Beenleigh is set for an almost $40m economic and jobs boom from 2019 on the back of investLogan’s investment in a new mixed-use precinct in York Street in its central business district.
The first new commercial building to be constructed in Beenleigh in the last decade, the $20m project features the revitalisation of John Lane, between John and George Streets, plus the development of a new 4000 sqm, seven-storey commercial building, with 156 sqm ground floor retail space.
Leading development and property economics advisor Urbis predict the York Street development will be the catalyst with more than 100 construction jobs and 140 new full-time jobs once the redevelopment is complete.
investLogan has nominated SEQ business Alder Developments and Alder Constructions as the preferred strategic partner, with work due to start in 2019 and complete in 2020.
investLogan chairman Steve Greenwood said Urbis’ assessment highlighted the significant potential of the project to rejuvenate a key centre in the City of Logan and shone a light on the important work being done by investLogan to drive catalytic development with broader community benefits.
“The value of this development goes well beyond it’s ability to deliver construction jobs and bricks and mortar,” Mr Greenwood said.
“investLogan has set out to identify and then deliver a development that makes an ongoing economic contribution and stimulates other local and community-based activity for the benefit of the city and its residents.
“Our York Street project will not only deliver an architecturally-designed, contemporary office and retail tenancies. It will also return benefits to the community, estimated to be in the order of $500,000, with the face lift to the well used John Lane, with new amenities which may include public art and smart technology, including WIFI, along with integrating 10 short-term publicly accessible car parking sites in the development.
“This will be a new place for events and activity for Beenleigh, and Logan more broadly, and it’ll be a strong sign to the market and the community that investLogan are leading the way.
“The redevelopment of the York Street site and adjoining John Lane into a place of activity and events will be a first for Beenleigh and it’ll start to bring the laneway culture of Brisbane, and even Melbourne, to the city.
Mr Greenwood said the project would stimulate activity across the city as other local businesses moved to supply goods and services to new businesses locating in York Street. He also predicts increased spend in the local area by new people working in the area.
investLogan ran an expression of interest in early 2018 for a strategic development partner and identified Alder Developments as the preferred proponent. Greg Tupicoff, General Manager of Alder Developments believes this is the first of many important steps in growth throughout Logan City
“Alder Developments is honoured to be on the York Street development team,” Mr Tupicoff said.
“It’s an exciting development in the Beenleigh Town Centre which will continue the much needed vertical growth of the Town Centre and appeal to people wishing to work in the area,”.
“We’re committed to providing the highest quality and best outcome for all our projects and pride ourselves on working in our local area of the Gold Coast and Logan.”
Working alongside the construction arm, Alder Constructions will bring efficiency and quality to the project. Alder Constructions has recently completed a $5.5 million redevelopment at the Beenleigh Aquatic Centre in Alamein Street.