Developer Michael Buxton says Etihad Stadium should be torn down and new one built at E-Gate

A TOP developer wants to bulldoze Etihad Stadium for a new sports arena at the Docklands, claiming the much maligned venue is a ‘waste of money’ in its current location. Here’s where they want it instead.

ETIHAD Stadium should be bulldozed and a new sports arena built at a nearby urban renewal site, says a top Melbourne developer.

Michael Buxton, whose firm MAB Corporation developed much of Docklands, said Etihad’s location was a waste of money.

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Developer Michael Buxton of MAB Corporation.

“The cost of doing it may be prohibitive but it's a matter of the particular land at Etihad Stadium being more valuable than as a football stadium,” he said.

“Congestion is always a problem, so maybe moving it somewhere else makes it a bit easier.”

Mr Buxton said Etihad, which will be renamed Marvel Stadium from September 1, should be located at the E-Gate urban renewal precinct on the corner of Footscray Rd and Dudley St in North Melbourne.

“E-Gate’s a fantastic opportunity, so sell Etihad and move the lot,” he said.

St Kilda runs out at Etihad. Developer Michael Buxton says the entire stadium should be knocked down. Picture: George Salpigtidis

The AFL plans a huge overhaul of Etihad.

While civic leaders like former lord mayor Robert Doyle have previously called for Etihad’s demolition, the state government has approved a $225 million makeover of the stadium precinct by the AFL.

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Mr Buxton’s firm has several apartment projects at NewQuay in Docklands, and he is annoyed with the constant rubbishing of the waterfront suburb as a soulless place.

“There are a lot people living down there, it’s a beautiful harbourside city now, and when you look back on the 1980s and 1990s what it was then and what it is today, it’s stunning,” he said.

Former premier Steve Bracks flanked by Andrew Buxton (left) and Michael Buxton at the opening of Docklands’ NewQuay precinct in 2002.

Mr Buxton and his business partner and brother Andrew, who are reportedly worth about $679 million, also do projects on the city fringe like Merrifield business park near Donnybrook.

They come from a family that started in the Melbourne property business in the 1850s.

Just released is a new book on the family by Peter Yule, The Buxtons 150 Years of Developing Melbourne.

Mr Buxon said that a big difference with Melbourne’s early development was that much more provision was made for parks and open space in those days.

“Councils get a huge amount of money for development for parks but I’m not sure they spend it the right way if they spend at all,” he said.

“At Docklands we as developers had to introduce parks down there.”

Michael Buxton at Docklands in 1997.

Mr Buxton is a strong supporter of the so-called 24-hour city, which means that new developments in fringe areas should have the facilities and infrastructure to allow residents to “live, work and play” in the local area.

“We could have satellite cities on the fringes of Melbourne, 35km from the CBD, provided they’re planned properly,” he said.

Mr Buxton recently donated his Australian art collection and funded a building to launch the $26 million Buxton Contemporary at Melbourne University’s Southbank campus.

@JMasanauskas