The future for fast rail and property

The plan for fast rail and eight smart cities from Melbourne to Sydney will be discussed at a forum of property industry leaders in Sydney today.

The Property Council of Australia forum will hear from Consolidated Land and Rail Australia (CLARA) Chairman Nick Cleary, former NSW Premier Barry O’Farrell and Director at the Future Cities Collaborative at the University of Sydney, Sandy Burgoyne, on the property industry’s role in building smart, satellite cities and options for the future for travel.

CLARA proposes to build eight inland cities between Melbourne and Sydney connected by high speed rail using a value capture approach to funding.

Property Council NSW Executive Director Jane Fitzgerald said today that it is an exciting plan with plenty of positive opportunities.

“With a growing population and the demand for better infrastructure, more housing and services, it’s logical to explore all the options available for easier and faster travel.

“The creation of smart, satellite cities, connected with pre-existing regional centres, makes economic sense.

CLARA Chairman Nick Cleary says it is important to have the property industry on board for the proposed privately based, value capture funding model.

“We cannot build high speed rail and smart cities without the cooperation and collaboration of the property industry.

“CLARA and the property industry share similar visions for cities including the prioritisation of sustainability, liveability and affordability.”

Former NSW Premier Barry O’Farrell says the plan is an exciting one with plenty of potential.

“Australia is a growing, modern nation – CLARA’s plan has the potential to make travel between our major east coast capitals much faster and easier than before while unlocking the economic potential of our regional areas.”

 

Media contact:  William Power| M 0429 210 982 |   E wpower@propertycouncil.com.au