The New South Wales government has amended legislation to allow visitor and residential accommodation on Venues NSW land, a move hailed as a step forward for sporting and entertainment precincts including Broadmeadow's Hunter Park.
Minister for Sport, Jobs and Tourism Steve Kamper said the change would help address the state's need for 40,000 hotel rooms over the next decade to meet visitor economy targets, while also providing housing. 'What better way of realising our targets than by providing new hotel and residential offerings on the surplus lands of our favourite sport and entertainment venues,' he said.
The Property Council of Australia described the reform as smart and practical. Regional director Nuatali Nelmes said unlocking land at Hunter Park would help Newcastle grow as an entertainment hub and employment centre, creating opportunities for local businesses and the visitor economy.
Business Hunter CEO Bob Hawes noted that Sydney's Olympic Park demonstrated the popularity of residential development near stadiums and venues. 'Supercharging accommodation and hospitality development around these big venues will drive economic activity and hopefully spur further investment,' he said.
The government stated that a final business case for Hunter Park has been completed, but without the amendment the land would have remained locked up. Venues NSW operates over $4 billion in community assets, including McDonald Jones Stadium and Newcastle Entertainment Centre.
