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The Future of Newcastle – Thanks to GPT

by Marquette Turner

in Money & Business, News & Views, Real Estate Radar, Wise Guy

After years (at least 20 – maybe even 30) the money to revitalize the city of Newcastle is on the way. After the Newcastle Earthquake in 1989 there were as expected – losers and winners. Hamilton did well although the movement of shops into shopping malls outside the city in the suburbs didn’t assist the inner city Newcastle area.

With a mostly Liberal Federal Government, a completely inept Labor State Government and a Council that seems to deliberate and deliver nothing, the last ten years have achieved nothing for Newcastle. It’s exciting to see that private enterprise has come to the party with enormous vision and opportunity for the “forgotten city”.

The GPT Group (who also own Charlestown Square) is putting forward a sensational proposal to revitalize the City and plan to commit $650 million to the project. Like with all investments of this magnitude by locally based companies there are parts of the proposal which will not be perfect for everyone although GPT deserve the total support of everyone in the community.

When a corporation shows such confidence in a community like Newcastle (now the seventh largest city in Australia behind The Gold Coast) it should be embraced. GPT will assist Newcastle to move forward and repair the damage and neglect of the past with a vision for the future.

I hope the dysfunctional state government offers to pay for a high speed train link to Sydney to give our Newcastle – the beachside and harbor city, the best chance possible of growth. Regardless let’s hope for Kevin’s sake that the Governor sacks the NSW Government (Better now than risk it at the Federal election in 2010).

Michael Marquette

FYI: See more articles on Newcastle; New South Wales; Luxury Homes

More information: www.newcbd.gpt.com.au

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