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Property Council of Australia Places Victoria A New Direction Presentation 4 December 2012.
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Property Council of Australia
Places Victoria – A New Direction
4 December 2012
PLACES VICTORIA KNOWS ITS PLACE
2 2
Purpose of today
• Recognition of where Places Victoria was
• Clarification of where Places Victoria should and will be
g
• What we are doing about it
• What has already changed and will now change
need want,
• Who we need, and want to work together with us
• What all this means for our primary stakeholders
– Private sector
– People of Victoria
– Victorian Government
3
The truth is
• We can and do achieve great outcomes, have some great people
and have enormous capabilities and IP
• There is a strong need for a peak urban renewal delivery agency f
Th i t df k b l d li for
Victoria that can straddle the fine line of delivering urban renewal on
a commercial basis, whilst carrying out non-commercial government
functions
• But, I do accept that we became weighed down by
Bureaucracy and processes
– B d
– Non-optimal hierarchy and structure
– Being insufficiently responsive to changes to government,
organisational best practice, new Board’s desired direction, economic
conditions and the changing needs of our community
y g g g private
– Trying to do too much ourselves vs doing it together with the p
sector and other government agencies, and not doing it well enough
• We have to, and will, get better – so…
4
First up
• Is this going to be more of the same old, same old?
• Absolutely not!
– We’ve well and truly listened to all of our stakeholder groups
– We’ve clarified our role with our government stakeholders, who are fully
behind us and actively supporting us
We ki together with our Government colleagues, to finalise a
– W are working t th ith G t ll t fi li
robust strategy and structure that can efficiently and effectively, deliver
our mandates
– We’ve worked on who can help or join us, to achieve our goals, and
the private sector is our focus
5
90 days
• The Board has spent the last 90 days listening, learning and
collaborating to put in place an organisation that will deliver
the Government’s vision of great urban renewal to the people
and,
of Victoria and to engage in a very deliberate and business
like manner with the private sector
f
• This was done with the support and active engagement of our
CEO, Places Victoria management and in particular its
Leadership Team, the Minister and his team, DPCD and the
Treasurer and his team
6
90 days
• We also actively engaged with many developers and builders
to understand how you consider it can work better, and we’ve
received great input
• Have we changed the world? That takes more than 90 days,
but we are at the starting gate, we can see our track forward
d d to t t
and are ready t start a new era
• But do not think that means we will be ripe to be taken
p
advantage of – you want us to be business-like, and it will be
so
7
Urban Renewal Authority Victoria Act
Section 1
Purpose
The main purpose of this Act is to establish the Urban Renewal
Authority Victoria:
a) to carry out or manage or co-ordinate the carrying out of urban renewal
j t
projects;
b) to contribute to the implementation of government urban planning and
development policies;
c) to undertake declared projects; and
d) to complete the development of the docklands area
8
Urban Renewal Authority Victoria Act
Section 7
Functions
1 The functions of the Authority are:
a. to purchase, consolidate, take on transfer or otherwise acquire land in metropolitan and regional
areas for development for urban purposes;
b. to carry out or manage or co-ordinate the carrying out of urban renewal projects;
c. if requested to do so by the Minister, to carry out development of land alone or in partnership or to
enter into arrangements or agreements for the development of land;
d. to promote best practice in urban and community design and development in relation to the urban
renewal projects, having regard to links to transport services and innovations in sustainable
development;
e. to ensure the urban renewal and development projects are carried out in accordance with government
urban development policies and strategies;
f. to promote housing affordability and housing diversity in relation to the urban renewal projects;
g. Minister
g if requested to do so by the Minister, to provide consultancy services in relation to the development of
land within Victoria;
h. to undertake and manage declared projects on behalf of the Crown;
i. any other functions conferred on the Authority by this Act;
j. the functions conferred on the Authority by the Docklands Act 1991;and
k. any functions conferred on the Authority by any other Act.
2 The functions of the Authority under this Act are to be carried out on a commercial basis
9 9
Urban Renewal Authority Victoria Act
Section 8
Powers of the Authority
1 The Authority may
a. purchase, take on transfer or otherwise acquire or dispose of real or personal property,
and may dispose of any such property acquired by it;
b.
b contracts, agreements,
enter into contracts agreements leases and licences for the carrying out of its
functions; and
c. act as agent of another person.
2 In addition to the powers in subsection 1, the Authority has:
a. the powers conferred on the Authority by the Docklands Act 1991; and
b. the power to do all things necessary or convenient to be done for or in connection with,
incidental to, the f f it f ti
or as i id t l t th performance of its functions
10 10
Urban Renewal Authority Victoria Act
Section 9
Authority subject to the direction and control of the Minister
1. The Authority is subject to the general direction and control of the
Minister
2 Th Authority is subject t any specific di ti given t it b th
2. The A th it i bj t to ifi direction i to by the
Minister with the approval of the Treasurer
3. An agreement or arrangement or contract entered into under this Act in
contravention of subsection (2) is not void only because of that
contravention
4. Without limiting subsection ( ) or ( ) a direction under subsection ( )
g (1) (2), (1)
or (2) may relate to a specific urban renewal project
11 11
Urban Renewal Authority Victoria Act
Section 10
Non-commercial f
N ti
i l functions
1 Despite section 7(2), the Minister, with the approval of the Treasurer,
may direct the board:
y
a. to perform certain functions that the Minister considers to be in the public
interest but may cause the Authority to suffer financial detriment; or
b. to cease to perform functions of a kind referred to in p g p ( ) or
p paragraph (a);
c. to cease to perform certain functions that the Minister considers not to be in
the public interest
2 The board must comply with a direction given under subsection (1)
3 The reference in this section to suffering financial detriment includes a
reference to incurring net costs that are greater than would have been
incurred if the direction were not complied with
12 12
Vision and mission
Vision
Places Victoria facilitates urban renewal, enhancing the liveability and resilience of communities throughout
Victoria by delivering great places to live, work and visit.
Mission
The key elements in achieving this vision are:
Placemaking - delivering authentic places which attract and inspire diverse groups of people
Private sector investment facilitation - overcoming market impediments and facilitation investment and
g p
partnership opportunities
Strategic future planning - establishing a framework for implementing a long term vision for urban outcomes,
supported by aligned physical and social infrastructure programs
Finance - operating in a financially sustainable manner, applying rigorous commercial discipline and delivering
best value for public funds
Sustainability and affordability - delivering social, economic and environmental outcomes and responding to
the needs of a diversity of households
y
Social and community - actively engaging with communities and optimising social and economic
opportunities
Design and leadership - delivering efficient forms of development and demonstrating world class urban
outcomes
Best practice - demonstrating and promoting industry leadership
Employer - operating as an employer of choice
13
What does that mean we will do?
• Breathe life into dormant or under-utilised land to create great
live,
places to live work and play
• Create a portfolio of exceptional projects, aligned to our urban
renewal objectives
• Provide a pipeline of development opportunities for industry
partners
• Trail blaze innovations in the development industry
• Cut red tape and break down barriers to development
• Be a commercially focussed, efficient and self-sustaining
y , g
organisation
14
How will we do that, and why?
• Maintain, and improve where we can, Melbourne’s liveability
as our city grows
• Places Victoria will drive this process and seek to overcome
p
market failures
• We will need to have a portfolio of p
p projects to cross-
profitable p j
subsidise initiatives that the private sector would not take up,
but which are needed for an integrated approach to urban
renewal
• This will necessarily involve an element of competition to fill in
the i th k t b t ill do together with th
th gaps in the market, but we will d it t th ith the
private sector
15
Not US, not THEM and US, BUT… US and US
Other
Government
Departments and
Agencies
World Class
ld Cl Places Victoria
and its Board
Urban
Renewal
For
Victorians
Private Sector and
its A i ti
it Associations
16
Precinct Urban Renewal
We know our Place
(PUR)
Docklands
Fishermans Bend
Neighbourhood
Wodonga
Urban Renewal (NUR)
Urban Renewal (NUR)
Dandenong
g
Coburg
Highett Greenfields
Geelong
(GBU)
Footscray
17 17
Our place
CEO
Acting –
• Acting – Simon Wilson
• Search commences
COO
Peter Armstrong
• Peter Armstrong
• Commenced
CFO
• Paul Healy
• Starts January 2013
Design & GBU Regional &
PUR NUR
Placemaking g Sebastian Business Dev
Simon Wilson
Si Wil G A t i di
Greg Antoniadis
Malcolm Snow Catalfamo Nick Foa
18
Simon Wilson
Si Wil
General Manager
Acting CEO
( )
Precinct Urban Renewal (PUR)
Business Unit
19
What we do
The Precincts Urban Renewal (PUR) Business Unit facilitates the planning and
delivery of large scale, multi-staged, strategically significant urban renewal projects
across Victoria
Government s
The activities of PUR are closely linked to the Government’s overarching
Metropolitan Planning Strategy, Regional Growth Plans and associated strategies
concerning Victoria’s economic, social and environmental performance
PUR is focussed on facilitating urban renewal in precincts that
• Are identified through Government policy as being of particular strategic
importance to Victoria’s long term sustainability, prosperity and growth
• Are large scale, often with long development timeframes, substantial upfront
investment requirements and longer term triple bottom line paybacks and
benefits
• Require upfront Pl
R i f t Places Vi t i i
Victoria involvement to de-risk b f
l ki i t
t t d i k before seeking private
sector involvement
20
Our approach
PUR works to deliver the Government’s major urban renewal initiatives by
facilitating all aspects of project planning and delivery, including
• Development facilitation
• Business case development
• Masterplanning;
• Feasibility assessment
y
• Investment attraction
• Project procurement, funding and delivery
Our strategy includes
• Delivering an ongoing program of precinct scale urban renewal in strategic
locations to support policy objectives
• Applying a different operating model for projects where the Government is a
major land owner and has the opportunity to derive direct project revenues, and
projects where Government is not a major land owner and the opportunities
for direct project revenues are limited
• Commencing strategic planning and due diligence work on new projects
every 3 – 5 years, to ensure delivery of a consistent pipeline of urban renewal
activity, triple bottom line benefits and direct financial revenues to Government
21
Project portfolio
• PUR is involved in varying capacities across an existing project
tf li i i Docklands, Fishermans Bend, Revitalisation
portfolio comprising D kl d Fi h B d R it li ti
of Central Dandenong, Wodonga, Mildura Riverfront and to a
lesser extent the Maribyrnong Defence Site
• PUR has also identified a number of aspirational precinct urban
renewal opportunities where it might become involved in the
future, including but not limited to
– Ballarat West/Ballarat Station Precinct
– Mildura
– Monash-Clayton corridor
– Other strategic development precincts where Government is a
i ifi t f l land
significant owner of surplus l d
22
Partnership approach
PUR adopts a partnership approach to precinct urban renewal. We will work to
• Provide a centralised service for facilitating the delivery of precinct urban
renewal, including bid management, planning, feasibility, stakeholder
management, procurement a d infrastructure de e y
a age e t, p ocu e e t and ast uctu e delivery
• Identify the commercial barriers to private sector delivery of large scale urban
renewal and the most effective ways for government to address those barriers
policies
through targeted policies, programs and investment
• Provide a whole of government approach to implementing government’s
most substantial urban renewal initiatives, in partnership with the private sector
(including through th staged release of d
(i l di th h the t d l f development sites and d li
l t it d delivery of
f
essential physical and community infrastructure)
23
Opportunities for you
We have identified a number of opportunities that will allow us to work better and
more effectively in facilitating precinct urban renewal. We will
• Identify feasible precinct project opportunities within Victoria and seek the
p y
involvement of the private sector in the delivery of the same
• Leverage off existing Government and developer networks to facilitate more
efficient development outcomes
• Unlock commercial barriers to facilitate private sector investment in precinct
urban renewal
• Seek to simplify regulatory frameworks for precinct projects, in our early
stages and when progressing to private sector development
24
Greg Antoniadis
G A t i di
General Manager
Neighbourhood Urban Renewal (NUR)
Business Unit
25
What we do
g ( ) p p
The Neighbourhood Urban Renewal (NUR) Business Unit’s purpose is to facilitate
urban renewal in established neighbourhoods in Melbourne and regional Victoria.
We need to house more people in these areas
NUR is focused on facilitating urban renewal in a manner which
• Is consistent with Government planning and associated policies
Optimises intensity, diversity and innovation in the delivery of housing and
• Optimises intensity diversity and innovation in the delivery of housing and
workplaces in partnership with the private sector
• Leverages off new and existing infrastructure
• Is in accordance with community aspirations and needs
26
Skills and outcomes
Skills
Our staff will undertake development assessments, town planning,
decontamination, design and placemaking, community consultation and
d i i d i d l ki i l i d
development delivery
Outcomes
The outcomes being sought are to
‐ Improve existing land uses and values
Achieve desired urban development policy objectives
‐ Achieve desired urban development policy objectives
‐ Address market failure or shortfalls in urban development
‐ Address social, economic or cultural issues through urban form
Example: The Nicholson
An award winning project, delivering 199 apartments including 58 Nation Building
and 31 NRAS affordable rental apartments, using modular construction, and
reactivating the established suburb of Coburg
27
28
Partnering
(with S G A h i )
( i h State Government Authority)
Current Project: LOGIS
• In partnership with Melbourne Water, we are delivering a world class master
planned eco‐industrial estate that is setting a new benchmark for quality and
sustainability
• Strategically located in Dandenong South, with easy access to Eastlink, the project
g y g y p j
has set a new benchmark for future industrial development in Australia
• The project s sustainability is reflected in initiatives such as Water Sensitive Urban
The project’s sustainability is reflected in initiatives such as Water Sensitive Urban
Design, stormwater management, rehabilitation of the adjoining Dandenong
Creek, integrated bike paths and low energy street lighting
• The project incorporates a range of community infrastructure , with provision for
open space. Subject to re‐zoning, a service retail area is also proposed
29
Partnering
(with lG )
( i h Local Government)
Proposed Project: Montgomery Street
• Places Victoria, through the NUR business unit, is in the process of forming a
partnership with Manningham City Council, aiming to deliver high quality
residential and community uses in Doncaster East on council land
• Building on the structure plan objectives for the area, a staged redevelopment of
the site could comprise a new purpose built pre‐school, new public open space
th it ld i b ilt h l bli
and streetscape improvement and 54 one, two and three bedroom apartments
• Finalising the requisite approvals is a priority so we can leverage it out to other
Finalising the requisite approvals is a priority, so we can leverage it out to other
councils
30
A new focus
Places
enewal for the
ria
r Victoria
people of Victor
Government
land Dividends
e
Urban re
Private
Sector
• “Access” surplus government land with appropriate staging of capital
outlays for land
• Places Victoria prepares site to be ready for development
• Private sector to develop and deliver to the market
31
Opportunities for you
• Places Victoria is restructuring with a very clear and strong focus on market
Places Victoria is restructuring with a very clear and strong focus on market
facilitation and will target delivering a pipeline of surplus Government land sites
to the market, and to partner with the private sector to develop the sites in a
manner which balances both policy and profit making objectives
manner which balances both policy and profit making objectives
• NUR will pride itself and be measured on its ability to bring projects to the market
quicker than might otherwise occur
quicker than might otherwise occur
• NUR will be working closely with all tiers of Government to advocate the benefits
f b f ll d l h d d l
of urban infill and to streamline the processes required to deliver it
• We will embrace and operate with our Government, recognising other important
strategies being considered and implemented, such as the Metropolitan Planning
Strategy
32
Sebastian Catalfamo
General Manager
Greenfields Business Unit (GBU)
33
What we do
Greenfields business unit context and overview
• Traditionally Places Victoria has played an active role in the
Traditionally,
delivery of residential housing supply in the growth areas of
metropolitan Melbourne and regional Victoria
• The Greenfields Business Unit (GBU) currently includes a portfolio
of Greenfields projects and associated town centre developments
• In order for Places Victoria to focus on its urban renewal functions,
GBU is in the process of developing a clear plan around projects
which will be exited in an orderly manner, and projects which will
y , p j
continue through to completion
34
Our approach
Outcomes and Deliverables
• Clear signal to the market and other stakeholders of our intent to move
our focus away from the greenfields to urban renewal
• Management of existing obligations, including ongoing development and
undertakings in existing projects and participate in delivery of our
Greenfields assets
• Delivery of high quality town centres in conjunction with the private sector
e.g. Point Cook Town Centre
• Continue to work on existing projects with other land owners as project
partners where we bring development solutions to their land e.g.
Riverwalk
• Engaging with the private sector on strategic projects
35
Project portfolio
Places Victoria Land Holdings Non Places Victoria Land Holdings
Aspect to Stage 8 (Officer) Lakes Edge (Hamilton)
Aspect Stage 9 (Officer) Meridian (Dandenong)
Aurora to Sec D (Epping) Metro Village (Dandenong)
Aurora Sec E (Epping) Parkside Estate (Shepparton)
Aurora Town Centre (Epping) Parkside Gardens (Shepparton)
Cairnlea Riverwalk (Werribee)
Craigieburn Tower Hill (Swan Hill)
Jacksons Hill (Sunbury)
Lynbrook
Officer Residential NB: This is our portfolio, and does not
Officer Town Centre reflect any exit/continuation strategy
Roxburgh Park
Valley Lake (Keilor East)
36
Partnership approach
• We will keep developing those sites where we have existing
builder and customer relationships and as part of these projects
we will continue to pursue private sector investment as part of
their rollout
has i ti t hi to i t
• GBU h existing partnerships t assist government and nont d
government land owners to bring parcels to the market that would
not be ordinarily available for private sector participation. These
include:
– Riverwalk
– Regional projects (Lakes Edge, Hamilton, Tower Hill Swan Hill)
– Metro Village
p pipeline
• GBU will assist with development of urban renewal p p
projects as it transitions from Greenfields
37
Opportunities for you
• Places Victoria is in the process of considering a strategy which
would release land parcels to the market
• In addition, we will engage p
, participation by offering
g g private sector p p y g
appropriate non-contiguous superlots and town centre land
parcels to the Delivery Partner Panel, established earlier this year
which includes:
– Town Centres in Aurora, Officer and Riverwalk
– Medium Density Superlots in Aurora Section D and Riverwalk
– Future employment land at Officer
38
Nick Foa
General Manager
Business and Regional Development
39
What we do
• This team facilitates the development of a pipeline of urban
renewal projects across Victoria.
• The activities are focused on building sustainable business
relationships with land owners, developers, government and end
users and pursuing development opportunities in strategic
Regional Cities
• It will be focussed on:
– Facilitating urban renewal on Government, Local Government and not
f profit agency land
for fit l d
– Increasing development activity across Places Victoria projects
Creating i ll f l th t iti
– C ti commercially successful growth opportunities
40
Malcolm Snow
General Manager
Design & Placemaking
41
What we do
live,
• Making Victoria a great place to live work and play (and
develop!)
• Placemaking is pivotal to how we think and deliver our Urban
Renewal projects
Our Pl ki is focussed on strengthening existing place
• O Placemaking i f d t th i i ti l
qualities and unlocking value, both economically and socially
• Our commitment to Placemaking and good design will be
evidenced by “on the ground” results in the different contexts
we are working on
42
Project Afford
• Deliver projects with ‘Urban Intensity’ more affordably, by offering a different
housing product that will satisfy all Victorians, both owner/occupiers and
renters,
renters and particularly families
• Aim to offer combinations of one, two and three + bedroom dwellings, in
p j p
urban intense projects, more affordable than the comparable local
equivalent low intense product
• Project Afford will interrogate all cost elements of the development process
(land, finance, construction),
in delivering urban intense projects (land finance design and construction)
whilst maintaining the opportunity and necessity of a profit and risk margin,
to continue to drive business in the delivery of Victoria’s housing needs
• Need conventional thinking to be changed. It will require agreed changes to
codes, regulation and legislation
• Project Afford will be a collaboration driven and led by Places Victoria
43
Who we are going to do Urban Renewal with
• Maintain an independent, non-executive, advisory and governance
Board
• Can and will enter into joint ventures
Can d ill t t hi
• C and will create partnerships
• Can and will offer strategic and focussed consulting and advisory
i
services
• Can and will enter into reciprocal arrangements with other public
i
sector agencies
• We cannot do this on our own, and we are seeking cooperation
from all of our stakeholders to help us make PLACES VICTORIA
and YOU, successful
44
Urban Renewal Coalition Victoria
We will endeavour to make it more feasible for us to deliver
urban renewal, achieve affordable living and affordable housing,
create jobs, break down unproductive barriers and promote
efficient private sector investment and development
• Places Victoria
• Property Council of Australia - Victoria
• Urban Development Institute of Australia - Victoria
• Master Builders Association of Victoria
• Housing Industry Association - Victoria
45
Private sector
As we are to joint venture with private sector, we
• Will engage with you early in respect to listening to you about
your ideas
• Be open to where, with and how
• Seek appropriate sharing of effort, contribution, risk and
outcomes (financial and otherwise)
• Will behave more like private sector!
46
Delivering for government
• Urban renewal policy
• Exit greenfields and return proceeds to government
• Profitable and self sustaining agency
regulatory,
• Be a driver and enabler of regulatory legislative policy and
process reforms
47
Peer agencies
Build working relationships with:
– Growth Areas Authority
– Major Projects Victoria
48
Our future success together
• We accepted that we had to do it better, and we will – that is
our commitment to you
• Improve how we work within current environment
• Make it a two-way street
• Influence, and be litmus test, to policy amendments through
the Coalition
• Create strong working relationships by recognising each
others success
others’ objectives and need for success, and we will join
forces to “increase the pie”
49
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