The Courier Mails reports that developers are building apartment buildings with smaller apartments, because that is what is selling today. Does this mean that there will be a shortage of larger, family sized apartments in Brisbane in the future?
From the
Courier Mail:
"Developer FKP recently withdrew a development application from
Brisbane City Council for a future tower at its Gasworks development at
Newstead. It was lodged in 2009 and executive director Mark Jewell
said it needed to be revised in line with the present market. The
tower, known as Parkside Boulevard, will be released in the next three
to five years. Two weeks ago, the same developer released its reworked masterplan for The Mill development at Albion. A
change in market conditions early in 2010 saw it refund deposits for
units already sold off the plan and designs changed. It has now launched
the first tower and is waiting for sufficient pre-sales before it
starts construction.
In Brisbane's CBD, Melbourne-based developer Billbergia unveiled
plans to develop the failed Vision site into a 90-storey residential
tower with about 800 apartments, a hotel and a 34-storey commercial
tower.
Bellise at Fortitude Valley had initially been planned as a 199-unit
development, but had received a new approval to reconfigure it to a
228-unit development of smaller product.
Citimark's Angus Johnson said the launch of its 200-unit Rivana development at Hamilton would wait until the market was right.
While
Stockwell plans to proceed with the 150-unit stage two and 50-unit
stage three of its Riverpoint development at West End, it has not yet
advised a time frame.
Sunland has preliminary approval for the
47-storey Carrington in Alice St in the City. Managing director Sahba
Abedian said there were conditions attached, which they were working
through."