$2 billion precinct set for Roma St
A NEW $2 billion entertainment precinct will be built over the Roma St railyards as part of Brisbane’s Cross River Rail initiative.
The Brisbane Live proposal, including a world-class 17,000seat indoor arena, restaurants, bars and cinemas, will be planned by the Cross River Rail Delivery Authority set up to develop the $5.4 billion train tunnel and underground stations network.
The move, to be announced by Labor today, virtually guarantees the city-changing entertainment precinct will go ahead because an expanded version – dubbed Brisbane Entertainment and Education Precinct – has already been promised by the LNP, even if it scraps Cross River Rail.
Harvey Lister, chairman of Brisbane-based international venues operator AEG Ogden, which is proposing Brisbane Live, said the bipartisan support was great news.
“It’s very encouraging that the Government appears to have recognised the potential for Brisbane Live to be an activator that could eventually see the whole Roma St precinct become an exciting part of the state’s capital city,” he said.
The CRR Delivery Authori- ty will partner with Mr Lister to ensure the project goes ahead, and Deputy Premier Jackie Trad said a new masterplan would be drawn up to revitalise the whole area.
“We have been working very closely with Harvey Lister to make sure we create the best entertainment and integrated transport precinct in Australia,” Ms Trad said.
Promoter Dean Lonergan said Brisbane Live was a world class proposal that would take the city to “the next level’’ when it came to big events.
It is seen as the final piece in an entertainment triangle, with the new $3 billion Queen’s Wharf casino-resort and the South Bank cultural precinct, to create international-standard nightlife in Brisbane.
Labor has not detailed funding but financial analysis, commissioned by AEG Ogden, found the project could be built with a profit by generating “value-capture’’ income from selling air rights to other commercial, residential and education developers.
SUPPORT: AEG Ogden chairman Harvey Lister.