The Queensland Investment Corporation has been given the go-ahead for its landmark $750-million, 40-storey office tower in the Albert Street Cross River Rail precinct.
Economic Development Queensland has approved the over-station development above the Cross River Rail project in the priority development area within the Brisbane CBD.
The decision paves the way for construction of the 45,000sq m Architectus and Henning-Larsen-designed mixed-use commercial building on a 2500sq m site at 101 Albert Street in the Brisbane CBD.
The Albert Street development will be the first of four above-ground developments linked to the $5.4-billion Cross River Rail project—a key transport link being built in advance of the 2032 Brisbane Olympic Games.
The tower will include 31 storeys dedicated to prime office, as well as a 4000sq m of public open space, with retail and dining across the “vertical village”. Two basement levels will sit below a five-storey podium.
The structure will rise slightly more than 190m, next to and slightly above the new Albert Street Cross River Rail Station.
An engineering report lodged with the development application says the building will adjoin a cavern station—a mined arched structure—that runs under Albert Street. There are duct and escape passages below the cavern that link back to the main station structure.
The cross-river rail project is a new 10.2km rail line that includes 5.9km of twin tunnels under the Brisbane River and the central business district. It includes four new underground stations at Boggo Road, Woolloongabba, Albert Street and Roma Street.
The project will also deliver a new above-ground station at Exhibition [Bowen Hills] and a rebuild of seven stations between Dutton Park and Salisbury. Three new stations will be built on the Gold Coast, as well as two new train stabling facilities while a a world-class signalling system will be installed.
At its peak, the Cross River Rail is expected to create 7700 construction jobs.
When completed, the new rail precinct is expected to service more than 67,000 commuters each weekday by 2036.
The Albert Street Cross River Rail precinct is slated for completion in late 2027.
