Further confidence in the Valley market continues to be seen as the Queensland Teachers' Union Health Fund lodges a huge development application on land owned by the fund for 35 plus years. According to Brisbane Fringe Cityscope, the group has submitted a commercial/hotel/residential development application on ten properties bounded by 17-25 Baxter Street, 22-30 Misterton Street and 428-442 St Pauls Terrace, Fortitude Valley.
The development will comprise a 30-storey commercial tower and a 30-storey hotel/residential tower with a shared podium. The shared levels will comprise three basement levels, food and drink outlets, retail space and a 1,155 sqm supermarket on the ground floor; a child care centre and continuation of the food and drink outlets on level 2; office space on levels 3 to 5, plus four function rooms of 1,532 sqm on level 5; and a hotel lobby with buffet and additional hotel services, office space plus a bar, outdoor dining area and hotel recreation deck with swimming pool on level 6 (top podium level). The two towers will then separate from level 7. A green space between the towers will provides common property for guests and lead to a pool deck below. From there the northern tower will comprise 111 short term accommodation units from levels 7 to 12 and the remaining 18 floors will be for 142 permanent residential units. Commercial space continues over the southern tower from levels 7 to 30. Additionally, the existing, two-storey heritage listed Donegal Building will be utilised as a bar/hotel.
The development will include 390 car parks, 220 bicycle bays, 5 motorcycle bays and end of trip facilities and the 148 permanent units will be comprised of 55 one-bedroom, 75 two-bedroom, 18 three-bedroom. Over all the development will create a total floor area of 70,425 sqm, including 43,513 sqm of office space.