A 7.1-hectare industrial site in South Brisbane is set to be transformed into a major new riverside precinct.
The Queensland government has awarded Lendlease the tender to develop the Visy glass recycling site, which will feature more than 4,000 homes and approximately 1.2 hectares of new public space.
The public space will include riverfront promenades, boardwalks, plazas, amphitheatre-style areas, parkland, and shared pedestrian and cycling pathways.
Approximately 800 residential units and the public sections of the development are expected to be completed in time for the 2032 Olympic and Paralympic Games.
Background of the Site
- The site was purchased by the previous Labor state government in 2022 for $165 million, originally intended for an Olympic broadcasting centre.
- Those plans were cancelled after the LNP government's 100-day review of Games planning.
- In October last year, developers were invited to submit proposals.
- The tender process received over 80 expressions of interest.
Key Statements
Deputy Premier Jarrod Bleijie, who also serves as planning minister, stated that the land would become "a new South Bank."
"Does it matter?"
When asked about making the ownership structure of the land public, Deputy Premier Bleijie argued that taxpayers are getting a good deal because the public will gain access to 1.2 hectares of previously inaccessible land.
Both Bleijie and Lendlease chief executive Claire Johnston declined to disclose whether the government received payment or if the land would remain in public ownership, citing commercial confidentiality.
Bleijie referred further inquiries to Economic Development Queensland, which did not provide comment.
Lendlease previously developed the Barangaroo area in inner Sydney. The Visy glass recycling facility is scheduled to close in April.