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A vast residential tower is planned for Newstead, with a new dining lane linking the building to James Street Market.
Developer Graya says its proposed 35-storey tower at 19 Chester Street – dubbed “The Silo” – will comprise 170 apartments.
A lane with new restaurants and businesses will link the development to nearby Fortitude Street.
The area around James Street has changed dramatically in recent years, with many of the city’s most popular restaurants and venues located in the precinct.
A health and wellness amenity level is planned for the new building, as is one of the country’s biggest residential pools.
Graya says it paid $40 million for the 3016-square-metre block, which is presently occupied by a car park and single-storey building.
It sold for less than half that price, $18.5 million, just five years ago.
The building will take the form of multiple vertical cylinders, not entirely dissimilar to 10 Cordelia Street in South Brisbane.
Bureau Proberts designed the new building, which Graya says “reinterprets the area’s industrial character”.
The developer added in promotional material that it aimed to construct the city’s “best residential building”.
“We have tested the proposal against the way people will live, move through the precinct and use the ground plane,” co-founder and managing director Andrew Gray said in a statement.
“The result is a proposal that works at two levels: as a place to live, and as part of Newstead.”
Artist impressions of the building show Ferraris, Range Rovers, Rolls-Royces and Porsches on surrounding streets.
Graya said it had already lodged a development application with Brisbane City Council, though it did not appear on the official website on Wednesday afternoon.
Plans were filed for a 16-storey apartment building on the block in 2025 but were later abandoned.
Graya has multiple developments nearby, including The Pavilion at 54 James Street in Fortitude Valley.
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