FOUR five and six star hotels, a new casino, 50 restaurants and bars, and open space for 26,000 people are promised as part of massive plans to redevelop Brisbane set to create 8000 jobs.
The heritage-listed Treasury Casino will also be transformed into a high-class department store as part of Destination Brisbane's winning bid to redevelop Brisbane's Queens Wharf precinct.
The consortium, made up of Echo Entertainment Group, Far East Consortium and Chow Tai Fook Enterprises, was announced as the bid winner on Monday afternoon by Premier Annastacia Palaszczuk.
Echo plans to shift its existing casino from the Treasury building to its new towers.
James Packer's Crown Resorts was the other contender and would have involved a second casino for Brisbane.
Ms Palaszczuk suggested Echo's approach to public space was a key factor in the victory.
"One of the signature efforts was the large amount of public space that families will be able to enjoy, plus the probity checks, as well as the consortium (being) able to demonstrate to government that they were ready to proceed," she said.
Echo's plans include:
- The Arc building
- A feature Sky Deck, with restaurants and bars fully accessible to the public
- Five new premium hotel brands
- Fifty restaurants and bars
- Dozens of attractions, including a water and light show, playing several times each night in the new River Arena
- A new lyric theatre at QPAC
- Riverfront moonlight cinema
- 12 football fields of public event space
State Development Minister Dr Anthony Lynham said: "It'll do what South Bank did for Brisbane 30 years ago.''
Destination Brisbane previously estimated their precinct would generate at least 8,000 new jobs for Queensland.
Work is not expected to start until 2017, after ministerial offices and public servants are moved into the new executive building under construction at 1 William Street.
The redevelopment area is state-owned land between the Brisbane River and George Street, and between Alice and Queen Streets.
Update your news preferences and get the latest news delivered to your inbox.