A new development in Brisbane’s inner-south is transforming Woolloongabba into a modern hub, fit for the city’s young professionals.
Designed by ROTHELOWMAN for client Aria, construction has recently commenced on the development’s first buildings– Eden Lane and Ivy Terrace– which form part of the duo’s four-stage development across Gibbon and Hubert streets.
Despite several new developments dominating Brisbane’s inner-north in recent years, 2015 marks the first occasion the inner-south will be the main recipient of an urban renewal project of this scale, with Eden Lane the first cab off the rank in a long line of developments.
According Lawson Royes, Associate at ROTHELOWMAN, the project is all about “giving back” to the community
“This is probably the first significant development of a string of other approved sites for Woolloongabba. It’s rejuvenating a part of Brisbane that’s remained semi-industrial,” says Royes.
“The precinct has this vibrancy with The Gabba and Logan Road’s antique stores and restaurants. It’s small, but really popular.”
According to Paul Riga from advisory firm Urbis, Woolloongabba stands out as the newest hotspot within the area.
A significant element of development is the urban design created by ROTHELOWMAN, a major contribution in terms of added amenity to the area.
“This development is making some really important urban design moves in terms of creating this cross block link across the site,” Royes says.
“We’ve created a public thoroughfare with retail stores and a small-scale urban design space.”
Each of the distinctly different mid-rise residential buildings are predicted to appeal to young nearby city workers, investors and provide an entry point to first homeowners close to the CBD.
Aria Residential Development Manager Brent Liddell says the area hosts plenty of untapped potential they hope to uncover.
“Woolloongabba offers a great inner city location and strong investment conditions with low vacancy rates and solid rental yields,” he says.
Woolloongabba’s residents have a median age of just 31 years of age, six below the Australian average, with apartments allowing young buyers the chance to pursue the cosmopolitan lifestyle of their choosing, without the price tag of a house in the area. Young independents are already the largest demographic of the suburb, with over 30 per cent of residents identifying within this age group.
Being just two kilometres from the CBD and home to the Brisbane Cricket Ground (The Gabba) and Princess Alexandra Hospital, the lifestyle the suburb provides is palpable.
Eden Lane and Ivy Terrace are scheduled to finish construction in late 2015, with the first residents moving in early 2016.