THE reconstruction of Brisbane's RiverWalk and ferry terminals, destroyed during the summer floods, has moved ahead, with the projects receiving advance funding of almost $50 million.
Acting Premier Andrew Fraser and Federal Minister Assisting the Attorney General on Queensland Flood Recovery, Senator Joe Ludwig, announced the approval of $48 million in reconstruction funds for the projects on Thursday.
Mr Fraser said that overall, the State and Commonwealth Governments have allocated up to $145 million to fast-track reconstruction of the Brisbane CityCat and ferry terminals and the Brisbane RiverWalk.
"This advance allocation means the Brisbane City Council can get moving on the necessary planning approvals to get these projects up and running," Mr Fraser said.
Senator Ludwig said the fast-tracked funding will ensure "these iconic symbols of the city are rebuilt as soon as possible."
In the current phase, the RiverWalk project receives $24.7 million while the ferry terminals receive $23 million under the joint State and Federally funded Natural Disaster Relief and Recovery Arrangements (NDRRA) administered by the Queensland Reconstruction Authority.
Brisbane's new $70 million RiverWalk will be a fixed structure and built to withstand a one-in-2000-year flood event. It will also be higher and wider than the original RiverWalk. Construction is expected to commence 2013 for approximately 18 months.