There’s a lot of buzz around the 2032 Olympic Games and what venues are being built to accommodate the Games, including where the athletes will be housed. However, not much is being said about the elephant in the room – Brisbane’s housing shortage crisis. What is in the proposed construction pipeline between now and the big Games event to alleviate the housing crisis and potentially leave an Olympic Games social and affordable housing legacy?
2032 Olympic Games – What’s Happening Where?
The 2032 Olympic and Paralympic Games are only nine years away. So, what is being built? According to the International Olympic Committee, approximately 80-90% of the venues needed for the games already exist or will be completed by 2032. Below is a list of the proposed developments funded by the Queensland State Government and the Federal Government to be rebuilt, newly built, and pre-existing mainly across Brisbane, the Gold Coast, and the Sunshine Coast.
2032 Olympic Games – Venues and Projects
- The Gabba – Athletics, Opening and Closing Ceremonies (50,000 capacity)
- Chandler Indoor Sports Centre – Gymnastics (10,000 capacity)
- Ballymore Stadium – Hockey (10,000 capacity)
- Ipswich Stadium – Modern pentathlon (10,000 capacity)
- Brisbane Arena – Swimming, Water Polo, Basketball (15,000 capacity). Located in the Roma Street precinct with works due to begin in 2027 with an estimated completion of 2030 (to become an indoor entertainment centre post-Olympics)
- Brisbane (Breakfast Creek) Indoor Sports Centre – Basketball (12,000)
- Redland Whitewater Centre – Canoe Events (8,000 capacity)
- Moreton Bay Indoor Sports Centre – Boxing (7,000 capacity)
- Suncorp Stadium – Football (52,500 capacity)
- Brisbane Aquatic Centre – Diving, Water Polo (4,300 capacity)
- South Bank Piazza – Basketball (4,500 capacity)
- Anna Meares Velodrome – Cycling, BMX (5,000 capacity)
- Brisbane Showgrounds – Equestrian (15,000 capacity)
- Brisbane International Shooting Centre – Shooting (2,000 capacity)
- Lake Wyaralong – Rowing (14,000 capacity)
- Brisbane Entertainment Centre – Handball (11,000 capacity)
- Royal Queensland Golf Club – Golf (15,000 capacity)
- Queensland Tennis Centre – Tennis (6,000 capacity)
- Royal Queensland Yacht Squadron – Sailing (10,000 capacity)
- Brisbane Convention Centre Table Tennis, Fencing, Taekwondo, Badminton (6,500 capacity)
- South Bank Culture Forecourt – Archery (4,000 capacity)
- Victoria Park – Freestyle BMX, Equestrian (5,000-25,000 capacity)
- Cbus Super Stadium, Gold Coast – Football (27,400 capacity)
- Gold Coast Leisure Centre – Judo, Wrestling (7,500 capacity)
- Coomera Indoor Sports Centre – Volleyball (11,000 capacity)
- Gold Coast Convention Centre – Weightlifting (6,000 capacity)
- Broadbeach Park Stadium – Beach Volleyball (12,000 capacity)
- Broadwater Parklands – Triathlon (5,000 capacity)
- Sunshine Coast Stadium – Football (16,500 capacity)
- Sunshine Coast Indoor Sports Centre – Basketball (6,000 capacity)
- Sunshine Coast Mountain Bike Park – Mountain Biking (10,000 capacity)
- Alexandra Headland – Road Cycling, Race Walking, Kiteboarding, Keelboat Sailing (5,000 capacity)
For a more detailed breakdown of some of the proposed Olympic venues, visit The Urban Developer.
To view the 2032 Olympic Venues Masterplan Video, CLICK HERE.
2032 Olympic Games – Athletes’ Accommodation
The main Athletes Village will house more than 23,000 athletes and team officials and will be based at Northshore Hamilton. Several commercial and residential developments are proposed for international guests.
Robina on the Gold Coast will be the location for a second Athletes Village as part of a new residential development, along with other smaller accommodations situated on the Sunshine Coast, and at Kooralbyn, located near the Lake Wyaralong rowing venue.
2032 Olympic Games – And Housing Crisis
At this stage, the numbers cannot be predicted, but there is no doubt that Brisbane can expect an influx of tourists leading up to and during the Games, inclusive of the athletes, their families, media, associated officials etc. And if benchmarking against the Sydney 2000 Olympic Games is anything to go by, hotels could be at capacity, which will add even more strain to Brisbane’s accommodation crisis. Even when looking at the 2018 Gold Coast Commonwealth Games, many homeless people had little choice but to shift locations and find alternative shelters leading up to and during the event.
It’s envisaged that the main Athletes Village at Northshore Hamilton will be repurposed to address some of the housing crisis in Brisbane. After the Olympic Games, it’s anticipated to become residential living, including aged care, retirement living, social and affordable housing, key worker living, hotels, and build-to-rent accommodation. The Olympic bid outlined the proposed Development Scheme for the Olympic Village precinct to nominate at least 5 per cent of the Priority Development Area (PDA) to be devoted to public, social, and affordable housing.
BUT, Queensland is already in the midst of a housing crisis spurred by increasing construction pricing, supply and labour / skills shortages rendering many projects unviable. The Master Builders Association says apartment starts have fallen to the lowest level in over ten years. Alongside, there is a highly competitive private rental market, and around 31,000 households on the social housing register. It is evident that more planning is needed as interstate migration is higher than forecast, in addition to people not leaving Queensland. Queensland Treasury has predicted that Queensland’s population could reach 6 million people by 2027.
The upcoming 2032 Olympic Games and record spending on health infrastructure over the next ten years will only increase housing demand which is already at capacity.
Incentives to Alleviate the Housing Crisis
The Queensland state government recently announced they would provide tax breaks for developers that invest in affordable housing. Build-to-rent projects are seen as a long-term strategy where legislation incentivises developers to include a proportion of affordable housing within these projects.
As a part of its Sustainable Growth Strategy, Brisbane City Council has introduced changes to allow residential buildings in certain parts of Brisbane (South Brisbane Kurilpa Precinct at this stage) to reach the 274-metre limit as determined by aviation safety regulations. These changes will help meet rental demand in the lead-up to the Brisbane 2032 Olympic Games. As a part of these changes, the council will fast-track build-to-rent developments, along with incentivisation such as a reduction in upfront costs by permitting infrastructure charges to be paid over time.
(Diagram Source: Ernst & Young Australia 2023. Prepared for Property Council of Australia Pty Ltd.)
Earmarked for Indooroopilly is a recent example of a development application for a four-tower, 478-apartment, mixed-use build-to-rent development. For a project rundown and to see the plans, VISIT HERE. The Queensland Government, as a part of its pilot project for build-to-rent, has also approved projects for a combined 1,200 rental apartments in Fortitude Valley, Newstead, and Quay Street Brisbane, comprising of the developers Frasers Property, Mirvac and Cedar Pacific.
So overall, the goal is to fast-track as much build-to-rent construction as possible via incentives leading up to the Games. It is envisaged that hosting the 2023 Brisbane Olympic Games will be a vehicle in itself for residential supply once the Games are over, as evident in past host cities such as Sydney and Tokyo.
To find out more about what build-to-rent is and the most recent projects, visit our recent article HERE.
The Olympic Games will occur between July 23 and August 8, 2032, and the Paralympic Games will be hosted from 24 August to 5 September 2032. The Games are set to deliver over $8.1 billion in benefits to Queensland, and $17.6 billion for Australia as a whole. The catch-22 is our current housing shortage crisis leading up to the Games. As such, there are incentives for developers that embrace the build-to-rent model.
However, will this be enough to address the housing crisis? That is anyone’s guess at this stage, especially when factoring in the increasing construction pricing, supply and labour / skills shortages, and the proposed mega Queensland Health projects.
The good news is on the construction front, as many jobs will be created as more and more people seek alternative rental options that focus on strengthening the social impact of inclusion, affordability, and sustainability over the next ten years. So, if that’s where your interest lies, it’s looking good moving forward, particularly with the newest asset class build-to-rent.
(Sources: Infrastructure Magazine; QLD Government – State Development, Infrastructure, Local Government and Planning; The Urban Developer; ABC News; Austadiums; Brisbane Times; Queensland Treasury; Property Council Australia; Ernst & Young; Master Builders Association; The University of Queensland; The Guardian; Brisbane City Council; PRD; The Brisbane Olympics News; Australian Property Journal)
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