Developers to apply for CBD incentives
A TOP father-and-son Toowoomba developer team says they plan to apply for multimillion-dollar incentives offered by the council for two major residential projects in the CBD.
Barry and Mitchell Bernoth have given updates on planned residential towers on Mylne Street and Bell Street, which would inject millions into the economy and grow the city centre by dozens of residents.
It comes after the Toowoomba Regional Council extended its CBD incentives scheme by another 18 months.
The program, which has only been taken up by one applicant in six years, will offer discounts on infrastructure charges for residential or short-stay projects worth above $3m.
Having secured approval from the council for its 12-unit tower on Mylne Street, Barry Bernoth said they would look to apply for the scheme.
“If we qualify, we’d certainly look at that in assisting in getting something done in the CBD,” he said.
“I know the broad parameters, and it’s limited to certain projects, but we’ll be applying and putting forward to see if we tick the boxes.
“It’s a good initiative on the council’s part.”
The 11-storey Bell Street tower has been with the council’s planning department since April last year, but Mitchell Bernoth said he was hoping for an approval soon.
“We’re waiting on council’s response to the application,” he said.
“Given it’s a code-assessable application, and it’s what council is seeking for the CBD, I would be surprised that it would need to go to a special meeting.
“I would be hoping for approval within a week, but let’s see how we go.”
It’s been a busy year for the Bernoths, with the team also snapping up the McCafferty’s bus terminal on Neil Street for nearly $3m.
Barry Bernoth said he didn’t have set plans for McCafferty’s, but was open to suggestions from interested parties.
“We’d like to get this one (Bell Street) to fruition, and that will enhance the McCafferty’s site,” he said.
“At the moment, it’s still providing carparking for workers, but we’ve got eyes and ears open, and we’d love to hear if people have any suggestions.
“We didn’t purchase it to keep it as it was.”