Chester Hill and Villawood East
Business Case for the urban renewal
HillPDA completed two business cases for the urban renewal of Chester Hill and Villawood East precincts.This included a comprehensive review of the residential, retail and commercial property market sectors, financial and economic appraisal and implementation strategy.
Our value add
As part of the project HillPDA consulted with Community Housing Providers and the Benevolent Society to inform an assessment of the right model for the delivery of affordable housing and seniors living accommodation that meets the future needs of the community.
We were also able to quantify some of the social benefits of social housing renewal and mixed tenure estates including reduced crime rates, improvements in transport sustainability, reduced stigmatisation (improvement in land values) and other impacts.
Outcome
Two comprehensive business cases were prepared. The studies were undertaken before the market was ready to meet the costs. The financial returns weren’t sufficient at the time but the sites were included in the Communities Plus program not long after when the market had strengthened.
Services:
- Market appraisal
- Financial appraisal
- Economic appraisal (cost benefit analysis)
- Risk assessment
- Stakeholder consultation
- Implementation strategy
- Business case documentation
Client: NSW Land and Housing Corporation
Project date: Feb 2011 – Apr 2013
For more information, contact Adrian Hack, Principal