Townsville-based property development company Reef House Investment Group (RHIG) has been named as the preferred proponent to build a multi-million-dollar waterfront development on Flinders St.

The development will be built on the site of the old Great Barrier Reef Marine Park Authority (GBRMPA) offices, between Reef HQ and the Museum of Tropical Queensland in Townsville.

Port of Townsville chief executive officer Ranee Crosby said the development would stimulate the potential for a world-leading marine science, research, business education and tourism hub for Townsville with a focus on the Great Barrier Reef.

RHIG director Paul Spina said he was excited by the opportunity of delivering an architecturally designed, iconic marine and cultural precinct.

“This will not only create local jobs, but more importantly will showcase marine science, research, culture, business, education and tourism with a focus on the Great Barrier Reef,’’ he said.

RHIG is a consortium involving local developer PDS QLD and investment group Wilbow Group.

The Port of Townsville sought competitive bids for the redevelopment of the site through an open market Expression of Interest and Request for Proposal.