Call to arrest slump in CBD
A THIRTY per cent drop in new dwelling approvals has sparked calls for renewed investment in Townsville’s CBD.
It comes after a number of Townsville councillors have backflipped on the stadium and convention centre in the CBD and now want the State Government to redirect its $ 100 million election commitment to an arts precinct. The State Government has warned the move puts the entire funding commitment at risk.
In the first three months of 2015 there were 207 dwelling approvals, compared with 293 for the same period last year.
Architect Ian Pellant, who lives in South Townsville close to the proposed stadium and convention centre site, said he wanted to see Townsville City Council move on with developing the area as soon as possible.
“I moved to Townsville in late 2009 due to the collapse of the building industry in Cairns,” Mr Pellant said. “I bought into a new apartment in South Townsville in the anticipation that the precinct would progress.
“The Townsville construction industry is currently panicking. Historically, building picks up markedly in February. This year they did not meet recent year averages. March has been frightening low – much lower than any March period for the past decade.”
Master Builders North Queensland regional manager Melissa Coulter said the construction industry was waiting for news on the big projects promised for the North, including the stadium and convention centre.
“Anything like that ( the stadium and convention centre) will show Townsville is progressing and it will create confidence and a buzz,” she said.
Economist Warwick Powell cautioned against over- investment in the CBD, saying property development would pick up when the rest of the economy improved.
“The problem with Townsville’s CBD is longstanding ( and has) a lot to do with the growth of suburban supermarket centres.”
Prior to the recent state election. Labor promised $ 100 million for a stadium – estimated to cost up to $ 210 million – but a number of councillors have called for the money to be spent on a music hall and cultural centre.
Townsville City Council’s planning department has finished a report canvassing the councillors’ views, which will be voted on in today’s full council meeting.