The Gold Coast Council announced the new City Parking Plan 2015 earlier this week (19 November), stating that it will be less difficult to find a parking spot in the city – thanks to a number of new initiatives being rolled out in the region.
This could offer some strong insight into the future of the local business environment, with more people beginning to call the region home. As finances and the economy continue to pick up, it could be worth looking into the possibility of investment in Surfers Paradise commercial property over the coming months – especially with the current interest rate landscape offering competitive figures for the real estate industry.
Mayor Tate said a key feature would be the implementation of demand pricing, which will work to reflect local parking conditions and allow those who travel during peak times to easily find a park near their destination. A test run of the program is set to happen in Broadbeach and Burleigh Heads around mid-2015.
"In a similar scheme in San Francisco, the time spent finding a parking space was cut by 43 per cent and there was a 30 per cent cut in vehicle miles. Parking became a whole lot easier, but perhaps the best news was for the local economy, where a 30 per cent increase in visits gave a huge boost to local businesses," said Mayor Tate in a 19 November statement.
"Making parking simpler, more efficient and more flexible is good for the whole city – good for locals and visitors getting around our city, and great for doing business."
Embracing the region's dedication to sustainability, the new parking measures also aim to utilise solar-power wherever possible, including on signs near car parks to signal when they're nearing capacity.
Furthermore, the use of live data transmission means motorists will always have a clear and up-to-date idea of the current traffic and parking conditions near their destination, giving them plenty of time to divert and find another option should the need arise.
All of this aims to help improve the driving experience of Surfers Paradise residents, as well as foster a more inclusive investment environment in the local business area. The current market conditions – including the upcoming public transport additions and developments in the region – offer some great incentives for buyers sitting on the fence.
This also plays in with the Queensland government's Strong Choices Plan for the future of the state, which highlighted the growing population and employment figures of the region. Queensland treasurer Tim Nicholls said these plans have the potential to create new jobs in the Gold Coast.
"We also know that Queensland's economy is expected to grow at 6 per cent next year – which means thousands of new jobs and new income for Queenslanders. We recognise there is much more work to be done to ensure everyone shares in the benefits of this growth," said Mr Nicholls in a 6 November release.
He went on to say that infrastructure development was one of the main parts of the government's plans, stating that "our Strong Choices plan could create 33,600 full-time jobs here in Queensland, stimulating further economic growth".
With the area expected to undergo huge degrees of growth over the coming years – especially with the 2018 Commonwealth Games being held in the Gold Coast – the need for more parking spaces and general business infrastructure is immense.
Get in touch with a local real estate agent today to begin discussing the various commercial investment opportunities available to you in Surfers Paradise today.