Maribyrnong Defence Site

HillPDA was commissioned to provide development feasibility advice for the Maribyrnong Defence Site, specifically to test three indicative concepts for the site in terms of feasibility and land value.

The work that was undertaken included advice on likely development staging, market research, preparation of feasibility models using Estate Master and testing of options that include scenarios of development yield and mix, site remediation costs, affordable housing and development contributions.

The project provided advice on possible issues and options from a development perspective.

Outcome

Using a bespoke financial model HillPDA tested numerous development options with varying density and land use mix. HillPDA was able to provide qualitative feedback regarding:

• Each options financial strengths and weaknesses
• Affordable housing land allocation and floor space bonuses impacting the viability of each option
• Ensuring other project interdependencies such as remediation and cost were factored into the masterplan
• How staging certain project components assist in ensuring a viable development.

This project is currently in the community consultation phase. It is expected HillPDA will remain on this project until business case approval.

Services:

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

Client: Victorian Planning Authority
Project date: 2018 – ongoing

For more information, contact Alex Hrelja, Principal