Construction of the third and final stage of the Brisbane Quarter precinct will commence next month, reports brisbanedevelopment.com.au.

Developer Shayher Group has chosen global contracting group Multiplex to build the $300 million, 84-storey residential building known as ‘The One’, which is set for completion in late 2021. Multiplex was also chosen to build the other two towers in the complex. The site is prime inner-city riverfront land.

Multiplex Regional Managing Director Graham Cottam says the Brisbane Quarter as a whole is set to be a first class destination for Brisbane.

 “This has been a truly five-star project to be involved with and one which is cementing Brisbane’s position as Australia’s new world city,” said Mr Cottam.

The key inner-city site occupies an entire city block and will soon be home to the 34 storey ‘W Brisbane’ Hotel set to open in a few weeks, and a 42 storey tower known as ‘300 George’ which is scheduled to be completed in 2019.

The 7,892 square metre Brisbane Quarter site fronts Ann Street, Adelaide Street and North Quay is prime inner-city riverfront land and is the former site of the Supreme Court of Queensland.

The total Brisbane Quarter project will cost more than $1 billion. And combined with the closely located Queens Wharf development, investments are set to inject $4 billion into the CBD.