A $35 million agreement between the Queensland Government, Townsville City Council and a local developer has been finalised to support the restoration of Townsville’s historic North Rail Yards.
The project will see heritage buildings restored and the decontamination of the 145-year-old precinct, paving the way for future high-density housing opportunities, public spaces and commercial development in the heart of Townsville.
Established in the 1880s, the North Rail Yards served as a Queensland Rail maintenance depot before closing in 1990, abandoned becoming a derelict eyesore for locals. The 4.5-hectare site is located within the Townsville Waterfront Priority Development Area and adjacent to the Queensland Country Bank Stadium.
Queensland Treasurer, David Janetzki said the project that would help transform the North Queensland city and support its future growth.
“We are delivering more Queenslanders a place to call home and a better lifestyle through a stronger economy after Labor’s decade of decline,” Treasurer Janetzki said.
“With Townsville’s population set to grow by at least 40,000 people in the next 15 years, vibrant housing and commercial precincts like North Rail Yards are critical.
“Our $35 million investment addresses the most significant financial hurdle of the project to cover remediation and heritage stabilisation works, making the site ‘development-ready’.”
Townsville Mayor, Nick Dametto said the North Rail Yards had been part of the city’s fabric since the early 1880s and it was important to protect that history while servicing the needs of a growing region.
“The rail yards were one of the first projects I visited after becoming mayor,” he said.
“Council recognised the potential of this vacant site and worked to secure funding for what will be a gateway to our city centre.
“This is a rare opportunity to convert a dilapidated site into a residential and commercial hub that honours our past and embraces our future.”
Brad Webb, developer and CEO of BM Webb group – which will lead the project – said the project would bring pride in Townsville.
“The Webb Group has been investing in Townsville for more than 47 years and we are proud to keep reinvesting locally in projects that strengthen the city’s future while respecting its history,” Mr Webb said.
“There is a vast amount of contaminated material that must be carefully removed and replaced, and the historic rail buildings must be stabilised and restored.
“We appreciate the cooperation of both State and local government and ask the community to bear with us during the works.”
