$2.1bn QLD Eagle Street Pier redevelopment marks new major milestone

Brisbane’s Eagle Street Pier and Waterfront Place precinct’s transformation is a step closer to becoming a reality as property developer Dexus Group lodges development plans with Brisbane City Council for the $2.1 billion Waterfront Brisbane project. 

This redevelopment is anticipated to create more than 1,000 construction jobs over the next 10 years and will turn the precinct into a “premium business and leisure destination”. Waterfront Brisbane is also expected to create up to 900 operational jobs once construction is completed. 

“This is a major milestone in a project that will create thousands of jobs for locals in years to come. 

“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,” State Development Minister Kate Jones said. 

The Council will now begin assessment of the project, in accordance to the Planning Act as well as the Council’s vision that was identified in the draft City Reach Waterfront Master Plan. 

Construction on the multi-billion-dollar project is anticipated to commence in 2022, subject to development approvals. 

“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. 

“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 Chief Investment Officer Ross Du Vernet said. 

Source: QLD Department of State Development, Tourism and Innovation

The Waterfront Brisbane development will feature: 

• Two towers of 49 and 43 floors on the Eagle Street Pier site 
• Approximately 9,000-SMQ of riverside public open space 
• Expansive, shaded terraces with lush, subtropical landscaping 
• A widened and upgraded Riverwalk with a 280-metre waterfront promenade and a minimum six-metre-wide thoroughfare allowing safe transit through the precinct 
• A river link providing cycle and wheelchair connectivity between Eagle Street and the river 
• New moorings for commercial craft, including river taxis, and a new Citycat terminal will contribute to the riverfront ambiance 
• Improved pedestrian amenity with wider Eagle Street footpaths 
• Fresh and convenient mix of dining options 
• Improved access to and views of the river 
• 7-day a week destination 
• The renovated heritage listed Naldham House 

The first tower is due to be completed in 2026. 

“As our economy begins the process of recovery from the COVID-19 pandemic, it is so important to keep the momentum going with major projects that will deliver jobs for Queenslanders,” Minister Jones said. 

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Source: Queensland Government; Dexus Group; The Urban Developer