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Brisbane Racing Membership has insisted its Eagle Farm racecourse will not be on the market amid a push from the Greens to compulsorily resume the land to make means for publicly owned housing.
Of their newest pitch to voters forward of the March 16 council election, the Greens have unveiled a $40 million dedication to amass the racecourse in the event that they win energy at Brisbane Metropolis Council.
They’ve proposed 4,000 council-owned properties be constructed on the positioning, with half put aside as social housing for these on the state authorities’s housing register.
The Greens need the remaining half to be reasonably priced homes that will be rented out at 30 per cent under market worth.
Greens lord mayoral candidate Jonathan Sriranganathan wouldn’t put a set determine on how a lot it will value to construct the housing, saying the council would want to barter with the state for funds.
“The Greens’ proposal is about recognising that we’d like extra public housing to assist tackle the housing disaster,” Mr Sriranganathan stated.
“We’re wanting across the metropolis for websites the place extra housing and inexperienced area and group amenities might be included, and this [the racecourse] looks like a very apparent selection.”
Mr Sriranganathan stated the council would generate rental income from the proposed reasonably priced housing, which might enable it to assist repay the development prices.
The Greens additionally need the positioning to characteristic parklands and sports activities fields, native forests and public faculty amenities.
The social gathering says it will search to barter to amass the positioning within the first occasion however would compulsorily resume it if vital.
Mr Sriranganathan claimed the 159-year-old racecourse was value $35 million primarily based on its present improvement potential and the zoning of the land.
‘It is not on the market’
Brisbane Racing Membership chief government Tony Partridge disputed {that a} council would have the facility to renew the Eagle Farm racecourse for a housing mission.
“Native politicians merely haven’t got the facility to amass this land for housing or a function you’ll suppose is a state authorities function,” he stated.
“We benefit from the assist of each main political events at a state degree, and we all know it merely cannot occur.”
Mr Partridge stated the positioning was not on the market and would by no means be up on the market, describing it because the “golden goose” of the state’s racing trade that employs 15,000 individuals.
“In wagering turnover, it [the site] turns over $1 billion a 12 months,” he stated.
“We’ve got a payroll of $20 million a 12 months. That is an unlimited financial contribution.
“I am not going to place a quantity on it [the value of the site], as a result of it is not on the market.”
Labor and LNP important of Greens proposal
LNP Lord Mayor Adrian Schrinner stated he supported the racecourse staying the place it was, as he labelled the Greens’ proposal an “unfunded thought bubble”.
He additionally believes the value tag of buying the positioning could be upwards of $400 million.
Labor’s Lord Mayoral candidate Tracey Worth stated Brisbane wanted extra housing however forged doubt on the Greens’ plan.
“I am unsure although how compulsorily buying Eagle Farm for what looks like an underestimated price ticket of $40 million is the reply,” she stated.
The Greens presently maintain one of many 26 wards at Brisbane Metropolis Council.
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