The Brisbane City Deal will be funded in a split between the Commonwealth, which will contribute $667 million to a $1.8 billion package, and state and local governments.
The city’s Cross River Rail will also connect to the Brisbane Metro, a transport development that Palaszczuk said was “absolutely necessary” for the growing population of southeastern Queensland.
“It will create a more livable region, a more connected region, a region with more jobs,” said Brisbane Mayor Adrian Schrinner.
A centerpiece in the pipeline of projects will be the new flagship Woolloongabba Brisbane Metro station, which will give Olympic fans access to the stadium and act as a major hub between the South East Busway and Cross River Rail.
The Gabba station would be “hugely important” for commuters well beyond the Olympics, Ms Palaszczuk said.
In other large-scale transportation upgrades, a new $190.5 million green bridge will connect Kangaroo Point to the CBD, and $41 million has been committed to upgrade the North Stradbroke Island ferry terminal.
Tens of millions of dollars will be invested in roads on the Brisbane Valley Highway and new housing in Toowoomba.
An indigenous cultural center will also be built.
Accommodation back at Gold Coast
Earlier, Ms Palaszczuk confirmed that the Gold Coast will host The Logies on June 19, after a two-year hiatus due to the coronavirus pandemic.
The 62nd TV Week Lodging will be held at the Gold Coast Convention and Exhibition Centre.