Developer Pradella is defying market trends by starting work on its $260 million Waters Edge apartment project at West End.

Creating around 1500 jobs, Pradella’s sales and marketing director Ross Higgins said the company’s strong track record, combined with a high quality, value-for-money riverfront product, had enabled them to negotiate funding and get the project off the ground.

“Pradella has been a strong performer for 50 years and has endured many booms and recessions and what we have learned is that if you get the fundamentals right, there will always be opportunity,” Mr Higgins said.

“Over 50 per cent of the stage one apartments have sold off-the-plan and we expect to sell the remaining stock very quickly with Waters Edge being one of the last opportunities to buy new apartments on the Brisbane River at West End.

“We are very excited to be bringing this flagship project to life, especially at a time when construction is so crucial to our industry and local economy,” Mr Higgins said Water Edge appealed to a largely unfulfilled market, with many people recognizing the lifestyle attributes of the apartments and others seeking to gain an investment foothold within an area undergoing vast urban renewal, just minutes from the CBD.

He said West End remained a highly sought-after address and high quality apartments on the river in the thriving cultural hub were hard to come by, regardless of the economic cycle.

“We have collaborated with an award-winning design team to ensure each apartment at Waters Edge capitalizes on the spectacular river views and provides a sense of outdoor living through clever design and interior styling,” he said.

Once completed, Waters Edge will comprise two, eight-storey buildings, with the first building Reach now selling a mixture of one, two and three-bedroom apartment configurations priced from $550,000.

Reach also incorporates 16 luxurious absolute riverfront apartments, with three bedrooms, two bathrooms and a separate multi-purpose room and study priced from $ 1.795 million.