Three glass towers resembling champagne flutes have been proposed for the Toowong riverbank on the site of the abandoned ABC studios.

According to a statement from developer Sunland, the towers in the Grace on Coronation project – ranging from 22 to 25 storeys - would collectively include 486 apartments and eight riverfront villas.

An artist's impression of Sunland's proposed $420 million Grace on Coronation development.

Sunland's proposal asks for 635 car parks, with about half of the 1.5 hectare site set aside for landscaped parklands.

The land was sold to the Sunland Group in 2013 for $20 million after being abandoned in 2006 after a cancer cluster scare.