PROPERTY veteran Norm Rix expects the welcome mat to be out in January for the first customers to his biggest venture in a 60-year career, the $100 million Pimpama City shopping centre.
The developer yesterday said that he was determined to make the district centre “something really special” but that it would not be his swan song.
“I know I’m running out of time at 82 so it’s full steam ahead with Pimpama City,” he said.
“I’m sure other opportunities will come along and I won’t be able to say ‘no’.”
Final planning approvals for the 18,000sq m Pimpama City were gained last week.
The centre is to be anchored by blue-chip majors Coles, Aldi and Best and Less.
It is in the heart of a suburb named by the Housing Industry Association as the nation’s No. 1 residential hotspot — its population grew 35 per cent in 2015-16.
Mr Rix said this growth would ensure Pimpama City would “buzz”.
“It will be a beehive for not just Pimpama but for Jacobs Well and indeed Ormeau,” he said.
Pimpama City’s first two stages are under way on the 16ha balance of a larger site assembled since 2010 through purchases from Mirvac, the Main Roads Department, the city council, and a mortgagee to developer Mike Moorhead.
Some of the ex-Moorhead today is home to Kings College, which is poised to name a community hall after Mr Rix.
Stage one of Pimpama City will consist of a Coles Express service station, a Zarraffa’s coffee outlet, Subway and other food outlets, a Pitstop convenience centre, laundromat, six-bay car and boat wash, and three dog-wash facilities.
The second stage, apart from the majors, will include 26 speciality stores, a Chemist Warehouse, KFC, Hungry Jack’s, National Australia Bank, Jetts gymnasium, a medical centre, and parking for 700 vehicles.
The 1810sq m Aldi outlet will be a new format one that will include fresh food and produce.
Mr Rix said he expected the second stage to be open by September next year.
He said he was still finalising plans for the 7ha balance of the Pimpama City site, with options including bulk-goods outlets, quasi-government tenants, a private hospital, and a retirement home.
The developer’s first retail foray was the Ashmore City centre, which he sold for $30.7 million in 1998.
He subsequently has built three Pitstop strip centres and four years ago completed the $70 million Coomera Grand at Upper Coomera.
Originally Published: www.goldcoastbulletin.com.au
City Council Backs Brisbane Olympic Bid
He was the sole voice of opposition to Brisbane City Council’s bid to host the Olympics but Greens councillor Jonathan Sri is adamant the negative impacts outweigh the positive.
The council’s confidential meeting this week included briefings from president of the Australian Olympic Committee (AOC) John Coates and the president of the Paralympics Committee Jock O’Callaghan.
The vote to formalise Brisbane’s commitment to the Games has paved the way for a formal bid to host the 2032 Olympic Games. It received bipartisan support with Sri the only dissenter.
Media and the public were barred from the meeting, to protect the locations of potential developments and any impacts it would have on property prices, the council said.
“While hosting undoubtedly offers some positive opportunities, after considering all the available information, I was concerned that the negative impacts upon our city will outweigh the benefits,” Sri said.
“Evidence from recent Olympics points to major cost overruns, significant disruption to residents, superfluous sports infrastructure that’s not as useful long-term as proponents might have suggested, and economic benefits flowing predominantly to major corporations rather than local businesses.”
Sri said taxpayers would have to foot the bill, estimated to be about $900 million, to develop new sporting venues.
An IOC feasibility study highlighted Brisbane’s need for about 20 per cent more sporting facilities.
Sri said the council and state governments were negotiating with the IOC over a new 50,000-seat stadium earmarked for Albion.
The Brisbane bid includes plans for seven new venues across the southeast corner, but that could be reduced to two with the use of existing facilities.
“While some of the infrastructure built for the Olympics can certainly leave a positive legacy and lasting public benefit, it’s almost inevitable that we’ll also spend public money building Olympics-standard sports facilities that we don’t really need and wouldn’t otherwise waste money on,” Sri said.
Brisbane was announced as a preferred candidate in February.
Lord Mayor Adrian Schrinner said the formalised commitment to the Games bid had received bipartisan support which was a “strong result”.
He said the Games presented a good value proposition for the city and he hoped they would receive the green light as early as July, when the Tokyo Games were due to begin.
“Brisbane City Council voted yes to the jobs that will be created, yes to the opportunities this will bring to our city, yes to the opportunity this will bring to our region and our state and yes to the bring forward and fast tracking of infrastructure and investment in our region that will service the needs of a growing population,” Schrinner said.
The final submission from the three levels of government and the AOC is due in April.
Article Source: theurbandeveloper.com
Springfield Goes Global in Search for $15bn Developer
Springfield City Group has gone global in its search for a partner to help deliver its $15-billion Knowledge Precinct that will complete the masterplanned Springfield CBD.
The precinct will be the key commercial area in the Queensland city’s CBD and has been approved for 1.22-million sq m of commercial space and 5340 apartments on 119ha of developable land.
The group has now put out a tender for a global partner, which it expects will garner attention from Australian as well as international firms.
The group’s chairman Maha Sinnathamby said the precinct would be anchored on three key pillars for future economic growth: health, education and technology.
“This (global tender) initiative will turbocharge the development of the Springfield CBD. This project represents a unique opportunity to join us in creating a legacy,” Sinnathamby said.
“The completion of a futuristic city, harnessing innovative thinking, will make a real, positive impact on economic growth and job creation in southeast Queensland.”
Sinnathamby said the SCG had a 29-year track record as the master developer of Springfield City and had successfully partnered with some of the country’s leading property groups to build the masterplanned community, which is 24km south-west of Brisbane.
The Knowledge Precinct is estimated to be worth about $15bn upon completion and could support a city population of more than 145,000 people through the development of Health City, Education City and IDEA City, across the development pillars for economic success.
The city is expected to be valued at about $88bn when completed and Sinnathamby said it was on track to become Brisbane’s second CBD.
The city continues to grow with major stakeholders including the Mater Hospital and University of Southern Queensland developing plans for expansion.
Springfield City Group deputy chairman Bob Sharpless said there was still ample opportunity for development at Springfield as just 25 per cent was currently developed.
“With considerable established infrastructure, 11 schools, residential developments, a hospital, existing local and regional transport links such as highways and two rail stations … we are already well on our way to becoming an economic centre for southeast Queensland,” he said.
“With the right partnership in place we will usher in the next chapter for our city.”
The population of Springfield City is forecast to grow by 5.8 per cent per annum during the next 15 years, tripling its current population to about 115,000 by 2036.
Moelis Australia is assisting the group with its competitive global tender process. Initial discussions are to begin in the coming weeks while an outcome and preferred partner are expected to be announced later this year.
Article Source: theurbandeveloper.com
Surf Park Planned for Gold Coast Resort
Parkwood Village has announced plans to build a ‘world-class’ wave pool by 2023, forming larger plans for its already approved integrated resort and leisure precinct on the Gold Coast.
The Club at Parkwood Village announced it signed a partnership deal with Canada-based waterpark manufacturer WhiteWater to build the man-made waves—a $35-million Endless Surf pool about 10km from Surfers Paradise.
An integrated resort has already been approved for the 76-122 Napper Road club site in Parkwood. Now the company says it will take new plans to the Gold Coast City Council with the aim of a two-year project timeline, subject to approvals.
Parkwood managing director and founder Luke Altschwager says the proposed development would become a “world-class” integrated golf and surf resort with the Gold Coast’s first surf park to sit alongside the existing 18-hole golf course.
“I want to make sure Parkwood becomes the heart of the sport here on the Gold Coast,” Altschwager said.
“Not only is a world-class surf pool a perfect fit for our active community, it anchors a whole new level of economic investment in the area.”
Plans for the man-made surf park on the Gold Coast join the likes of the Kelly Slater-backed Surf Ranch at the Sunshine Coast proposed by Brisbane developer Consolidated Properties Group, and Urbnsurf’s first Australian location, in Melbourne.
The Parkwood club received the green-light to build a $160-million retirement village with 219 apartments plus leisure facilities last year.
It has approval for a 200-plus-bedroom hotel and residential apartments to expand its hospitality, medical and commercial services.
WhiteWater built its first surf pool in 1989. Last year it announced surf projects in Vietnam, a luxury resort in Punta Cana in the Dominican Republic, and Paris.
Its technology offers waves to suit beginners to professionals, with customisable waves ranging in size from two-to-seven foot every 10 seconds for rides of up to 26 seconds.
Altschwager said Parkwood Village will spend the next few months working with the community and council to reconfigure the current development approval to incorporate the new surf lagoon and upgrades to the golf course.
The Endless Surf pool is expected to include a beach-like lagoon.
Altschwager says he aims to have the project up by 2023, subject to approvals.
Article Source: theurbandeveloper.com
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