Belmonde Property Group and Sun Luxe Group lodge DA for its four tower $1.5bn Gabba Heart Precinct

Artist’s impression of the four-tower $1.5bn Gabba Heart project.

Developers are gearing up to take advantage of the 2032 Olympics, with a multi-billion dollar wave of apartment projects on the way.

Billions of dollars of apartment towers are being built, have been approved or still on the drawing board within a short walk to the Gabba which will become the main Olympic Stadium.

The $6.3bn Cross River Rail opposite the Gabba is due to be completed in 2025 and is complemented by the $450m Metro station and other infrastructure projects, ensuring the precinct is well-connected.

A Colliers’ report – Precinct’s of Gold – pinpointed Woolloongabba as a suburb presenting a unique opportunity for developers because of the availability of land sites – such as old industrial lots and retail, ripe for apartments and mixed use projects.

“With significant investment underway now with the Cross River Rail and a further billion dollars to be invested in the Gabba, it is likely going to drive demand for new accommodation and thus retail growth,” the report said.

“This in turn will further promote new residential development and urban renewal corridors, driving population growth for the precinct.”

The latest apartment development is a joint venture between developer Belmonde Property Group and Sun Luxe Group who have lodged a development application with the Brisbane City Council for the four tower $1.5bn Gabba Heart Precinct on a 9361sq m site at 79 Logan Rd, Woolloongabba.

The project will have three towers and will house more than 1387 build-to-rent apartments, while the fourth tower will provide a hotel with 230 rooms and serviced apartments. They will be between 36 and 41 storeys.

Cottee Parker director Martin Timms says the Gabba Heart Precinct will do for Woolloongabba what the James Street Precinct did for Fortitude Valley.

“This project will reactivate the heart of Woolloongabba, embracing Brisbane’s subtropical climate and showcase the best of Queensland’s unique climate and lifestyle with iconic architecture,” he said.

“The projects vision also includes upgrading Logan Rd to a high street that will maximise the existing road width and create a vibrant space for a new retail precinct.

“This is the first of what I’m sure will be many developments to meet the needs of the 2032 Brisbane Olympic Games.”

Artist’s impression of the four-tower $1.5bn Gabba Heart project.

The project will also include upgrades to the adjacent Jurgens Park and transform the existing site into a vibrant community focal point with art installations and improved embellishments.

Each tower will include amenity on both the podium level, and the towers will have extensive recreational amenity at the rooftop level.

The towers will rise above three podiums and offer a variety of retail and food and beverage establishments.

Some of the other planned projects in the precinct include Trenert Group of a $1.2bn mixed-use development project on a 1ha site at Stanley St, Woolloongabba, with the heritage-listed Railway Hotel – which last operated as the Chalk Hotel eight years ago – at the centrepiece of plans that transform almost an entire block.

To be called Station Square, Trenert plans to deliver 200,000sq m of gross building area by 2030 — including a 40-storey-plus five-star international hotel with 320 suites, 36-level residential tower with 165 apartments, 18-level short-term accommodation tower and 16-level tower with 114 social and affordable housing units in partnership with community housing provider BlueCHP.

In April, Trenert managing partner Peter Priest said the project team plans to deliver the project in time for Brisbane 2032.

A $1.2bn proposal for a world-class, mixed-use development project on a 1ha site at Stanley St, Woolloongabba.

“The government investment in the Gabba stadium and Cross River Rail are the catalysts for the transformation of the Gabba, and this is an investment in that vision,” Mr Priest said.

“We’re looking forward to delivering much needed housing as part of the Gabba transformation, putting homes adjacent to transport infrastructure and creating a vibrant 24-hour precinct.”

Sydney luxury apartment developer Sarazin has spent more than $60m to control 1.4ha of development land on a 100m plus stretch of Wellington Rd, between Overend and Hampton streets, in Woolloongabba.

Pellicano and Perri Projects’ $700m plus South City Square is well under way on its billion-dollar plus South City Square mixed use development, which by the time it is completed will have delivered seven buildings ranging between 15 and 18 storeys plus retail and entertainment.

Work has started on its latest tower, the 15-level Hillyard House.

Giant retail landlord Vicinity Centres early this year was given the green light for its $750m transformation of Brisbane’s Buranda Village, at 264 Ipswich Rd, with the shopping centre to become home to more than 620 apartments and up to 50,000sq m of commercial space.

A development application was recently lodged for a slender 20-storey tower that will house 203 apartments at 109 Logan Rd at Woolloongabba.

Simon Beirne, state chief executive of Colliers Queensland, said the Wolloongabba precinct was set to benefit from a wave of projects.

“While new businesses and markets are looking to capitalise on the Woolloongabba precinct’s future connectivity, structural uplift, and government investment, further opportunity remains with many vacant industrial lots and secondary and trade focused industrial sites, particularly along Deshon St,” he said.

“With its proximity to the CBD, M1 motorway and Busway station and now the addition of being less than 2kms from the Olympic stadium precinct at Woolloongabba, the Stones Corner retail hub could also be repositioned to attract heavy footfall once more.”