Brisbane Boutique Apartments Get Go-Ahead in New Farm

DEVELOPMENT I PHIL BARTSCH I 24 MAY 24 I The Urban Developer

Keeping it in the family, Brisbane-based developer Frank Licastro has secured the green light for a boutique apartment development at inner-city New Farm.

He has teamed with cousin and builder Joe Licastro’s Signature Property Projects on the four-storey project.

It was a strategic approach under the prevailing industry challenges that has enabled a more streamlined process, the Frank Developments boss said.

“Having that sort of collaboration and family involved you’ve got a sense of trust and the partnership gives buyers full confidence the project is moving forward in a timely manner,” he said.

“Also, finance definitely has more appetite at the moment with that kind of builder-developer model. And having that team with the experience to be able to deliver these sorts of projects de-risks it and helps get finance across the line.”

Earmarked for a 1074sq m site at 121 Oxlade Drive, the development yield has been bumped up from 10 to 12 two, three and four-bedroom apartments with basement carparking and rooftop pool and wellness facilities.

“We’ve removed the double-storey apartments up the top and turned them into two huge penthouses with private roof terraces,” Licastro said.

Off-the-plan contracts already have been signed for two of the apartments without any marketing. The 12-month construction program is due to start in July.

The BYculprit-designed scheme is to be called Della Rosa, an Italian phrase meaning “of the rose” and inspired by the site’s late neighbour, Rosa Oxlade, after whom Oxlade Drive was named.

“Our roots also run deep in New Farm,” Licastro said.

The Licastro cousins’ connection to the inner-city suburb dates back to their early childhood years, growing up visiting their Nonno.

“For us, this project is not merely about development, it’s about honouring our heritage, embracing innovation, and fostering a sense of belonging within the New Farm community,” Joseph Licastro said.

The development will replace an existing two-storey residential complex with eight apartments on the corner block, which also fronts Sargent Street and is within a traditional building overlay.

According to the planning report, its design “uses a combination of contemporary and more traditional elements commensurate with the New Farm lifestyle and character”.

“The architecture is a nod to the vernacular Queenslander house,” it said.

Ground-floor apartments will include large private yards that encourage outdoor entertaining and recreational use directly from the living areas. All the upper-floor apartments are designed with balconies extending the living areas and bedrooms.

“The design team sought to capture the charm of ‘yesterday’ while seamlessly integrating the conveniences of today,” BYculprit design director Luke Henderson said.

“The project is a harmonious blend of nostalgia and modernity aiming to create spaces that are both timeless and cutting-edge, inviting residents to experience the best of both worlds.”

Licastro’s development workbook also includes the 25-level beachfront Gold Coast tower Mira Residences comprising 11 double-storey apartments along Garfield Terrace at Surfers Paradise.

Basement works are underway on the project, for which he has put together a Gold Coast construction team, and it is due to be coming out of the ground in the next couple of months.

AUTHOR Phil Bartsch