WIN proposal unfeasible
The NSW State Government has ensured that WIN Stadium won't gain a redeveloped western grandstand at any time in the near future.
The financial viability of a $100 million proposal for the redevelopment of the western grandstand was questioned by State Cabinet and three major issues ensured that the proposal didn't receive the green light.
While the Wollongong Sportsground Trust plans to continue to work closely with the NSW State Government and Wollongong City Council in considering future development options of its site, the project's future has been thrown into disarray due to the following:
- The proposal sacrificed too much of the number two training ground, which is an area that needs to be retained as green space.
- Cabinet requires a larger payment for the development land than the $20 million offered by the proposal.
- The proposal didn’t include a hotel component, which a 2003 feasibility study considered critical to the overall viability of the site.
The discarded proposal was put forward by Incoll/IFC Capital Ltd, who were the only developer who were interested in submitting a plan after a nine month Request For Proposal (RFP).
Incoll/IFC Capital Ltd will look to submit another proposal when the State Government decides to issue another RFP. However, the State Government is unlikely to issue this in the short term.
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