NAVIRE was engaged as the corporation’s principal property advisors charged with overseeing the master planning and integrated remediation planning for the high-profile redevelopment of the 8.6ha Macquarie Point urban renewal site that borders the port of Hobart. One of the main challenges of the site is the significant contamination issues due to its previous use for rail freight and road transport operations.
The key objective of this engagement was to assist the corporation get the site market ready for development in the most cost effective and time efficient manner.
The key responsibilities for this project include:
- Working with the corporation’s environmental advisors to understand the contamination landscape and possible remediation methodologies;
- Engaging and managing sub-consultants (architecture, urban design, landscape design, geotechnical);
- Undertaking market analysis to understand beneficial land uses for the site;
- Outline potential delivery options for the corporation and the likely financial return to the corporation to inform land use concepts to provide a foundation for the master plan ;
- Working with design and infrastructure consultants to formulate master plan options and understand the likely development costs associated with the options;
- Development of the financial model to accompany the master plan options; and
- Engagement with the development community on partnering options with the corporation for the remediation and development of the site.
Where it’s at
The master plan for the site was finalised and launched on June 16, 2015 by the Minister for State Growth. The City of Hobart provided its approval to the necessary Sullivans Cove Planning Scheme (PSA) amendment in October of 2015 and an EOI/RFP process for the first developments on the site was commenced in December 2015 with EOI’s received in March 2016.
Concurrent with the EOI/RFP Process, the Tasmanian Planning Commission undertook its process in relation to the PSA and in November 2016 reached a decision on the PSA regarding third party approvals which effectively made private development on the site commercially unviable.