Page 546 - Week 02 - Wednesday, 13 February 2013

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broad range of policy objectives by ensuring that it is considered not just as a transport project or a land development or infrastructure project but as one that brings all elements of our metropolitan context together.

The government has commenced the investigative process of assessing the procurement and financing options for the light rail infrastructure and operations, including the issue of public-private partnerships. As part of this process, we will be approaching the marketplace once we have developed an appropriate level of preliminary design to provide sufficient information to effectively and efficiently engage with the market. We will also be undertaking detailed risk analysis to understand and manage the risk presented by the project and identify appropriate strategies for risk mitigation.

As part of this work, we have also commenced the preliminary investigation for what will become the property strategy for the corridor. The urban redevelopment of this corridor will be transformative, providing a stimulus and confidence in the market for development and growth along it and at its terminus nodes in Gungahlin and the city. The work to understand the appropriate land release sequencing—including appreciating potential yields on the corridor; demand volumes and patterns, particularly around housing preference in the corridor; and demographic trends and the establishment of population and density targets—is well underway.

We will be developing a land release model that is able to immediately react to market requirements, a land release model that is attentive to the social and environmental impacts of urban renewal but that also supports affordable housing choices.

The government are aiming high with this project. We aim to put in place a framework that will safeguard high-quality sustainable design while encouraging efficient and sustainable land use. The project is not only about government investment; it is also about understanding and engaging the role of the private sector in achieving the outcomes sought.

Given the relationship of various elements of this project to the daily work undertaken by other areas of government, there will be close coordination across all government agencies that have a stake. For example, the property strategy will have strong linkages with a number of government policies and strategies, including the planning strategy, Transport for Canberra, relevant city planning projects and broader public health objectives.

The capital metro project is a multifaceted initiative, and its scope and nature are unlike anything previously managed by any previous government. It represents a vision for our future, not only in the way by which the people of the territory get about during their daily lives but, more fundamentally, in the way we think of ourselves and our city. A public transport network incorporating modern, efficient and integrated light rail services is the hallmark of a mature and confident city. It is that maturity and confidence, reflected in greater amenity, economic activity and an enhanced sense of wellbeing, that we are determined to deliver to the Canberra community. There first stage of the project is a critical step along that path.

I commend my amendment to the Assembly.

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