While construction of the Gold Coast’s Rapid Transit project isn’t due to commence until November of this year, and completion remains as far away as 2014, commentators and industry insiders are already discussing the positive impact the project will have on real estate values along the Parkwood to Broadbeach route.

Many agree that prices are unlikely to jump overnight, but a gradual increase of 10% or more is expected, with even greater gains for developers amalgamating sites close to the new transport hubs that the project will create.  Already, a developers are sitting on a number of sites near the Gold Coast Convention Centre, and the project’s initial Broadbeach terminus, with hopes of large future capital gains.

In another step forward for the Gold Coast Rapid Transit system and a boon for Southport Central’s commercial precinct, the expanding GCRT team has moved into new headquarters in the downtown Southport building.

The 1500sqm office space should accommodate the team of 80 as they prepare for the start of construction on the project, due in November this year.

The Gold Coast’s Rapid Transport System is another step closer, with Transport Minister Anthony Albanese reinforcing the Federal Government’s commitment to the project.

This move has seen over $110m worth of roadworks contract go out to tender, and added further credibility to the project’s 2014 completion date.  Within it’s first decade of operation, the new light rail system is planned to generate around 6300 jobs (directly and indirectly) as well as cutting the Gold Coast’s greenhouse gas emissions by over 110,000 tonnes.

Mayor Ron Clarke announced today that a 7000sqm block on Cypress Avenue in Surfers Paradise, currently home to a car-park, is slated as a possible new green space area.

The move is still subject to Council resolution, and would not take place until after part of the site was used for the construction of the future Rapid Transport system, but it would answer growing calls from residents and business alike to improve the amenity of Surfers Paradise by adding more open public space.

The Council’s Sustainable City Future Committee has endorsed the option to extend the Rapid Transport system from it’s current northern terminus at the new Gold Coast Hospital to run up Olsen Avenue, past Harbour Town Shopping Centre and to Helensvale Railway Station via Brisbane Road.

This extension would link the Rapid Transport system with the existing Varsity Lakes to Brisbane Airport rail link.

The final decision remains in the hands of State Transport Minister Rachel Nolan.