By Juliano Oliveira
The plans involving Brisbane’s Eagle Street Pier redevelopment were lodged by commercial property group Dexus with Brisbane City Council, today, who now will assess the $2.1 billion project.
Two towers of 49 and 43 floors on the Eagle Street Pier site will be erected, as well as restaurants, shops, entertainment and public areas. City Reach Riverwalk is also be upgraded with a circa 280-metre waterfront promenade.
Construction on the Eagle Street Pier site is expected to commence in 2022 and the first tower to be delivered in 2026.
Dexus Chief Investment Officer, Ross Du Vernet said Waterfront Brisbane would unlock the considerable potential of the Brisbane CBD gateway site which had remained under-developed for almost 30 years.
“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.
After the whole transformation, Brisbane’s Eagle Street Pier is expected to be a premium business and leisure destination, according to State Development Minister Kate Jones.
“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,” she says.
The landmark project is estimated to provide a $5.7 billion boost to Queensland’s GSP (Gross State Product) over the next 40 years, including $230 million in value add to the State’s construction and professional services sectors.