EG Funds to plug Brisbane housing supply hole with build to rent and build to sell plan apartment towers in Fortitude Valley
EG Funds Management are bringing over 550 apartments to the vastly undersupplied Brisbane apartment market.
They're splitting their approved Fortitude Valley building in half, vertically not horizontally, creating two towers, one with 326 build to rent apartments, the other with 225 build to sell apartments across 33 levels.
The vast 3,582 sqm block stretches across 80 McLachlan Street and 801 Ann Street, while also having street frontages to Moregan and Connor Streets. the BTR tower will face Ann Street and the BTS tower McLachlan Street.
The Town Planning Report by Urbis said the Rothelowman-designed proposal delivers an exemplary design outcome that offers choice and diversity for both the apartment and rental market in Brisbane.
"The development provides a memorable marker to the inner-city skyline, with vertical landscaping dispersed generously and use of contrasting colour palettes between the two towers," Urbis noted in their Assessment Report.
"The materiality creates a modern residential development with subtropical components that suitably respond to the site’s context and are unique to Brisbane."
Urbis said a key aspect of the development proposal is its building height.
"The proposed concept relies upon the existing approved height of the commercial scheme and enhances the design to provide a more refined outcome for the site involving two separate towers with greater setbacks and separation as well as reduced tower site cover."
They said significant events have occurred since the receipt of the two previous approvals, including COVID-19, population growth, and confirmation of Brisbane as the host city for the 2032 Olympics.
"These significant events have stimulated changes to policy direction for planning and development of Brisbane.
"Recent federal, national and local strategic policies are expressing a consistent direction whereby increased height and density is supported in appropriate locations, particularly to address a critical economic and community need for housing supply.
"The proposal is aligned with this emerging policy direction, as the site is a large island site with no adjoining sensitive uses and receivers and highly accessible to public transport, employment and goods and services.
"It is of an appropriate scale and density that can accommodate significant on-site population to support the day- and night-time economy of Fortitude Valley."
The former approval, left, vs the new plans, right
Architecture firm Rothelowman said in their Urban Context Report that the towers will make a "genuine contribution to helping solve the current housing crisis that affects Brisbane and Australia as a whole."
Part of the proposal is over 1,000 sqm of retail space which activates all four street frontages and provides a day/night economy to the area.
There will be around 300 sqm of purpose built community use space operated by the Little Big Foundation, over 400 sqm of privately owned public space in the form of a covered colonnade, activated plaza and sub-tropical gardens, and a subtropical colonnade along Morgan St that links together two heritage buildings; The Osbourne Hotel and St Patricks Cathedral.
Rothelowman said a deliberate focus on the power of landscape is at the heart of all design strategies embedded in the project.
"801 Ann St seeks to provide an exemplary residential project grounded in a deep understanding of place and a sincere dedication to life in the subtropics. The design seeks to reimagine urban living with a central focus on community, generosity, and connection to nature. This approach and attitude is fundamental in providing a future focused methodology to delivering much needed housing within our rapidly evolving city.," Rothelowman said.
"Crafted through a meticulous analysis of the site and its surroundings, 801 Ann aims to seamlessly engage with the existing context of Fortitude Valley whilst offering rejuvenation to one of the more intense inner-city suburbs of Brisbane. It envisions weaving a vibrant, active, and generous urban atmosphere into the Valley heart, utilizing urban gestures and deep sheltered public spaces to establish a porous and harmonious interface with the city."
Both towers feature rooftop recreation decks with a pool, spa area, sun deck, dining room and kitchen and BBQ areas, as well as further amenity on level five with a gym for each building, a wellness spa, library, and work from home spaces.
EG Funds Management has over $5.1 billion in assets under management and a $3.9 billion development pipeline across Australia. They intend to keep the BTR tower, which they will let a national operator manage.
