16/10/2026
News this week is that the Mayor is meeting with the Premier to try and sort out a $400M gap in funding so the proposed indoor arena in Southport can be built.
It's quite staggering that this is where we're at. There are two major stuff-ups which puts the Mayor, and the City, in this position.
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The original $ figure for the arena was $480 million. In less than 2yrs, it's been blown out of the water. It's now double that. Underestimations on costs is a great way to get people on board. But, it sets you up for trouble in the long-run. As we now see!
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Council went down the Public Private Partnership model. But, history is littered with examples of where this doesn't work. The financials would struggle to work at $480 million. It's impossible now.
But, the indoor arena is supposed to be an Olympic venue. Along with an upgrade of the Hockey Centre in Labrador (which is costing Gold Coast ratepayers $10 million directly from municipal coffers), they are the only venues to not be funded by the State and Federal Governments.
Let that sink in!
Every other venue is being built using State the Federal Government money. No other Council is chucking in money. But, Gold Coast City Council, said they could sort it out themselves.
When money was available (not anymore), they didn't ask for it.
Instead, we're now going cap in hand asking for the State Government to hand over land so it can be sold to make up the shortfall (they've already transferred ownership of Carey Park to Council). I guess we'll see if the Mayor is successful with this approach (and where $400 million worth of land is located and what might potentially be lost by having it sold).