So, where do I start?
Anyone who has followed me on Social Media (possibly not many?) or has spoken to me directly in the last few years, will know, I am NOT A FAN of the Gold Coast Tram
Allow me to explain.
I still remember a time before the tram, when life on the Gold Coast was running fairly smoothly and the City Leaders were planning for an exciting future. Our Mayor was ‘spit-balling’ concepts like a Cruise Ship Terminal, and our state government was projecting what form public transport should take for the Gold Coast’s future. And, while what appeared to me as ‘lip service’ was presented, we were given a number of alternatives. What was obvious to even us mere mortals, was that the tram was ‘The Preferred’ model by our state government, even then.
Around that time I remember attending a Chamber of Commerce breakfast in Southport. The ‘Local, State Member’ a minister in the Queensland Government, gave a ‘presentation’ to all those attending, outlining what was being considered as public transport options for Gold Coast City. Again while alternatives were given what seemed ‘lip service’ it was evident to some of us that the tram was ‘favoured’.
When question time arrived, at the end of his presentation, I asked whether any other solution was being actively considered or was the tram a fait- accompli. I recall him being a little irritated that I should ask such a confronting question. He finished by stating that “all options were being actively considered”.
Months later, an official announcement was made.
Gold Coast city was to have a 'state of the art', 'world-class' light rail system that would ‘benefit all Gold Coasters”. And yes while there would be 'some disruption" to our day-to-day lives during construction, these disruptions would be minimal and inconsequential. 
So, what happened next?
Almost immediately, Gold Coasters living in the North/central part of the Gold Coast experienced massive disruption to their day-to-day lives. Many roads were blocked, in some instances for years, some for months and certainly some forever. Many crossroads (shortcuts) became blocked to through traffic. Small and medium businesses of all types were severely damaged or totally destroyed, because of limited access. Many lives and dreams were ruined, jobs lost and parts of Southport and Surfers Paradise have never recovered. The Tram had effectively cut a huge swathe through the many retail centres!
Throughout and since, I have noticed there has been a massive increase in development projects near and along the tram tracks, almost all include extra/ new shops, while there has been very little New Business Activity to support all these new developments being built, not to mention the existing empty shops.
What followed?
As a Gold Coaster (resident of over 50 years), I have been truly astonished at the level of unit development along the tram precinct, since.
What I have noticed is:
- Definitely, a windfall for those fortunate property owners in that precinct.
- Definitely, a great opportunity for developers to do their ‘thing’ building massive unit developments, usually accompanied by commercial annexes.
- Definitely, a windfall for our local council in terms of multiple, rateable properties where once a single property stood
- Definitely Zero improvements to off-street parking, and the resulting cluttered streets surrounding these developments, new and old.
"After every BOOM, there has always followed a BUST!"
When supply inevitably reaches saturation, that inevitable ‘tipping point’ where there is insufficient demand, to match supply there will be an inevitable bust. Many units will remain unsold, and exactly what impact that will have on those people who have bought units (many ‘off the plan’) in these projects, one can only guess?
Inevitably some builders and Developers will also go bust, and then there’ll be a different boom, this time for ‘liquidators’ and ‘receivers’. But the tram will continue regardless because it is subsidised by the public purse.
And naturally, this will have a major impact on the overall value of units that have already been purchased, by investors, residents and speculators. "What of the remaining unsold units" I hear you ask? Do the words "FIRE SALE" come to mind?
What next?
Part 2 will follow next week