Queensland is set to see its largest urban renewal project in history, with the RNA Showgrounds Regeneration Project set to start this week.
After seven years of planning, QLD premier Anna Bligh officially launched the $2.9 billion project in Brisbane last week.
"This is one of Brisbane's landmark historic precincts but after more than 70 years it's desperately in need of a facelift," Ms Bligh said.
"This transformation will revitalise the area reflecting the modern, cosmopolitan Brisbane while at the same time protecting an important part of our history.”
The 15-year regeneration project represents the largest brownfield development of its kind in Australia and includes 416,000m2 of new residential, commercial and retail buildings.
Lend Lease will construct the revitalised Industrial Pavilion and other RNA facilities as well as develop 5.5 hectares of land into future residential, commercial and retail space.
RNA Chief Executive Jonathan Tunny said the regeneration of the RNA Showgrounds represented an historic milestone for Brisbane and was a once in a lifetime project.
"This is an important project for the state as it safeguards the legacy of the 22 hectare site, the home of the beloved Royal Queensland Show (Ekka), while also transforming the grounds into a lifestyle and cultural hub for the community to access all year round,'' he said.