Private sector and governments must collaborate to create funding mechanisms.
Erwin Edlinger, director of development, consulting and agency at Colliers International WA, told delegates at the National Economic Development Conference in Perth last week that well-planned infrastructure would deliver a significant boost to the property industry and the wider economy.
Speaking to a national audience of 200 delegates, including a strong contingent from local governments, Mr Edlinger said private investment and property development flowed from infrastructure delivery, once investment platforms had been provided.
“Governments need to be creative, dynamic and think outside the box to secure alternative funding mechanisms rather than waiting for better financial conditions or population growth targets,” Mr Edlinger said.
The conference, which was held in WA for the first time, was hosted by the City of Swan at the Mandoon Estate & Homestead Brewery in the Swan Valley.
Mr Edlinger said the new Cockburn Central activity centre, just south of Perth, demonstrated how private and public collaboration could deliver a successful infrastructure project.
He told the gathering that Cockburn Central, a major TOD-based activity centre on latent Government land was the result of a successful collaboration between a string of WA State Government agencies, the City of Cockburn, and private developers and property companies, including Colliers International, which had been an active consultant in Cockburn for the past 10 years.
“The success of Cockburn Central is now being replicated in Cockburn Central West, which has public investment of $100 million and a multi-purpose sporting and community facility that is attracting significant funds from private investors here and overseas,” Mr Edlinger said.
“In the current economic climate, the public and private sectors must collaborate to ensure major infrastructure projects are built.”