THE Brisbane City Council has approved the next stage of Mirvac’s $1 billion Waterfront Newstead community, the Sky Precinct, in Brisbane.
The decision paves the way for Mirvac to launch the project early next year. The 25-level building will feature 143 apartments designed for owner-occupiers. Located at 57 Skyring Terrace in Newstead, it will also include retail and a ground-level tropical oasis designed in conjunction with landscape architects RPS, which will connect to and expand Waterfront Park. Work is anticipated to commence on site in the coming months on a new Waterfront sales and display suite.
Head of residential Stuart Penklis said Mirvac had proactively engaged with the community and council, which was in keeping with the Newstead and Teneriffe Waterfront Neighbourhood Plan.
“We are thrilled to now have approval to bring this exciting vision to life,” he said. “Our focus has been on creating a building that will become a true landmark of the Brisbane City skyline and a lifestyle destination that does full justice to its prominent location, on the Brisbane River, with an array of amenity at the doorstep and just two kilometres from the CBD,”
Mirvac started developing its vision for the Waterfront Newstead masterplan in 2001 and has delivered the first three stages – Pier, Park and Unison, with development approval in place for another future stage, the Shore Precinct.
Penklis said Mirvac was planning to push the button on the Sky Precinct as the next stage, due to strong interest from potential purchasers and the opportunity to deliver the expanded green open space to the community as soon as possible.
“We have already been receiving interest from potential purchasers, who love the Newstead area and are impressed by our vision for the Sky Precinct,” he concluded.