12/21/2012 2:35 PM
The Queensland Government has confirmed that Cbus Property will build its AU$653 million (US$681 million) skyscraper in Brisbane's CBD. Construction will start early next year on the 43-story One William Street project.
"The One William Street project is the first step in what we see will be a major redevelopment of a significant part of the CBD of Brisbane," Deputy Premier Jeff Seeney told reporters in Brisbane. "It won't cost taxpayers a cent.”
According to Mr. Seeney, taxpayers will actually save money because the government won't have to pay to maintain older buildings.
"We believe that it will be saving AU$60 million a year by the time we complete the relocation of the public service into that building," Mr. Seeney told local media.
Watch a video flythrough of the project at the Brisbane Times.