Works on Richardson Park will begin later this month after the tenders were awarded to local contractors at the July council meeting.
The new green space fronting Elgin Boulevard will be the reinstatement of the Richardson name to the city centre and is fully funded by the federal and state governments and delivered by the council.
Cr John Watson said he was pleased the project was now at the build stage.
"The development of thisÂ space will be a jewel in the crown for the city and, all going well, is due to be completed in time for the Christmas holidays," he said.
"It will be a great asset for our city for all ages to enjoy and use."
Cr Watson acknowledged the Richardson family and their contribution to the city, droving stock from Queensland to the saleyards which were formerly on a site in the city centre which was later known as Richardson Park
Richardson Park will join Junction Square and The Promenade as open spaces inÂ Junction Place which have brought high visitation numbers to theÂ railway precinct along with the food and beverage offerings.
The park will further add to the amenity where families are able to gather and enjoy and include green space, trees, seating and an interactive water feature.
Replacing the current parking, new car parking will be available behind the rail building and off the new Aurora Way.
The project team will continue to pursue cost savings to enhance the landscape outcomes with the design still to be finalised.
Contractors will be on site towards the end of the month with a completion date in December.