This article is from the Australian Property Journal archive
THE Brisbane City Council has given the green light for Vicinity Centres’ $750 million Buranda Village transformation in Woolloongabba.
The dated sub-regional shopping centre, anchored by Woolworths and Target, and opposite Princess Alexandra Hospital, will be turned into a mixed-use precinct that features a 10,000 sqm open-air retail and dining village, up to 50,000 sqm of office, commercial and health-related space across three buildings, and more than 620 apartments across four residential buildings.
New landscaped community spaces and new car parks will also be included.
“Buranda Village is an exciting project that unlocks over 105,000 sqm of development opportunity and we’re excited to achieve this important milestone in bringing our vision to life,” said Vicinity’s general manager mixed-use development, Truman Dare.
“The development plans for Buranda Village are the result of over two years of careful planning and research to ensure the project best meets the needs of the community, today and in the future.
“Our vision is set to transform Buranda Village into an integrated retail and mixed-use precinct that complements the area’s changing demographic and forecast population growth and its prime location just a few kilometres from Brisbane CBD, next to the Princess Alexandra Hospital, and proximate to the planned Olympic Games’ sites.”
The main Olympic stadium, The Gabba, is nearby. Currently with a capacity of 42,000, it will be upgraded from later this decade into a 50,000 seater.
The Buranda Village project is targeting both a 5-Star Green Star and 5-star NABERS energy rating, while also achieving carbon neutrality for the retail common areas. It will feature e-bikes and EV charging stations, as well as subtropical landscaping and outdoor community spaces to reduce heat impacts.
Construction is will begin in early 2024, and Vicinity expects the project to create close to 580 jobs during the construction phase and more than 3,200 jobs long-term.
