The plan, titled a New Deal for Urban Australia, seeks to address the major problems facing urban areas around the country, such as congestion, inadequate planning, and the lack of funds available for investment in community infrastructure. The plan calls for the establishment of a new “Urban Infrastructure Fund”, which would raise money for infrastructure projects by issuing investments to both retail and institutional investors.
“What we currently have is a miss match between where the funding is and where the need is,” said Debra Goostrey CEO UDIA in Western Australia.
“Particularly in a state like Western Australia, which is experiencing such high growth, it is difficult to raise the funding required in the timeframe needed.
“By creating a vehicle for investment we can raise significant funding for infrastructure at a minimal cost to government. The Urban Coalition also recommends the establishment of a new Federal Government
Department for Cities and Urban Development, as well as strengthening the role of Infrastructure Australia, in order to ensure better strategic planning of cities and value for money.“
Expectations for our cities are different from what they were fifty or a hundred years ago and we need to update our
governance structures to reflect that change,” said Ms Goostrey. “When you get ten organisations with very
different vested interests all saying the same thing, the government should listen.”
The Urban Coalition includes: UDIA, Property Council, National Growth Areas Alliance, Planning Institute, Consult Australia, Green Building Council, Australian Institute of Architects, Australian Conservation Council, Australian Sustainable Built Environment Council, The Association of Building Sustainability Assessors.