Pikos Group's $350-million Brisbane River development has been approved after multiple applications on the site and an appeal when the apartment plans were rejected by the council.
The triple-tower development went to the Planning and Environment Court after being rejected by the Brisbane City Council in December, 2020 for the properties at 94-108 Lambert Street, Kangaroo Point.
The court approved the Brisbane-based developer’s plans for 273 units across three towers up to 15-storeys high, exceeding the previous 10-storey height limit for the area.
The newly adopted council neighbourhood plan for the area enabled Pikos to gain approval at the 5284sq m site, however, the group modified its plans down from 300 apartments.
The council acknowledged the changes that came into effect in February, 2020 and originally rejected the plans, citing setback, open space and tower separation issues.
Work on the towers is expected to start in mid-2021 and be built across three stages with the majority of apartments available in the final release.
Pikos Property Group managing director Pedro Pikos said they had not shied away from the rigorous scrutiny, engaging with the council and addressing issues raised within the community.
“We are delighted that the council has recognised the overall merits of our development and we can now move forward with a benchmark project that will enhance the inherent charm of Kangaroo Point and its future growth,” Pikos said.
The Brisbane-based property veteran said development precedents for the area had been set long ago and that Pikos Group’s proposal sat within the existing town planning parameters.
“Now we are out of the appeal process, we continue to take on board community feedback and are exploring further options to substantially reduce apartment density and traffic volumes,” Pikos said.
The site was previously approved for a seven-unit building in 2015, 21 units in 2017 and 74 units across two 10-storey towers in early-2019.
Another application was made in August, 2019 and approved for 200 units across three 10-storey towers.
Pikos recently launched another Kangaroo Point development, the $250-million “Skye by Pikos” of 70 apartments, at 8 River Terrace.
The development, also across three towers, includes a floating 1000sq m sky deck, inspired by Singapore’s Marina Bay Sands, and is set to launch in June, 2021.