A $6 billion private “city” that will house 10,000 apartments is being planned for Brisbane’s outskirts.
Developers Springfield Land Corporation plan to build the project in Greater Springfield, Ipswich.
Expressions of interest have been sought for the 15-year project, a self-proclaimed “city” to be built on an 86-hectare site.
Thousands of apartments are planned for the Greater Springfield development.
Corporation chairman Maha Sinnathamby said it would be a viable alternative to central Brisbane.
“The city centre north apartment project represents an exciting next step in the evolution of Greater Springfield, as an alternative to the Brisbane CBD, providing greater housing and work choices,” he said.
The Australian branch of UBS has been appointed as financial adviser to the project.
UBS managing director and head of real estate, Australasia, Tim Church said the project had been one of Australia’s fastest-emerging cities.
“Greater Springfield’s significant near-term population and employment growth, in addition to major existing and planned investment in infrastructure and strong public transport access, will continue to drive strong dwelling demand”, he said.
Greater Springfield will be built on a 2860 hectare site and already has a population of about 32,000 people.
The city already has a shopping centre, a private hospital, schools and childcare centres, commercial office buildings and two low-density suburbs.
The apartment precinct will be planned and designed by Woods Bagot and Place Design Group.