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The next stage of Canberra’s Light Rail
The Gungahlin tram line is speeding development in the Northbourne corridor, the government says, pointing to about 2500 extra apartments already in train since 2016.
The developments are on Northbourne Avenue or in the couple of blocks either side, from Dickson to the city. The government says the value of development approvals in over 16 months from November 2016 totals $394 million.
A tram takes to Northbourne Avenue in March, under budget and nearly on time.
One of the claimed benefits of the light rail project was to create higher-density living and increase property values in the corridor, increasing jobs and reducing the need to open up new housing developments on empty land further out.
On Friday, the government released its final report on the 12 kilometre line, comparing what it promised with what it delivered.
The project was designed to enhance Northbourne Avenue as "a grand entrance" in line with the Griffin vision. That vision "on track", according to the report, although it noted the landscape plantings would "require close care until fully established".
Also "on track" was the replacement of 1288 public housing properties, higher density living and higher property values. Houses in the inner north had increased in value by 39 per cent between 2014 and 2018, compared with 17 per cent across the whole city, the report said.
The original business case said the 12 kilometre line from Gungahlin to the city had a cost benefit ratio of 1.2 - bringing $1.20 worth of benefits to the city for every $1 spent. The final report revises that up to 1.3.
This article first appeared on www.canberratimes.com.au
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