Urban renewal in Woolstore Precinct, Teneriffe

Woolstore Precinct, Teneriffe, Queensland

The Woolstore Precinct, Teneriffe as Queensland's heart of wool industry, ca. 1925

Woolstore Precinct today with renovated heritage buildings and commercial activities on the ground level, encourages a desirable riverfront lifestyle

Teneriffe Boardwalk, as part of the Catalina & Teneriffe Complex Developments, opens up the riverfront to public and increase connectivity to the CBD and other riverside suburbs

Flooding of part of Teneriffe Boardwalk across from Ansonia Apartments, next to the historical Engine Room of former Capricorn Wharf on 12 January 2011 during the Queensland Flood.

Located within the suburb of Teneriffe, Queensland, the Woolstore Precinct is the riverfront area bounded by Wyandra Street (from riverfront to no. 55 Wyandra St) and Commercial Road (including the Skyring Terrace side of Helen Street and Commercial Road) at the north, Florence Street at the west, running down along southern part of Chermside Street, including Macquarie Street and up to Hasting Street at the south. (See Precinct Map)

The Woolstore Precinct is characterised by its many historical wool stores and other industrial structures erected in the beginning of the 20th century. Once dominated by wharves, wool stores and factories, the area has been gradually transformed into a medium-high density residential community starting from the early 1990s. By preserving its distinctive industrial heritage, together with the addition of upmarket apartments, parks, boardwalks, retailing and business premises that promotes riverfront lifestyle,[1] the Woolstore Precinct is today one of the most sought-after addresses in the inner city suburbs of Brisbane.[2]

The transformation of the inner city suburbs has been largely driven by the rapidly increasing concentration of business services, education and health services in the Central Business District (CBD) and the nearby business districts such as Southbank, Milton, Herston, Toowong, Indooroopilly and St Lucia. Professionals, managers and overseas students are attracted by the inner-city living lifestyle[3] Housing market in suburbs surrounding the CBD thus experienced increasing pressure. It is projected that 138,000 new in-fill dwellings are needed by year 2031 in order to satisfy the rapid growth.[4]

Through the urban renewal projects, Newstead & Teneriffe region, including the historical Woolstore Precinct, has been able to contribute to the housing market by increasing its dwelling number from 440 (1991) to 3500 (2006). This number is expected to grow to 8700 dwellings in 2031.[5]

Governments at all levels have been active in encouraging urban consolidation. This is seen in various forms, including Brisbane City Council encouraging in-fill housing development, and the master-planned redevelopment of the inner north-eastern suburbs led by the Urban Renewal Task Force.[4]

Although some concerns of displacement have been expressed,[15] the redevelopment of the Woolstore Precinct is generally well received by old and new residents. The new apartments has been popular with young professionals, older 'empty nesters' and interstate migrants,[16] with over 50% of all dwellings being rental properties.[17] Annual rental and capital growth of the property market continue to be healthy in the past years, indicating the high popularity of the area.[18]

Although the Woolstore Precinct is situated close to the Brisbane River, the severe flood that occurred in 2011 did not cause any major damage to the buildings in the precinct. Even though in the nearby suburb of New Farm a considerable amount of residence and commercial area was inundated during the river surge (and by stormwater backing up drains), only parts of the riverside walkways in the Woolstore Precinct were flooded. All buildings and the major roads of Macquarie Street, Vernon Terrace and Skyring Terrace within the boundary of Woolstore Precinct were located high enough from the highest water level recorded and thus were safe from the flood. River debris were washed up at the end of Commercial Road near the Teneriffe Ferry and also on the walkway outside Eve Restaurant. The Nouvelle Apartments on Skyring Terrace reported some drain backflow problem but was not severe.[19] Some residences at the northern end of the Vernon Terrace and Skyring Terrace suffered electricity loss for a variable period during the flood.

• Nearmap. Flood map of Brisbane on 13th Jan 2011. http://www.nearmap.com/?ll=-27.468907,153.025475&z=14&t=h&nmd=20110113