Hi guys I’ve invested about 2 years ago in mt gravatt and now I recently heard they are doing a PRAC some kinda community future developing planning. They say only 3 places is doing this in brisbane indooroopilly chermside and mt gravatt.
Was just wandering anyone else know more about this kind of thing.
How long it usually takes to start the build process 1,2,3 years?
Also this gotta b a good thing for the property invester right? I mean more units flats,hirise apartments, and moreThanks
This is a long term thing they're considering at the moment for key 'hubs' around Brisbane to de-centralise from the CBD area. I doubt any construction will start in the next 3-5 years as if you're familiar with the areas they're well established and quite old in some parts, so any new buildings or highrises will be redevelopments, reclamations or some other type of deal going on, there's little available space in all 3 of these areas as a 'greenfield' site.
Ultimately yes it'll be good for investors if their property ends up in one of the 'rezoned' areas that ends up with increased density allowable and so on. How long that will take with Brisbane City Council and the ULDA at each others throats is anyones guess.
Sounds good then since mine is one of the ‘rezoned’ areas that is ending up with increased density allowable. Hopefully in 5 years its wirth enough so can pay off my existing house. Sweeeeet
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