Wednesday, April 20, 2016

Capital Metro attracts 250 million dollars of Transit Oriented Development to Gungahlin

Infinity apartments - to be built in the Gungahlin town centre
Transit oriented development is one of the wider economic benefits that is associated with light rail. The decision by Canberra based developer Geocon to invest $250 million dollars to build several 22 storey residential buildings in Gungahlin, is a sign that providing good public transport access will attract investment.

Property website Domain reported on 20 April 2016:
"Aside from the views, amenities and location were big attractions.
“Amenity is a big sell: the sky park, the infinity pool. That gives it a resort feel,” Mr Georgalis said.
“It’s only a few 100 metres from the light rail terminal. Light rail is quite attractive.”

Mr Georgalis said the the short walk between the complex and The Marketplace shopping precinct had been attractive to buyers and town centre tenants."

The Canberra Times Gang-gang column on 21 April 2016 reported:
"Then in conversation with Nick Georgalis yet another Satanic, knicker-knotting-for-Canberrans issue arose. Light rail. Horror!
He fancies that the promise of light rail ("the terminus will be just 200 metres from here" he rejoices, gesturing to where that amenity will be) is assisting the attractiveness of Infinity Towers.
"It's a big drawcard," he's sure, because it will give the people who live in the Towers an easy "connectivity" with the city. He thinks that is an especially desirable drawcard for people in their sixties."
Artists impression of the view from one of the Infinity apartments
The 426 apartments in the Infinity development will significantly add to the population of the Gungahlin Town Centre, making local businesses more viable. People living in the development that work in Civic or Dickson, or any location along the Capital Metro Stage One corridor, will be able to walk a few hundred metres to the Hibberson Street light rail station and simply step on to light rail for their commute.

Capital Metro Stage One is demonstrably attracting investment along the light rail corridor. It is already proving itself to be a useful planning tool in reshaping Canberra for a more sustainable future. As Canberra's population increases we have the choice of building "up" or "out". It is better to construct taller buildings in town centres, where services already exist, than greenfield developments in areas with complex biodiversity. Light rail provides the transport facilities that make densification along transport corridors viable and sustainable.

As well as this website, the facebook group 'Light Rail for Canberra' carries frequent updates on Capital Metro and light rail related news. 

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