After several years of deconstruction and major groundworks behind hoarding, Waterfront Brisbane, the $2.5 billion redevelopment of the former Eagle Street Pier precinct, has moved into a new phase, with vertical construction now underway.
Read: New Vision for Waterfront Pavilion, A Key Element of Waterfront Brisbane
Vertical construction on the North Tower is now underway, according to the project’s official Instagram. A jump form and additional tower crane are to be installed in the coming months to allow the core structure to continue its ascent.
Basement excavation is also set to commence alongside the tower’s rise. The project’s LinkedIn page described the construction methodology as “intelligent and efficient,” and noted that 2026 is “a defining year as this city-shaping precinct continues to take form.”
What Waterfront Brisbane Will Include
The redeveloped precinct, now operating under the name Waterfront Brisbane, will comprise two new office towers, a riverfront retail precinct, and upgraded public spaces. Key public infrastructure improvements include a widened Riverwalk, an upgraded river jetty, increased mooring for river taxis, and a new CityCat terminal.
The Riverwalk, now 15 metres wider than its previous iteration, is already open to the public. The retail and dining offering is intended to include casual cafes and convenience retail alongside existing dining options, with the project positioning the precinct as an everyday destination rather than one reserved for special occasions, according to The Urban List.
A building within the precinct, Naldham House, opened in 2024 and now houses three venues: Naldham House Brasserie and Terrace, Club Felix, and The Fifty Six.
Read: Mass Closure at Eagle St Pier As Waterfront Brisbane Redevelopment Looms
Timeline
Full completion of the project is targeted for 2028, when the Riverwalk retail pavilions, North Tower and Market Hall are projected to open.
Published 23-May-2026
