Urbis, on behalf of Singapore’s AustralAsian Property Group, has lodged a BTR development application designed by ThomsonAdsett with State Development Queensland, for 240 apartments in a 31-storey tower in Bowen Hills, an inner north-eastern suburb in Brisbane, and next to Herston Private Hospital.
At least 15% will be affordable housing.
Medical suites provided on floors 1 – 4. Retail tenancies are provided on the lower ground, ground, and mezzanine levels.
There would be a mix of studio, one-, two- and three-bedroom apartments, and at least 10% would be adaptable. There will be a communal recreation space for residents to enjoy on floor 11 and a public bar on floor 30.
It sounds like an enticing package for seniors; and BTR has some significant dollar and service benefits over a retirement village.
The Retirement Living Council, an arm of the Property Council of Australia, predict 18,000 retirement dwellings will be built from 2023-2030. Currently, there are 13,265 BTR units under construction, with completion within three years. In addition, there is a pipeline of over 32,000 BTR apartments, pending planning approvals.
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