Construction of Ascot Green at Eagle Farm Racecourse to begin this week
An artist’s impression of the first tower at the Ascot Green project at Eagle Farm. Picture: Supplied
A NEW $950 million masterplanned residential precinct at Eagle Farm Racecourse is out of the gates, with work beginning this week.
Developers Mirvac and Brisbane Racing Club yesterday announced construction had started on the Ascot Green precinct’s first residential tower, Ascot House.
Residents in the nine-storey, 91-apartment tower and 12-storey Tulloch House will have the best view in the city on race days, with the tower right next to the turf track.
About 1000 apartments will eventually line the racetrack, along with retail, childcare and aged care facilities.
More than 60 per cent of apartments in Ascot House have already been sold since it went on the market in July.
The start of building on the residential tower comes after a four-month construction delay on renovations at the Eagle Farm Racetrack stabling facilities, after two workers were crushed by a concrete slab in October.
Brisbane Racing Club chairman Neville Bell said the delay cost $500,000.
“We are trying to quantify those costs now,” he said.
“Back-of-the-envelope number would be somewhere between $400,000 and $500,000.
Mr Bell said the club was trying to ensure residents have the services they need.
“We’ve recently submitted a development application for a new shopping precinct in the area that would include 11 specialty retail stores and a major supermarket, further bolstering the area’s appeal,” Mr Bell said.
“In addition, we currently have a new childcare centre on Lancaster Rd under construction, and we are taking expressions of interest for an aged-care facility in the area.”
Brisbane Lord Mayor Graham Quirk said the revitalisation would cement the area as a premier destination.
Story courtesy Charlie Peel Urban Affairs Reporter, The Courier-Mail