The proposed legislative change will allow new development opportunities within key precincts such as Hunter Park in Broadmeadow, turning underused land into a vibrant, connected destination that supports sport, entertainment and tourism year-round.
Property Council Hunter and Central Coast Regional Director Nuatali Nelmes said the reform made sense for both the economy and the community.
"This is a sensible, future-focused move that recognises the value of integrating accommodation, entertainment and transport," Ms Nelmes said.
"Unlocking land at Hunter Park will help Newcastle grow as both an entertainment hub and an employment centre - creating new opportunities for local businesses and the visitor economy."
Ms Nelmes said the reform aligns with the Government's target of expanding the state's visitor economy to $91 billion annually by 2035.
"These public assets have an opportunity to deliver even more for their communities. The NSW Government's proposed change reflects the Broadmeadow Place Strategy - a vision shaped through extensive consultation and embraced locally.
"Enabling well-considered, mixed-use development on Venues NSW land will create more welcoming spaces for people to stay, spend and enjoy, which is positive for the economy and for the Hunter," Ms Nelmes said.
"This change will allow the Hunter Park precinct to reach its potential – the next step is ensuring the proposed new Entertainment Centre is delivered," Ms Nelmes said.
"With strong transport links and a growing visitor market, Newcastle is perfectly placed to attract new investment and deliver a destination that thrives beyond game day. It's a great example of the Government working with industry to unlock opportunity for the region."
