Tim Gurner expects Brisbane unit rebound as soon as mid next year

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first_imgVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:02Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:02 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenSneak peak: FV building02:02PROMINENT property development Tim Gurner has sunk billions into the apartment market across the major capitals, and he believes Brisbane will be ready for its second unit surge within a year.Mr Gurner, who has just completed the $600m iconic FV building in Fortitude Valley which sold out within 12 weeks in 2015, expected the next wave of buildings to begin when construction costs drop mid next year.He said having supply come to a stop was a good thing,“The market dictates what it wants and supply has stopped – it hasn’t slowed, it’s stopped – which is a great thing. Everyone who’s bought is going to do really, really well because there’s not going to be that supply that everyone talked about.” The FV building has reshaped Fortitude Valley.He believed new Brisbane apartments such as those in his FV building would not have issues attracting tenants.More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour ago“The tenant interest we’ve had in here is strong,” he said. “We can’t even cater for the number of people that want to get through. There is a huge amount of occupancy demand.”“I am not interested in doing a product that’s mass market or typical. I expect our owners to do really well and that’s why we’ve taken it to the level we have. We invested another $9m here on top of what we originally thought through all the amenity levels and apartments. It’s a bit of a love, I wanted to create a space better than anything in the market and then we wanted to take it up again to an international luxury hotel standard.” FV has a luxury hotel feel.Mr Gurner said Brisbane “was a little bit too hot at one point” more than a year ago.“I think that reflected in construction prices that went through the roof, but now we would be looking to launch projects up here in mid next year when construction pricing comes back a bit.”His next Brisbane project set to launch in 2018 will have 200 apartments next door to FV.“And we’re looking again now,” he said, for more sites in Brisbane.last_img read more

Four Loko questioned by FDA

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first_imgThe Food and Drug Administration issued a warning Wednesday to manufacturers of alcoholic energy drinks such as Four Loko about the dangers of added caffeine, but USC students say it’s the low price that makes these drinks so popular.The FDA warning said the combination of caffeine and alcohol is dangerous and told manufacturers they must take action to reduce risks to those consuming the drinks.“[Four Loko] is probably the most popular drink this semester,” said Charlie Scully, a senior majoring in business administration. “I’m not for it being banned, but I understand why.”A 23.5-ounce can of Four Loko typically sells for less than $3, and one can is equivalent to about four 12-ounce beers.Students such as Scully and Ari Jakobson, also a senior majoring in business administration, said most of their peers drink Four Loko because of its low price.“It’s definitely a popular drink among my friends, partly because it’s so low-priced for the amount of alcohol it contains,” Jakobson said. “I think the negative publicity surrounding it recently also gives it a positive effect for college students who are looking to be a little crazier and rebel a little bit.”“Drink one of those and you’re set for a while, and two of those you can go crazy,” Scully added. “People like that feeling.”Health experts say the combination of caffeine and alcohol often results in students becoming unaware of how drunk they are, because of the masking effect of caffeine.Four Loko contains 135 mg of caffeine in one can. When the caffeine wears off, drinkers feel the full effects of the alcohol.“Four Loko is dangerous because it causes students to get drunk without even knowing it, causing impaired judgment and health issues,” said Jennifer Unger, a USC professor of preventative medicine.Before the FDA warning, however, the maker of Four Loko, Phusion Projects Inc., already said it was removing the caffeine content from its drinks.Four Loko has become popular among college students around the nation for several months, but it entered the national spotlight when nine students from Central Washington University were taken to the hospital after consuming the drink.“It is likely that Four Loko is chugged, producing the effect of downing a half-pint of vodka,” said Steven Sussman, a professor at the Keck School of Medicine.Four states — Washington, Michigan, Utah and Oklahoma — have already banned alcoholic energy drinks, but federal regulators have not confirmed that a national ban is imminent.“Alcohol toxicity is a real issue here; students who down a can will get drunk unless they are heavy drinkers,” Sussman said. “What is needed is a large social climate change regarding what the rights of passage and entertainment in college might best be.”Keely Flanagan, a junior majoring in screenwriting, said the effects of Four Loko aren’t always pleasant.“When you finally sober up, you feel dizzy and really sick to your stomach. It’s like you’re hung over, but wired and wide awake so you can’t sleep it off,” she said. “I think it’s popular because of the mythology of it. It’s the drink of our generation — part energy drink, part alcohol. It’s like liquid nitrogen that won’t necessarily kill you.”Dara Weinraub and Suji Pyun contributed to this report.last_img read more