Big-ticket developments could soon receive the proverbial red carpet treatment in Townsville, with Council targeting projects that deliver long-term economic, community and legacy benefits.
Councillors this week voted in support of a revamped City Activation and Housing Incentive Policy that introduces a Catalytic Development component targeted at transformational private sector projects.
The incentives available to such projects are open-ended and merit-based, and include infrastructure charge waivers, rate concessions and cash contributions.
Eligible projects will be worth more than $5 million, be developer-led (instead of being undertaken by a State or Commonwealth agency), and be under construction prior to mid-2029.
Under the program, projects receiving funding from other levels of government will be considered for additional Council support if they will generate economic growth, housing or jobs for the city at scale.
Councillors will have the final say on whether a project reaches the "catalytic" threshold, with support considered on a case-by-case basis.
Mayor Nick Dametto said the new policy was the strongest signal to the market to date that Townsville was ready for investment.
"Townsville is seeing an unprecedented degree of investor interest across the board but converting that to cranes in the sky and shovels in the ground is far more challenging in North Queensland than the south east," he said.
"Through this new Catalytic Developments category, we're making it clear to investors that we are open for business in Townsville.
"The message is that if you're an investor and you're bringing forward a well-considered project that will benefit the city, you'll find a Council that's prepared to have a genuine conversation about how to make it happen.
"We want to see more big-ticket projects built in Townsville, and we're prepared to do our bit to grow our city to its full potential."
Townsville-based businessman and developer Shaun McCarthy, who is seeking to build a $550 million waterpark project in the southern reaches of the city, congratulated Council for taking a visionary approach to supporting large-scale investment.
"This is a welcome move on behalf of Council, indicating the city is willing to work with investors who can prove their projects stack up and also offer long-standing and transformational benefits," he said.
"Projects of scale like the Townsville Waterpark, Hotel, and Beach Club development we are working towards don't just happen overnight, they take years of planning, expertise and collaboration across multiple sectors, as well as significant financial commitment and risk.
"The introduction of this new Catalytic Development component appears to recognise that reality, going a long way to give proponents the confidence that there's a proper pathway to get transformative projects off the ground in Townsville."
Under the renewed City Activation and Housing Incentive Policy, Council will continue to offer its Housing, Improving Building Facades and the Townsville City Centre Heritage Adaptive Reuse programs.
The Housing program will be split into 1A – Infill Housing and 1B – New Lot Creation, with infrastructure charge waivers now capped at $100,000 and $50,000 respectively.
The Catalytic Development category significantly expands the scope of projects that are eligible and the support that can be offered.
