A vision to convert Brisbane’s Eagle Street and surrounds into a first-class business and leisure destination, and to revitalise Brisbane’s dining hub, Dexus has put up a proposal to use the space as a mixed-use precinct, integrating two new towers on the Eagle Street Pier site. The space will include 1.5 hectares of public green shaded space, a wider and safer Riverwalk, and many dining options. With the option for a hotel, commercial and retail spaces the $1.4 billion proposal will support up to 740 jobs a year.
The Waterfront Precinct will open the opportunities to transform the Eagle Street area and surrounding spaces into more of a lifestyle and business destination. The new Riverwalk will be constructed wider than the current space, creating a safer and more easily accessible path for pedestrians, adding extra riverfront access, and better public space.
The motivation for the proposal is to rejuvenate Brisbane’s leading dining hub, give the waterfront back to the Brisbane community, and create a space that celebrates the sub-tropical climate Brisbane is famous for. The proposal will deliver an international-standard business hub and a tourist destination right in the heart of the Brisbane CBD.
Dexus, who currently own and manage the buildings on the proposed redevelopment site is the nation’s largest owner and manager of prime grade commercial property. Their portfolio includes more than $4.2 billion of investments in Queensland alone, which includes retail, industrial and office spaces.
The proposal also presents a unique prospect to reconfigure the way pedestrian and vehicle traffic move through the precinct. A portion of Eagle Street is proposed to be closed to vehicular traffic to create a shaded, cyclist and pedestrian-friendly environment, with Dexus offering up land to widen Market Street to combat the changes.
The Waterfront Precinct proposal is currently at Stage 2, which means the government is working with Dexus to explore the feasibility of the proposal.