The building will be home to 2,600 people, but there is one major difference: It will be located in a housing estate.
The Sunny House, an exclusive luxury community on the edge of the Brisbane CBD, was a former home of a prominent family in the 1920s.
It is said to have hosted prominent figures in the city, including John F Kennedy, Malcolm X, and Winston Churchill.
A series of new housing developments have been built since the Sunny House closed, including the former home and the new development, which will be built in the same location.
The site of the Sunnyhouse has been earmarked for development, but the project will not be completed until the property is in a better condition.
The development will include 1,300 residential units and 1,400 commercial spaces.
The development will have the capacity to house up to 1,500 people, with a total of 4,600 square metres of space.
It will be designed by a renowned architecture firm in the United States, The Duchamp Group, and the developer is expected to break ground in early 2018.
The site is a former coal mine site.
It has been reported that the development is currently in the planning stages, with some residents worried about the potential for further development in the area.