BRISBANE City Council last week announced it has approved a twin-tower development that will include one 90-storey tower in Margaret Street built to the CBD's maximum allowable height of 274 metres and containing more than 1,100 residential apartments.
Lord Mayor Graham Quirk said the tower could become the city's equal tallest with an 81-storey residential tower approved for the former law courts site in George Street that is being developed by the Shayher Group.
The maximum height for buildings in the CBD is 274 metres as determined by the Federal Government due to the prescribed airspace associated with the Brisbane Airport and its runway alignments.
Cr Quirk said the $1 billion twin-tower project also comprises a 131 metre high, 42 storey tower at 111 Mary Street that will include 316 hotel rooms and a further 95 apartments. The ground floor levels of the buildings are expected to include retail, restaurant and bar tenancies.
"This project is expected to generate 800 construction jobs and a further 650 local jobs once complete which will provide a significant benefit for locals and the Brisbane economy," he said.
"Across the CBD there are already a number of new developments underway which are contributing to the evolution of our city as an economic and commercial hub and these towers will add to this.
"Once constructed, the project will deliver much-needed modern long and short-term accommodation facilities in one of the most sought after locations in Brisbane and help address the shortage of hotel rooms in the CBD."
Cr Quirk said the 90-storey tower at 222 Margaret Street would feature 192 serviced apartments for residential use or short-term accommodation, plus 368 one and two bedroom low-rise apartments, 335 one and two bedroom mid-rise apartments and 238 one, two and three bedroom high-rise apartments.
The project is expected to be constructed in three stages, while stage four will deliver the 111 Mary Street tower comprising 316 hotel rooms and 95 one, two and three bedroom apartments.
The twin-tower approval supersedes a 2011 approval for a 90 storey hotel and residential building and a 34 storey commercial building on the site.
Photo: Artist's impression of 222 Margaret Street, Brisbane / Billbergia.