City Living Takes Brisbane By Surprise

Sun Herald

Sunday November 24, 2002

By HANNAH EDWARDS

DRIVING through Brisbane's central business district, it is impossible to miss the number of residential high-rise towers being built to cater for the increased demand of people keen to move in to the city.

Although Sydneysiders have already witnessed the trend of city workers moving into the CBD from the suburbs, many Brisbanites still marvel at the massive and often architecturally adventurous residential structures sprouting in the middle of town.

Some, still unaccustomed to the idea of city living, ponder why anyone would want to live with the pollution of cars and buses and having hundreds of people at their doorstep. But others are attracted to the units by their close proximity to workplaces as well as the extra amenities and services that the city offers.

Real Estate Institute of Queensland spokeswoman Fiona Bergin said there had been a large increase in the number of city residential developments in recent years.

But while Sydney has received a significant boost to the variety and quality of its after-dark activities, thanks to the large number of residents who have moved in, Brisbane's CBD has always seen plenty of evening activity.

``Most of the units [so far] have been bought by investors," Ms Bergin said. ``So most of the people who are living in the city apartments are tenants. A large market is people who want to live close to where they work."

Some residential high-rise buildings have been built specifically to appeal to city workers. Other ``niche" developments, such as Pradella Developments's Roma Street Parklands residential complex, are attracting ``more wealthy, often semi-retired people", Ms Bergin said, while developments such as the large-scale Cathedral Place appeal to students at the city-based Queensland University of Technology.

As in Sydney, there has been plenty of talk of oversupply as more units are built. These rumblings are believed to have contributed to the shelving of plans to build the $225 million, 433-unit Georgian apartment complex in the CBD.

The developer, Devine, is a major player in the Brisbane unit market, reportedly responsible for 60 per cent of the city's units. But Devine decided to halt the project, blaming lacklustre sales..