Stage One of the $750-million Albion Exchange project has been approved after scaling back the original plans.
The Albion Train Station precinct project is set to transform the state-owned 4-hectare property bordered by Mawarra St, and Albion and Hudson Roads over ten stages and will include an upgrade to transport facilities and access to the Albion train station.
Stage One, the largest stage of the development, will feature two new multi-level residential buildings with new food and beverage, health and wellbeing, and retail and commercial precinct. A separate application for stages two to 10 has also been lodged before the Council.
The scaled down plans feature 20-storeys and 19-storeys towers with 253 units, from the original 30-storeys and 23-storeys with 333 units, a reduction of building footprints for each tower by up to 10 percent.
The approved Stage One Albion Exchange Master Plan also includes a $28.7-million upgrade to transport facilities and access to the Albion Train Station, as well as 3,691 square metres of public green and open space – covering 61 per cent of the site area.
“For those who will call Albion Exchange home, we have also retained a significant amount of communal open space – just under 2,000 square metres – and have reconfigured the building layouts to improve internal circulation and maximise outdoor balcony spaces,” Geon Property Senior Development Manager Tim Rossberg said.
Other changes to the plans, Rossberg mentioned, include widening stairs and paths, providing larger lifts with capacity for multiple wheelchairs, prams and bikes, and adding more shelter and shade.
“The approved plans also enhance cyclist access to and around the precinct, with dedicated resident, employee, commuter and visitor bike parks, and a design that provides seamless integration with the soon-to-be-completed North Brisbane Bikeway.”
The updated plans came as a result of extensive consultation with the Council and continued discussions with local residents and businesses.
Mr Rossberg said that 2020 will see more tenancies confirmed and construction commencing by the end of the year.