CONSTRUCTION of the $850 million Yeerongpilly Green Transport Orientated Development has moved a step closer, after the Queensland Government last week announced the selection of a preferred tenderer for the 14-hectare project.
Queensland Deputy Premier and Minister for Infrastructure and Planning Jackie Trad said Queensland company Consolidated Properties, in a joint venture with LJCB Investments, would construct the project over two phases, with the final phase being completed in 2024.
"This is about providing strong economic benefits to South East Queensland and transforming Brisbane's inner-south," Ms Trad said.
"The nine year project will deliver an economic injection to the area and is expected to support around 250 jobs during construction, and hundreds of ongoing retail and hospitality jobs once the development is completed.
"The State Government will deliver about $30 million of community amenities throughout the development, including 1.8 hectares of parkland and open space.
"The development also adjoins the Queensland Tennis Centre and Yeerongpilly rail station, providing excellent public transport links and is only eight kilometres from the CBD.
"The urban village will include more than 1100 environmentally sustainable residential apartments, boutique shopping and restaurant experiences, a supermarket and specialty stores, and a 103 room boutique hotel."
Chairman of Consolidated Properties, Don O'Rourke, said the development was an important vote of confidence in the Queensland construction industry.
"The benefits of a project like this cannot be underestimated – it will change the face of the area and highlight all that Queensland has to offer.
"As a Queensland based business we are pleased to be working with the Government to revitalise the Yeerongpilly Green site and in turn, provide real job opportunities to Queenslanders."
Consolidated Properties and LJCB Investment Group will now enter into exclusive negotiations with the State Government to finalise a development agreement and plans will then be submitted to Brisbane City Council for development approval.
Construction will be handled by Hutchinson Builders.