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Value capture funding for the future of public transport

Wednesday, November 27, 2019 - 16:30 to 18:00
Case Study Lecture Theatre 1170, Abercrombie Business School
Sydney University, Darlington
Sydney NSW
Australia
Description

Join our panel for a candid discussion on the latest thinking in value capture funding innovations that have helped create transit networks now moving millions of people daily in Hong Kong, Singapore and Japan. 

Transport specialists will hear up-to-date thinking on funding innovations that have proven themselves internationally. Urban planners will benefit from hearing a more ‘holistic’ assessment of land use planning as a tool for integrated infrastructure delivery and funding. For architects and designers, our discussion will address ‘value creation through design’ in the context of delivering transport orientated development. 

This event marks the launch of our recently published discussion paper, The Transit Transformation Australia Needs.

This is a free event. More information and RSVP here.

Our Panelists

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 Langley: 
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, and Planning for Place and Plexus.

Emily Sims: 
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.
 

About the paper

A well planned public transport network 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 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 metropolois 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 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 limited.

Current planning approaches are blind to the beneficiaries of new transit projects, most significantly nearby landowners. This opens the door to land speculation and corruption. Value capture identifies and leverages this value creation rather than gift it freely and leave taxpayers to foot the bill. 

With value capture innovation, we can afford to build the infrastructure we need in 10-15 year horizons instead of the unambitious 30-40 year projects currently mooted by our governments.

It also opens up the challenge of maximising the value created by transport projects by integrating holistic urban planning and architecture. 

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.

Read the full paper here.

This is a free event. More information and RSVP hereThis event is in partnership with Hale Infra Strategy & TransportLab at The University of Sydney. Prosper is an independent policy institute working on efficient and equitable economic reform. Sign up to our newsletter.

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