Mirvac is moving towards completing the final piece of its Sky Precinct with a 31-storey residential tower in Brisbane’s Newstead .
It has been a lengthy gestation for the precinct north of the CBD—this $1-billion labour of love has been more than 20 years in the making.
The national developer acquired the Waterfront Newstead site in 2001 and has delivered the Pier, Park and Unison sites.
Mirvac’s first Brisbane build-to-rent venture, Liv Anura, is nearing completion, as is the first of three sister towers, Quay.
Early works have begun on Isle, and the developer has filed plans for its neighbouring tower, a 31-storey yet-be-named residential highrise, planned for the corner of Cunningham Street and Skyring Terrace.
The tower would echo the design aesthetic of its two sisters, comprising 138 apartments ranging between one and four bedrooms, on a 5000sq m site.
More than 60 per cent of the site will be retained as green space and connect through the parklands being delivered alongside Quay and Isle.
The design of the buildings has also accommodated an historic view corridor from Kingsford Smith Drive through to the CBD.
Mirvac general manager of residential for Queensland Warwick Bible said the precinct was designed to ensure enhanced amenity and connectivity to green space and public realm.
“Our vision has always been to create a precinct that acts as a visual gateway to the Teneriffe and New Farm peninsular,” Bible said.
“The Civic Square delivered as a part of this proposal on the corner of Cunningham Street and Skyring Terrace will serve as entrance into the precinct from the west, while connecting Gasworks’ retail and Waterfront Park.”
Mirvac has already delivered 490 apartments across the 10ha site and the latest tower would add to an undersupplied market, according to Bible.
“The Queensland Government’s population projections indicate the city will continue to grow by more than 14,000 people each year, with about a third of those to reside in Brisbane’s inner suburbs, making new projects such as this one essential to keeping pace,” he said.
“We’ve worked hard to deliver a mix of apartments at Waterfront Newstead to suit a diverse array of residents, from luxury apartments to our build-to-rent project, where 25 per cent of apartments will be key worker affordable housing, offered at a discount to market rent.”
The latest tower’s configuration skews more towards larger format apartments, in line with a growing market demand from downsizers and families moving to vertical communities.
The developer is hopeful to run the construction programs for Isle and the third stage concurrently, as it has successfully done with Liv Anura and Quay.
The Mirvac team is fine-tuning its placemaking plans for the sprawling privately-owned public spaces being delivered across the precinct.
There is one final tranche of Mirvac land on the riverfront at Newstead, the Lake Precinct, which is earmarked for future development alongside Kokoda’s Newstead project.
