Sales driving shift at Nova
Better infrastructure on way
CHANGES: New artist’s impressions reveal a different view of Aspial’s planned $550 million Nova City apartment development in the Cairns CBD. SINGAPOREAN business magnate Koh Wee Seng is visiting Cairns for the first time in two years for an update on the progress of his $550 million Nova City development.
The Aspial CEO’s short stay in the Far North coincides with the company’s submission of a new development application to Cairns Regional Council, reflecting it has bought even more CBD land.
It also closely follows CQUniversity’s recent announcement it had outgrown its Shields St campus and was AURUKUN and Pormpuraaw are among the indigenous communities to receive infrastructure upgrades through the State Government’s Indigenous Councils Critical Infrastructure Program funding.
The $120 million injection over four years will improve water, wastewater and solid waste infrastructure.
Minister for Local Government and Aboriginal and looking to expand or move into new premises, with Nova City high on the list of options.
The revised development application reveals several never-before-seen artist’s impression of the finished product, which incorporates six apartment towers ranging between 17 and 20 storeys, one 16-level commercial tower and commercial space.
Aspial has bought a vacant 1774 sqm block of land beside the Aecom building on Bunda St with plans to use it in Nova City’s sprawl, primarily to increase parking space numbers
The new development application Torres Strait Islander Partnerships Mark Furner said the program would improve living conditions and provide a sustainable future.
“This funding will be tailored to each community, supporting the infrastructure they need now and into the future, helping to close the gap on disadvantage,” he said.
“One of the great things about this program is that the reveals the project now entails 1124 units, down from 1132 in September’s plan due to an increase in unit size and bedroom numbers.
Parking spaces have also increased from 742 in the September schematics to 810 under the new blueprint.
A Singaporean stockmarket update at the end of March revealed about 30 of the 101 available apartments from Nova City’s first tower had been sold off the plan at that time.
The company has already spent at least $5 million on civil works at the Nova City site to date. councils actually develop the skills locally to manage the infrastructure and projects moving forward.”
Mr Furner said for councils in remote locations, access, distance and logistics meant project costs could be up to seven times higher than in mainland metropolitan areas.
He said the first stage of project approvals was already under way.