Green Our City Action Plan
Economic Feasibility Analysis
HillPDA was subcontracted by Arup to analyse the economic feasibility of proposed green infrastructure planning controls in the City of Melbourne. HillPDA reviewed the economic feasibility of four hypothetical case studies across the municipality. HillPDA’s role in the project included collaboration with OCULUS, Junglefy and Arup to test impacts of costs specific to GOCAP elements.
Outcome
Three scenarios were tested for four development sites to determine the residual land value and the price premium required to return residual land value. Feasibility testing indicated that price premiums required to offset GOCAP initiatives ranged from 2 to 5%, and market research indicated that this could generally be achieved in the Melbourne subregional market. HillPDA’s findings built new knowledge about how the GOCAP initiatives would impact certain development types and sizes differently.
Services:
- Residential market research
- Commercial and retail market research
- Feasibility assessment
- Green infrastructure
Client: Arup for City of Melbourne
Project date: 2019
For more information, contact Alex Hrelja, Principal