Construction has officially commenced on a significant new residential project in Cairns, with work beginning on a $30 million, 72-apartment complex in the suburb of Smithfield. The development is strategically located near the James Cook University campus and is seen as a critical response to the city's ongoing housing and rental shortage.
Project Details and Developer Vision
The project, being developed by local firm Vantage Building Group, is situated at 2-4 Stitt Street. It will comprise a mix of one, two, and three-bedroom apartments spread across two four-storey buildings. The site was acquired for $3.2 million, and the total development cost is estimated at $30 million.
Vantage Building Group director, Michael O'Brien, emphasised the project's importance for the local community. He stated that the development is designed to provide much-needed quality housing options, particularly for students, staff, and professionals connected to the nearby university and the broader Smithfield area. The complex is expected to be completed and ready for occupancy by mid-2025.
Addressing Cairns' Housing Pressures
This development arrives at a crucial time for the Cairns property market. The region has been grappling with an extremely tight rental vacancy rate, which has placed significant pressure on availability and affordability. The new apartments are anticipated to inject a substantial number of new rental properties into the market, offering some relief.
The project is also a major boost for the local construction industry and economy. It is projected to create approximately 150 jobs during the construction phase, providing work for a wide range of tradespeople and contractors in the Far North Queensland region.
Strategic Location and Future Impact
The choice of Smithfield for this large-scale project is no accident. The suburb is a major growth corridor for Cairns, home not only to James Cook University but also to the Cairns International Airport and the expanding Smithfield Shopping Centre. This infrastructure makes it a highly attractive location for residents seeking connectivity and convenience.
Local real estate experts have welcomed the news, noting that such purpose-built, high-density developments near educational and employment hubs are essential for sustainable urban growth. The completion of the 72 apartments in 2025 is expected to have a positive flow-on effect for local businesses and services in Smithfield.
This project represents one of the larger private residential construction initiatives currently underway in the Cairns region and signals continued confidence in the long-term growth of the Far North Queensland economy.
