The Queensland Government today announced it has terminated the proposed ASF development on the Gold Coast Spit and will move forward with a community-led master plan.
The $3 billion integrated resort development was planned for the southern end of the Spit and would have included five hotels, waterfront piazza, theatres, retail precincts and entertainment.
According to ASF Consortium, the integrated resort would have created 4,100 construction-based jobs and 9,100 operational jobs, injecting around $710 million per annum into the local Gold Coast economy and attracting 2.1 million additional visitor nights to the region.
Despite the development only occupying 3% of land at the Spit, Premier Annastacia Palaszczuk said the decision was based on ensuring the best long term solution for the Gold Coast.
“Like many Queenslanders, I have enjoyed visiting the Spit for decades,” Ms Palaszczuk said.
“We need to ensure that character is preserved for future generations.
“The Spit offers great opportunities for job creation through tourism, entertainment and recreation.
“What the Spit really needs now is a master plan to revitalise it and increase its benefit to the Gold Coast as a community asset.”
“To be clear, this is not a decision that rules out a future Integrated Resort Development on the Gold Coast.”
Deputy Premier and Minister for Infrastructure and Planning Jackie Trad said the master plan process would ensure the best outcomes for the community.
“The masterplan that we’re committing to deliver today ensures a future for the Spit which is in accordance with Gold Coast Council’s planning scheme, including the three-storey height limit,” Ms Trad said.
“It helps get the balance right between protecting environmental and community values and allowing appropriate commercial development.”
It is understood that a new casino licence would remain for the Gold Coast, however it would not be built on the Spit.
It is expected the master plan will take 18 months to complete. It will be undertaken in collaboration with Gold Coast City Council and the Gold Coast Waterways Authority.