The Green Bridge is set to open in December 2006, ahead of schedule by 3 months, which is an excellent result for the Green Bridge team.
The Green Bridge is the first of it's kind in Brisbane, as it only services buses, pedestrians and cyclists. Currently passengers traveling from the Eastern Suburbs are required to change buses at either South Bank or the City before continuing to UQ. The new Green Bridge will enable a direct link from the South East Busway to the St Lucia campus, saving time for passengers, allowing greater choice and flexibility for students living in the Eastern suburbs of Brisbane and will reduce the number of buses that run along Coronation Drive and through the city. There will also be a new direct link from the CBD through South Bank and on to UQ via the Green Bridge, which should alleviate demand for the popular 407 City to UQ Rocket bus.
Previously passengers and cyclists were required to use the cross river ferry between Dutton Park and UQ, which while not a bad service, did have restrictions especially during university breaks. To these users the most difficult change will be the reduced parking in the area as Brisbane City Council introduce time restrictions for parking in the streets.
As a result of the Green Bridge's impending completion property prices have also had a spike in the area. Houses along Fairfield Road have been selling for around $400k, which appears top dollar given these houses are on a main road, but may be an indication of 'normal' prices for the area.
It is of no surprise that prices have spiked, as this is the normal course around new infrastructure. When new infrastructure is proposed there is often a mix of price 'dips' for those properties close enough to the proposal to provide uncertainty to their future, but also price spikes for those with a certain future and excellent access to the proposal. These prices then may level out as some infrastructure projects can take up to a decade to eventuate but generally when construction starts and then again when construction nears completion focus is brought back to the properties surrounding the infrastructure.
It will be interesting to see the changing face of Fairfield, Dutton Park and Woolloongabba as this Green Bridge is completed, the Boggo Road Gaol site begins and the Eastern Busway gets underway. With this new found accessibility, infrastructure, services and leisure components, the demand, quality and possibly density of housing in the area may change dramatically. Keep this in mind as you consider that the closest housing to the Green Bridge to the South is zoned Low Density.
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