Mayoral candidate Jamal Hakim’s vision to bring life back to Melbourne

Jamal Hakim says ‘Experience Improvement Districts’ will put Melbourne in the same league as world-class cities such as New York and London.

Melbourne at sunset on the Princes Bridge over the Yarra River. Picture: iStock

A $150m plan to bring Melbourne into line with flourishing districts in world-class cities such as New York and London will deliver boosts to commercial property values, business turnover, foot traffic and job figures, a lord mayoral candidate has promised voters.

Jamal Hakim, who is looking to oust Lord Mayor Nick Reece at the October Melbourne City Council election, told The Weekend Australian that Experience Improvement Districts (XIDs) hold the much-needed key to “turbocharge” Melbourne’s economy, business innovation and investment.

Mr Hakim was elected as a councillor in November 2020 and is running his campaign on delivering a flourishing economy.

His economic policy, developed by London-based City Squared Consulting, centres on XIDs, and builds on the model of geographically defined areas dubbed Business Improvement Districts.

BIDs allow businesses to collaborate to invest in projects to benefit their trading environment, and typically require them to pay a membership fee, which is then pooled to fund initiatives.

Existing BIDs include New York’s Times Square, with initiatives such as pedestrian zones, increased police presence and investment in marketing and public space maintenance, delivering a 50 per cent increase in commercial property values over 10 years.

Similarly in London’s West End, after the implementation of the BID model, which introduced measures such as better signage and promotional campaigns, a 30 per cent increase in business turnover was recorded.

In Melbourne, Team Hakim has pledged that XIDs will improve spaces for businesses, workers and visitors, with short-term initiatives including the targeting of day and night economies through reimagining office spaces and encouraging night markets and entertainment.

Melbourne lord mayoral candidate Jamal Hakim in Melbourne. Picture: Luis Enrique Ascui

The policy will cost $150m over five years, and would require collaboration between all levels of government and business.

In the longer term, the policy promises to target key future industries in sustainability, digital games, biotechnology and clean energy, and says XIDs can support the installation of green roofs, vertical gardens, and solar panels.

“Melbourne without its arts and experiences would just be Sydney,” Mr Hakim said.

“These BIDs have been done around the world thousands of times, it’s just about putting them in a Melbourne lens.

“It’s led by business for business, with the power and support of government.”

Docklands in Melbourne. Picture: Blair Hamish

The ambitious Mr Hakim also wants to lobby the Allan state Labor government to make reforms to its payroll and land tax structures.

He said Team Hakim is striving for a sliding payroll tax system that supports the transition of businesses from small to medium and proposes reductions in land tax for businesses that invest in XID initiatives.

“We’re going to be bold enough to bring in and champion this. There’s no time in Melbourne to be complacent,” Mr Hakim said.

“It will take about 18 months to set it up … it takes time, it needs legislative change from the state government as well. But look there’s an election coming up, so I think it will be a no-brainer for state government.”