DMA Partners is excited to be leading and advising project feasibility, structuring and delivery of the second phase of the $1 billion master planned development, Park Central, located in Buranda in the Brisbane City Council designated ‘Knowledge Corridor’.
Integrated with major transport links and within walking distance of Brisbane’s premier health and life sciences research facilities, Park Central brings together a vibrant retail town square, residential and serviced accommodation, commercial offices, medical and education facilities.
DMA Partners Associate Director Matt Cummins said that whilst the site presented significant opportunities with connectivity and diversity of offering, it also presented some interesting challenges.
“The site is steep and triangular, is adjacent to the Buranda railway station and is literally above the urban busway tunnel.
“We are using the topography and constraints of the site to guide staging and funding models of the multiple uses, to ensure the seamless transition through construction phases and enhance the commercial feasibility.”
Recent statistics from the Australian Automobile Association estimated the cost of congestion at $16.5 billion across Australia’s eight capitals in 2018.
While public transport use has been rising, a recent federal government report found only one in eight Australians in capital cities use public transport for daily commuting.
Mr Cummins said Park Central demonstrated all the things that could be achieved with a well-executed transit-oriented development.
“Cities are looking for better solutions to transport issues, solutions that provide people with access to the services they need and minimise car use; Park Central is such a solution,” Mr Cummins said.
“Park Central is only eight minutes from the University of Queensland, 2.5 kilometres to QUT and just 10 minutes to Griffith University and extremely well connected to the city.
“It’s located in the heart of the council’s Knowledge Corridor – which includes many of the city’s universities and research institutions.
“It really demonstrates the best of transit-oriented developments, and we’re excited to be part of delivering this city-shaping project.”