Frank lines up fourth Teneriffe project
Frank Licastro has lodged his fourth development application in Teneriffe – Brisbane’s priciest suburb measured by median value.
Via Frank Developments, the executive is seeking to replace 26-30 Helen Street with an eight-level building containing 38 apartments and an activated rooftop.
Already branded Elena, the end value is put at c$191 million.
The proposal follows the sold-out Ducale at 33 Wyandra St and the recently lodged 22-storey The Francis at 22-40 Wyandra St.
Frank Developments is also proposing Murano, with 45 apartments over 10 storeys at 37 Wyandra St – a site acquired for $14m in March.
Teneriffe is about two kilometres north-east of Brisbane’s CBD.
Mr Licastro said the developer’s concentration in the pocket allowed it to consider how its projects interacted with one another.
Four and counting
Frank Developments’ pipeline of apartments in the suburb exceeds 250; Ducale, which is under construction, will contain 26, while The Francis is designed with 147 (continues below).
Cavill Architects penned Elena, with 102 car parks in three basement levels.
Several apartments will be designed with three-bedrooms.
Two penthouses will each have a private pool.
The ground floor will contain a mix of shops and restaurants around landscaped areas.
At the edge of Teneriffe’s Heritage Sub-Precinct, it is near the suburb’s historic woolstores and the James Street precinct.
The application comes five weeks since realestatesource.com.au reported Fortis outlaid $31.5m for a two-level Teneriffe office with long-term plans for an apartment project.
REA puts Teneriffe’s median house value at $5.2m, up 43.5 per cent over the year to July, 2026, while the median unit value is $1.15m, a rise of 18.6pc.
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