The Brisbane suburb of Newstead has experienced a recent surge of high-rise development, with the latest being a new 25-story apartment tower set to be approved by Brisbane City Council.

This news follows the approval of the Mirvac development Unison, with its two 21-story towers passing through the Council in late June 2014.

The new 263-unit development by Tom Dooley Developments, dubbed the Skyring Apartments, will sit next to the existing Gasworks Plaza shopping center and behind Unison, with access off Festival Place.

The tower will have 309 parking spaces and retail on the ground floor which connects to the existing shopping center.

Lord Mayor Graham Quirk said in the past year, Brisbane City Council has approved 10 new towers, which will see 1,400 units built in coming years.

Mirvac¡¯s Unison has so far appealed to locals, with 61 percent of buyers already living within three kilometers of the development.

Unison¡¯s one-bedroom apartments start at AUS $375,000 (US $347,000).

Skyring Apartments rentals start from AUS $415,000 (US $384,000) and are expected to be finished by late 2016.

For more on this story, go to Courier Mail.