Page 4245 - Week 14 - Wednesday, 27 November 2013
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Manchester council emphasises these project benefits in their investment decisions, which has resulted in the light rail receiving 75 per cent of the infrastructure budget in recent years. In Dallas, its $1 billion light rail system opened in 2003 and 28 per cent of the project costs were offset through the sale of land around only a few light rail stops. The value of commercial developments at stops alone amounts to some $7 billion.
All over the world light rail is proven to attract investment, create opportunities and is effectively meeting the settlement and transport needs associated with population growth, not to mention its ability to increase the use of public transport. All these reasons are why it is an integral part of the government’s plan for a sustainable city.
Experiences show that the timing of public transport investments is crucial. The project corridor is one of the most rapidly growing areas of the ACT, with a population growth rate of 6.8 per cent, five times the rate of the region. By investing in light rail along the corridor now, we will ensure we can benefit from this growth without putting additional strains on infrastructure. Investment now will ensure we capitalise on the development opportunities along the project corridor ensuring all Canberrans benefit from this important investment decision. It is clear that light rail, effectively integrated with other modes of transport, is the best option for Canberra’s future. Accordingly, the government went to the election with a commitment to build the first stage of the light rail network for Canberra, the capital metro project.
Madam Speaker, contrary to opposition claims, the decision to deliver light rail for Canberra has not been made on a whim, nor was it a decision to hold power with the support of the Greens. The decision to proceed with the capital metro project is based on many years of work that included feasibility studies, preliminary business cases, the development of Canberra’s transport policy and establishing the Gungahlin to city project office. All this work has fed into the government’s plan to deliver transit and urban development along the Northbourne corridor. Over the next 12 months extensive preparatory work is required for this major infrastructure project. Work is being carried out across a range of areas to comprehensively define the project and further develop the business case to ensure we fully capitalise on the wider economic and social benefits that light rail can bring.
Work currently underway includes: finalising a revised Infrastructure Australia submission to include the land development uplift benefits of light rail as well as further demonstrating why the project is nationally significant; reviewing patronage demand and forecasts to ensure robust and accurate data; preparing a value for money report and developing a funding and affordability strategy to ensure the best options are put forward to government for consideration; and creating an early works schedule that surveys the planned route to determine what is under the ground and how capital metro will need to be constructed. This work will also identify potential government projects that can be initiated earlier to support implementation of light rail.
Further work underway includes: engaging with industry to determine interest and capacity to deliver the project, informing a detailed delivery and procurement strategy; developing a sustainability plan to ensure the project’s sustainability benefits are identified and maximised; and the light rail master plan will determine how capital
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