The Brisbane City Council has plans to buy and demolish four houses that are beside already council-owned land in the north Brisbane suburb of Windsor in order to build a new sports facility.
The properties are located in a flood-prone area close to Breakfast Creek and will be purchased using dividends from the City of Brisbane Investment Corporation which will lead to the acquisition of a total of 16,000-square-metres of land.
Lord Mayor Adrian Schrinner says the CBIC dividends have seen a return of $20 million in the past year and that money would be put towards new ‘green’ projects in the city and purchasing more bushland for conservation.