Ready, set, go: The race to the Olympics has officially begun
In some industries, nine years might seem like a lifetime. But in the property world, less than a decade will go in the blink of an eye.
Brisbane 2032 Olympics and Paralympics Games is inching closer every day, with government bodies, businesses and investors scrambling to consolidate projects in time to reap the benefits.
For those who are yet to start the lengthy development process of securing a site, finalising a design and getting plan approvals – it’s time to light the proverbial fire to speed things up.
As a large-scale example, the state government announced its $2.7 billion complete rebuild of the Gabba stadium on Brisbane’s southside.
The colossal project, from start to finish, is expected to take 7 years with 3 years of design, planning and land acquisition, then construction starting in 2026 and wrapping up just in time for the Games in 2030, according to the Queensland Government.
Smaller projects without government pull might take even longer.
For instance, a midsized shopping centre or village could take:
12 to 18 months for design, planning approval and leasing commitments and;
A further 18 months to two years for building approval and construction.
Alternatively, a unit project with around 59 units could take:
9 to 15 months for design and planning commitments and;
15 to 20 months for building approval and construction.
And that’s only if the site has already been acquired. In some cases, it could take a year or two to secure a site, bringing the total project timeline to five and a half years in particular instances.
So, with the walls of the Olympics starting to close in on the state, there’s no time to waste.
Whether it’s kicking off a new project or pushing forward with existing work, developers need a high level of expertise and experience in their corner to avoid wasting time on unnecessary mistakes and missteps.
And as the first point of call when things start to go awry, a quality project manager can go a long way in ensuring the job runs smoothly, meets deadlines and brings in as much economic benefit from the Games as possible.