Tower units in CBD
A million apartment building that forms part of Townsville’s premier innercity redevelopment project is poised for release to market after gaining city council approval this week.
T h e 1 0 - l e v e l t o w e r , Kensington, the third stage of the $ 400 million Central development, will feature 44 one and two-bedroom apartments above a ground-level parking.
C e n t r a l i s b e i n g undertaken in stages by H o n e y c o mb e s P r o p e r t y Group on a 6.5ha parcel on Flinders St West where the s e c o n d s t a g e , Ho l b o r n , which has 78 apartments above ground-level retail space, has just been completed.
Central’s first stage, Islington, comprises one ninelevel and two four-level buildings sharing 95 apartments, and a 3600sq m threestorey retail and office building.
Honeycombes managing director Peter Honeycombe said his team had worked closely with the council to f i n a l i s e t h e d e s i g n o f Kensington and he was pleased with the process and the timelines delivered by its planning department.
‘‘ After wrapping up construction earlier this month of Holborn, we are looking forward to starting construction of Kensington,’’ Mr Honeycombe said.
‘‘ We have a lot of confidence in the market for affordable inner-city apartments after selling nearly all of Holborn’s apartments off the plan. More than 50 apartment sales in Holborn have settled and many residents have moved in, with the balance of apartments due to settle over the next few weeks.’’
Mr Honeycombe said the group would set a construct i o n s t a r t d a t e f o r Kensington after the city council released details of an expected central business district development incentive plan.
Prices for Kensington’s apartments are expected to start at $ 295,000, with an average price of $ 420,000 for two-bedroom apartments.
Recreational facilities will include a pool and will share the first level with terrace apartments.
Co u n c i l p l a n n i n g a n d e c o n o m i c d e v e l o p m e n t chair David Crisafulli said Kensington would be an important addition to the business district.
‘‘ It’s great for the city to attract private investment, particularly projects that create local jobs and offer quality, affordable living options,’’ he said.
CITY LIVING: The 10-level tower, Kensington, will feature 44 apartments