Glen Brown’s Reside Communities gets nod for $100M 200-unit vertical retirement village at Brisbane golf club – 97% of submissions in favour

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Brisbane City Council has approved the village operator’s plans to build 200 units across seven three- to six-storey buildings (pictured) in three stages at the Pacific Golf Club in Carindale, 13.5km from the Brisbane CBD.

The clubhouse will be removed to build the units and a new clubhouse developed as part of the first stage, while the grounds will be reconfigured to keep the 18-hole golf course and maintain the nine-hole par three.

While some residents raised concerns about the project, Councillor Ryan Murphy (Chandler) told the Courier-Mail there had been “overwhelming support” from the community for the plans with over 97% of the 573 submissions supporting the proposal.

The Club’s president Craig Austen added the development would take in 3% of the total 50ha of green space already developed and would put the club in a financial position to stop the loss of land caused by asset sales over the past 20 years.

The apartments are expected to be priced from $490,000 for a one-bedroom, $595,000 for two bedrooms, $685,000 for a two-bedroom plus study and $850,000 for a three-bedroom apartment with double car space.

Reside is backed by GreenFort Capital, a boutique Brisbane-based real estate funder with a background in student accommodation developments, and the $11 billion Hong Kong property fund Gaw Capital Partners and already has two villages in its portfolio plus plans to build 348 vertical apartments on QLD’s Hope Island.