Lord Mayor’s Annual Address
A year on from his re-election, Brisbane Lord Mayor, Graham Quirk, addressed over 250 Property Council members and guests on progress towards achieving his priorities, along with outlining focus areas for the year ahead.
The Lord Mayor began by acknowledging the important role the property industry plays in driving employment in Brisbane and his objective of giving the industry the opportunity to grow. In assessing the current market conditions facing the industry, the Lord Mayor recognised that underlying demand for dwellings will remain strong over the long-term and that Brisbane has become a more attractive prospect than the southern capitals for many investors.
An update was provided on progress with the Brisbane Metro project, an election commitment of the Lord Mayor. Under a revised scope, the project is expected to be delivered for under $1 billion, with Brisbane City Council prepared to be the primary funder. The Lord Mayor also reported on steady progress with the Kingsford-Smith Drive upgrade project, which is expected to be completed on schedule in 2019.
The Lord Mayor outlined the importance of developing Brisbane’s tourism offer as a key focus for the future. As Brisbane Airport’s New Parallel Runway project takes shape, the Lord Mayor will be looking to support new tourist-orientated projects, such as the Brisbane Live proposal and opportunities to run tourist vessels from the city to the Moreton Bay islands.
Following his address, the Lord Mayor was joined onstage by Property Council Qld Executive Director, Chris Mountford, who moderated a questions and answer session.
When questioned on the vexed issue of ‘value capture’ financing for major projects, the Lord Mayor outlined that BCC is not looking at the model as a funding option for Brisbane Metro. Taking aim at the perception of ‘value capture’ as a major funding solution, the Lord Mayor described it as the "icing on the cake, not the cake itself.”
The Lord Mayor reaffirmed his strong commitment to achieving a South East Queensland City Deal, expressing the importance of the City Deal model as a means of unlocking economic uplift rather than just another form of Federal or State Government grant.
The Property Council would like to thank the Lord Mayor, Graham Quirk, for sharing his insights with the city’s property industry. This event would not have been possible without the generous support of Major Sponsor, Multiplex, and supporting sponsor - Ray White.
Photos from the event can be viewed here.