E. Community Hub
Creating and retaining value is at the heart of this proposal for the Community Hub of Ashfield. The economic value proposition in this project incentivises the delivery and maintenance of strong community and built environmental values for a period of up to 50 years. A build-to-rent financial model is proposed, whereby the existing landowner – Department of Communities – will retain all developed unit stock for long-term rental income. This challenges typical development models and their bias towards net profit, leading to decisions based entirely upon financial value over all other values.
The key innovation in this financial model is the inclusion of several Specialist Disability Accommodation units provided by the Department of Communities, yielding strong returns under the NDIS scheme after completion. This affords the project the confidence to increase the construction budget to adopt materials of higher quality, civic improvements and sustainability programs, while still achieving a high enough margin to ensure that loan repayments are met over a 25-year period.
Site info
Number of Dwellings: 22
Site Area: 4,658 m2 over 6 lots
Team
Geoffrey London and Nigel Bertram with Roscoe Power from Codev
Schemes
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