【Buying Property in Australia】 Overview of Brisbane Urban Renewal Plan 2024

The city government has identified more than 70 hectares of land for suburban renewal, including former paint factories, metal processing factories, brick factories and baking factories. The specific locations include the “Yeronga District”, “Runcorn District”, “Moorooka District”, and “Alderley District”, “Kedron District”, “Nundah District” and other places. The plan also includes a proposed CBD-style high-rise building in the Kurilpa precinct of south Brisbane, with plans to provide up to 10,000 housing units.

The “Stones Corner Suburban Renewal Area” is the first area to be developed under the plan. It is expected to add 1,300 housing units by 2046, increasing the number of existing housing units by approximately 250%. In addition, Wynnum’s CBD has been identified as the second precinct in the plan, which aims to revitalize the business district and create more employment, education, services and housing opportunities. The area will focus on Wynnum Central Station and surrounding major streets, including Berrima Street, Clara Street, Tingal Road and Bay Terrace.

The Mayor stressed these steps would ensure Brisbane remains a great place to live, work and play as it continues to grow and face the opportunities and challenges of being Australia’s fastest growing capital city. The mayor said that London’s urban renewal experience after the 2012 Olympic Games is worth learning from. Brisbane needs to create another urban growth through the 2032 Olympic Games, so it chooses high-rise buildings instead of expansion, and while protecting traditional suburbs, encourages good urban growth. Locations develop more towns.

In short, Brisbane’s suburban renewal plan is not only a necessary measure to deal with population growth, but also the key to the city’s future development. It will provide residents with a better living environment and more development opportunities. If you all hope to master the development of the 2032 Olympic Games An opportunity brought to you, you can contact Cheong Mei Australia Real Estate to learn more about the information and opportunities for property purchase and investment in Brisbane, Australia.