Two developers short-listed to transform regeneration site
LOS ANGELES: Two developers are vying for the right to create a multigenerational living community on a river-side regeneration site.
The state government has short-listed two developers to transform South Brisbane’s former Visy site into thousands of new homes and more public spaces.
The final two proponents have both committed to redeveloping the entire 7.1ha prime riverfront site, earmarked for potential new entertainment spaces, riverfront promenades, event lawns, and community spaces along with new buildings up to 274m high – about 80 storeys.
Their identities remain commercial in confidence while Economic Development Queensland undertakes an independent evaluation process before the successful proponent is announced before the end of the year.
“We had heaps of interest,” Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said.
“The Visy site is a huge site and made up of multiple blocks of land and I was really worried that there would be no player big enough to do the whole lot.
“I can announce … we have short-listed two proponents for the whole site”
Developers were asked in October last year to share their vision for the glass recycling and manufacturing facility along Montague Rd.
Artist impressions of what the site could look like, released by the state government at the time, included an over-river pool, boardwalks and boating facilities in front of multiple soaring high-rises.
Located 1.3km from the Brisbane CBD between South Bank and West End, the government-owned site is about half the size of the existing South Bank Parklands
It was bought by the then Labor government in mid-2022, and will be vacated by 2027.
Property Council of Australia Queensland executive director Jess Caire said the short-listing of two proponents for the Visy site was an exciting step forward for one of Brisbane’s last remaining riverfront sites.
“This opportunity has all the hallmarks of a city‑shaping, mixed‑use precinct, with increased public realm, improved connectivity and a new iconic riverfront destination that showcases one of the city’s greatest natural assets,” she said.
“The pace at which this process has moved to this critical stage is encouraging and a timely reminder that when the private sector is engaged early, the benefits will also be realised sooner, which is a win-win for community, the city and the state.
“We look forward to seeing this site move from vision to delivery and becoming another iconic Queensland precinct.”
The redeveloped Visy site will adjoin the former Hanson Concrete Plant on Nott St, where Heidelberg Materials have lodged an application for three 50-storey mixed use towers and 5400 sqm of riverside parkland.
Further along Montague Rd is the 1.8ha industrial site under the William Jolly Bridge next to GoMA, operated by French dairy giant Lactalis, who announced in January it would be selling to developers.
Mr Bleijie has also revealed the $500m round two allocation of his department’s flagship $2bn residential activation fund has attracted 208 applications to unlock developments worth $3.32bn.
He said given the level of interest in the fund, the state government was weighing up whether to bring forward funding for round three, while round two applications were assessed.