Woolloongabba is a suburb of Brisbane, located south-east of the CBD, and contains the Brisbane Cricket Ground and the Princess Alexandra Hospital.
It is serviced by several major roads including the Pacific Motorway.
The suburb was once home to a large tram depot.
It has a median house price of about $773,000 as at November 2018
Popular with developers, the latest is from developer Lennon Lin who has submitted an application to the Brisbane City Council for an $80 million residential development here.
Lin’s development company Augustine Property submitted the 12-level proposal comprising 204 units, for 27 Carl Street, in November 2018.
Augustine originally planned to build student accommodation but modified the proposal to build more spacious living areas, which is why the developer settled on a combination of one and two bedroom units.
“We wanted the residents to enjoy the services and communal activities of student accommodation but still have the privacy of living in your own apartment,” “We will be focusing heavily on servicing and managing the residents.” Lin said.
The Carl Street site is a 3545sq m amalgamation of six lots which Augustine first started acquiring in 2015 costing the developer approximately $10 million.
The property is located near the Princess Alexandra Hospital and close to a public transport hub linking directly to three major universities in the area.
According to Lin, close proximity to surrounding infrastructure and accessibility were important reasons for the purchase of the site.
Additional amenity within the proposal includes a series of green communal areas, a gym, cinema, pool, rooftop bbq and car sharing scheme.
“It’s very rare to have a project in Woolloongabba especially around Buranda that has so much green communal space,” Lin said.
Lin, 32 years old, has made a decent impact on the south-east Queensland market in the short time frame since launching his property career in Brisbane in 2015.
Augustine anticipate to deliver the Woolloongabba site in two stages and are yet to indicate a construction timeline.
This development will ensure that Wooloongabba has a bright future, with jobs being created and modernisation of the area giving a rosy outlook for locals.