Fortitude Valley: All the ingredients for an undeniable transformation
Fortitude Valley sits on the northern cusp of Brisbane’s CBD. The vibrant inner-city hub is known for its controversial residents and visitors. Most commonly known as the centre of Brisbane’s nightlife, ‘The Valley’ is home to many nightclubs and bars. By some, it’s labelled as the ‘ghetto’ of Brisbane occupied by the ‘underworld’. The precinct is reminiscent of Sydney’s Kings Cross and Redfern, both previously associated with less-than desirable demographics and the criminal underworld. Now, both suburbs are home to some of Sydney’s top retailers and restaurants, we’ve seen a dramatic shift in the suburb and its perception.
By many, Fortitude Valley’s transformation has been labelled as the most exciting in the country. The Urban Developer has reiterated this in various articles, click here to access the most recent. This article highlights many of the already established exciting precincts within Fortitude Valley, some include;
- Bakery Lane, a café and restaurant precinct
- X Cargo, an indoor/outdoor dining, bar and leisure experience. The venue has been built with recycled shipping containers and offers multiple rooftop bars and beer gardens as well as an open-air cinema with live music and DJs
- And many more…
The eclectic mix of the gothic themed nightlife and some of the city’s most popular bar and dining venues brings a divided demographic together. The bar, dining and entertainment is by far, the growing sector. This is driving the gentrification and evolution of the suburb.
A quick google search presents various headlines on the historic Fortitude Valley sites which are being transformed into the homes of top retailers and operators of the food industry. Examples include the ‘Pasta Laboratory’ inspired by fresh pasta recipes from Bologna, Italy. Also, the announcement of a Stone & Wood Brewery in a heritage building built back to 1936. Arguably the most significant is the launch of Brisbane’s new Festival Hall which will call Fortitude Valley home, bringing back Brisbane’s live music scene which has never fully recovered since the old Festival Hall was demolished in the CBD in 2003.
In addition, The Carlile is a brand-new, high-end hotel service being delivered on James Street. This $100 million luxury resort will attract major events and high-profile guests.
The turnover of landmark, boutique hotels to new owners with strategic visions for the short-stay accommodation industry in Fortitude Valley are signs of the change. Fortitude Valley is beginning to transform into the exciting precinct which it has long promised to be. We’re excited to have clients, staff, family and friends who are investors in the suburb.
Another major part of the suburbs transformation was the emergence and delivery of high quality residential offerings. One in particular, the FV precinct delivered by GurnerTM, a Melbourne based developer. GurnerTM has delivered numerous projects in both Fitzroy and Collingwood, two of Melbourne’s inner ring suburbs which have experienced a very similar transformation. He understands what needs to be delivered to drive the suburbs evolution from a residential perspective.
This is all occurring in line with the strong growth in Brisbane’s population. Demand for the sunshine state continues to rise on the back of its relative affordability. In the 12 months to March Queensland saw an additional 24,000 residents move to the state, most of which originated from New South Wales.
The future of Fortitude Valley and Brisbane is bright, we’re confident in the long-term prospects of the city.