Construction is under way for twin towers looking directly over the Botanic Gardens and Brisbane CBD, with updated plans lodged this month to make both even bigger.
The larger of the two buildings would be among the tallest in the city when it’s completed at the end of this decade.
Both are being built by Meriton on the block at 204 Alice Street, which also fronts Margaret Street. They will have more than 770 units between them.
“Delivering a development of this magnitude will not be an easy feat,” a statement from founder Harry Triguboff this week said.
“High-water levels during basement excavation, combined with deep rock challenges, are a constant reminder that these types of builds are quite specialised and unique.”
Soaring 79 stories, the tower on the Botanic Gardens side will include 391 luxury apartments for sale and a further 142 build-to-rent units.
Updated plans were lodged this month to push its roof 63 centimetres higher to 274.13 metres – putting it just centimetres off the city height limit enforced to maintain aircraft safety.
Depending on the metric, it would be taller than the nearby Brisbane Skytower if the new plans were approved. The Meriton would be slightly bigger from base to roof, but the top of the Skytower would be higher above sea level.
The other building will be 73 stories tall – up from 70 in the earlier approved designs – and house a Meriton Suites Hotel and 243 units.
A mix of one-, two-, three- and four-bedroom apartments are planned, with retail space on the ground floor and restaurants on level one.
A total of 975 parking spaces would be built. A childcare centre had also been planned, but will be replaced with a restaurant.
Other changes in the updated plans published in March include minor exterior and layout alterations.
Prices for the apartments are likely to be announced before the official launch, expected in the middle of this year.
The first residents are on track to move into the Alice Street building in mid-2029, according to a Meriton spokesperson.
Both buildings would be completed by November, 2030.
At least half a dozen workers were on the site on Thursday afternoon, with building materials laid out across gravel.
The construction area was plastered in marketing material showing project name “The Oscar”. Triguboff’s middle name is Oskar.
A billionaire clash previously emerged over the project, with the Royal on the Park hotel – owned by the Sultan of Brunai’s company Sejahtera One Pty Ltd – raising multiple concerns about early design plans.
The development is set to cost just over $1 billion, with the land bought for about $150 million and construction estimated at $800 million.
About $100 million more is attributed to government fees and charges.
If the updated plans were approved and nothing bigger was built before completion, four of the seven tallest buildings in Brisbane would wear the Meriton badge.
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