Pallas Group company Fortis has been greenlit for its luxury Kangaroo Point tower development.
The Brisbane City Council has approved its 15-storey apartment tower, dubbed River House, after filing plans earlier this year.
Construction at the 1196sq m site at 44 O’Connell Street is due to begin in the second quarter of next year.
Designed by Plus Architecture with interiors by Mim Design, it will deliver 14 three-bedroom homes.
“Wellness facilities” including an infinity pool, sauna, steam room and gardens are also a part of the development.
River House marks Fortis’s first foray into Queensland for the developer best known for its projects in the Eastern Sydney suburbs.
The tower is aimed at downsizers and young families, and signifies that “the top-end of the market in Brisbane remains strong”, the developer said.
Housing in South-East Queensland is struggling to match demand with supply—estimates this year suggested that the region requires 900,000 new homes by 2046, with the Brisbane City Council area expected to provide 209,000 of those.
