Bluebird has launched its latest boutique project in Brisbane under its innovative joint venture model.
The firm’s development partnership with landowners allows them to become equal partners in the development process.
In this TUD+ Briefing, Bluebird co-founder and partner Riye Arai-Coupe discusses the division of responsibilities under its new model as well as the expected risks and returns for both the landowner and developer.
Bluebird’s maiden project under its development partnership is located at 5 Dudley Street in Brisbane’s riverfront suburb of Highgate Hill.
“The landowners were keen to construct a new apartment building but had limited experience in tackling a development project of this size and complexity on their own,” Arai-Coupe said.
“Under our model the landowners were able to learn of all of the possibilities through the project feasibility assessment and analysis.”
The development, currently before the council, will comprise a four-level, “high-end” apartment building with eight, three-bedroom riverfront apartments.
The project is centred around Bluebird’s “biophilic” design to deliver a development that connects residents with nature, creates best practice in sustainability and considers the community.