August 22, 2012
A project involving a building as visible as this was always going to draw a lot of attention, and of course a lot of opinions! However everyone’s common ground has always been – despite its size, the existing building is far from attractive, deteriorating badly, and iconic for all the wrong reasons. The question is what is a viable and sustainable way to do that? We studied two options. The first, incremental improvements to the building over time, done at the rate at which the body corporate could raise the funds. This would necessarily result in a piecemeal job. The second was a master plan approach, via which we could deal with all issues once, quickly, sustainably, and cohesively. This would require financing through funds raised from owners and funds raised through the sale of some new assets achieved through a modest increase in floor space on site that doesn’t pose a significant impact on anyone.
The master plan option is clearly the best, and the one capable of attaining best results for everyone involved. And, we’re pleased to say, the one approved by the Joint Regional Planning Panel (The State-appointed panel for determining Development Applications over $20mil).
Common sense prevailed!
Looking forward to construction!