Glenn Lamont, Head of Advisory - MacroPlan writes: Urban renewal is dominating the headlines as local and international investors scramble to make the most of planning and legislative changes, opening the door for major development in many of Australia’s largest cities.
Areas such as Fishermans Bend in Melbourne, the Riverbank Precinct in Adelaide, Elizabeth Quay on Perth’s waterfront and the Gold Coast’s Broadwater and the Spit are just a few big ticket projects attracting local and international investor interest.
MacroPlan is playing an important advisory role to State and Local Governments as well as the private sector in relation to these and other projects nationally. An outline of these projects is provided below:
Fishermans Bend Urban Renewal Area
The Victorian State Government has nominated approximately 244 hectares of land located at Fishermans Bend in Melbourne Victoria as an urban renewal area. Fishermans Bend Urban Renewal Area (FBURA) has been declared a site of State significance and rezoned as part of an expanded Capital City Zone (CCZ). The rezoning expands the CCZ by more than 50 per cent and has the potential to generate significant new business investment and employment and generate new housing supply. Places Victoria engaged MacroPlan to prepare a real estate market assessment for FBURA as part of a framework plan for the area. The area has unique potential to provide well-appointed new commercial office accommodation, new retail shops and a vibrant active destination for workers, families, young people and older Australians.
Riverbank Precinct Adelaide
The redevelopment of Adelaide’s Riverbank precinct will involve a $394 million funding program for the expansion of the Convention Centre, improved pedestrian accessibility and a new pedestrian bridge to link the redeveloped Adelaide Oval with the southern side of the Riverbank Precinct. The Riverbank Precinct is one of the city’s largest and most significant urban renewal initiatives and presents a unique opportunity to realise the potential of the significant government investment in areas such as the Adelaide Oval and Convention Centre.
Renewal SA engaged MacroPlan to prepare a long term development strategy for the Riverbank Precinct to unlock new opportunities for investment and economic development, tourism and employment, aligning with key elements in South Australia’s Strategic Plan.
Elizabeth Quay Perth Water Front
Elizabeth Quay (formerly Perth Waterfront) is a $2.6 billion project is a bold plan to revitalise central Perth by redirecting the city's focus to the Swan River. Elizabeth Quay covers nearly 10 hectares of prime riverfront land that will create a 2.7 hectare waterfront precinct featuring a split level promenade, shops, cafes, restaurants and other exciting entertainment venues.
MacroPlan was engaged by a major investor/developer to explore the feasibility of major mixed use project comprising inner-city residential options as well as much-needed hotel and short-stay accommodation, and significant additional commercial space.
If you would like more information on MacroPlan's involvement with these projects please contact Glenn Lamont - Head of Advisory on 03 9600 0500 or email email@example.com.