A huge development application for a prime riverfront stretch of commercial real estate has been lodged with Brisbane City Council.
Dexus has lodged development plans with Council for its $2.1 billion transformation of Eagle Street Pier and Waterfront Place. The massive project will supercharge the business district, promising global-standard business and fresh leisure additions.
The Waterfront Place development application includes two new towers (49 and 43 floors) at Eagle Street Pier garnished with large terraces and appropriate subtropical landscaping. In total, Waterfront Place will cover 9,000sqm at ground level and 120,000sqm of office space.
Waterfront Place will blend a new section of Riverwalk with a 280 metre riverside promenade, allowing six-metre wide pedestrian transit through the precinct. The landmark project will add a new Citycat terminal and moorings for other commercial craft.
For fans of Brisbane’s beauty, the positioning of the towers will open up river and city views that have been lost for 30 years.
Eagle Street Pier will upscale its premium dining reputation and add a café strip and retail spaces.
The state government has been working closely with Dexus to help Waterfront Place over the line. State Development Minister Kate Jones said Waterfront Brisbane was a city-shaping development, which would breathe new life into an aging section of the city’s riverside.
“We understand that new infrastructure is crucial to the Queensland’s economic recovery,” Ms Jones said.”
“Lodgement of the development applications for Waterfront Brisbane is a great step in the right direction and a vote of confidence in the Queensland economy.”
Dexus Chief Investment Officer, Ross Du Vernet said Waterfront Brisbane would unlock the potential of the area which has been languishing for decades.
“Waterfront Brisbane will be a great outcome for Brisbane with the renewal of the city’s premium business district, activation of the river and improvements to the Riverwalk,” he said.
“The project’s scale and central riverfront location will firmly establish Waterfront Brisbane as a world class destination and is set to reshape the daily experience of the many people who visit and work there.”
Dexus estimates the project has a potential 1000 construction jobs over the next 10 years and roughly 900 operational jobs once complete.
Subject to development approvals, construction on the Eagle Street Pier site could commence in 2022, with the first tower being delivered in 2026. The project will now be assessed by Brisbane City Council in accordance with the Planning Act and Council’s draft City Reach Waterfront Master Plan.