7 Apr 2013: SEQ: Can Transit Oriented Development part fund CRR?

[ozbob]

Media release 7th April 2013



SEQ: Can Transit Oriented Development part fund CRR?

RAIL Back On Track (http://backontrack.org) a web based community support group for rail and public transport and an advocate for public transport passengers is very concerned that the failure to drive Cross River Rail funding will lead to a transport catastrophe for South-East Queensland.

Robert Dow, Spokesman for RAIL Back On Track said:

"Mr Tony Abbott has said he will cut funding for Cross River Rail, and other proposed urban rail projects around the nation should he lead a Federal Government."

"Liberal Theresa Gambaro holds a marginal seat full of swinging voters by only about 1%. Her federal electorate contains the core of the rail network - Roma Street, Central and Bowen Hills and the entire Brisbane CBD where Cross River Rail will be built. Her electorate will be the worst affected by the Abbott Rail Cuts."

"The question is now, can Cross River Rail be progressed by part funding by Transit Oriented Development and private investment?"

"Intensive transit oriented development around and above railway and busway stations, such as happens in Toronto, Ontario, Canada should be looked at by a commission comprising of BCC, Railway operators, TMR, TransLink, Queensland Government and the development industry."

"There are 85 train stations within the BCC boundaries. That is more train stations than the entire Toronto TTC Subway system, which is known worldwide to have large condominium towers above and around its railway stations. There are also over 20 busway stations which could be scoped for development. Development along BUZ routes should also be looked at."

"Back-of-envelope estimates suggest around fifty to one hundred 30 story developments in inner Brisbane like FKP's 'The Milton' would be needed to raise a quarter to half the funds for Cross River Rail. In Victoria, VicTrack, a state government agency has done a number of developments around rail which have sold at premium prices very quickly."

"We have to think of alternative funding solutions. Given the size and cost of the project, the bulk of the funding will still have to come from government. Fare increases are also not an option as these are already among the highest on Earth already."

"Short term strategies to manage the looming capacity crisis,  as outlined in the Early Capacity Works are looking increasingly desperate. Cross River Rail must be progressed."

"Failure is not an option!"

References:

1. Barnett should look to private sector to fund rail
http://www.watoday.com.au/wa-news/barnett-should-look-to-private-sector-to-fund-rail-20130405-2hbdd.html

2. VicTrack ICON development
http://www.victrack.com.au/statewide-projects/category/integrating-transport-and-land-use-planning/glen-waverley-station-development

3. Sheppard subway gets moving
http://life.nationalpost.com/2012/11/09/sheppard-subway-gets-moving/

4. Spadina Subway Extension Starts to Pay Off in Vaughan
http://urbantoronto.ca/news/2012/11/spadina-subway-extension-starts-pay-vaughan

5. Early Capacity Works
http://www.tmr.qld.gov.au/Projects/Name/C/Cross-River-Rail/Early-Capacity-Works.aspx

Contact:

Robert Dow
Administration
admin@backontrack.org
RAIL Back On Track http://backontrack.org

[ozbob]

Discussion thread CRR --> http://railbotforum.org/mbs/index.php?topic=2034.msg123744#msg123744