City Deal a $58bn ‘Game Changer’ for SEQ
- By Peter Gordon
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- 24 Apr, 2019
South-east Queensland could be green-lit for the biggest “city deal” in Australia, with a $58 billion proposal to guide its growth, and the prime minister announcing his support for the major plan.
With a focus on supporting diverse sectors within the region including housing and planning, tourism, manufacturing and education, the SEQ City Deal could also pave the way for government-owned land to be opened for development.
Queensland deputy premier Jackie Trad this week released Transforming SEQ, which highlights 35 “opportunities” that could be considered as part of the future City Deal, including six “game changers” for the region.
“Modelling by KPMG has shown a SEQ City Deal could stimulate an increase of up to $58 billion in our economy by improving the productivity and competitiveness of the region,” Trad said.
| THE SIX “GAME CHANGERS” FOR THE REGION: |
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The City Deal, which involves all three levels of government — council, state and federal — would see government working on priorities to drive the SEQ economy.
Under a City Deal plan, all three levels of government sign an agreement to set the priority infrastructure projects and initiatives.
Integrated land-use planning approach?
Property Council chief executive Ken Morrison described the announcement as “a game-changer for the region.
“Our growing cities and urban regions are the engine rooms of the Australian economy,” Morrison said.
“The city deal model brings together all levels of government around the same plan to boost productivity and jobs through targeted investment in city-shaping projects and infrastructure.”
Property Council Queensland director Chris Mountford said the council has been collaborating with state government and SEQ councils for nearly six years on the potential for a city deal.
“The State and local governments have also agreed in principle to a more coordinated integrated land-use planning approach,”
“Opening up under-utilised government-owned land for development has also been agreed as a clear opportunity to unlock economic activity, create jobs and build business confidence.”
Growing population
The region's current 3.5 million population is forecast to increase to 5.3 million within the next 25 years, ultimately requiring an extra 800,000 homes and additional one million jobs.
Focus has been placed on the recently released people mass movement study which identifies the impact of the expected population growth on the region’s ability to cope with future transport demand.
South-east Queensland is already home to over two-thirds of the state’s population.
The region is home to nearly one in every seven Australians.
The agreement marks the second city deal for Queensland following the policy being first established in Townsville.
So far, city deals have been developed for Western Sydney, Townsville and Launceston, and a further four more are currently under negotiation in Adelaide, Hobart, Perth and Geelong.
Article Courtesy The Urban Developer 13 Feb 2019
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| Quiet simply, the Palms is the place to buy! |
Sydneysiders and Melburnians, put aside your equally outstanding flat whites for a moment. Stop bickering about whether great beaches beat cool laneways (they do) and desist from debating whether all baristas require waxed moustaches (ideally).
Because Brisbane is closing in on the title of Australia’s best city, and we must join forces to keep this subtropical upstart in its place.
Time magazine recently named Brisvegas on its “World’s Greatest Places” list, and omitted our cities. It’s a huge shock (and who knew they still published Time magazine?). But they might be onto something.
Time points to the 2032 Olympic and Paralympic Games, which will be hosted in the maroon metropolis. Brisbane will do a fine job, even though it’ll baffle the world when rugby league is added to the schedule and Queensland is allowed to field its own team.
Time’s most radical claim is that Brisbane is worth visiting now, but tourism is surging. Not only did Lin-Manuel Miranda recently drop in to catch Hamilton , but hundreds of Hamilfans flew up to watch his interview with Leigh Sales (presumably unaware that it would subsequently arrive on iView for free).
A leading local agent has appraised each side of these duplex's to be worth $665k on completion and rent for $495 per week. So that is massive potentail instant equity of up to $390K on completion, which is incredibly hard to find.