Fishermans Bend Urban Renewal Area

HillPDA was commissioned by Aurecon as a sub-consultant to provide property economics and development projections advice for a business case, following on from the release of the final Fishermans Bend Framework by the state government. The work of HillPDA included assessing site and property conditions and trends, analysis of demand and likely future development scenarios and preparation of a range of site feasibility studies to inform viable development concepts and policy settings.

The aims of the project were:

• To test at a high-level development viability of a sample of development sites in the Study Area so as to: inform possible development projections scenarios for the Study Area; and to test the potential impact of a range of development contribution levy options on development viability
• To identify a range of potential future development scenarios for the study area based on: implementation of the Fishermans Bend Framework (September 2018), which includes delivery of transport infrastructure projects and amenity upgrades; and business as usual scenario, where existing transport and amenity conditions prevail and existing development patterns continue into the future
• To test the impacts of target affordable housing provision across the precincts, and provide an evaluation of social housing uplift scheme.

Outcome

HillPDA calclulated potential impacts to future development of key assumptions, and provided recommendations for ways to promote development viability. HillPDA tested a range of levies including affordable housing cash contributions. Options for timing of levies were provided to allow for market absorbtion.

Services:

• Residential market research
• Commercial and retail market research
• Feasibility assessment
• Affordable housing contribution

Client: Aurecon for Fishermans Bend Taskforce
Project date: 2018

For more information, contact Alex Hrelja, Principal