Silverstone approved for rare new Milton apartment tower

Silverstone Developments has secured approval for a rare new apartment development in Milton, with the Brisbane developer given the green light for 192 apartments on one of the suburb's most prominent riverfront sites.

The approval at 299 Coronation Drive comes at a time when new apartment supply in Milton has been few and far between, despite the inner-city suburb sitting just two kilometres from the Brisbane CBD and being one of the city's best connected by train, ferry and active transport.

Silverstone's 30-storey tower will rise from a 2,339 sqm site directly beside the Milton Ferry Terminal, delivering 192 two and three-bedroom apartments alongside ground-floor retail and a significant rooftop wellness offering.

It's been a long road to residential for the Coronation Drive site.

Silverstone acquired the existing four-level office building for $13.3 million in 2022, initially viewing the property as a long-term investment before lodging plans the following year for a 24-level office tower.

The developer ultimately shelved those plans as the post-COVID office market softened and instead turned its attention to Brisbane's strengthening owner-occupier apartment market.

Apartments.com.au first reported the residential pivot in March 2025, when Silverstone lodged plans for 192 apartments in a Woods Bagot-designed tower.

That initial scheme retained many of the architectural principles from the approved commercial building, with Woods Bagot taking cues from the different architectural styles found along Coronation Drive between Toowong and the Brisbane CBD, including the Regatta Hotel, traditional terrace homes and the Queenslander.

Silverstone went back to the drawing board before lodging a revised proposal in March this year, this time bringing Plus Studio on board to reshape the project.

The apartment count remained at 192, however Plus Studio introduced a slim, curved tower designed around the site's unique riverfront position and its connections to the Milton Ferry Terminal, Milton Railway Station and Bicentennial Bikeway.

Connection and sustainability have been central to the new design, which will comprise a mix of two and three-bedroom apartments and ground-floor retail opening to a landscaped public plaza designed to improve pedestrian connectivity around the site.

A significant focus has also been placed on health and wellness.

Resident amenity has been concentrated at the top of the building, where panoramic views across the Brisbane River and city skyline will provide the backdrop to a lap pool and plunge pools, gym, sauna and steam room, wellness facilities and an outdoor residents' lounge.

Dunn Moran Landscape Architects has been engaged to curate the subtropical landscaping throughout the project.

Silverstone Developments Managing Director Troy Daffy said the project reflected the company's continued focus on design-led, community-focused development.

“This development represents an exciting opportunity to redefine riverside living in Milton, blending sustainability, wellness and connection in one of Brisbane’s most dynamic locations,” Daffy said.

The approval represents one of the more significant injections of new apartment supply into Milton in recent years.

Despite its proximity to the CBD, Suncorp Stadium, Park Road and established public transport infrastructure, Milton has seen relatively few major new apartment projects come to market compared with neighbouring inner-Brisbane precincts such as West End, South Brisbane and Toowong.

One of the few is Goldfields' Quartet Milton, which launched to the market earlier this year on Manning Street.

The circa $100 million Quartet is now under construction and will deliver 131 apartments across 18 levels, with Goldfields appointing Binah to build the Rothelowman-designed project.

Between Quartet and Silverstone's 299 Coronation Drive, the two projects will add just over 320 new apartments to a suburb where meaningful new supply has otherwise remained relatively scarce.

Silverstone's approval also comes as the developer continues to grow its residential pipeline across Brisbane.

Its major focus is RiverGreen at Northshore Hamilton, where construction commenced on Stage Three in July. The next stage will deliver 166 apartments across two buildings, while Silverstone has already lodged plans for Stage Four as it continues to build out the riverfront community.

In Ascot, Silverstone's boutique The Windermere development on Racecourse Road has sold out, having been designed predominantly around larger three-bedroom apartments targeted at local owner-occupiers.