YG Riverside | King Arthur Terraces - 28 Ortive Street, Yeerongpilly

Already 95 per cent of stage one residences has sold, for a combined total of $77 million in sales

Construction has begun at the $850 million Yeerongpilly Green Riverside Community, the joint venture between Don O&#39;Rorke&#39;s Consolidated Properties Group and CVS Lane Capital Partners.

The first stage&nbsp;will include 83 apartments and 10 luxury terrace homes, as well as the 8850 sqm Woolworths-anchored retail centre.

Already 95 per cent of stage one residences has sold, for a combined total of $77 million in sales, including a $1,395,000 terrace, the highest price paid in the development.

Hutchinson will be building the residential and commercial component, which will also feature a dining precinct, specialty stores, commercial offices and a health precinct - all set to be finished in mid-2023.

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Yeero​ngpilly Green Riverside, set to generate 631 full time jobs during this first stage of construction alone, will upon completion include 1200 residences, commercial and retail businesses and close to two hectares of parkland in a masterplanned urban renew​al project just seven kilometres from the Brisbane CBD.

Consolidated Prop​erties Group Chairman and CEO Don O&rsquo;Rorke said the start of construction follows years of hard work on approvals, design and community consultation.

&ldquo;Yeero​ngpilly Green Riverside has been designed holistically to include everything a community could want from health and wellness services through to shopping, public transport, parkland and premium homes that complement the local environment,&rdquo; O&rsquo;Rorke said.

&ldquo;It delivers a destination on Brisbane&rsquo;s southside away from the hustle and bustle of the CBD with well-known food and beverage operators creating bespoke dining experiences alongside Yeer​ongpilly Green&rsquo;s heritage buildings.

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&ldquo;The residences have really resonated with buyers, which can be seen from the 90 per cent sales achieved so far.

&ldquo;Buyers love the fact the community is being built opposite Yeerongpilly Station, with access via the Ashley Cooper Riverwalk to the Brisbane Tennis Centre through to the Ken Fletcher Park on the riverfront.

&ldquo;We can&rsquo;t wait for our first residents to move into what I believe will become south Brisbane&rsquo;s urban heart. These residents &ndash; and the broader community - will also be able to enjoy a vibrant new retail centre and urban village, which will be finished at the same time as the apartments and terrace homes, meaning our first residents will be able to shop once they move in.&rdquo;

&ldquo;Importantly this first stage will generate 631 jobs during construction with hundreds of ongoing positions upon completion of the retail centre.&rdquo;

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Just a handful of residences remain for sale in Yeerongpilly Green Riverside&rsquo;s first stage, which fronts the Ashley Cooper Riverwalk, dedicated to the late Australian tennis great.

The residences will be built on a 7000 sqm site, across two five-level apartment buildings called Park House and Garden House, with 31 and 52 apartments, alongside 10 three-bedroom luxury homes at Green Terraces.

The retail centre will be anchored by Woolworths and include a dining precinct, specialty stores, commercial offices and health and wellness providers on an 8850sqm site at the heart of Yeeron​gpilly Green Riverside.

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Deputy Premier and Minister for State Development Steven Miles said he was pleased to see construction beginning on what will be an exciting urban village for the southside of Brisbane.

&ldquo;Projects such as Yeerongpilly Green Riverside help address land supply challenges, catering for Queensland&rsquo;s booming population,&rdquo; Miles said.

&ldquo;We&rsquo;ve seen a spike in interstate migration with more people choosing to live in Queensland, thanks to our strong health response to the COVID-19 pandemic.

&ldquo;The Yeerongpilly Green Riverside master plan will not only create 1200 homes as well as retail and commercial space, but generate around 7,600 jobs over the next decade, providing a great economic boost for the local area,&rdquo; Miles added.

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CVS Lane​ Capital Partners is a joint-venture partner in Yeerong​pilly Green Riverside.

CVS Lane Chief Executive Officer Lee Centra said that the start of construction at Yeerongpilly Green Riverside was a major milestone for what is a nationally significant urban regeneration project.

&ldquo;The vision for Yeerongpilly Green Riverside has been to transform an underutilised 14-hectare site, only seven kilometres from the Brisbane CBD, into a major residential, retail and commercial destination, and it&rsquo;s very pleasing to see that vision taking shape. 
&nbsp; 
&ldquo;With Brisbane&rsquo;s growth set to accelerate in the next few years in the build up to the 2032 Olympics we&rsquo;ll see increased demand for quality mixed used lifestyle precincts and so the project is very well positioned.&quot;

&nbsp;

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Joel Robinson

Construction commences on $850 million Yeerongpilly Green Riverside community

The Queensland developer Don O’Rorke says the “formula" for post pandemic apartments needed to change pretty significantly

The Brisbane-based Consolidated Properties Group chief executive and chairman Don O&rsquo;Rorke says his &ldquo;formula for apartments has changed pretty significantly&rdquo; following the pandemic.

The shift was especially in terms of offering more space.

O&#39;Rorke noted it was being implemented in its Yeerongpilly, Cornerstone Living project at Coopers Plains.

And also will be implmented at its Toowong project at 600 Coronation Drive on the former ABC riverside site.

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&ldquo;The simple fact of it is &mdash; convenience and accessibility is an important factor for almost all purchasers,&rdquo; Mr O&rsquo;Rorke told The Australian.

He recently noted supply concerns.

&quot;We are seeing new enquiries and I think there is recognition that the supply won&rsquo;t be there in the medium to long term.

&quot;So there&rsquo;s certainly no chance of an oversupply, and probably an undersupply across all sectors of the apartment market including both investors as well as owner occupiers,&quot; he told UDIA Queensland CEO Kirsty Chessher-Brown in a recent forum.

&quot;We are looking to be optimistic about things,&quot; O&#39;Rorke noted

He also noted that the HomeBuilder stimulus packages seemed to be targeted towards house and land, rather than apartments, adding &quot;house and land is very much a here and now experience, whereas apartments is a commitment to an acquisition in two years&rsquo; time, so there&rsquo;s a different sentiment running through that product.&quot;

YG Riverside | King Arthur Terraces

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Construction commences on $850 million Yeerongpilly Green Riverside community

Don O’Rorke says the “formula" for post pandemic apartments needed to change significantly

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