David Devine’s Metro Property Development group has increased its commitment to the inner-Brisbane apartment market, with approval granted for an $80 million project in South Brisbane. The 12-level development, called The Plaza, has been designed by architects Deicke Richards and is due to be built at the corner of Russell and Manning streets on a 2,270-square-metre site and will feature 168 apartments.
Off-the-plan marketing of the project will begin later this month. It will offer a mix of one- and two-bedroom apartments, ranging in price from $330,000 to $575,000.
The project will take the value of Metro’s approved apartment developments in Brisbane to more than $400 million.
Metro currently has 1,337 apartments under construction or approved for development in inner Brisbane and a further 950 apartments in the pipeline.
See Property Observer and Prior Post
Comment emailed to me by a reader, after this post was published:
"I came across your blog while searching for a project called The Plaza by developer Metro as you would probably know about. I was basically doing more research on the project as I may be interested in investing in it. Upon researching I found out that Aria would build one called the Vines directly in front of The Plaza which probably would have The Plaza looking to another building rather then the great city views it promises. Bascially from reading through your blog, you have given your opinion on Vines being too expensive...i agree btw."