The redevelopment of the State Government-owned Parklands site into an office, retail and residential precinct could create up to 6380 jobs and an estimated $550 million a year, Member for Southport, Peter Lawlor announced this week.
Mr Lawlor said it was estimated the development of the 29 hectare site as a transit oriented development would inject half a billion dollars a year into the Southport economy, generate employment and provide a range of housing options.
It is expected the Parklands site will be linked with a light rail system as part of the Gold Coast Health and Knowledge precinct development. The site would also feature greenspace, playgrounds and other community facilities.
Mr Lawlor said the site would support the adjoining Gold Coast Health and Knowledge Centre and generate "reasonably priced" housing close to the Southport CBD. The decision to relocate the existing facilities from the State owned Parklands site was announced on 22 August 2007.
The site has hosted the Gold Coast Show for over 20 years with work underway to select an alternative site, with Carrara the favoured option.
Mr Lawlor said if the Commonwealth Games bid was successful, the site could also play host to the athlete's ecoVillage - which would later become part of the TOD. He said a successful Gold Coast Commonwealth Games bid could generate up to 30,000 jobs and televised internationally to over 1.5 billion viewers.
The timeline for the project depends on the outcome of the Commonwealth Games bid, which is to be lodged in May 2011, with a decision expected in November 2011.
Transit Oriented Developments (TODs) are currently underway in Milton and Yeerongpilly in Brisbane and consist of mixed-use development in close proximity to public transport services.