Sitting at the heart of Brisbane’s financial district, Eagle Street Pier has long been a hub of food and entertainment for the river city. But the precinct – home to some of Brisbane’s best fine dining venues including ARIA, Pony and Saké – may shortly look entirely different thanks to a planned $1.4 billion makeover.

The Palaszczuk Government has just approved plans to transform Eagle Street Pier into a premium business and leisure destination. The waterfront precinct will welcome two new towers with opportunities to be used commercially, residentially or as a hotel and retail space, alongside a refurbishment of the heritage-listed (and 115-year-old) Naldham House. 1.5 hectares of public and riverfront open space, an improved Riverwalk section across the neighbouring botanic gardens, and more restaurants and casual eateries have also been promised.

Lord Mayor Graham Quirk is in full support of the project, which is yet to finalised. “While ultimate approval of the proposal rests with the Queensland Government,” he says, “Council has expressed its initial support of this Market-Led Proposal, recognising the many economic, lifestyle and leisure opportunities such a project would bring to our New World City.”

“The ambition of the proposal is to revitalize Brisbane’s premier dining hub and give back the waterfront to the Brisbane community, creating a place that celebrates Brisbane’s sub-tropical climate and delivers a global-standard business address and tourist destination in the heart of the CBD,” says Dexus CEO Darren Steinberg.