Property Council to fund three new projects

DELIVERING results that improve the business environment for the property community continues to be the Property Council’s key objective.

Following a very successful financial year, the Property Council will fund three new projects aimed at reforming and shaping the WA business environment for the advantage of property owners and managers – and, ultimately, the general community.

The following provides a snapshot of each of the projects. As always, extensive member consultation will be sought as part of the development of each project.

1. Economic Profile of Perth City

This project will be undertaken as a joint venture with the City of Perth.

It aims to develop a base of research and information to support the Property Council’s contention that Perth city is one of WA’s most significant economic and employment assets.

The project will provide government with a guide to the nature, size and importance of the central city economy with particular reference to establishing the value of the capital city to the economic well-being of WA.

A state’s capital city is an important brand name. This is why planning for the economic wellbeing of Perth is essential for the future growth and viability of WA as a whole.

It is also intended to provide the recently established Capital City Co-ordinating Committee with a significant economic argument to compete for government development funds.

Finally, the project will continue the process, initiated by the Property Council, for reform in terms of public policy and funds devoted to capital city requirements.

2. Local Government Reform – A New Planning Process

The local government reform project will involve the preparation of a management and administrative model capable of delivering a streamlined planning and development approvals process for WA.

As a result of this project, it is intended to establish a new administration responsible for planning and development approvals for major projects.

The project will also aim to provide a streamlined, best practice and responsive planning process and provide significant reduction in the approval process costs for major developments.

Major developments capable of delivering significant economic benefits to the property industry and the community in general are often frustrated, and sometimes killed, by the incapacity of many local government jurisdictions to deal with large, complex projects.

3. Heritage Reform – Unlocking the Value

The final project will involve preparing a document describing the impact heritage issues have on property investment. This should lead to an understanding by owners and developers of a best practice strategy for obtaining the most value for investors and by government for achieving the most value for the broader community.

Heritage issues have already been a major thorn in the side of many Perth developers.

Many development proposals for the Perth CBD have been stymied by the Heritage Council of WA. It even appears planning bodies have to bow to the wishes of the Heritage Council.

The project will develop a simple and effective ‘road map’ for property owners and developers on heritage legislation, together with a set of best practice reform recommendations on heritage matters.

It will provide the best strategy for owners and developers to unlock the real value of a heritage asset.

Heritage properties provide benefits to the broader community and the surrounding built environment – real and potential.

Owners and developers of those properties can be faced with complex and onerous regulation inhibiting them from realising the reward from providing that public benefit and the real investment value of the property.

This project proposes to research all issues relating to heritage regulation and its impact on property investment.

Further information may be obtained from Joe Lenzo or Anthony Shields on (08) 9321 1156.

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