Aria Axes Penthouses, Parking for Brisbane BtR Conversion
Aria Property Group is ditching basement parking and penthouses as it flags a conversion to build-to-rent for its approved apartment tower at South Brisbane.
While the Woods Bagot-designed scheme largely looks the same, the Brisbane-based developer, headed by Tim Forrester, appears to be working the angles to reduce construction costs for the proposal at 10 Cordelia Street.
These kind of manoeuvres were becoming more prevalent in South-East Queensland, the RPM Group said in its apartment report for the region, and many developers will be looking at, as developers seek ways to deal with the skyrocketing cost of getting highrises in the region to stack up.
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