Campus funding released
The first instalment of a promised $50m for a new CQUniversity Cairns city campus has at last been released, two years after being allocated, but increases in building costs now mean millions more will be needed in order to complete the project.
Labor pledged the cash in the lead-up to the 2022 federal election in a project spruiked as a game-changing development to double the institution’s student intake from 2000 to 4000 and pump a projected $500m into the wider Far North community. However, 30 months on and the block at the corner of Grafton and Hartley streets earmarked for the campus remains vacant.
CQUni Cairns region associate vice chancellor Jodie Duignan-George on Thursday attributed the delay to a passthrough agreement that required a state government Treasury sign off.
“So that added a little bit more complexity, to getting the funding agreements up and off the ground,” she said.
“So finally, we have some action on that and no one’s more pleased than me.
“I can actually advise that we’ve got the first payment through on Monday.
“(But) that pass-through arrangement between the federal government and the state government is what really slowed the process of this down.”
The new build is expected to create 330 construction jobs and allow thousands of students to study in the city centre, which is a significant increase on enrolments at the current Abbott St campus.
The project will now invite the submission of tenders to design the new building.
While the project was on pause, construction costs have skyrocketed and what was achievable for $50m in 2022 is no longer possible in 2024.
“We know that it’s gone up, possibly even doubled,” Ms Duignan-George said.
“But rather than speculate, the first part of our project is getting the detailed design, from the detailed design we will know exactly what the cost escalation has been.
“We will be seeking additional funding, so I don’t think that’s a surprise to anyone.
“We see this as an opportunity to create our campus of the future.
“So we’re really excited actually about the opportunities that we can have to deliver a really interesting university campus for Cairns.”
It’s understood additional funding to the value of about $38m will be needed to complete new campus buildings, though any new cash allocation is not expected to be included in the May 14 federal budget.