The Queensland government announced on Monday that no apartment buildings will be constructed at Brisbane’s Queen’s Wharf precinct before a casino is developed first.
Officials for the Australian state adopted a formal development scheme for the Queen’s Wharf Brisbane Priority Development Area. The amount of A$3 billion is expected to be spent on the ambitious project.
Last summer, The Star Entertainment Group, formerly known as Echo Entertainment, won a license for the redevelopment of the Brisbane central district and the construction and operation of a gambling venue at the precinct. The Australian casino operator will be working together with Hong Kong-based Chow Tai Fook and the Far East Group. The Star is currently holding a license for Brisbane’s Treasury Casino. The facility will be relocated to the Queen’s Wharf precinct and will see its gambling options significantly expanded.
The Queensland government told local media that under a contractual agreement between The Star, its Asian partners, and state officials, the casino should be constructed prior to any apartment buildings.
According to recent reports, the developing consortium has suggested that it would like to build the apartments first and that The Star was willing to “go slow,” once it had managed to win the license over its rival bidder Crown Resorts. However, those reports have not been confirmed by any of the involved parties.
Commenting on the today’s announcement, Jackie Trad, Deputy Premier and Minister for Infrastructure, Local Government, and Planning, said that every single development application within the precinct will now be reviewed carefully, with the final assessment being based on the new development scheme.
According to the official, the multi-billion-dollar development will completely “transform and rejuvenate” an area that has been under-utilized. Thus, significant foreign investment will be drawn to Brisbane and numerous jobs will be created for residents of the state.
Construction work on the integrated casino resort is slated to start in 2017 and it is expected to be fully operational by 2022. Apart from the residential buildings and the gambling venue, the complex will also feature numerous attractions such as a sky deck, a ballroom, a moonlight cinema, etc. It will be intended for wealthy customers from China and the Asia-Pacific region as a whole.
