26 April 2006
The most comprehensive inner-urban transformation underway in any Australian capital city is set to further reinforce Brisbane's mantle as the most liveable city in the nation.
Private projects, such as Citimark's boutique Evolution tower, are particularly well placed to benefit from such enormous and exciting growth.
Over $1 billion in private and public ventures, adjacent to the city's central business district (CBD), will combine to deliver a major new precinct spanning the north bank of the Brisbane River along George and Roma Streets.
From sleepy town to growing river city to funky new metropolis in just 25 years. Few western cities worldwide have done it so quickly or so well!
Citimark's Evolution is the only new waterfront residential development available in the CBD and the only residential tower underway in the CBD this year.
That makes it an extremely rare commodity, even in the white-hot heat of a Queensland economy fuelled by massive population growth and a resources boom of historic proportions.
Evolution's buyers can capitalise on a late 2008 settlement date to realise strong potential growth in values at a time when the area's renaissance will be in full swing.
The $120 million Evolution residential tower is to be located on the corner of Tank Street and North Quay, directly overlooking the Brisbane River.
With views that can never be built out and an exclusive river frontage, Evolution will comprise 178 uniquely designed apartments over 37 levels.
The building also offers a residents-only Sky Lounge on Level 36, and Recreation Deck on Level 6 including heated lap pool and spa, barbeque and kitchen facilities, media and library room, and a fully equipped gymnasium.
The tower is the design work of leading Brisbane architects and tower specialists Cotter Parker, and already premium Queensland construction firm Hutchinson Builders has commenced demolition works on the site.
Evolution will be all about lifestyle and investment.
And what a kaleidoscope of experiences and activities its new residents will have at their doorstep!
The State Government's $500 million Northbank project will be out of the ground, delivering a mirror image of groundbreaking Southbank, with a vibrant array of mixed retail and commercial operations.
Southbank's own burgeoning cultural precinct, including the new $300 million Millennium Arts Centre and redevelopment of the Queensland Museum, will also be a reality.
Indeed the proposed new $63 million pedestrian bridge to the southside will bring all the verve of West End's entertainment and restaurant precinct within genuine walking distance from Evolution.
Also in the pipeline is Queensland Place — a re-defining of the King George Square precinct from George St to Roma St, incorporating tree-lined boulevards and a more pedestrian-friendly precinct.
The Queen Street Mall — one of the nation's most successful CBD shopping destinations — is another one in for major works with a significant extension likely to provide an even higher retail experience and larger variety of shopping outlets.
And Evolution developer Citimark itself also has begun work on a $15 million rejuvenation of the old Magistrates Court building neighbouring Evolution.
It's a great story for the grand old city that many once dubbed a glorified country town, but one that today sees the city as a genuine contender for the leading light amongst all the state capitals.
The company currently has 21 projects under development including the recently completed $25 million luxury beachside resort — East on Byron in Byron Bay; and a new $35 million, 25ha industrial and business park on the former Mitsubishi engine plant site in Lonsdale in Adelaide's southern suburbs.
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