THE massive Ipswich Central redevelopment undertaken by Ipswich City Council started with an idea credited to a former mayor. In 2008, Paul Pisasale suggested council buy the failing Ipswich City Square shopping centre.
It would solve the impasse of an absent landlord unwilling to redevelop or sell.
Under threat of being declared a State Development Area to facilitate compulsory acquisition, the owner relented and sold the centre for $45 million to council supported by a loan from the State Government.
Additional properties were bought later.
With the passing of time, it’s easy to forget how dire the future was looking without significant redevelopment along Nicholas Street.
The added complication was that not all properties in the street were part of the old “square”.
Some were and still are privately owned.
It was always going to be a difficult sell to ratepayers, but the project started within a reasonable time frame.
This was after settlement in March 2009.
Council was also open about the fact it would be a 10-to-15-year redevelopment.
Investment partners were called for in March 2010 and by December Leighton Properties became the partner to build the first stage on the corner of Brisbane and Bell streets.
This is the ICON tower we see today. It was sold prior to completion in November 2013.
There were many delays and much heartache along the way as businesses suffered but the $311 million redevelopment is basically now complete except for some remaining tenancies to be filled.
Got something to share? Contact Inside Ipswich [email protected].
