$325 Million Mary Lane Development Fast-Tracked

Miner and property developer Sam Chong has fast-tracked construction of his development at Mary Lane in Brisbane, according to The Courier-Mail.

Developer Mary 111 Pty Ltd, has been granted approval to increase the size of the project from 167 residences to 184 in response to market demand, and expects to start construction within two months.

As well as the apartments the project includes a five-star Westin Brisbane hotel and a high-end restaurant precinct.

Development manager Ian Pert, of GMP Management, told The Courier-Mail that the project had been accelerated because of strong inquiry.

“The inquiry we have had since launching to the market has been outstanding and we are very eager to commence construction first quarter 2016 to deliver this landmark quicker than we anticipated,” he said.

“With Westin as our operator, project funding in place and a high level of response to the residences we are ready to commence.”

“We expect a build time frame in the vicinity of 24 months which would give us a completed project for Mary Lane in 2018. A formal announcement on the builder is imminent”.