Page 544 - Week 02 - Wednesday, 13 February 2013
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sites which are significantly underdeveloped. These include public housing redevelopments, the Dickson group centre and the potential redevelopment of land currently occupied by EPIC and the racecourse.
As a key landowner, and as the land manager under the leasehold system, a unique opportunity exists for the ACT government to both directly and indirectly encourage urban renewal along the corridor, and indeed at the key anchor points of Gungahlin and the city.
Providing additional transport capacity is a significant enabler of promoting further development of these sites, allowing for the better use of existing land capacity within the corridor. The light rail network will enhance the sustainability of our development patterns.
As part of the project, the government will actively support transit-oriented development. This will include a mix of activities along the corridor, with the aim of encouraging a greater level of localised trips, which are more likely to be undertaken through walking and cycling. Where intertown travel is required to connect with employment hubs, faster and more reliable public transport services, facilitated by light rail, will encourage greater use of public transport.
The project is also economically efficient. A preliminary cost-benefit analysis undertaken suggests that, despite the higher cost of delivery, rapid transit has the potential to be economically viable. The preliminary economic appraisal showed that light rail under a “business as usual” population scenario delivers a benefit-cost ratio of just over one. By prioritising residential and employment growth along the corridor and within the Gungahlin town centre and city areas, in line with the government’s planning strategy and transport for Canberra plan, the benefit-cost ratio increases to above two. That ratio represents an economically viable project, which, given the transformational capacity of light rail, is highly worthy of delivery.
The development of a light rail system will represent a significant capital investment in transport infrastructure and will implement the government’s strategies and actions identified in Transport for Canberra and the planning strategy.
However, the real value of the capital metro project is in enabling transformation of how the city develops and its capacity to encourage growth in economic activity, particularly at the anchor points in the city and Gungahlin, as well as along the corridor.
The aim of the government, as outlined in our parliamentary agreement, is to commence construction by 2016. In order to meet this deadline, work has already commenced. Feasibility projects completed up to January 2013 include concept planning and transport engineering of light rail transit alignment options, including kerbside and median alignment; evaluation of certain options; land use development scenarios; government agency stakeholder consultations; the release of project update 1, informing the public on the progress of the project; concept design reports; community consultations during April-May 2012; the release of project update 2; the facilitation of six community information sessions in Civic, Dickson and Gungahlin,
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