When a bold vision to create something special is supported by funding and expertly executed, game-changing projects completely elevate a community to a new level in a variety of ways.
Such projects do more than provide essential services.
In this Part 2 of 2 research report, Propertyology has ranked the 1st to 7th game-changing projects from the past.
1 – MELBOURNE, VIC
The Melbourne Cricket Ground (MCG) was built in 1853, but the big game-changer was the major redevelopment in 1950’s, in the lead up to hosting the 1956 Olympic Games. Easily one of the biggest and best stadiums in the world, the MCG has played host to numerous major global events including the 1992 Cricket World Cup, 2006 Commonwealth Games, 2015 Cricket World Cup and international rugby union tests. The event marketing and broadcasting associated with hosting major events is arguably the best form of promotion for the broader city of Melbourne. During the 2024 AFL season, an all-time record 3 million people attended AFL games at the MCG. Other major domestic events include NRL State of Origin, Boxing Day test cricket, the iconic ANZAC Day Collingwood vs Melbourne match, and various concerts. The MCG stadium makes a direct contribution of more than $1 billion to the economy annually. Significantly more annual revenue is generated through local and visitor patronage of bars, restaurants, hotels and general retail trade. In addition to the MCG itself, other world class facilities have been developed within the precinct over the last 30-years. They include the Australian Sports Museum, Olympic Park, AAMI Park, Rod Laver Arena and Margaret Court Arena. Indirectly, the MCG precinct’s annual contribution to Melbourne’s economy would be $10’s billions.
The MCG is a fantastic template to demonstrate to other cities the powerful, year-after-year, widespread benefits that communities can enjoy from investing heavily in a major integrated entertainment precinct with a world-class stadium as the centrepiece.
There is no more effective way to connect a community with a common purpose.
Other benefits include consumer confidence (positive energy), producing role models for the youth, providing a platform to communicate important community messages, encouraging general health and fitness, providing an outlet for a stress release (mental health), becoming a major revenue generator for both the local economy in a general sense and for the funding of future infrastructure needs.
2 – PORT HEDLAND, WA
The discovery of large iron ore deposits in inland Pilbara in 1960 led to the development of the Port of Port Hedland. The infrastructure investment became the game-changer which drove consistent mineral exploration, increased mining production and continuous expansion of the port (which now boasts 15-births). By 2008, Port Hedland’s median house price of $550,000 was officially the highest in Australia (a staggering 18 percent more than Sydney’s $465,000). Today, Port Hedland is home to one of the largest bulk export ports in the world, hosting more than 3,000 shipping vessels per year. The $100+ billion in exports in 2022/23 (93 percent from iron ore) represented 4 percent of the national economy, an amount which was very similar to Sydney’s annual economic contribution. Port Hedland also contributed $14 billion in federal taxes and $11.5 billion in WA taxes. According to ACIL Allen, the iron ore supply chain in the Pilbara region now supports 1 in every 9 jobs in the state of WA. That’s an enormous achievement by a relatively small population of 16,660 (Australia’s 134th largest township).
3 – SYDNEY, NSW
This now famous, high-energy economic zone was originally an industrial port and railway corridor. Throughout the 1930s and 1940s, it was an impoverished part of Sydney’s CBD that carried the tag ‘The Hungry Mile’ because it was a place that masses of unemployed blue-collar workers hung out. Darling Harbour was still a railway goods yard and freight centre during the 1970’s. By the mid 1980’s, it had become largely derelict. The NSW state government then came up with a vision of transforming this industrial eyesore into a large urban precinct with numerous attractions, jobs and accommodation options. When Sydney hosted the 2000 Olympic Games, Darling Harbour had become a vibrant urban mecca consisting of a modern Sydney Convention Centre, Star Casino, multiple museums, theatres, food markets, countless restaurants and bars and other assorted attractions. Subsequent major urban development of the adjacent Barangaroo area includes a massive office precinct, a suite of global Rich Listers, Wall Street-style corporate traders, 40,000m2 international exhibition centre, luxury hotels, a new Crown Towers, numerous high-end restaurants and retail shops.
4 – HOBART, TAS
Originally founded in 2001, a significantly redeveloped Museum of New and Old Art officially opened in January 2011. The creation of quirky multi-millionaire, David Walsh, MONA is the largest museum and art gallery in the southern hemisphere. It is a somewhat controversial ‘adult Disneyland’. The reward for taking a risk on creating a truly unique attraction has been approximately 400,000 visitors to MONA each year (65 percent of which do not live in Hobart). For perspective, during the year directly prior to MONA opening, the total volume of people who visited Greater Hobart was 700,000. 5-years later, visitor volumes to Hobart had surpassed 1 million and the local economy and confidence was vastly different. The ‘MONA Effect’ became such a real thing that Lonely Planet ranked Hobart as one of the Top 10 cities in the world to visit, and MONA was the main attraction. MONA now employs 400+ people and contributes an estimated $200 million to the local economy annually. Facilities at this artistic ‘adventure playground’ include funky bars, exquisite restaurants, casual dining options and function rooms. The venue also hosts the very popular annual art and music festivals, Mona Foma and Dark Mofo. This game-changing project is a shining success story for developing a bold and unique attraction which is supported by A-grade hospitality facilities.
5 – HAMILTON ISLAND, QLD
Tourism in the Whitsundays first started to evolve during the 1970’s, largely through yachting. In 1975, entrepreneur Keith Williams stumbled across the undeveloped Hamilton Island, had a vision for its potential and swiftly purchased the island. He promptly developed a commercial airport, a harbour and opened the first stage of the island resort to the public in 1982. From its evolution, the popularity and scale of Hamilton Island is such that it now generates annual revenue of more than $1 billion, employs more than 1,000 staff and accommodates up to 5,000 visitors per night. Critical to this game-changer is the airport infrastructure. With direct flights from Sydney, Melbourne and Brisbane, the airport services 500,000 passengers per year. Renowned winemaker, Robert Oatley, purchased the island off Williams in 2003 and continues to invest heavily in new amenities. Facility enhancements include a championship golf course, conference facilities, restaurants, retail shops, and new resorts. The year-round trade caters for conferences, weddings, assorted Great Barrier Reef experiences, golf trips and family holidays. The island now has approximately 1,800 permanent residents.
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6 – BYRON, NSW
The region’s airport expansion is one of the best examples of how enhanced access via transport infrastructure can be a game-changer. The airport first opened in 1986 and immediately produced significant economic development benefits for the broader Northern Rivers region of NSW. Subsequent airport upgrades combined with a major marketing campaign which included renaming the airport ‘Ballina Byron Gateway Airport’ in 2005 triggered a sharp spike in patronage. The raised profile and economic growth were reflected in Byron’s median house price which went from $123,000 in 1995 (Australia’s 23rd most expensive) to more than tripling over the following 10-years to $465,000 (the nation’s 2nd highest). Byron today has a population of just 37,000 people and is Australia’s 74th largest township. But it bats well above its weight as the 16th busiest airport (more than 600,000 passengers per year) and the highest median house price in Australia ($1.55 million).
7 – DUBBO, NSW
With more than 300,000 visitors every year, Dubbo’s Taronga Western Plains Zoo is one of the most popular attractions in all of Australia. It is one of the biggest employers of this major regional city and it injects millions of dollars into the economy every year. The vision to develop a former army training camp into one of the world’s biggest and best open plain zoos was an enormous game-changer for Dubbo. When this unique tourism attraction first opened in 1977, Dubbo’s population was fewer than 24,000 and a standard house was worth $20,000. Nearly 5-decades later, Dubbo is a vibrant city with A-grade amenities and one of the most diverse economies in Australia. It is now home to 57,000 people and has a median house price of $540,000. Continuous investment into Taronga Western Plains Zoo includes a current expansion of 55-hectares and $30 million injection to develop eco cabins, a conference centre, restaurants, pool, playgrounds, bars and a giant billabong.
While genuine game-changing projects are few and far between, there are several projects across Australia that are currently either under construction or in the planning stages and are of considerable interest to Propertyology’s buyer’s agents.
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Project number 8 to 14 of Australia’s Biggest Game Changers is listed here.
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