The Queensland government has accelerated plans for the athlete village for the 2032 Olympic and Paralympic Games with Planning Minister Steven Miles approving the expansion of the Northshore Hamilton Priority Development Area (PDA), about 6 kilometres north of the CBD.
An additional 1.2 kilometres of waterfront has been added to the development plans and will house the athletes village which will host more than 10,000 athletes and team officials for the Olympic Games and about 5,000 for the Paralympic Games.
Following the games, the village will be converted to provide 1,750 apartments as well as commercial and retail space.
"It will be one of the biggest contributions of Brisbane riverfront parkland since South Bank was established," Mr Miles said.
"This city-shaping project presents an incredible opportunity to showcase Brisbane's iconic waterfront to the world and deliver a long-lasting legacy for the state."
"A new commercial heart will be located along Macarthur Avenue to take advantage of increased foot traffic and maximise the invaluable new riverside parkland."
The village will be constructed on Economic Development Queensland-owned land within the Northshore Hamilton PDA, which was declared in 2008.
The development spans more than 300 hectares, with about 3 kilometres of river frontage and will include upgrades to roads and public venues.
"It's estimated Northshore Hamilton will have over 14,000 dwellings and be home to over 24,000 residents, to help meet south-east Queensland's fast-growing population," Mr Miles said.
The amendments follow public consultation and came into effect on Friday.