Tramline extension will increase RAH site attractivenessToday’s tramline extension announcement is welcome news for one of Australia’s most exciting development opportunities – the existing Royal Adelaide Hospital site.The peak body for Australia’s $680 billion property industry said it had campaigned long and hard for extending the tramline down North Terrace. “The extension of Adelaide’s tramline along North Terrace and East Terrace – and eventually connecting to The Parade in Norwood – is good news for the north-eastern quarter of the CBD,” said SA Executive Director Daniel Gannon. “Job-creating business owners and residents will welcome today’s announcement with open arms. “Of course, there are many questions left to be answered with regard to funding and delivery, but without doubt this commitment will increase the attractiveness of the existing RAH site for potential investors. “Don’t forget that the existing site is 215,000sqm of CBD land flanked by the Torrens to the north and North Terrace to the south. “The existing RAH site also supports a deep pool of workers and people commuting to the RAH. “Rundle Street alone boasts 100 businesses and provides employment to almost 3,0 people while pedestrian volume is close to 25,000 people per day. “We’re talking 6,000 RAH staff, 70,000 ED patients, 4,000 ICU patients, 83,000 general patients, and 0,000 patients treated through outpatient appointments. “Today’s announcement is welcome news for job-creating business owners, city commuters and residents – talk must now turn to identifying and attracting a future use of the existing site. “The State Government has revealed that expressions of interest will be taken until 1 September 2015. Future plans must provide economic stimulus to avoid placing at risk thousands of jobs and hundreds of businesses in the north-eastern quarter of the city. “Of course we also need to bear in mind both the day time and night time economy to ensure ongoing and sustained economic stimulation. “It’s time to think big with the potential for this site, and look at ways of encompassing a mixed-use development comprising residential, retail, tourism and possibly even retirement living.”The existing RAH site has all the trappings to punctuate Adelaide’s CBD with excitement and vibrancy and support long-term ideals to grow our city residential population and create jobs. “Extending the tramline past the RAH site only serves to increase its attractiveness as an investment site.”
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