Multibillion-dollar development delayed, date for Riverwalk reopening revealed
A “city-shaping” multibillion-dollar development in the heart of Brisbane has been delayed, with the builder citing construction “complexities” and bad weather.
Waterfront Brisbane, perched on Eagle Street just downstream from the City Botanic Gardens, will eventually comprise two new office towers, shops, restaurants and public space.
Construction costs are estimated at $2.5 billion, with completion initially planned by 2027.
An artist’s impression of the Waterfront Brisbane development when complete.Credit: Dexus
Dexus, which is building the project, revealed in its annual report on Wednesday that the date has been pushed back to late 2028.
“[The delays are] following prolonged adverse weather in Brisbane together with complexities with in-ground construction works, which are nearing completion,” the report said.
The company said in its earning results that costs would not change, with fixed-price contracts for much of the work.
Waterfront Brisbane will include two new office towers, shops, restaurants and public space.Credit: Dexus
Alterations to the original plans were lodged with Brisbane City Council in January this year, with changes to the roofline and floor space increased by about 580 square metres.
The updated pavilion facade will feature oval-shaped windows and a distinctive jagged and segmented roofline.
Dexus chief investment officer Ross Du Vernet previously described the project as “city-shaping” for Brisbane.
The construction site has temporarily cut off access to a strip of the Riverwalk along the water, prompting frustration from some pedestrian and cyclist groups.
The construction site has temporarily cut off access to a strip of the Riverwalk along the water, prompting frustration from some pedestrian and cyclist groups. Credit: Dexus
“Dexus ... have really just thumbed their nose at people trying to walk or ride,” group Space for Cycling Brisbane said last year.
But the construction delays would not impact reopening of the closed section, which remained on track for January 2026.
Waterfront Brisbane sits next to the new Kangaroo Point Bridge, with the northern cityside entrance becoming an increasingly busy hub in the CBD.
Brisbane City Council said this week about 4.2 million people have crossed the bridge since its opening in December 2024.
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