The true value of public transport is well understood by property investors. So why can’t some of this value be leveraged to fund the mass transit projects we badly need in the first place?
Join our panel at Sydney University at 4:30-6:30 pm on Wednesday 27th of November for a discussion on the future of public transport infrastructure funding. Please RSVP.
This event is in partnership with Hale Infra Strategy & The University of Sydney.
About the paper
A well planned public transport network brings a city closer to itself. It creates value for its citizens by reducing the distance between neighbourhoods. Businesses gain access to broader markets, and land value grows through quicker access to CBDs and major centres. People are brought closer to their friends and loved ones, are exposed to greater possibilities of work, and are able to reach their workplaces without the drama of traffic standstills or sardine-can train rides.
Visions for this modern, connected city where people are able to move easily over distance, and through densely populated areas are not far-fetched dreams, they are realities for many of our Asian neighbours and ‘competitor’ economies, and among many European cities.
However, it’s not merely the shortage of rail and other transport that has set us back from achieving modern cities for Australia. Our management of the value created by transit in Australia is lacking and our imagination is sadly limited.
Our paper outlines five key value capture funding mechanisms currently used to build some of the most renowned mass transit networks around the world. We discuss the planning pipeline overhaul that would need to take place in Australia for us to catch up with best practice.
Dr Chris Hale
Transforming Transit author Dr Chris Hale is a transport strategist and urban economist who has published widely on transport infrastructure issues. His research interests include; transport project procurement and finance, station design, transport analysis, and urban infrastructure in Asian mega-cities.
Joe has over 40 years of experience in urban and regional planning, infrastructure planning and funding, and property development. Joe’s company, Harbinger Partners, specialises in developing strategies and programs that leverage and capture value as a funding method for major infrastructure projects. Joe is currently under contract with Sydney Metro as a subject matter expert in metro precinct funding.
Prof. David Levinson
Prof. David Levinson joined the School of Civil Engineering at the University of Sydney in 2017. He has authored or edited several books including Spontaneous Access, The End of Traffic and the Future of Transport, The Transportation Experience, and Planning for Place and Plexus.
Emily Sims is Prosper’s own Director of Engagement as well as our spokesperson on everything urban development. She holds an undergraduate degree in international development and a Master’s in urban planning. Emily has a strong interest in rezoning and efficient land use, having completed research into rapid new developments such as Fisherman’s Bend.