Cr Mackay says

Toowong's proximity to prestigious institutions like the University of Queensland, the Regatta, and the R.E., excellent public and active transport options, a wide range of local amenities, restaurants, etc. make it an ideal location for people seeking housing opportunities.

I'm not exactly sure I'd categorise the RE (N.B.: get with the times Cr Mackay, it's one syllable now!) as a "prestigious institution". A very valid statement otherwise.