Mackay Commercial/Residential

Hi all

I own a small parcel of land in the cbd in Mackay just over 2000sqm
I don't really know what to do with it... A few option I have considered is building a commercial high rise building ( I'm not to sure what the demand is like )
Or build a residential highrise ( I personally think there is an over supply at the moment so I don't want to flood the market any more at this stage could possible build around 120-140 apartments which would mean 2 levels of basement parking)

With the new planning scheme coming in effect soon council requires minimum 8 story building or max 50m height which is about 15 levels
I know it's not the best time to do anything but I'm hoping things will start turning in 6-12months from now and that will give me time to draw up plans and go through council

Any thoughts/comments/suggestions would be appreciated
If anyone wants to talk about it in further detail let me know

Thanks in advance
I ride with the CBD Town Planner from Mackay Regional Council.

Flick me a PM and I'll put you in touch. He will give you exactly what council are looking for in the CBD.