Developed by local building and investment company Sarcon, stage two at Lime Living follows the successful sell-out of stage one.
Construction is expected to be completed in the first quarter of 2015, with completion of the second stage to follow soon after.
The five level building features four apartments per floor with high spec schedule of finishes and 2.6 metre ceilings.
The sixteen apartments in the latest stage will follow the two bedroom and two bathroom floorplan designs offered in the initial release, with prices starting at $423,000.
According to Andrew Scriven, Residential Director at Colliers International, Lime Living will ease the unit dwelling shortage in Brisbane's Cannon Hill area.
“At present apartments make up only 3.2 per cent of the total dwellings in Cannon Hill, and with a shortage of quality apartments in the area and a high demand for rentals, local and interstate investors are very active right now.
“Lime Living represents the best value new product in the Brisbane inner ring," said Mr Scriven.
“Undersupply of this type of residential offering in Brisbane’s inner east and the great value proposition has specifically appealed to the first home buyers and local investors,” Mr Scriven said.
Once complete, Lime Living will comprise 95 apartments.