Construction is anticipated to begin on the first stage of the $750 million Albion Exchange project in Queensland as the Brisbane City Council gives the green light to the development that will revitalise the inner north.
Albion Exchange is a 10-stage Transit-Oriented Development that is being delivered by Brisbane-based company Geon Property. The project is going to be built across a 4-hectare site in Albion.
“We are confident that Albion Exchange will truly set the standard for Transit-Oriented Developments in this city, across the state, and across the country.
“Albion Exchange is well positioned to become the future heart of Albion, with spaces for recreation, a focus on health and lifestyle services, and a brand-new retail precinct - elements that are currently lacking in the area,” Geon Property Senior Development Manager Tim Rossberg said.
The project will also include $28.7 million worth of upgrades to transport facilities and public access to the Albion train station. These works will complement the planning by Queensland Rail for a future accessibility upgrade on Albion station - which could include new platform access with lifts, raised platform sections to improve train access as well as other accessibility features such as hearing aid loop, signage and tactile flooring surfaces.
In addition, plans for Albion Exchange also include green and open space.
“Green and open spaces are so important in urban areas, and we are proud that the approved design includes 3,691 square metres of public green and open space - covering 61 per cent of the site area.
“For those who will call Albion Exchange home, we have also retained a significant amount of communal open space - just under 2,000 square metres - and have reconfigured the building layouts to improve internal circulation and maximise outdoor balcony spaces,” Mr Rossberg said.
This Transit-Oriented Development will ultimately provide improved accessibility to the Albion train station; residential, retail, commercial and community spaces for locals to enjoy; and pedestrian and cyclist friendly high-quality public spaces and streets.
The proposed design for Albion Exchange has been refined to ensure that it will provide safe and easy access to the site as well as support active transportation.
“Changes include widening stairs and paths, providing larger lifts with capacity for multiple wheelchairs, prams and bikes, and adding more shelter and shade.
“The approved plans also enhance cyclist access to and around the precinct, with dedicated resident, employee, commuter and visitor bike parks, and a design that provides seamless integration with the soon-to-be-completed North Brisbane Bikeway,” Mr Rossberg said.
Works on Albion Exchange is expected to begin by the end of this year.
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Source: Geon Property (1, 2); The Urban Developer; Commercial Real Estate; Brisbane Development