Premier Annastacia Palaszczuk has announced that the state government will progress with plans for the 18,000-seat Brisbane Live precinct by putting the concept to market to gauge interest from investors in the private sector, reports Brisbanedevelopment.com.au.

The original concept for arena was derived in 2007, as part of the $5.4 billion Cross River Rail project and is set to transform the Roma Street railyards with a precinct some say will be comparable to the USA’s LA Live Complex. Roma Street was one of seven sites considered within the business case for the development. 

The new arena would have a retail strip on the Roma Street frontage as well as a function space; ‘Sky Lounge,’ which would operate when events weren’t on. 

The right to build and manage the new precinct is set to be a competition between ASM Global and Live Nation.

Ms Palaszczuk said the project would create 450 jobs per year on construction, increasing to 1,000 for the peak year, and deliver 600 ongoing jobs once the precinct was up and running. 

"We know that by unlocking underutilised land in the heart of the city like Roma Street, we can leverage significant private-sector investment and create jobs," she told the publication. 

Cross River Rail Minister Kate Jones said the Cross River Rail Project as a whole could generate up to 35,000 new jobs and $20 billion worth of new economic development.

Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said the new Roma Street station will be a key transport hub. 

“Built around renewed heritage places, new public spaces, parkland, and potential major entertainment facilities, the location will become one of Brisbane’s key cultural and recreational precincts.

“There will be unique opportunities for urban development, economic stimulation and job creation,” he said. 

For artist impression images and concept video, visit https://brisbanedevelopment.com/brisbane-live-goes-to-market-as-precincts-strategy-is-released/ 

Hannah Schuhmann said this project is a huge win for the CBD and well-positioned apartments such as 212 on Margaret and 26 Felix Street – which are only a 15-20 minute walk from the $2.1 billion proposed complex.