Proposal to Acquire Eagle Farm Racecourse for Housing Development
The Greens have presented a bold plan to Brisbane City Council, suggesting the compulsory acquisition of the Eagle Farm racecourse for the construction of social and affordable housing. Despite the Brisbane Racing Club’s skepticism about the council’s authority to proceed with such a project, the Greens have forged ahead with their policy announcement in anticipation of the upcoming local government election on March 16.
The Brisbane Racing Club has vehemently declared that the Eagle Farm racecourse is not up for sale, countering the Greens’ push to reclaim the land for the development of publicly owned housing. As part of their campaign leading up to the council election, the Greens have pledged a substantial $40 million investment to secure the racecourse if they secure control of Brisbane City Council.
Under their proposal, the Greens envision the construction of 4,000 council-owned residences on the site, with half of them designated for social housing to accommodate individuals on the state government’s housing waiting list. The remaining half of the properties would be earmarked as affordable housing units, available for rent at a rate 30 percent below the market value.
Jonathan Sriranganathan, the Greens’ candidate for lord mayor, refrained from specifying the exact cost of the housing project, emphasizing the need for negotiations between the council and the state government to secure the necessary funding. The acquisition of the Eagle Farm racecourse for housing development represents a key initiative in the Greens’ platform for the upcoming council election.
**Greens Candidate Proposes Acquisition of Eagle Farm Racecourse for Affordable Housing**
Greens’ mayoral candidate, Jonathan Sriranganathan, has unveiled a bold plan in anticipation of the upcoming March 16 election. Emphasizing the urgent need to tackle the housing crisis, Sriranganathan highlighted the importance of expanding public housing options within the city. He expressed the vision of integrating more housing units, green spaces, and community amenities into various locations across the city, with the Eagle Farm racecourse emerging as a prime candidate for redevelopment.
According to Sriranganathan, the proposed affordable housing units at the racecourse could generate rental income for the council, aiding in offsetting construction expenses. In addition to housing, the Greens aim to transform the site into a multifaceted space featuring parklands, sports fields, native forests, and educational facilities.
While the party initially intends to engage in negotiations for the acquisition of the site, they are prepared to resort to compulsory acquisition if deemed necessary. Sriranganathan estimated the value of the 159-year-old racecourse at $35 million, considering its current development prospects and land zoning regulations.
Contrary to the proposal, Tony Partridge asserted that the Eagle Farm racecourse is not up for sale, emphasizing a different perspective on the future of the site.
‘Eagle Farm racecourse acquisition is not available for purchase’
The Stance of Labor and LNP on the Acquisition of Eagle Farm Racecourse
LNP’s Lord Mayor Adrian Schrinner expressed his support for maintaining the Eagle Farm racecourse’s current location. He criticized the Greens’ proposal, referring to it as an “unfunded thought bubble.”
Estimating the cost of acquiring the site, Schrinner suggested that it could exceed $400 million.
Tracey Price, Labor’s Lord Mayoral candidate, acknowledged the need for more housing in Brisbane. However, she raised concerns about the feasibility of the Greens’ plan.
Tracey Price does not endorse the Greens’ suggestion regarding the Eagle Farm racecourse acquisition. According to her statement on ABC Radio Brisbane by Jack McKay, she expressed skepticism about the proposed $40 million price tag, considering it to be undervalued. She also highlighted that the Greens presently represent one of the 26 wards in the Brisbane City Council.
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