The Australian Government, Queensland Government and Townsville City Council signed Australia's first City Deal for Townsville on 9 December 2016.

The City Deal is a 15-year commitment between the three levels of government to work together to deliver transformative outcomes for Townsville and its residents. The Deal was developed in collaboration with the Townsville community and private sector.

A Memorandum of Understanding was agreed on 10 November 2016 between the Australian and Queensland governments, committing to work together on City Deals, with Townsville the the first step. 

Prime Minister Malcolm Turnbull said that with its relative proximity to Asia and important natural endowments, Townsville is central to the development of North Queensland.

"The Coalition will invest $100 million to achieve the city’s vision for a modern stadium, entertainment venue and headquarters for the 2015 NRL premiers, the North Queensland Cowboys," he said. 

"As part of our long-term plan for the renewal of Townsville, the Turnbull Government will make this the first city in Australia to be recognised in a ‘City Deal’ under our Smart Cities Plan.

"City Deals are intended to make our cities more liveable through more integrated planning, better collaboration between governments and, ultimately, improved delivery of the infrastructure that families and businesses need." 

Plans include new public spaces and amenities including pedestrian bridges and riverside bike and walking pathways linking to the CBD.

Townsville’s Mayor Jenny Hill hailed the Townsville City Deal as “a momentous 15-year commitment to bring to life a shared vision for Townsville”.

"Our combined government investments of $240 million – with $140 million from the Queensland Government and $100 million from the Australian Government - and the Council’s contribution of prime waterfront land, will see construction on the new Stadium commencing in 2017."