Developer demands extension to Ipswich rail line - Queensland Property Investor
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Developer demands extension to Ipswich rail line

RIPLEY residents need access to effective and affordable transport, sooner rather than later.

That’s the message from Sekisui House the developers of major residential precinct Ecco Ripley who have joined calls from civic leaders for work to start on Ipswich’s rail line expansion now.

The Labor State Government maintains it will build the promised extensions to the rail network, including two new stations at Ripley; Ripley North and Ripley Town Centre.

No date has been set and no budget allocated, however, the land for a future passenger line has been preserved since 2009.

Ripley is among the fastest growing suburbs in the state and in 2013 was designated by the State Government as a priority area for development, destined to be home to 120,000 people in the next 20 years.

Ripley Town Centre development manager Taku Hashimoto said Ripley and the surrounding area was on the cusp of some of the most significant projected population growth in Queensland and even Australia.

“The corridor between Ipswich and Springfield is already experiencing a rapid pace of growth and that will only continue well into the future, so this will require a focus on public transport solutions, including rail transport, in a timely manner,” said Mr Hashimoto.

“The Queensland Government has specifically highlighted the Ripley region as a Priority Development Area (PDA) and is forecasting an ultimate population of 120,000 people over next 20 years.

“Early provision of rail line service in this area is critical to support the growth agenda in the Ripley region.

“As the Ecco Ripley community continues to develop, and as future stages of Ripley Town Centre come to fruition, we want the community to have affordable transport choices that improve people’s access to services, employment and avoid social isolation, particularly for youth, seniors and other non-drivers.”

According to Ipswich City Council’s annual planning and development report, the top five areas for residential development in 2017 included Springfield Lakes, South Ripley, Ripley and Bellbird Park where a total of 1229 new homes were built.

Those suburbs also rank in the council’s top five suburbs for new lots created and new lots approved.

In 2020, two new schools will open in the Ripley Valley, according to a Labor election promise, catering for population growth. A third school will be built in Springfield.

But the corresponding transport infrastructure has not been prioritised by the State Government which says the extensions to the rail line, including adding stations at Ripley, Flagstone and Redbank Plains, won’t be built until after 2024, once the inner city Cross River Rail project has been finished.

Already more than 500 homes have been built in the Ecco Ripley community.

Last year, 183 new homes were built in Ripley housing 545 people, according to Ipswich City Council’s Planning and Development Annual Report Card. A further 301 homes were built in South Ripley, housing 956 people.

The $1.5billion Ripley Town Centre will be the beating heart of the $500 million Ecco Ripley community.

Developer Sekisui House has proposed to build a state-of-the-art transit hub in its town centre.

Without a shift in government long-term planning, that won’t include a rail line until 2031.

Originally Published: www.qt.com.au

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Gold Coast

Gold Coast Airport Lands $100m ‘Green’ Loan

Gold Coast Airport Lands $100m ‘Green’ Loan

The operator of the Gold Coast Airport, Queensland Airports Limited, is set to reduce carbon emission through $100 million in “sustainability-linked” loans from Commonwealth Bank and Westpac.

The fin­ancing deal with Gold Coast Airport is the first in Australia to be directly linked to a reduction in carbon emissions.

Commonwealth Bank is funding $75 million of the sustainability-linked loan and Westpac $25 million pushing the emissions-linked portion of the funding to $100 million.

Airport operators will use the funding to redevelop the airport and double its terminal floor area over several years, with interest rates to fluctuate depending on whether the airport is able to meet its emissions targets. Underperformance will trigger an increase in pricing.

The multi-year project has been designed to improve the customer experience and address current and future capacity issues.

Gold Coast Airport Lands $100m ‘Green’ Loan 1

The Gold Coast Airport deal is part of a move by CBA to develop solutions to help customers who are looking for greener and more energy-efficient opportunities.

“The world is changing rapidly and it’s imperative that we are always looking for innovative solutions that help our clients navigate this change,” CBA group executive of institutional banking and markets Andrew Hinchliff said.

“Commonwealth Bank’s financing deal is the first in Australia to be directly linked to a reduction in carbon emissions, with the potential for a margin reduction provided the airport meets targets linked to a reduction in carbon emissions intensity.”

In May, CBA chief executive Matt Comyn announced plans for the Green Mortgage initiative, a reward scheme for energy efficient home owners.

Gold Coast Airport Lands $100m ‘Green’ Loan 3

About $500 million has been invested in the airport precinct including the foundations of the southern terminal expansion and the Rydges-branded airport hotel, which is now under construction.

The southern terminal will house the airport’s international operations, with capacity to service domestic flights using a swing gate system, based on demand.

“Environment, Social and Governance is an area QAL is increasingly focused on, and we have already delivered several sustainability projects across our airports in the past few years,” Queensland Airports chief executive Amelia Evans said.

“Some of these projects include reducing greenhouse gas emissions at Gold Coast Airport by replacing lighting with LED, upgrading air-conditioning units and replacing energy efficient drive motors within our baggage handling system.’’

By 2037 the airport precinct will contribute north of $800 million annually to the region and support an estimated 20,000 full time jobs.

 

 

Source: theurbandeveloper.com

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Brisbane

Infrastructure Australia Approves $2bn in Queensland Upgrades

Infrastructure Australia Approves $2bn in Queensland Upgrades 3

More than $2 billion worth of planned upgrades has been given the green light by Infrastructure Australia, after the business cases for three Queensland projects were approved.

Infrastructure Australia, the nation’s independent infrastructure advisor, added the Queensland projects to the priority list, which is the pipeline of nationally-significant proposals for governments at all levels to choose from.

The three new priority projects:

  • The Bruce Highway – Cairns Southern Access Corridor. Stage 3: Edmonton to Gordonvale.
  • M1 Pacific Motorway (Eight Mile Plains to Daisy Hill) and;
  • M1 Pacific Motorway (Varsity Lakes to Tugun).

“Being included as a Priority Project on the Infrastructure Priority List shows that a proposal has undergone a rigorous business case assessment and been proven to have significant benefits for the community,” Infrastructure Australia chief executive Romilly Madew said.

“[The] Priority List identifies close to $4 billion worth of nationally-significant projects for Queensland, which are critical to improving both productivity and quality of life,” Madew said.

Infrastructure Australia Approves $2bn in Queensland Upgrades

Bruce Highway upgrade

The Bruce Highway proposal would create a four-lane highway between Edmonton and Gordonvale.

A portion of the road that has recorded high crash rates.

“Between 2007 and 2012, 79 crashes were reported along this section, almost double the rate reported on similar roads across Queensland,” Madew said.

Infrastructure Australia Approves $2bn in Queensland Upgrades 1

M1 Eight Mile Plains to Daisy Hill upgrade

Up to 150,000 vehicles travel daily on this section of the M1, and due to southeast Queensland’s growing population, this figure is forecast to grow to more than 200,000 by 2041.

The proposal would widen an 8.5 kilometre section of the motorway, improve local busways which Madew says would relieve congestion in the area for the next 15–20 years.

“The project also supports active transport through the provision of an extended cycleway,” she said.

Infrastructure Australia Approves $2bn in Queensland Upgrades 2

M1 Varsity Lakes to Tugun project

This proposal aims to improve a congested section of the motorway that connects northern NSW and the Gold Coast.

“Increased traffic volumes are causing a high number of accidents and worsening travel times, impacting on local residents travelling to work as well as tourists, tour operators and freight vehicles,” Madew said.

“Widening the motorway in both directions will reduce congestion along this vital corridor, and support the Gold Coast’s economic development.”

Madew said that being included on the Infrastructure Priority List supports better project selection.

“By ensuring Australia’s governments are presented with the best available evidence when making funding decisions,” she said.

 

 

Source: theurbandeveloper.com

 

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Brisbane

Government Signs Off on $5.4bn Cross River Rail

Government Signs Off on $5.4bn Cross River Rail

A multi-billion dollar construction contract has officially been signed for Brisbane’s Cross River Rail, guaranteeing the delivery of the south east Queensland major infrastructure project.

Pulse Consortium signed the contract with the Queensland government in an agreement that will deliver tunnelling works, the project’s new underground stations and ongoing maintenance for the infrastructure project.

The Pulse Consortium, selected as the preferred proponents in April, is made up of ASX-listed CIMIC Group, Pacific Partnerships, CPB Contractors, and UGL with international partners including DIF, BAM, and Ghella Investments & Partnerships.

Major construction will kick off later this year as scheduled, beginning with the demolition of the Roma Street Transit Centre.

CIMIC Group chief executive Michael Wright said they would use an integrated approach on the $5.4 billion project.

“We will finance, design, construct and maintain the new tunnels and rail stations, in partnership with the state government,” Wright said.

Government Signs Off on $5.4bn Cross River Rail 1

The engineering giant, CIMIC Group, announced it will see approximately $2.73 billion in revenue from the project.

“CIMIC Group has led the development of the project’s proposal, with lead sponsor Pacific Partnerships providing 49 per cent of the equity finance, with the remaining 51 per cent to be provided by DIF, BAM PPP PGGM and Ghella Investments & Partnerships.”

CPB Contractors will deliver the design and construction in a joint venture with Ghella, BAM International and UGL.

UGL will also provide maintenance services on the project across 24 years.

Queensland Deputy premier Jackie Trad described the move to lock in the companies as a “key milestone”.

“Our commitment to this project will see tunnelling construction kick off next year too,” Trad said.

Government Signs Off on $5.4bn Cross River Rail 2

By 2036, state government anticipates south east Queensland will be home to nearly five million people.

Currently, Brisbane’s network includes a single rail river crossing with all lines running through the same four city centre stations.

Trad said the infrastructure project, which is without federal funding following the re-election of the Coalition government, will “unlock this bottleneck”.

Plans for Cross River Rail include the delivery of four new underground stations at Boggo Road, Woolloongabba, Albert Street and Roma Street, with upgrades to Dutton Park and Exhibition stations.

The project is forecast to create 7,700 jobs during construction and with plans to be in operation by 2024.

 

 

Source: theurbandeveloper.com

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