Townsville’s proposed $136.6 million City Waterfront Project is encouraging news for Townsville investors eager for some positivity amidst a flat rental market.
The Waterfront project could evolve into a $1.9 billion premier urban precinct, transforming an estimated 97.2 hectares along both sides of Ross Creek, adjacent to the CBD, into a vibrant community area.
The development vision features high density residential apartments, retail and commercial facilities, bars, restaurants, galleries, a stadium and convention centre, as well as outstanding public spaces and parklands to accommodate and entertain the 30,000 people expected to be living, visiting and working in Townsville’s CBD by 2030.
Townsville Rentals manager Leah Riddle says the flow-on effects to the rental market are obvious.
“By creating an attractive, engaging urban setting, the CBD will be targeted for more business, development and investment, and consequently Townsville will become a desirable destination for workers and their families.
“The more movement and growth we see in Townsville’s economy, the more demand there will be for quality rental properties across the greater Townsville region.
“To put it simply – we cannot wait for this to become reality.”
State Government, Townsville City Council Local and Port of Townsville will partner to achieve this development. The project is currently on public notification until Tuesday 18 August, stimulating great interest and excitement across Townsville.
The final plan for the area could be released as soon as November.
- View TCC’s 3D vision for The Waterfront – https://www.youtube.com/watch?v=mL1MNhGyYy0&feature=youtu.be
- Townsville City Council Waterfront PDA fact sheet – http://www.townsville.qld.gov.au/business/economic/Documents/Waterfront%20PDA%20Factsheet%20final.pdf
- Draft copy of the proposed development scheme, including concept images – http://www.statedevelopment.qld.gov.au/resources/plan/pda/townsville-city-waterfront-pda-proposed-development-scheme.pdf
- FAQs – http://www.statedevelopment.qld.gov.au/planning/priority-development-areas/townsville-city-waterfront.html