Construction commences on landmark $600m FV project in Fortitude Valley
Luxury apartment developer, GURNER™ has today turned the first soil at its landmark $600m ‘FV’ project in Fortitude Valley, after a phenomenal sales campaign which quickly saw all 651 apartments in the first two buildings completely sell out after just a few months.
The striking Elenberg Fraser-designed development is one of the first in a new calibre of design-led projects to commence construction in Brisbane, which will help to shape the city skyline as it transforms into a world-leading, dynamic destination for residents and tourists alike.
The project is set to play a pivotal role in the urban renewal of Fortitude Valley and will deliver over 2,500sqm of luxury retail, 4,300sqm of resident amenity within the FV Private Club and 920 residential apartments over three architecturally distinct, world-leading buildings.
According to Brisbane Lord Mayor, Graham Quirk, FV is one many exciting proposals which have been approved by Brisbane City Council in the Fortitude Valley precinct since January 2013.
“We are in the midst of a regeneration of the Fortitude Valley precinct with several hotel, residential and commercial projects coming online, reflecting the evolution of the Valley as a premier lifestyle and entertainment hub,” Cr Quirk said.
“Iconic developments such as FV are revealing the Fortitude Valley as a lifestyle destination, with the mix of new and heritage buildings taking shape and showcasing Brisbane as a new world city.
“These developments are not only contributing to urban renewal, but they will have long-term benefits for the Valley’s economy with many major businesses now taking up residence,” he said.
GURNER™ founder and director, Tim Gurner said the commencement of construction at FV marked a new era for Brisbane as a progressive, infrastructure-rich city and a true “new world city”.
“ Brisbane is undergoing an exciting period of transformation, with a number of landmark projects set to redefine the city over the next five to ten years as Brisbane expands into one of Australia’s most important cities and lifestyle destinations.
“ FV is one of the first of these elite projects to commence construction, signifying our commitment to the Brisbane market as we bring this vision to life.
“ Our vision to create a building of such a large and iconic scale was suggested by many to be too early for Brisbane, however having sold all 651 apartments in such a short timeframe I think we have now proven that to be wrong.
“ Brisbane is changing rapidly and astute buyers around Australia are responding in droves and this is being reflected in the in the continuing growth of the city.
“ The huge sales success we have witnessed to date has spurred us to fast-track construction of the first two stages so we are delighted to be turning the first soil here today.
“ This represents not only a great day for Brisbane’s city skyline but a commitment from GURNER™ to deliver this landmark project and mark a new chapter in Brisbane’s architectural landscape,” he said.
International world-leading firm, Brookfield Multiplex will be responsible for delivering the first two buildings of the three tower precinct, ‘Flatiron’ and ‘Valley House’, in a contract worth over $150m.
Brookfield Multiplex’s Regional Managing Director for Queensland, Rod McDonald, said construction commencing at FV was an important milestone for Brisbane.
“FV will play a major role in revitalising the Fortitude Valley precinct by creating a much needed amenity and a real identity for residents.
This is our largest residential project in Brisbane in recent years and we are proud to be involved in such an exciting and transformative project.”
The project’s third and final tower, ‘No.1’, is set to launch to the market in 2015.
KEY PROJECT FACTS:
- Developed by GURNER™
- $600 million end project value
- Bordered by Brunswick Street, Alfred Street and Barry Parade in Fortitude Valley, Brisbane
- Total site area: 5,000sqm island site
- Architecture and interior design by Elenberg Fraser
- Three tower multi-use development comprising 920 one, two and three bedroom apartments
- Over 4300sqm of luxury retail along Brunswick Street, Alfred Street and a high end showroom along Barry Parade
KEY CONSTRUCTION FACTS (BUILDINGS ONE AND TWO ONLY):
- 500 on-site jobs and over 2,000 off-site jobs will be created from construction
- Over 28,000m3 of concrete will be used
- 3,000tonnes of reinforcement
- 10,000m2 of glazed windows to be used
- In the final 6 months of construction, Brookfield Multiplex aim to complete 1 level per week across both buildings, equating to roughly 54 apartments per week