$6 billion apartment complex for Springfield
THE FACE of residential living in the Ipswich region is set to change forever when a $6.3 billion development agreement between two Chinese companies and Springfield Land Corporation (SLC) is signed off today.
The development will see a 10,000-apartment complex built over the next 15 years on land adjacent to the Springfield Central railway station.
The major medium-to-high density apartment project will be known as Central Gardens and will create over 2800 jobs.
The development agreement to deliver the major mixed use residential project will be signed off today between Springfield Land Corporation, R & F Properties and Etone Holdings Australia.
The chairmen of the respective Chinese companies - James Cui and Guo Baotian - will be in attendance at the historic signing at the Hilton Hotel in Brisbane as will Premier Annastacia Palaszczuk.
The apartment development will be complemented by commercial and retail space.
SLC chairman Maha Sinnathamby said the development, expected to start in early 2018, was another step forward in the region's growth.
"We are delighted to partner with R & F Properties and Etone to embark on Greater Springfield's next major growth phase," he said.
"A lot of work has been completed to get to this point and we look forward to a long and collaborative relationship with our new partners, who will join many existing stakeholders that are actively investing in the development and commercialisation of Greater Springfield."
Ipswich Mayor Paul Pisasale, who will attend today's signing agreement, said it was an exciting moment in the city's development.
"This is an indication of both the growth of Ipswich and the changing nature of our city with 10,000 apartments to be built over the coming years," he said.
"It gives us another line of product for people moving to our city and it is just great to have these prestigious companies investing here.
"It is up to us to make sure they are happy with their investment. We will welcome them and make sure they feel part of a great city.
"Council's involvement will be to give them the security to know we are all about master planned communities. We are quick with regard to our approvals, and also fair.
"This development is probably one of the biggest in Australia and the biggest in the southern hemisphere.
"What I like about it is that it is being built around a railway station so the dependence on public transport will be there and people won't need to drive a car as much.
"We have done a lot of studies around the world about what makes a great city and it is all about creating a city heart and then master planned communities around it like Springfield and Ripley.
"It is another string in our bow to making us a well-rounded city."
The Ipswich suburbs referred to by Mr Sinnathamby as 'Greater Springfield' will increase in population from the current 34,000 people to an estimated 86,000 residents by 2030.
Twelve billion dollars has been invested into the region, with about $600 million in construction work being carried out each year.
The construction of the Springfield Rail Line, the Mater Private Hospital and Orion Lagoon has made the suburb a magnet for residential growth in recent years.