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Construction has begun on what will be one of the tallest towers in South Brisbane – a 145-metre building of cylindrical forms at 10 Cordelia Street.
Work on the apartment complex, which will include about 300 one-, two- and three-bedroom apartments, kicked off on Sunday.
A rooftop pool and gym are also included in the plans, as are quiet spaces for residents, and outdoor gardens.
The development at 10 Cordelia Street in South Brisbane comprises several cylindrical forms. Credit: Kio Investment Management
Digital renders show extensive greenery draping over brickwork on the lower levels.
Parking across five underground floors and in the podium will provide 377 car spaces.
Work is expected to take about 2½ years, with completion likely in early-to-mid 2028.
Digital renders show flora adorning the lower levels of the South Brisbane tower.Credit: Kio Investment Management
The 1822-square-metre site had previously been occupied by medical tech and software company Akunah.
Kio Investment Management, which has developments in Sydney and Melbourne, is behind the project and will retain the building and lease all units itself.
It will be one of several Brisbane build-to-rent developments, which receive incentives through various state and local government schemes.
In 2023, the then-Labor state government announced tax concessions for developers who incorporate affordable housing into build-to-rent projects, including a 50 per cent discount on land tax for up to 20 years, and full exemption from several foreign investment taxes.
Designs for 10 Cordelia Street originally included five penthouses and 20 sub-penthouses, but these were removed in favour of conventional apartments.
Sydney-based architect Woods Bagot designed the building.
While one of the taller towers in South Brisbane, it will be noticeably shorter than the CBD cluster across the river, where four buildings are more than 100 metres higher.
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“The precinct is acknowledged as being uniquely positioned to contribute to the 115,000 new homes that will be required to be built to accommodate Brisbane’s growth to more than 1.5 million people by 2041,” the original assessment report said.
It added that the site was less than 500 metres from the CBD and adjoined Brisbane’s cultural precinct.
As for the design, it said the series of cylindrical forms that made up the tower would provide a “striking counterpoint” to other buildings in the vicinity.
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