Two Chinese investors – Guangzhou-based R & F Properties and Hong Kong-based Etone Investment Development Ltd – and Springfield Land Corporation (SLC) has signed a development agreement for a $6 billion mixed-use project in the Springfield region.
The development – which will be called Central Gardens – will include a 10,000-apartment complex which will be built on the land adjacent the Springfield Central railway station as well as a commercial and retail space.
This multi-billion dollar project is expected to support over 1,000 jobs during construction.
“I’m told that in the first three years after construction starts early next year, this project will generate 377 jobs directly. It will also lead to a further 709 jobs being indirectly created.
“And in the long term, there will be retail jobs created as this development will create its own demand which will lead to jobs,” said Premier Annastacia Palaszczuk.
According to SLC Chairman Maha Sinnathamby, the development is set to commence construction early in 2018.
“We are delighted to partner with R & F Properties and Etone to embark on Greater Springfield’s next major growth phase.
“A lot of work has been completed to get to this point and we look forward to a long and collaborative relationship with our new partners, who will join many existing stakeholders that are actively investing in the development and commercialisation of Greater Springfield,” Mr Sinnathamby said.
Greater Springfield – a suburb in Ipswich – is one of Australia’s fastest emerging new cities – with an expected growth of 86,000 residents by 2030 – and the development of Central Gardens will supplement this growth in the region.
“This is an indication of both the growth of Ipswich and the changing nature of our city with 10,000 apartments to be built over the coming years.
“It gives us another line of product for people moving to our city and it is just great to have these prestigious companies investing here,” said Ipswich Mayor Paul Pisasale.
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Source: Queensland Government and The Queensland TImes