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read moreQueensland Premier Annastacia Palaszczuk has conceded that increasing building costs and material shortages could see the redevelopment of Brisbane’s Gabba for the 2032 Olympics exceed its projected $1 billion price estimate.
The Queensland Premier’s advice that she is comfortable with plans for both the Gabba and the Brisbane Live development after concerns were raised last week about additional construction was needed to allow the venues to be built for the 2032 Olympics.
Speaking at a media conference yesterday Premier Palaszczuk said there would be a business case for the Gabba redevelopment, with the Queensland Government "working through all those issues at the moment".
When asked how estimates that the redevelopment would cost $1 billion had been arrived at, Premier Palaszczuk said it was based on cost estimates at the time, noting “of course now we understand that there's been a lot of increase in … shortages of supply and materials, they're worldwide issues.
Speculation about the cost of the Gabba redevelopment has increased in recent weeks with concerns that the planned rebuilding of the venue to accommodate a capacity of 50,000 will impact the local road network.
Last week, it was reported a proposal to tunnel under the streets had been put forward but that would significantly increase the $1 billion cost of the Gabba redevelopment while a review is also understood to be underway as to whether the Gabba’s current footprint can accommodate a larger stadium and whether redevelopment would the venue occupy the site of the East Brisbane State School.
Queensland Deputy Premier Steven Miles, who is also the Minister Assisting the Premier on Olympics Infrastructure, also advised that funding decisions are made about the planned Brisbane Live arena proposed for the Roma Street railway station.
Minister Miles explained “this process will ensure the Arena is fit for purpose and delivers the best legacy outcomes for Queensland.”
The COVID impacted Tokyo 2020 Olympics cost more then double the original estimates for the event.
Images: Concepts for the redeveloped Gabba. (Credit: Queensland Government).
23rd July 2022 - Swimming Australia begins its 10 year journey to 2032 Olympic and Paralympic Games
21st July 2022 - Brisbane Games Committee names 12 Queenslanders to oversee Olympics legacy
28th June 2022 - Cost for COVID-delayed Tokyo Olympics is double the original estimate
1st June 2022 - Australian Olympic Committee welcomes new Federal Sports Minister
24th May 2022 - International Olympic Committee posts revenues of US$7.6 billion for elongated Olympic cycle
10th April 2022 - Queensland Premier names independent directors to Brisbane Olympics Organising Committee Board
8th April 2022 - Australian Olympic Committee records small profit despite COVID challenges and fall in sponsorship revenue
8th November 2021 - Brisbane Olympics faces sustainability challenge in bid to be first ‘climate-positive’ Games
22nd October 2021 - Costs already on the rise for Brisbane Olympics
8th July 2022 - Cairns’ Barlow Park 2032 Olympic Games upgrade to include broadcast TV lighting
27th April 2022 - Brisbane 2032 OCOG Board prioritise recruiting Chief Executive
21st November 2021 - Brisbane 2032 Olympic legacy factors in Woolloongabba Cross River Rail development
9th August 2021 - Netball Australia aspires for the sport to be included in 2032 Brisbane Olympics
21st July 2021 - Historic achievement as 2032 Olympics secured for Brisbane and South East Queensland
6th July 2022 - MSL Solutions secures Stadiums Queensland POS contract for The Gabba and Suncorp Stadium
23rd February 2022 - Brisbane Lions partners with Fast to streamline purchase processes online and at Gabba Stadium
22nd July 2021 - Rebuilt Gabba and new Brisbane Live arena the key developments for 2032 Olympic Games hosting
20th April 2021 - Successful Brisbane 2032 Olympics bid would prompt Gabba redevelopment as main Games venue
3rd March 2021 - Planned Brisbane Live development could be a 2032 Olympics venue
15th December 2019 - Queensland Government gives go ahead for Brisbane Live entertainment precinct
23rd September 2019 - AEG Ogden’s Harvey Lister expresses frustrations at delays with Brisbane Live precinct
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