Plans are afoot to transform a Brisbane paint factory—once the largest in the southern hemisphere—into Australia’s first fully-integrated arts village.
Brisbane-based Montague Developments originally proposed a residential redevelopment for the former industrial site at 115 Hyde Road, Yeronga—home to the Taubmans paint factory from 1952 to 2015, which was purchased for $10 million by Queensland-based owner Hyde Road Pty Ltd.
Having withdrawn their original residential development application with Brisbane City Council, a spokesperson said the project team will draw on feedback received during the community consultation process to lodge a revised application that includes a change of use from the current zoning of industrial to mixed use.
The number of units in the revamped design has not been released, and with a change of use application and formal development application yet to be submitted to council, local councillor Nicole Johnston expressed concern over the exact nature of the redevelopment.
“The decision by the developer to withdraw the DA for high-rise units at the old paint factory site is good news given the high level of community concern around over-development,’’ Johnston said.
“But at this stage the future of the site remains uncertain while the developer explores further options.’’
Montague director Paul Hey said the revised proposal for the site in Brisbane’s southside, expected to be submitted “in coming weeks” comprises a mixed-use environment within a world-class “arts village” housing permanent galleries and artists’ residences while retaining some of the industrial character of the old warehouses.
The shift follows extensive community engagement as well as input from artists who already have studios in the complex.
“While discussions have been taking place with council and the community over recent years, the warehouse-style buildings of the paint factory have been used by local and international visual artists to create their work and meet with like-minded creatives.
“This initially temporary use has over the past 4-5 years organically grown, and the arts village concept will build on that arts community which already calls the paint factory home, ” Hey said.
Said to be a first of its kind for Australia, the Paint Factory Arts Village would be an integrated space for a range of artistic and creative endeavours in an open and industrial setting, with architecturally-designed residences and communal spaces.
“We plan to create a permanent address that features artists, art galleries, event space, artisans, micro brewer, coffee roaster, pop-up fresh produce and an artisan market, community, educational facilities, visual artists and other creative professionals, living and working on the site alongside stunning homes, artists-in-residences and large areas of landscaped open space,” Hey said.
The project takes inspiration from Brisbane’s Powerhouse arts venue along with developments and collectives both in Australia and overseas that have re-imagined and energised redundant land uses, including the Abbotsford Convent in Victoria; Germany’s Alte-Spinnerei and Miami’s Wynwood Walls.
Hey said that through the paint factory project, Brisbane has the opportunity to become an essential Australian destination for arts professionals and interested community members, rivalling Melbourne and Sydney.
Plans for the arts village will draw on the existing industrial buildings for the artistic component of the development and will also include a “diversity of residential uses” spread throughout for both artists and residents.
Brisbane artist Ryan Presley, who has been using studio space at the Paint Factory since 2017 said it had been of major benefit to his work.
“Due to the number of artists working at the site, there is an informal collective dynamic, where we can bounce ideas off each other and support studio experimentation.
“I’m excited about plans for the future of the Paint Factory because there isn’t another a space like it—international curators who have visited the studios tell us that it stands out, even compared to places in Europe,” Presley said.
This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.
New apartment developments pop up in prime locations in Brisbane, Gold Coast, Sunshine Coast
Located in the new CBD in Maroochydore, this Sunshine Coast development will offer 146 apartments in two towers.
Buyers will have the choice of two and three-bedroom configurations, along with a limited selection of penthouses, each offering sought-after views of the coastline and picturesque hinterland.
The development also encompasses six small office terraces, as well as retail and dining.
Embedded within the brand new City Centre precinct, the project is set to enjoy all the perks and amenity of the budding development hub, affording it a 90/100 walk score.
It is situated directly opposite the new town square and a two-hectare park, part of a sizeable chunk of the CBD site earmarked for open space.
Designed with investors and developers in mind, the mixed-use precinct will feature smart technology throughout, including technology-assisted parking, real-time public transport and community updates, wifi hotspots, safety systems and electric car charging stations.
Some 40 per cent of the 53-hectare site will be kept as open space, and waterways will be integrated throughout.
Market Lane itself will offer 450 square metres of ground floor retail and dining, along with a rooftop terrace on one of the towers, replete with an entertaining area and private dining room.
Other amenities available to residents will include a 25-metre resort-style pool and barbecue leisure space in the centre of the development.
The towers will also feature secure access, lifts, an above-ground car park, CCTV, and an on-site facilities manager.
Article Source: www.domain.com.au
First home buyers flood back into market on low rates, rising house prices
First home buyers are flooding back into the property market lured by ultra-low interest rates and government support, with two of the nation’s biggest mortgage brokers experiencing a surge in loan applications from young buyers.
AFG, a major listed wholesale broker, reported a 30 per cent annual jump in its total home loan applications in the latest quarter, as other brokers including Mortgage Choice also said they had seen sharp growth during the summer.
But while the lending surge is underway, analysts are predicting a modest rise in foreclosures as banks stop offering automatic home loan deferrals for customers thrown into financial stress by the pandemic.
AFG chief executive David Bailey said the company’s latest figures showed 22 per cent of loan applications lodged by its brokers in the latest quarter were for first home buyers, compared with the historical average of about 12 to 13 per cent of loans going to first time buyers. Mr Bailey said government incentives for first home buyers and rising prices were helping to fuel the strong demand.
“As we are starting to see clearance rates improve and prices rise across the country, people are starting to worry that they might miss out. They are probably bringing their decisions forward … to take advantage of the incentives,” Mr Bailey said in an interview on Wednesday.
Investors made up only 21 per cent of AFG’s loan applications, the lowest percentage on records going back to 2013.
Australia’s property market proved to be surprisingly resilient to shock from the pandemic, with prices rising in late 2020 after official interest rates were slashed to just 0.25 per cent and banks allowed struggling property owners to put their repayments on pause.
Mortgage Choice chief executive Susan Mitchell said over the past two months the market had been “very buoyant,” with loan applications up by 25 to 30 per cent compared with a year earlier. Ms Mitchell also noted the surge in first home buyer activity, saying these buyers accounted for almost 25 per cent of applications, up from 13 to 15 per cent normally.
“We are seeing the first home buyers back at the same level that we saw back in 2009,” she said.
Mortgage broker Homeloanexperts.com.au said inquiries since December were more than 60 per cent higher than the same period last year, also citing strong interest from first home buyers and expats returning to Australia.
Alongside government support for first home buyers, banks have also cushioned the housing market by allowing customers to pause repayments temporarily, but most borrowers will have to make their usual payments from March, when several government stimulus programs also end.
The end of all these stimulus measures and supports simultaneously could result in a small lift in foreclosures, property data analysts SQM Research managing director Louis Christopher said, but he was not concerned about a “mass forced sale event”.
“The banks have done well in managing the loan deferrals. They have shrunk from their peaks at the beginning of the pandemic,” Mr Christopher said.
“The leniency and the patience of the banks is stopping there from being any tsunami of forced sales. There will naturally be a slight increase in foreclosures [at the end of the repayment holidays] but not a severe spike,” Mr Driscoll said. “Everything last year was pointing to foreclosures and price falls but it’s just business as usual.”
Article Source: www.brisbanetimes.com.au
Tight rental market forces tenants to find their edge or risk losing out to competition
With vacancies rates dipping below 1% in parts of the region and a surge in demand, competition for rental properties is fierce in South East Queensland. Renters currently applying for properties are being forced to put their best foot forward to put them ahead in the eyes of landlords.
Managing Director of Solutions Property Management Laura Valenti said there had been a staggering increase in property demand over the past few months: “Demand is extremely high. In fact, I have never seen such high demand and low supply,” she said.
“We manage over 1000 properties in the greater Brisbane area and since the beginning of November 2020 our vacancy rate has been zero.”
With so few available rental properties, having an edge over other applicants is vital. While some people are offering more rent than advertised, some tenants are seeing better outcomes after completing a free, online tenancy skills course developed by the Tenancy Skills Institute.
The course was developed after extensive consultation with property managers, and covers the top four skill sets identified as crucial to a positive tenancy; communication, rights and responsibilities, maintaining a rental property and budgeting. Once complete, graduates are awarded a certificate to support future rental applications.
Tenancy Skills Institute State Manager, Mark Davidson explained tenants who complete the course will stand out from the crowd.
“Tenants who demonstrate an understanding of their rights and responsibilities, are effective communicators, budget well to pay the rent on time and maintain the property are at an advantage.
“The certificate might just make the difference on a rental application for some property managers.” said Mark.
Laura Valenti’s agency Solutions Property Management is just one of a growing number of industry supporters who agrees the course is of high value for tenants.
“It [the course certificate] would definitely put them above others who have a similar application,” said Laura.
Wendy said: “The course did me great, I found it interesting, helpful and enjoyable.
“I was finally approved for a property after completing it and moved in at the start of January.”
Article Source: www.miragenews.com
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