City Deal A $58bn ‘Game Changer’ For Southeast Queensland

City Deal A $58bn ‘Game Changer’ For Southeast Queensland

South-east Queensland could be green-lit for the biggest “city deal” in Australia, with a $58 billion proposal to guide its growth, and the prime minister announcing his support for the major plan.

With a focus on supporting diverse sectors within the region including housing and planning, tourism, manufacturing and education, the SEQ City Deal could also pave the way for government-owned land to be opened for development.

Queensland deputy premier Jackie Trad this week released Transforming SEQ, which highlights 35 “opportunities” that could be considered as part of the future City Deal, including six “game changers” for the region.

“Modelling by KPMG has shown a SEQ City Deal could stimulate an increase of up to $58 billion in our economy by improving the productivity and competitiveness of the region,” Trad said.

Prime minister Scott Morrison will be meeting with the SEQ Mayors and Queensland government to discuss the proposal this week.

The City Deal, which involves all three levels of government — council, state and federal — would see government working on priorities to drive the SEQ economy.

Under a City Deal plan, all three levels of government sign an agreement to set the priority infrastructure projects and initiatives.

Integrated land-use planning approach?

Property Council chief executive Ken Morrison described the announcement as “a game-changer for the region.

“Our growing cities and urban regions are the engine rooms of the Australian economy,” Morrison said.

“The city deal model brings together all levels of government around the same plan to boost productivity and jobs through targeted investment in city-shaping projects and infrastructure.”

Property Council Queensland director Chris Mountford said the council has been collaborating with state government and SEQ councils for nearly six years on the potential for a city deal.

“The State and local governments have also agreed in principle to a more coordinated integrated land-use planning approach,”

“Opening up under-utilised government-owned land for development has also been agreed as a clear opportunity to unlock economic activity, create jobs and build business confidence.”

Growing population

The region’s current 3.5 million population is forecast to increase to 5.3 million within the next 25 years, ultimately requiring an extra 800,000 homes and additional one million jobs.

Focus has been placed on the recently released people mass movement study which identifies the impact of the expected population growth on the region’s ability to cope with future transport demand.

Minister for Cities Alan Tudge said he, along with the prime minister, will be meeting with the SEQ Mayors to discuss the Deal.

“We need to cater for this rising population and the SEQ City Deal will be a huge step forward,” Tudge said.

South-east Queensland is already home to over two-thirds of the state’s population.

The region is home to nearly one in every seven Australians.

The agreement marks the second city deal for Queensland following the policy being first established in Townsville.

So far, city deals have been developed for Western Sydney, Townsville and Launceston, and a further four more are currently under negotiation in Adelaide, Hobart, Perth and Geelong.

Source: The Urban Developer

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