Should more of Brisbane’s older office towers make way for apartments?
The plans for 450 Queen Street highlight the debate about whether older, half-empty officer towers can be converted into apartments in this post-COVID era when more people are working from home.
PGIM REAL ESTATE FINANCE HOLDING COMPANY has applied to Brisbane City Council to create a temporary CBD park on the site at 450 Queen Street (formerly known as 444 Queen Street).
Our city reporter Courtney Kruk recently looked at COVID’s effect on Brisbane’s office culture. Brisbane workers spend about 33 per cent of their work week at home.
Brisbane’s Councillor Krista Adams noted that 40 per cent of our business comes out of the CBD, “but it’s also becoming much more of a place where people are living”.
But unlike #Melbourne and #Sydney, which were hit hard by the pandemic, there are signs that #Brisbane’s CBD is faring surprisingly well.
Data released by the Property Council last year showed that in the six months to July 2023, the CBD office vacancy rate fell from 12.9 per cent to 11.6 per cent due to continual strong demand from businesses looking to invest in Brisbane.
This leads us to the question: Should more of Brisbane's older office towers make way for apartments?
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Maven studio Director | Brisbane Airport Corporation Master Architect | UQ School of Architecture Industry Advisory Board Member | Assemble Brisbane Stig | UQ EAIT Mentor of the Year 2022
1 年Great question Brisbane Times but as an Architect who has prosecuted this site (and building) to great intent with various architectural adaptations for both commercial and residential use... there are more constraints then opportunities with this 'old lady'. Adaptive reuse is imperative for a circular economy however we also have to respect the capacity and commercial integrity of investors and know when a building has met its end of life.
Senior Architect
1 年There are real reporposing potential on existing structures that don't seam to get the attention they deserve, it's already built... It doesn't produce any more carbon! What is the industry waiting for?