Proposed by Crown Limited and the Schiavello Group, the $1.75 billion skyscraper would have reached 323.6 metres (1,062 feet) in height, and comprised a six–star hotel of 388 rooms, in conjunction with 708 residential apartments, over 90 levels.

[5][6] Over the next decade, the nightclub maintained popularity but also notoriety, having been the scene of violence and brawls; this resulted in the club's patron limit cut down from 2,200, to 1,500.

The $275 million development, designed by Bates Smart, would comprise 592 residential apartments and 566 car parking spaces.

In April 2012, then-Minister for Planning, Matthew Guy, approved the skyscraper project; had it been constructed, it would have been the second–tallest building in Melbourne, behind the Eureka Tower, which stands at 297 metres (974 feet) in height.

[10] Plans were later resubmitted to the State Government as to accommodate 626 apartments, a 400–room five–star hotel, a sky lounge, as well as a footbridge across Queensbridge Street joining the development to Crown casino.

[23] A condition of the skyscraper's approval stipulated that $100 million of the developers' would be allocated towards a community benefits package, which would see upgrades to Queensbridge Square and the Sandridge Bridge.

The Square would have seen landscaping and two new cafes, where as the former railway bridge would have undergone a $15 million redevelopment, that would have turned it into the likes of the High Line park, in Manhattan, New York.

[30][31] However, due to a dramatically slowing residential apartment market, as well as an inability to secure financing for the massive project, construction on the tower was unable to commence prior to the expiration of its planning permit, with the site's use and future now unknown.

Additionally, One Queensbridge would have become the tallest building in Australia, surpassing the Gold Coast's Q1, which stands 322.5 metres (1,058 feet) in height to its spire.