Macroplan was engaged by Plenary Group to support a Request for Proposal (RFP) submission as a development partner for the La Trobe University (LTU) “University City of the Future” (the Project). Macroplan prepared a real estate assessment addressing the current and forecast demand, supply and market needs for various potential uses to be located within the Town Centre Precinct of the LTU Bundoora Campus. The assessment tested various uses including residential, retirement living, commercial office / enterprise, retail / entertainment, childcare and short-stay accommodation under two scenarios namely Trend Growth Scenario and Market-led Scenario, and estimated the potential development sizing and indicative development timing for each use under both scenarios.
The assessment supported a more outward looking vision for universities that provide places for the whole community, families and older people to live, work, play and learn, as well as providing advice on tenure options, likely residual land value and lease terms. The assessment also provided inputs for masterplan and design works and the overall RFP submission. In 2022, LTU has appointed Plenary as its preferred master development partner for the $5 billion redevelopment of the Bundoora Campus.
