Menu
News

Low house prices ground high-rises

Mr Hunter said with unit prices unable to compete with house prices at the moment, the Kitchener St project was on hold.
Mr Hunter said with unit prices unable to compete with house prices at the moment, the Kitchener St project was on hold.

LOW house prices are expected to keep a spate of residential high-rises grounded until at least late next year.

Toowoomba Regional Council currently has six high-rises with development approval on its books.

Two located in Ruthven St, part of the same development known as Le Jardin, were approved this week despite opposition from nearby property owners.

To be developed by Property Fox, they will be eight and nine storeys high, and will include 86 apartments.

Bernoth Holdings has approval to build an eight-storey high-rise on Alderley St, overlooking the Toowoomba City Golf Club, and a seven-storey high-rise on Ruthven St.

The Alderley St development will include 35 units. The Ruthven St property has a potential 32 units.

Meanwhile FK Gardner and Sons has approval for its $45 million, 11-storey Kitchener Apartments.

FK Gardner and Sons development manager Dallas Hunter, who is also Urban Development Institute of Australia Toowoomba president, said low house prices had a significant impact on the viability of high-density residential developments like high-rises.

Mr Hunter said with unit prices unable to compete with house prices at the moment, the Kitchener St project was on hold.

But he said it was inevitable that high-rise developments would become a common and important factor in Toowoomba's growth.

"If we want to get in-fill development that stops urban sprawl and retains the heritage and character of an area, we've got to go with high-rises," he said.

Topics:  houses property real estate residential



BREAKING: Fire crews tackle solar panel fire on Cap Coast

UNDER CONTROL: Fire crews rushed to tackle a fire at Pacific Heights this afternoon.

A neighbour reported solar panels were 'billowing black smoke'.

Capricornia's weather update and spectacular weather footage

SPECTACULAR FOOTAGE: Rockhampton was lit up last night by some amazing lightning.

See the fantastic lightning footage and read our weather update.

Undercover police cars swarm in raid at Port Curtis address

Five police cars converged on a Port Curtis this morning

A quiet Port Curtis Street became a hive of police activity.

Local Partners