THE Gabba will be fully demolished and rebuilt as part of a $7 billion funding agreement struck between the state and federal governments for the 2032 Brisbane Olympic and Paralympic games, but the federal MP for inner Brisbane blasted the deal for its lack of social and affordable housing.
Prime Minister Anthony Albanese and Premier Annastacia Palaszczuk formally announced the deal which will see the 42,000-capacity Gabba rebuilt into a 50,000-seat state-of-the-art stadium that will also be used for cricket and AFL.
The wider transformation of the Woolloongabba precinct will also see a new 17,000-seat indoor entertainment centre Brisbane Arena, also known as Brisbane Live.
“We know hosting the 2032 Olympic and Paralympic Games is a once-in-a-lifetime opportunity to accelerate the infrastructure and housing we need to support a growing Queensland,” Palaszczuk said.
“The Gabba has hosted sport for more than a century and is home to cricket and AFL most weeks of the year.
“But it’s no secret that Queensland is losing out on major sporting events already – and the tourism, jobs and investment that come with them because The Gabba is not up to scratch.
“It must be upgraded to maintain our competitiveness for international sport and events.”
As part of the agreement, the state government will tip in the entirety of the $2.7 billion required for the Gabba rebuild – it was initially costed at $1 billion – and the federal government will contribute almost $3.5 billion, including $2.5 billion for Brisbane Arena and another $1 billion for new venues and facility upgrades.
“I know as a Sydneysider the difference that a Games can make,” Albanese said.
“Here in Queensland, this will consolidate this great city as a global city, as a global powerhouse.
“But it benefits not just Brisbane. It will benefit the whole state of Queensland but will also benefit our national economy and that’s why the federal government has an interest in this.”
The current Woolloongabba Priority Development Area will be expanded to encompass more of Woolloongabba and the Stanley Street precinct to South Bank, and along with Along with connecting Cross River Rail and the Brisbane Metro, it will deliver a walkable connection to South Bank and Brisbane CBD via Brisbane City Council’s new green bridge.
The historic East Brisbane State School will be closed and its heritage-listed buildings incorporated into the precinct. Options being assessed include relocating the school to new facilities at the underutilised 11-hectare Coorparoo Secondary College site.
“This is in contrast with the current 1.5-hectare EBSS site which is very constrained, bordered by three major roads, has limited access to green space, and no capacity to expand,” said Education Minister Grace Grace.
MP blasts deal over social and affordable housing
In the loose details given at the announcement, the rebuilt Gabba stadium will anchor a “major urban renewal project, delivering thousands of new homes, including social and affordable housing”.
Federal Greens Member for Griffith, Max Chandler-Mather told ABC Radio Brisbane the agreement was a “disgraceful” misuse of government funds.
“They claim the (federal) budget is tight but now, they’ve just announced they’re going to chip in billions on stadiums for a four-week sporting event.
“The scale of the housing crisis right now is so acute and now…they’re going to spend more public money on Olympic stadiums than they’re going to spend on social and affordable housing.”
The global event shapes as an opportunity for Brisbane to develop housing supply ahead of the city facing a shortfall in the coming years. According to PRD analysis, the Olympics are set to deliver $8.1 billion in benefits to the sunshine state, including $4.6 billion in tourism and $3.5 billion in social improvements such as health and community benefits. It will also provide 91,600 jobs.
“Known and current 2032 Brisbane Olympic Games residential supply needs further development when compared to previous Olympics. Now is a golden opportunity to harness the potential of creating a well-informed housing supply legacy that targets a range of demographic needs.
According to Urbis and Q Shelter, large-scale events like the Olympic and Paralympic Games will cause displacement of existing populations without early interventions to prevent rising rental costs and ensure adequate housing supply, as has been seen in varying ways in London, Atlanta, and Rio de Janeiro. Brisbane is heading for a peak shortfall of 5,000 dwellings in 2027-28, according to the National Housing Finance and Investment corporation. There is currently a 16,760 social housing waitlist for south east Queensland.
Brisbane apartments supply hit a nine-year low in 2022, while the 2,300 completions in 2021 was down 79% on the peak of 11,000 apartments in 2016, and is the lowest rate of annual supply since 2013. The short-term future pipeline is expected to drop further.
