Business and Investment Benefits of Light Rail

investment benefits light rail

BUSINESS AND INVESTMENT BENEFITS OF LIGHT RAIL


Since light rail construction became fact, the Light Rail Business Link Program has been highlighting the returns an efficient and attractive public transport system can offer our city.

There are already real indicators of how light rail will attract investment and business to the corridor as detailed by Program Manager Lisa Morisset at the recent Light Rail Business Link Quarterly Forum.

Development along the corridor, led both by government and private companies, is already underway.

A collection of public housing and government-owned offices, including the Dickson Motor Registry and the tourist visitors’ centre are being sold for redevelopment.

Local developer Art Group, purchased the first parcel of ACT Government land along the corridor. It spent $40 million to acquire a 2.9-hectare estate with a half-kilometre Northbourne Avenue frontage, which it plans to develop as a mixed-use precinct.

Canberra-based Amalgamated Property Group plans to build a 12-level office building in the city’s centre; GeoCon has bought the site of the old NRMA Building, positioned right at a light rail stop, for a mixed-use precinct; and the planned Midtown project will be located next to the Macarthur Avenue tram stop.

Owners of the Kamberra site, currently home to the Kamberra Function Centre and the Palliative Care ACT Tom Elvin Centre, are investigating opportunities to enhance health and well-being services on the property. Kamberra on Federal aims to be a socially inclusive, sustainable and integrated urban village.

In addition, there is significant development occurring around Gungahlin, including a new entertainment centre and retail precinct due for completion by the end of next year.

15 March 2017

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