.
What’s the Hold Up?
The final master plan for the Kurilpa Project and a consultation summary report with key stakeholders is scheduled to be unveiled in mid-2015. Once the finalised version is released, any proposed changes will be put to the local community for consultation.