Construction has officially commenced on a major community extension project at Ingenia Rental Eight Mile Plains, with ground-breaking on the first lot of 56 new condo homes.
With the first stage of homes to be completed by October 2021, the $7.1 million dollar community expansion marks a major milestone for the growing rental community, as demand for one and two-bedroom rental offerings in Brisbane skyrockets.
Ingenia Communities Portfolio Manager Residential Communities Nicole Jentz said that with Queensland becoming an increasingly popular migration destination as a result of COVID, the already stretched local rental market would need to see some serious change.
“I think now more than ever we understand the importance of flexible and available rental options in Brisbane. As people relocate here for work or lifestyle, and locals also search for alternative living options, there continues to be major gap in short to medium-term rental offerings,” Ms Jentz said.
Brisbane’s population grew by 1.9 per cent during 2019−20, recording the highest growth rate of all Australian capital cities, according to the Australian Bureau of Statistics.
By 2031 it is expected that the population will easily grow to three million despite current lower international migration – and that is before any impact of the recent Olympic announcement is known.
“The Ingenia Rental model is unique because our residents are able to secure flexible lease terms that suit their lifestyle or working arrangements – with access to quality community amenities like a pool, BBQ area and communal recreation space,” Ms Jentz said.
“For renters looking for one or two-bedroom options, the current market is so incredibly competitive and those who are able to secure smaller units or homes aren’t necessarily getting value, whether that’s due to underwhelming quality, location or amenity.
“Aside from the distinctive accommodation model itself, the community feeling we strive to create in all of our locations is something that very few rental offerings can match.
“The connections our residents have with one another, and their onsite Community Manager is quite special, and being able to rely on an in-built community support system can make a major difference for those who might be new to the area.
The construction of all 28 one-bedroom and 28 two-bedroom condos are expected to be completed by March 2022, with the new 8,500m2 precinct looking to meet rental demand in southern Brisbane.
Councillor Steven Huang said that it was exciting to see the vision that Ingenia Rental has for Eight Mile Plains and how this will benefit residents and businesses in the broader community. “The growth in the Brisbane region is extremely exciting and, as we look forward to the 2032