The potential of the Toondah Harbour and Weinam Creek waterfront projects has translated into strong interest from investors during the Expression of Interest phase, which closed this week.
Redland City Mayor Karen Williams said the interest from the market to develop the two Priority Development Areas (PDA) was positive for Redland City.
“Eight strong Expressions of Interest were submitted by firms interested in being part of these exciting projects to create retail, residential and economic hubs for the region,” she said.
“There were also 54 inquiries during the Expression of Interest period.
“Redland City is located in one of the fastest growing areas in Queensland and the calibre of developers expressing their interest in these sites marks a new chapter for the city.”
Cr Williams said the next step would be for the submissions to be reviewed to ensure they incorporate the principles of the development schemes, including feedback from the community.
“Council and Economic Development Queensland will now review the submissions against the planning schemes before short listing potential investors who will then be asked to submit detailed design plans in late September,” she said.
“It is encouraging to see there has been strong recognition of the potential of both sites to be transformed into dynamic and exciting waterfront precincts.
“Situated on the beautiful Moreton Bay, both sites boast locations that bring enormous potential for opportunities such as boutique hotels, conference centres, marinas and mixed-use residential development.
“These projects mark a coming of age for this City. They will be catalysts for local job creation and economic growth. They will undoubtedly boost not only the Redlands’ but Queensland’s tourism credentials.’
“From a market cycle perspective, we are now seeing a resurgence in the Bayside market and, with this upswing after a tough five years, I believe the timing is in the Redlands’ favour.’’