Mothballed amid rising volatility in the construction sector, a Brisbane tower project touted to “lead the renaissance” of a city fringe suburb has been resurrected.
Developer Keylin has quietly started turning dirt again on its Art Deco-inspired Oria development at Spring Hill on the CBD doorstep.
Meanwhile, it also has filed revised plans, fine tuning the tower’s design.
Under the proposed changes—largely relating to its internal layout—the scheme has been bumped up from 15 to 18 storeys. However, the building envelope and height technically remain the same.
“The proposed changes to the approved development represent a finer level of detail and are the consequence of detailed design and construction management,” the planning documents said.
Among the proposed changes is the addition of a third penthouse, taking the project’s overall yield to 133 two, three and four-bedroom apartments.
As well, the reworked plans include amendments to its rooftop terrace with the relocation of the pool and inclusion of a cinema, library and games room. Minor changes are also proposed to the tower’s foyer, setbacks, overall site cover and facade greenery has been removed in the redesign.
Queensland-based builder CoStruct has been appointed to deliver Oria and completion is scheduled for late 2026. Excavation and basement works recommenced on the site four months ago.
Keylin managing director Louis Cheung said the project’s resurrection was a significant milestone.
“With a level of stabilisation returning to the market and an experienced construction team behind us, we have the confidence and capacity to move forward and it’s an exciting time,” he said.
“We expect to see the first residential levels rise above Gregory Terrace early next year.
“It’s a significant milestone for the project team, who have worked tirelessly to move forward with an updated development plan and an experienced construction team with strong credentials, who are supporting our goals to engage closely with neighbors and the community along the way.”
In April last year Keylin paused the project in the face of soaring construction costs and crippling labour shortages. It had contracts signed for 80 per cent of its apartments and all deposits were returned.
The move came a year after its decision to scrap the other half of what was initially planned as a twin-tower development and home to the city’s first Movenpick Hotel.
Keylin paid $9.25 million in mid-2020 for the L-shaped 3700sq m holding at 447 Gregory Terrace, which fronts Brisbane’s 65ha Victoria Park—a potential site for the 2032 Olympics main stadium.
Cheung said Keylin had made the difficult decision to put Oria on hold to safeguard its delivery after escalating construction costs and labour shortages made the project unfeasible in the volatile market conditions.
“The market conditions saw us go back to the drawing board to improve the project’s buildability, while preserving its architectural qualities,” he said.
“Initially, this saw the number of apartments at Oria increase from 121 to 132, providing a mix of two, three and four-bedroom floorplans.
“We have also recently lodged a design amendment to include an additional penthouse to the top residential floor alongside improved resident amenities, and Oria will continue to present as a 15-storey building.”
Cheung said to give buyers confidence, Oria would not be relaunched to the market until mid-2025 when its construction was “significantly advanced”.
“Original purchasers in the project would be given priority first access,” he said.
Oria’s architecture, landscaping, and interior designs are a collaboration between MAS Architecture Studio, WILD Studio and Jackson Teece.
Keylin has declared the elevated Art Deco-inspired development will complement and “uphold the grandeur and elegance of Spring Hill’s rich architectural heritage”—one of Brisbane’s oldest suburbs.
*This post was originally published on https://www.theurbandeveloper.com/articles/keylin-spring-hill-brisbane-tower-art-deco?utm_source=TUD+Mailing+List&utm_campaign=72c48084b0-daily_briefing_world_2024_12_06_COPY_01&utm_medium=email&utm_term=0_982c36d415-72c48084b0-195663826
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