CRR more than another infrastructure project
Over recent weeks the Cross River Rail project has firmed as a distinct point of political difference.
The State and Federal Governments, along with their infrastructure assessment bodies, are at odds over the project’s merits. With a State Election looming, the LNP is non-committal towards the project, while the Palaszczuk Government has nailed their colours to the mast.
It’s unclear where all of this will land, but it seems the project’s fate rests with the outcome of the State election. Sadly, this is familiar territory. It was also the case with the BaT Tunnel and the first version of CRR.
The depoliticization of infrastructure planning and investment in Queensland feels a long way off.
The next round of debate will be sparked when the State releases a public version of the CRR business case in the coming weeks. It certainly hasn’t helped that all of this debate about the business case has occurred without the business case actually being publicly accessible. This has made it difficult for the community, and groups like the Property Council, to fully engage in a discussion about the merits of the project. There are clear lessons to be learnt here.
From our end, the Property Council has always supported the planning and provision of major infrastructure to meet the needs of our growing population. Not just for the immediate impact that these projects have in stimulating the economy, but more so for the longer-term productivity, growth and city shaping potential that they unlock.
If Queensland policymakers could embrace asset leasing, like NSW and Victoria, the revenue windfall would largely negate any consternation about where CRR sits in the list of infrastructure priorities. Regrettably, this is not the case.
And while we do want to see the business case to fully understand the ins-and-outs of the project, the Property Council continues to be generally supportive of CRR, because it is more than just another infrastructure project. CRR provides long-term city shaping opportunities, which would enable the property industry to create prosperity, generate jobs and build a wealth of new urbans spaces.
Friday’s Property Council lunch will see a panel of experts and key project proponents explore how best to utilise CRR, and the Brisbane Metro project, to shape future land use and development opportunities in Brisbane.