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The Victorian government has made the decision not to proceed with hosting the Commonwealth Games in 2026, after crunching the numbers.
The cost of hosting the regional Victorian Commonwealth Games was projected to exceed the estimated economic benefit the games would bring to the state, particularly in regional Victoria, forecasting a cost blowout of $6 billion.
In response, the government has chosen to invest in housing and regional initiatives, ensuring that the regions do not miss out on much-needed support.
To compensate for the decision, the Victorian government said it will deliver a $2 billion package to ensure regional Victoria still receives the anticipated benefits from hosting the games and “even more”.
As part of this plan, a new $1 billion Regional Housing Fund will be introduced to construct over 1,300 new homes across regional Victoria, encompassing both social and affordable housing options.
The specific locations and mix of housing will be determined in consultation with councils, regional partnerships, and local communities.
Premier Daniel Andrews said that providing more housing options in regional Victoria was a priority based on feedback from locals.
The initiative aims to address the critical need for affordable housing in the state and have positive social and economic impacts on regional communities.
Council to Homeless Persons chief executive Deborah Di Natale expressed her support for the social housing commitment, highlighting that it would benefit the entire state facing a housing crisis.
“Building at least 1,300 social and affordable housing properties will have enormous social and economic benefits for regional Victoria,” Ms Di Natale said.
“We can supercharge those gains with a commitment to building at least 6,000 public and community homes every year.”
Minister for Commonwealth Games Legacy, Harriet Shing, assured that despite not hosting the games, the government remains committed to delivering housing, sports infrastructure, and tourism legacy benefits to regional areas without incurring the massive extra cost of hosting the event.
In addition to housing, the $2 billion regional package includes a $150 million allocation towards regional tourism and events funds.
Moreover, there will be a $60 million Regional Community Sport Development Fund to support various projects like aquatic centres, indoor stadiums, lighting upgrades, and walking and cycling paths.
A separate $40 million All Abilities Sport Fund will work to remove barriers to sports participation for people with disabilities through grants, scholarships, and mentoring.
[Related: Victoria Greens calls out Premier Andrews over housing crisis]
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