Metro unveils 200 million apartment tower

Metro unveils $200 million apartment towerMetro Property Development has unveiled plans for a 30-storey, 376-apartment residential development on a newly acquired site in the heart of Brisbane’s cultural precinct.The Brisbane Casino Towers project will be launched in mid-June after Metro acquired the site at 19 Hope Street in March for $18.75 million. The project will overlook the planned new casino development at Queens Wharf in the Brisbane CBD.Metro has also finalised the purchase of a separate residential-zoned site in nearby Manning Street where it is planning a 30-storey, 400-apartment development. Metro’s managing director Luke Hartman said South Brisbane was one of the city’s best performing markets, with more than 26,000 white-collar workers employed in the area, and more than 80,000 students attending universities and colleges nearby.”We think there is still an undersupply of apartments in the area and there will be plenty of demand for affordable, quality product,” Harman says.The Brisbane Casino Towers project was designed by ML Design and includes a pool, gymnasium, barbecue and entertaining area and lobby.Metro currently has a delivery pipeline exceeding $2.5 billion across 47 projects.