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Parkland Plan Impact

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BRISBANE City Council's plans to turn the old Milton Tennis Centre into 3.5ha of parkland will reduce the future supply of new apartments in the suburb and increase the "scarcity value" of stock, said Matusik Property Insights director Michael Matusik.

The Milton, a 30-level apartment block that is anticipated to begin construction this year, will feature 298 one- and two bedroom apartments and is the only project now selling off-the-plan, said Mr Matusik. "(Other projects) are likely to be of a much smaller scale than The Milton."