Its a sleepy little town
http://townsvillebulletin.news.com.au/common/story_page/0,7034,15429196%5E14790,00.htmlDeveloper flags seafront project
BRISBANE developer Consolidated Properties says it has a visionary seafront project that will transform Townsville.
However the company's managing director, Don O'Rorke, said yesterday he could not reveal details of the $600 million scheme until the State Government had decided on two competing proposals.
Consolidated Properties has teamed with Jupiters Hotel & Casino and Breakwater Island owner Tabcorp Holdings to build Townsville's ocean terminal project - a mixed-use residential development incorporating a marina and cruise ship terminal on a 50ha area, including 6ha of Breakwater Island land and seabed to be reclaimed on the seaward side of Breakwater Island.
Mr O'Rorke said they were well advanced with plans and had had in-depth discussions with the Government when a rival bid emerged.
A consortium led by Macquarie Bank submitted a $1 billion scheme, including a cruise and military ship terminal on May 6.
"I feel we have a good project and a project that's well planned and well thought out, that's visionary," Mr O'Rorke said.
"Macquarie Bank is a substantial organisation.
"It's good for the people of Townsville that they are going to get a choice.
"I'd like to think we are going to win but it's out of our hands."
Tabcorp owns 6ha of land surrounding the Jupiters Townsville Hotel and Casino and the Breakwater Marina.
The plan is to reclaim a further 45ha of land between the breakwalls in front of the Jupiters hotel.
State Development Minister Tony McGrady has told the Townsville Bulletin the Government is assessing the two proposals against its value-for-money framework.
He said Cabinet would decide which was the best offer and whether or not to pursue it in due course.
Mr O'Rorke said they hoped to get an answer from the Government shortly.
"Whether that's days, weeks or months remains to be seen," he said.
By TONY RAGGATT
ALMOST $1 billion worth of apartment and townhouse projects are set to transform the face of Townsville as the city undergoes an unprecedented transformation.
According to property developers, the city is undergoing the type of reformation experienced when Brisbane hosted Expo 1988 and then transformed its riverfront with the Southbank development.
Brisbane developer Don O'Rorke, whose Consolidated Properties is teaming with Tabcorp and vying to develop the $600 million ocean terminal project on The Strand, said Townsville was coming of age. "The city is going through a transformation," Mr O'Rorke said.
"There's definitely a consciousness now that Townsville is emerging as a city."
Developers feted property writers from around Australia yesterday to highlight the region's phenomenal property boom.
The ocean terminal project is the city's largest proposal involving a cruise ship terminal and residential estate on 45ha of reclaimed land seaward of the Jupiters Townsville Hotel and Casino.
Two groups, Tabcorp-Consolidated Properties and a Macquarie Bank-led syndicate, are vying for the right to develop the project.