Sunday, November 9, 2008

South Point and Buranda

"ARCHITECT-developer Tony John is willing to bet $1 billion that the run-down suburb of Buranda, in Brisbane's inner south, will be the next New Farm.Mr John has a scheme for a massive residential, retail and commercial project that can only be called immensely ambitious.

He is willing to bet that Brisbane people will be willing to pay about $500,000 for an entry-level one-bedroom apartment measuring less than than 50sq m. Big enough to swing a cat - just. He's willing to bet that they will want to live right next to the truck-laden Logan Rd, over a train line and right next to a busway in a suburb that looks like it has had too much sun and has never been known for urban chic. He's also betting that the housing affordability dilemma will mean people will question if they can afford a home and a car.

But just to show how strongly he feels about Buranda, the man who developed the oh-so-swish Emporium development in Fortitude Valley says he is less confident about his separate plans for 56 luxury apartments at South Bank projected to cost between $2 million and $10 million each. "I would not like to make that call right now," he said...."
See Courier Mail

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