Establish a Development Corporation to negotiate acquisition and development of land to lead the revitalisation of Townsville. The Development Corporation will encourage property and infrastructure investment, ensure ongoing engagement with industry and private sectors to attract investment and help create an attractive urban environment, supported by high quality open spaces.
Progress to date
At its meeting on 27 June 2017, Townsville City Council approved the creation of a Development Corporation. The enterprise body has been created to generate new projects and investment and unlock the potential of prime council owned land in the Townsville Priority Development Area and other strategic areas to stimulate investment, construction and jobs.
Q2 2017 — Established Terms of Reference for the Development Corporation and its board, including membership.
Q1 2018 — Expression of Interest issued for Board members.
Next steps and milestones
Development Corporation to be formed and steer property and infrastructure investment towards revitalisation of a range of sites within the CBD and Waterfront PDA through ongoing engagement with private sector.
Q1 2018 — Formulation of a pipeline of potential development projects that the Development Corporation could pursue in conjunction with the private sector.
Q2 2018 — Formal establishment of the Development Corporation and its Board once initial projects have been committed by Council.
Led by Townsville City Council in consultation with the Queensland Government.