Brisbane will soon join the ranks of London and Los Angeles with bipartisan support for a full $2 billion arena-centred entertainment precinct now, for the most part, guaranteed.

Labor announced on Sunday that Brisbane Live would be delivered by the already established Cross River Rail Development Authority in partnership with Brisbane-based AEG Ogden and would largely be funded by the private sector.

The Madison Square Garden-style 17,000 seat entertainment arena will be built on top of the Roma Street railway tracks and have similarities to AEG’s other Entertainment Precincts like LA Live in Los Angeles and the O2 in London.

Along with the main $400 million entertainment arena, attractions that are also planned include outdoor amphitheaters, cinemas, restaurants, bars, hotels, and residences.

Read more into the AEG proposal here.

Brisbane Live advances to next stage.

The LNP has also endorsed Brisbane Live and promised to fast-track it, however, opposition leader Tim Nicols has so far not clarified whether an LNP government would scrap Cross River Rail for the third time which has caused some uncertainty for local industry and investor confidence.

The Labor plan proposes that Brisbane Live and Cross River Rail happen concurrently along with the Brisbane Metro creating a transport mega hub which would link all of South East Queensland with the new CBD entertainment precinct.

Together #CrossRiverRail and #BrisbaneMetro will create ‘turn-up-and-go’ public transport services for all of SEQ pic.twitter.com/m9ETDZdXNm — CrossRiverRail (@CrossRiverRail) September 22, 2017

Harvey Lister, chairman of AEG Ogden told the Courier Mail that the bipartisan support is great news.

“It’s very encouraging that the Government appears to have recognised the potential for Brisbane Live to be an activator that could eventually see the whole Roma Street precinct become an exciting part of the state’s capital city,” he said.

Deputy Premier Jackie Trad said that the Labor government was committed to creating a world-class city through visionary, forward-thinking development and a modern, integrated mass transit system.

It is understood that a new master plan is being drawn up in order to maximise the synergy and linkages of Cross River Rail and Brisbane Metro with the broader precinct.

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“The Palaszczuk Labor Government’s decision to fully fund the $5.4 billion Cross River Rail project creates further momentum for Brisbane Live because the new underground Roma Street station will enable a whole precinct of redevelopment and revitalisation”.

“We have been working very closely with Harvey Lister to make sure we create the best entertainment and integrated transport precinct in Australia,” Ms Trad said.

AEG has released new conceptual renderings showing a screen covered Arena facade, which is a supersized version of AEG’s T-Mobile Arena in Las Vegas.

The screen would be programmable depending on the event, sponsors or scheduled Brisbane Live entertainment.