The site of West End’s new Waters Edge apartment complex remains a hive of activity as developer Pradella continues with construction on the two-stage project.

The $260 million residential complex will comprise two towers – Reach and Drift- hosting a range of one, two and three-bedroom apartments, including a selection of 32 absolute riverfront residences.

Waters Edge is the first of three projects planned for the three-hectare Riverside Drive site, where a cardboard factory once operated.

Pradella marketing and sales director Ross Higgins said both investors and owner-occupiers had purchased into stage one of the complex with more than $55 million recorded in sales.

“Waters Edge provides luxury residential living and, with future development on the site offering a mixture of retail and commercial uses, buyers will be securing the complete urban lifestyle,” Mr Higgins said.

The apartment complex sits on the Brisbane River close to the eclectic café and shopping hubs of Boundary and Vulture streets.

Two cranes have now moved onto the site, with the first building expected to be complete by the end of the year. When complete, Waters Edge will deliver 234 apartments in a range of configurations, priced from $500,000.

The absolute riverfront apartments, with three bedrooms, two bathrooms and a separate multi-purpose room and study, are priced from $1.795 million.

Facilities will include 400sq m of water-scaped grounds and a range of resident amenities, including lagoon wading pools, an outdoor kitchen, barbecue shelters and an infinity edge lap pool.

The second stage of the project is expected to be released to the market in the coming months.