In May 2018, the Queensland Government announced it would invest $125 million over four years to deliver a new $150 million theatre on the Playhouse Green site co-located with and operated by QPAC. QPAC will also contribute $25 million towards the project.

The New Performing Arts Venue (NPAV) will deliver a minimum 1500 seat theatre to meet existing audience and producer demand and support continued growth of performing arts in Queensland.

QPAC schedules over 1300 performances annually and welcomed a record attendance of 1.5 million people in 2017/18.

The new theatre offers the potential to host an additional 300,000 visitors each year when it is fully operational.

On 15 May, the Queensland Government announced Blight Rayner + Snøhetta as the successful Principal Consultant design team for the new theatre at QPAC.
 

Drawing inspiration from the Brisbane River as an important meeting place for telling stories, the concept design respects the heritage listed Queensland Cultural Centre while creating a new place with its own identity.
 

Key features of the concept design include:

• two new studio spaces located below street level visible from Russel Street and the main foyer
• transparent foyer spaces
• a single balcony auditorium delivering enhanced audience sight lines.
   

Design of the new theatre has been guided by the Conservation Management Plan, commissioned by Arts Queensland and developed by heritage consultants in 2017.