Construction of a colossal new riverfront hub with hundreds of apartments, a hotel and public parks will begin on a flood-prone strip of Brisbane – but one unusual feature has been scrapped from plans.
The $1.5 billion “Teneriffe Banks” development will be built on 17,000 square metres of formerly industrial land at the corner of Skyring Terrace and Commercial Road, looking out towards Bulimba.
Five towers with 212 homes, Brisbane’s first Kimpton Hotel, shops, restaurants, bars and pools are planned.
An artist’s impression of the $1.5 billion Teneriffe Banks development.Credit: Kokoda Property Group
A 220-metre river walk extension and public parks will also be built.
But despite marketing material used to sell apartments including images of a large marina, no plans for that feature have been lodged with council or the state government.
Developer Kokoda Property Group announced this week that Sydney-based Versatile Construction would build the project, with work beginning this month. The first stage is expected to be finished in 2028.
Early artist’s impressions show a “skybridge” linking two taller towers together, but Kokoda confirmed this week that the feature had been removed during a redesign.
The land was previously owned by Riverside Coal Transport Company Pty Ltd, with Riverside Industrial Sands operating a sand storage and processing business.
