IPSWICH City Properties (ICP) and Leighton Properties continue to work together on the billion-dollar transformation of the city's heart.
The highly anticipated CBD revitalisation master plan was unveiled by ICP 10 days before Christmas.
The project, awarded to Leighton Properties, one of Australia's largest property developers, is expected to attract international and interstate investment.
The project is designed to support the State Government's decentralisation strategy and its ethos is the long-discussed aim of the city's commercial centre embracing the Bremer River.
Its focus is the revitalisation of the commercial heart of Ipswich, with a 55,000 square metre shopping centre, office precinct and inner-city living for 1000 people.
This will be surrounded by riverfront public space including a library and car parking, with the master plan based on sustainable design principles and integrated transport links with public transport and the Bradfield Bridge.
ICP chairman Paul Tully said the company set up by Ipswich City Council to buy the city centre was "working closely with Leightons over this major redevelopment of the Ipswich CBD".
"This will be the largest individual redevelopment project ever undertaken in any provincial city in Queensland," Cr Tully said.
"Federal and state government offices should be decentralised from Brisbane to give a boost to the heart of Ipswich."
Ipswich Mayor Paul Pisasale said he was "really happy with the way we've set up Ipswich City Properties to help with the redevelopment of the CBD".
"It's accelerated a lot of the development processes," Cr Pisasale said. "We're making sure the planning is right; we're committed to the importance of protecting the heritage of the city and the relationship with the river.
"The State Government's commitment to decentralisation is key to this project; the ongoing commitment of Anna Bligh is very important."
He said he was working with Federal MP Shayne Neumann to have a branch of the tax office moved to Ipswich.
Cr Tully said: "A Taxation Office would be a welcome addition to the city and would attract more growth and investment in the CBD."
More Ipswich News: www.QT.com.au