Kokoda Belongings is about to turn out to be Teneriffe’s riverside business sand and gravel manufacturing facility web site right into a $1.5b mixed-use group precinct.

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A $1.5b waterfront building in Teneriffe will see over 300 new houses, a 160-room resort, skybridge and an extension to the riverwalk the place a sand and gravel manufacturing facility now stands.

The transformational undertaking by way of Kokoda Belongings at 17-27 Skyring Terrace – which is anticipated to start building in overdue 2024 – will exchange Teneriffe’s Business Riverside Sands web site with a brand new residential, retail, meals and beverage precinct, in line with developer Kokoda Belongings.

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Kokoda Belongings plans to increase the riverwalk opening up the previously inaccessible house for Teneriffe cyclists, walkers and runners.

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A building utility has been filed for the 17,612sq m combined use web site which has greater than 220m of river frontage and had housed the sand and gravel industry for roughly 50 years.

Kokoda Belongings, which purchased the web site for “upwards of $100m” in Might this yr, showed an “prolonged riverwalk will toughen lively shipping connectivity for walkers, cyclists and different modes of shipping, whilst new laneways will supply hyperlinks throughout the web site to the ferry terminal and CityGlider bus prevent”.

Native mangroves will likely be retained and inspired and a skybridge will likely be constructed between the towers.

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“Moreover, an extra pathway will likely be supplied for public get right of entry to at the web site’s northern boundary, connecting the newly prolonged riverwalk again to Skyring Terrace.”

Kokoda Belongings founder and managing director, Mark Stevens stated the undertaking would open up the up to now inaccessible waterfront spot to the general public.

“It is a chance to create one thing particular for Teneriffe and the wider neighbourhood that speaks to the historical past, high quality, and sensitivities of the native space,” he stated.

The undertaking is estimated at $1.5b total and hopes to start building overdue 2024.

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“Kokoda Belongings is hooked in to offering riverfront amenity in this web site and we’re dedicated to making a modern, welcoming position that extends Teneriffe’s tradition to the riverfront.”

The design companions for the undertaking have been Cottee Parker Architects, Carr, Urbis The town Making plans and Landscaping.

The web site used to be anticipated to have “beneficiant landscaping during”, conserving mature fig timber and mangroves native to the realm.

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