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Echo Entertainment's multibillion-dollar development will stretch 10 blocks across the far end of the city.
So this is a good announcement, it is fantastic for Brisbane and I am quite sure the people of Brisbane will embrace the new Queens Wharf development.
Ms Palaszczuk would not go into greater detail on what she meant by the "financial security" comment.
Ms Palaszczuk thanked both proponents for their bid work, adding that "unfortunately" there could be only one winner.
The integrated resort developments were pushed by former premier Campbell Newman and his deputy Jeff Seeney, who wanted projects that would "put Queensland on the map".
The casino licences were offered as the carrot to developers to create signature resorts which would rival not just those found across the east coast, but in Asia.
Ms Palaszczuk said she had no qualms about stepping in as part of the government that took the project forward.
Three thousand jobs will be created during the construction phase, with Ms Palaszczuk saying a further jobs would continue once the project was done.
State Development Minister Anthony Lynham, whose department takes in the casino resorts, said the project would change the face of the river city.
David Edwards, who served as Mr Seeney's director-general and until recently continued in that role with Dr Lynham, will head up the projects for the government.
The unsuccessful bid presented by rival Crown and its Chinese partners included three hotels, a rooftop the size of the Gabba football stadium, public gardens and pools and its own bridge to South Brisbane, complete with waterfall feature.
With an announcement due early , the project hit a timing bump following the change in power at the January election.
Echo, which holds the city's existing casino licence at Treasury Casino, had been widely tipped to be the winning bid, but the Palaszczuk government asked for a few more months in checks, wanting, among other things, to investigate the "possibility" of retaining the George Street Executive Building, which sits in the middle of the planned project.
But the government admitted defeat in June, announcing that 1 William Street, the new Executive Building commissioned by the Newman administration, would house the government and larger public departments, meaning stakeholders were just waiting for the tick off.
Echo committed to moving its headquarters from Sydney to Brisbane if it won its bid and was seen as having more to lose, with its existing Brisbane casino expected to compete with the new one just down the road.
The basement excavation and shoring is expected to continue until late when the site will then be ready for foundations.
In another area of our site, Multiplex has begun work has begun for construction of Waterline Park and the Goodwill Extension area upgrade that will see the transformation of a metres stretch of the Bicentennial Bikeway from the Goodwill Bridge to the area behind 1William Street.
It will also include construction of a metre walkway above the Brisbane River. Waterline Park and the Goodwill Extension area upgrade work is expected to be completed by late Later this year Destination Brisbane Consortium will go to tender for the main integrated resort development.
More information on this process and how you can be involved will be advised through our website and monthly newsletter.
To stay informed about work packages, please visit the ICN website at www. Destination Brisbane Consortium is excited to be building this transformational city changing project for Brisbane and we thank the community for their patience while this work is undertaken.
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In Progress Truck movements underway from Waterline Park. The start of earthworks…. Multiplex will start work on the Foreshore South project this month with a number of activities to occur both on land and in the Brisbane River.