The 2032 Olympics in Brisbane will bring in a wave of infrastructure spending.
The original estimate for the cost of the games was 5 billion dollars. No doubt the real cost will be much higher than this, but a lot of the benefit will be captured in longer term value for Brisbane residents with useful infrastructure, there is a clear focus on this as previous games have learned difficult lessons about this. The basic idea is to improve areas and to have them remain functional as housing or public space after the games have finished.
Estimates for benefits from the games to flow to Queensland have been in the range of $8.1B, which include $4.6B in tourism and $3.5B in social improvements such as health and community benefits.
A few of the notable new sporting builds include
New Sporting & Community developments, capacity and estimated budget:
• Brisbane Arena (15,000) Swimming, Water Polo $450 million
• Brisbane Indoor Sports Centre (12,000) Basketball
• Redland Whitewater Centre (8000) Slalom Canoe $300 million
• Moreton Bay Indoor Sports Centre (7000) Boxing $15.8 million
The Athletes Village at Hamilton will be one of the features:
Presently this site is car parks and old and tired industrial areas beside the Hamilton reach of the Brisbane River.
The development will remain as green and public space with residential towers after the games.
The Gabba (50,000) Athletics, Opening and Closing Ceremonies, this will be perhaps the feature development of the games.
The cost of building the new Gabba redevelopment could cost as much as 2.5B
Two multi-use blocks are planned next to the Brisbane Cricket Ground – which is set to be the centrepiece of the 2032 Olympic Games.
Redland Bay Whitewater Centre.
Moreton Bay Indoor Sports Centre
Brisbane Indoor Sports Centre, this is a large redevelopment and new builds in North Brisbane around the former Albion Park Raceway.
I think the benefit of the 2032 Olympics in branding to Brisbane will be massive.
Talk to most people in the world and they are likely to tell you that Sydney is the capital of Australia, and perhaps they also know about the city of Melbourne, this is where most of the international capital currently flows for Australian real estate, Sydney and Melbourne. Brisbane is invisible on a global stage. This will change after the 2032 Olympics.
