The council confirmed that negotiations with the owner of the industrial business on the site was under way.
A similar proposal was mooted by the state government in 2012 and involved a mix of public and commercial use along the riverbank, including an entertainment, retail and dining precinct and parkland.
The IOC Future Host Commission report says the state government will provide the funding to remediate the industrial land.
Brisbane is already undergoing rapid changes with $20-billion worth of major development planned or under construction as part of a committed $49.5-billion transport infrastructure pipeline.
Major development projects include the $5.4-billion Cross River Rail, $3.6-billion Queen’s Wharf casino and residences and the $1-billion Brisbane Airport third terminal.
The proposed $1-billion overhaul of the Gabba stadium, home to Queensland sport including cricket and AFL for 126 years, is also earmarked to be the epicentre of Brisbane’s Olympic activity. The upgrade would increase capacity to around 50,000 people.
It would also include a new pedestrian plaza, making the Games more accessible to people with disabilities and the elderly, linking the redesigned stadium to the Cross River Rail station, which is currently under construction.
As well, the Hamilton Northshore priority development area is being touted as the preferred location for the Brisbane Olympic Village.
The village will host more than 10,000 athletes and team officials for the Olympic Games and more than 5000 for the Paralympics.
State development minister Steven Miles said the Games would “do for Northshore Hamilton what Expo ‘88 did for South Bank”.
“Village construction will crystalise the area’s long-term plan and rejuvenate the existing industrial land,” Miles said.
“It will boost an already popular precinct—home to landmarks such as Portside, Eat Street Markets, and Alcyone Hotel, and some of Brisbane’s best waterfront living.”
After the Games, the village will be converted to a diverse residential offering, including aged care, retirement living, social and affordable housing, key worker, hotel, build-to-rent and market accommodation.
Northshore is also set to be the home of a proposed biomedical facility for Vaxxas to manufacture its world-leading, needle-free vaccines, which could be used for Covid-19.
Article Source: www.theurbandeveloper.com