Pas capstone feasibility report jingyi feng 743171 by Jingyi Feng

J&M PROPERTY GROUP

26-28 Cumberland Street & 437-439 Lower Heidelberg Road & 25, 27, 29 & 31 Banksia St

DEVELOPMENT FEASIBILITY REPORT TUTE 2 - Group 4 Jingyi Feng (743171)

Zechun Zhang (743188)

Prepared for:

Property Analysis Studio University of Melbourne

Proposal issued:

20/10/2017

EXECUTIVE SUMMARY

Project address:

26-28 Cumberland Street & 437-439 Lower Heidelberg Road & 25, 27, 29 & 31 Banksia St

Site area: 6616 sqm

Zoning:

General residential 2 Zone

Development proposal:

3 story residential apartment (25 units) + 18 Terrace homes + 1 retail

Financial summary:

•Equity contribution: $7,182,614 •Total project value: $44,128,001 •Development profit: $8,319,518 •Development margin: 21.92% •Debt to value ratio: 70% •IRR: 23.31%

TABLE OF CONTENT

CONTENT EXECUTIVE SUMMARY

1. COMPANY VISION

2. SITE ANALYSIS

3. STATUTORY ANALYSIS

4. MARKET ANALYSIS

5. DEVELOPMENT PROPOSAL

6. MARKET STRATEGY

7. FINANCIAL FEASIBILITY

8. CONCLUSION & RECOMMENDATION

REFERENCES

APPENDIX

OUR STORY

J&M PROPERTY GROUP J&M Property Group is a family based company and has been actively engaged in the Melbourne property development field for more than 20 years. More than 200 development projects have been successfully accomplished. The company is notable for the provision of high quality products and livable community.

ABOUT US

OUR VISION ... J&M PROPERTY GROUP

J&M Property Group run on a not-for-profit basis which aiming to develop quality communal neighbourhood products for local buyers who requires a more sustainable living lifestyle. The company focuses on regional orientated development for specific customer group which guarantee the success opportunity of our projects.

We think CREATIVELY Driven by innovative concepts

We stand for SUSTAINABILITY Incorporate sustainable features

We do amazing PROJECTS

And we do it ON TIME

Superior quality building

Punctural construction

SITE ANALYSIS

SITE ANALYSIS 2.0 INTRODUCTION

The subject site is located at 26-28 Cumberland Street & 437-439 Lower Heidelberg Road & 25, 27, 29 & 31 Banksia St in Eaglemont, with approximately 6616 square metres land area. Close proximity to Burgundy Street, retail strip; accessibility to a range of amenities; public transport, hospital, primary and secondary schools ensure this propertyâ&#x20AC;&#x2122;s prescious locality and development potential. The site is in general residential zone 2 and falls under the City of Banyule. The Council has reviewed its 1999 Strategy to establish a 2012 Neighbourhood Character Strategy to set out the direction for the preferred future character of neighbourhoods(City of Banyule, 2017). Therefore, there are restrictions on the use of land such as the 40% site coverage ratio and there are statutory requirements regarding the Garden Suburban Character. The site analysis is done to determine the highest and best use that is suitable of the subject site and is to explore the site attributes to further analyse potential of the subject property.

SITE ANALYSIS

2.1 LOCATION The site is located in Eaglemont which is an established suburb wedged between Ivanhoe and Heidelberg. It is 10km northeast from the CBD, takes approx 25 minutes’ drive. Situated on the intersection of Banksia

Source: Google Map

St and Lower Heidelberg Rd, the site is bounded by retail precinct on the north side and greenery on the east side.

2.2 NEIGHBOURHOOD CHARACTER LOW DENSITY

LANDSCAPE

OPEN SPACE

Source: realestate.com.au

Eaglemont has been regarded as “quietly prestigious garden suburb”. The density of housing in the neighbourhood are relatively low and that most of the dwellings are 1-2 story. Trees and open spaces have been well retained providing a peaceful, natural living environment.

Source: Nearmap

2.3 PHYSICAL CHARACTERISTICS 2.3.1 SITE AREA

2.3.4 STREET FRONTAGE

In accordance with the title plan (Refer

The subject site has massive 71

to Appendix), the area of the subject

meters frontage on Banksia St and 79

site is 6616sqm.

meters on Lower Heidelberg Rd.

2.3.2 TOPOGRAPHY

2.3.5 CURRENT IMPROVEMENT

The site is slightly inclined to the South.

The site is currently occupied by 8

It could be considered as flat because

single dwellings.

there is little change in contour, which doesnâ&#x20AC;&#x2122;t bring constraints to design. 2.3.3 SHAPE The site is irregular in shape which would potentially affect the efficiency of using the site area.

Source: Google Map

Source: Nearmap

2.4 LINKAGES & AMENITIES

Retail School

2.4.1 ACCESSIBILITY

Medical

The site can be accessed through

Greenery

both Banksia St from the north,

Govern

Lower Heidelberg from the east and Cumberland St from the west. 2.4.2 TRANSPORTATION The site is very accessible to the CBD and all areas of Melbourne via established freeway and public transport. Eaglemont, Ivanhoe and Heidelberg Train Station are all within 2.5 kilometres. Regular bus services along Banksia Street, LowerHeidelberg Road and Burgundy Street. • Heidelberg Train Station - 800m • Eaglemont Train Station - 1.7km • Eastern Freeway (M3) - 3.8km

SITE ANALYSIS

2.4.1 RETAIL Access to shops and retails are incredibly convenient as the retail strips are on the opposite side of the street .

• Woolworths - 240m • Seven eleven - 550 m • Coles - 650 m • Warringal shopping center - 650m • Anytime fitness - 800m

2.4.2 MEDICAL One of the most important feature and selling point of our site is that it has proximity to plenty of hospitals and medical services as aged person would require those services in the surrounding neighbourhood.

• Dorevitch pathology - 260m • Chemist warehouse - 750m • Austin Hospital - 1.1km • Warringal Private hospital - 1.2km

SITE ANALYSIS

2.4.3 SCHOOL The neighbourhood has a range of facmous schools which are important feature for established families.

• St John’s Primary School - 400m • Our Lady of Mercy College - 450m • Heidelberg primary schools - 750m • Ivanhoe primary school - 2.3km • Ivanhoe girl’s grammar - 2.5km

2.4.4 GREENERY The subject site has proximity to plenty of parks and reserves. Bicycle tracks and Golf courses along Yarra River provides great recreational environment for aged population and family gathering. • Yarra Flats Park - 500m • Banksia Park - 1.3km • Warringal Parklands - 1.5km • Ivanhoe Golf Course - 2.5km • Wilson Reserve -3.6km • Bulleen Park - 4km • Freeway Golf Course - 5km

SITE ANALYSIS

2.5 DYNAMIC ATTRIBUTES FAVORABLE EXPOSURE • Close proximity to amenities • Significant rivers and diverse topography • High-quality vegetation and landscape • Extensive open spaces • Primarily low density residential use

FAVORABLE EXPOSURE • Noise coming from the road intersection • Entrance too close to intersection

2.6 LEGAL DESCRIPTION The site is comprised of 8 lots of land in titles listed below: 1. Certificate of Title Volume 10048 Folio 580, No. 26 Lot 1 on Plan TP087481D 2. Certificate of Title Volume 4625 Folio 931, No. 28 Lot 19 on Plan PS007860 3. Certificate of Title Volume 9117 Folio 932, No. 437 Lot 1 on Plan TP179570S 4. Certificate of Title Volume 9412 Folio 579, No. 439 Lot 1 on Plan TP120966W

SITE ANALYSIS

5. Certificate of Title Volume 5014 Folio 752, No. 25 Lot 2 on Title Plan No. 725277 6. Certificate of Title Volume 4926 Folio 139, No. 27 Lot 3 on Title Plan No. 725293 7. Certificate of Title Volume 4572 Folio 344, No. 29 Lot 4 on Title Plan No. 725285 8. Certificate of Title Volume 9552 Folio 437, No. 31 Lot 1 on Title Plan No. 168344 There are no easements or encumbrances of any kind that affect the site.

2.6 CONCLUSION From the analysis of the site, few key findings are uncovered. Firstly, the site is in a low density residential context with extensive landscape and open space which provides great aesthetic enjoyment. Secondly, although in an suburban context, the site has incredible close proximity to all range of services, amenities and public transport. In conclusion, this is a location that local buyers are actively looking to purchase property in because of not only the great locality, natural environment, but also the sustainable living lifestyle.

PLANNING ANALYSIS

STATUTORY ANALYSIS

3.1 ZONINGS The subject site is planned as General Residential Zone 2. According to Clause 32.08 (City of Banyule, 2017), the site is an incremental area and is subject to a 40% site coverage ratio. A minimum garden area of 35% is implemented for a lot that is sized above 650 sqm.

Source: Landchecker

According to Standard A3 (City of Banyule, 2017), as a corner site, the front street setback required is the same distance as the setback of the front wall of the existing building on the abutting allotment facing the front street or 9 metres, whichever is the lesser. In this case, with respect to the adjacent dwelling, the setback is approx 7 meters. The objective of the zoning is to encourage development that respects the neighbourhood character of the area and also provides diversity of housing types and housing growth particularly in locations offering good access to services and transport.

PLANNING ANALYSIS

3.2 OVERLAY The subject site is under Vegetation protection overlay and Environmental significance overlay (land.vic.gov.au).

VEGETATION PROTECTION

Source: Landchecker

The purpose is to protect areas of significant vegetation, preserve existing trees, regeneration of native vegetation etc. ENVIRONMENTAL SIGNIFICANCE The purpose is to identify areas where the development of land may be affected by environmental constraints and to ensure that development is compatible with identified environmental values.

3.3 STATE POLICY FRAMEWORK The site falls under the governance of City of Banyule. The State policy in planning schemes is to inform planning authorities and responsible authorities to take into account and administering certain aspect. As stated in Clause 12, planning should help to protect the environmental and landscape values in terms of protecting nature conservation, biodiversity, geological or landscape value (City of Banyule, 2017). In terms of residential development, the objective of State Policy Framework is to promote housing market that meets the community needs. Clause 16 has stated that housing diversity and sufficient infrastructure should be provided as well as access to services (City of Banyule, 2017).

PLANNING ANALYSIS BANYULE PLANNING SCHEME

3.4 MUNICIPAL STRATEGIC STATEMENT As shown in the Strategic Framewrok Plan, the subject site is planned as “Area of Environmental or Landscape significance”.

Source: Victorian State Government

The Municipal Strategic Framework within Banyule Planning Scheme sets out MUNICIPAL STRATEGIC STATEMENT - CLAUSE 21.02

PAGE 3 OF 3

the direction for Bnayule City Council’s decision making and land use planning. According to Clause 21.02, the City of Banyule has listed 5 key objectives and strategies in MSS which including cultural geritage (Clause 21.03), land use (Clause 21.04), natural environment(Clause 21.05), built environment (Clause 21.06), transport and infrastructure (Clause 21.07). (City of Banyule, 2017). The objective of this strategic statement is to create a community that offers quality lifestyles in an urban context but enhanced by the natural environment.

PLANNING ANALYSIS

3.5 LOCAL POLICY FRAMEWORK The Local Planning Policies (LPP) is a policy statement of intent that used to implement the Municipal Strategic Statement.The Banyule City Council has reviewed its 1999 Strategy to establish a 2012 Neighbourhood Character Strategy. According to the Neighbourhood Character Precincts Plan, the subject site is planned as Garden Suburban (GS). Therefore, under local planning policy framework, Clause 22.02 Residential Neighbourhood Character Policy has set out a few detailed guidelines to point the direction for the preferred future character of neighbourhoods which the subject site should comply with: • Designing new dwellings and

extensions in an architectural style sympathetic with existing dwellings in the precinct. • Maintaining the overall one or two

storey scale of dwellings within the GRZ2 • Designing site layouts (including

basements) with spacing around dwellings that allows for the retention of trees and the planting and future growth of trees to maturity.

Source: City of Banyule

• Protecting and enhancing spines of trees along neighbouring rear yards. • Ensuring basement ramps, carports and garages do not dominate the

streetscape. (Banyule Planning Scheme, Clause 22.02)

PLANNING ANALYSIS

3.6 AMENITY IMPACT Clause 55.04 specifically states the amenity impacts that new development should consider. The purpose of consideration of amenity impacts is to achieve residential development that respects the existing neighbourhood character and does not significantly affect the amenity of existing dwellings. Design guidelines regarding side and rear setback, overshadowing and overlooking etc. are listed in Clause 55.04. Refering to the figure below (City of Banyule, 2017)., the rear setback of the dwellings would be less than but close to 8m because the subject site has height limit of 11 meters.

Source: Banyule Planning Scheme Clause 55.04

PLANNING ANALYSIS

3.7 BUILDING ENVELOPE The subject site is to be developed into 3 storey terracehouse or low rise apartment block. The statutory requirements constraints the height limit of 11 meters, street setback of 7 meters, side and rear setback of 8 meters. To comply with that, the proposed building envelope are drawn as followed:

3.8 PLANNING CONCLUSIONS Based on the planning analysis, the City Council’s strategic approach is to maintain the low density living, preserve the trees and open space to provide a better living environment. The biggest constraint and challenge is the 40% site coverage ratio, which is extremely low and will significantly limit the design potential. To deal with that, a “garden concept” is introduced and that the left over space could be transformed into gardens, which fulfills the strategic policy of enhancing landscape. .

MARKET ANALYSIS

MARKET ANALYSIS 4.1 INTERNATIONAL ECONOMIC CONDITIONS & TRENDS Referring to the IP Global’s analysis (GLOBAL PROPERTY MARKET OUTLOOK, 2017), the knee-jerk reactions of 2016 seems to be passing and the influence of stock exchange market have long since bounced back following the shocks of the Brexit vote and US presidential election and there’s a strong sense of “business as usual”. The most recent IMF WEO update(2017) represents the broad consensus of explanation, 2017 & 2018 should be years of ‘modest growth’ especially in emerging market and developing economies. which directly gives business a positive outlook for new term development and investment. Growth projections for 2017 have also been revised upward for Germany, Japan, Spain, and the United Kingdom, mostly on account of a stronger-than-expected performance during the latter part of 2016. These upward revisions more than offset the downward revisions to the outlook for Italy and Korea. China as one typical asian economic entity is expected to give out a better performance on economy growth under Chinese government’s continued policy support (WEO UPDATE, 2017). All in all, economic activity in both advanced economies and EMDEs is forecast to accelerate in 2017–18, with global growth projected to be 3.4 percent and 3.6 percent, respectively. Furthermore, advanced economies are now projected to grow by 1.9 percent in 2017 and 2.0 percent in 2018 (WEO UPDATE, 2017).

MARKET ANALYSIS

4.2 AUSTRALIAN ECONOMIC CONDITIONS & TRENDS 4.2.1 ECONOMIC CONDITIONS In 2015â&#x20AC;&#x201C;16, Australia recorded its 25th year of continuous economic growth (Australian Industry Report 2016). It is stated that five significant sector contribute to the economic stability of Australia including Service, Mining, Construction, Agricultural and Manufacturing. The Services sector continues to dominate the economy with the largest share of both economic output and employment. Mining continues its transition from the investment to production phase, and export volumes are continuing to expand to record highs at the same time as commodity prices fall. Construction growth is up driven by residential construction, and partially offsetting the Construction decline in the mining States of Western Australia and Queensland (Australian Industry Report 2016). Finally, both Manufacturing and Agriculture are showing mixed performances. Manufacturing continues to contract in terms of employment and output but is growing in export values while Agriculture is showing positive employment growth but a significant contraction of output and declines in export values. Australiaâ&#x20AC;&#x2122;s continuous economic growth and low unemployment rate represent a strong economy. These positive achievements demonstrate that Australia is successfully transitioning away from the mining investment boom.

Source: Australian Industry Report

MARKET ANALYSIS

4.2.2 GROSS DOMESTIC PRODUCTS Economic growth is forecasted to reach 3% by 2018 which is significantly affected by declining resource sector investment. It will fade and gathering momentum outside the resource sector will support wage and employment growth, thus boosting consumer spending. At the same time, tightening labour and product markets are going to rise inflation up from current low levels. Referring to the diagram above, it can be seen that there is a signs of a pick-up in investment outside the resource sector. Service sector investment plays an increasing important role and property market keeps its high increase trans under resource allocation.

4.2.3 EMPLOYMENT RATE

Source: OECD

In addition, depending on the political and economic stability preference of global market, Australia keeps its popularity on immigration preference. Continuous increase population guarantee the fundamental demand of property and the stability of economy. Skilled immigration policy continuously contribute to the employment rate of Australia as the seasonally adjusted unemployment rate remained steady at 5.6 per cent and the labour force participation rate increased to 65.3 per cent (Australian Bureau of Statistics, 2017).

MARKET ANALYSIS

Source: OECD

4.3 VICTORIAN & MELBOURNE ECONOMIC OUTLOOK The population booming becomes the premium topic when discussing the economic condition of Victoria especially the capital city-Melbourne. When combined with a relatively high birth rate and still high numbers of overseas migrants, Melbourneâ&#x20AC;&#x2122;s population has grown by about 100,000 people a year for the past four years.

Source: The Age

MARKET ANALYSIS

That population growth has fuelled a property boom and strong growth in construction and finance, which now contribute to more than half the stateâ&#x20AC;&#x2122;s economic growth. Like the table below, it can be seen that after 2009 GFC, the economic growth per capital experiences a periodical adjustment and represents an overall increasing trend which represents a living standard growth especially in recent 2-3 years which people starts to pay more attention on population increasing speed.

Source: The Age

An Age analysis of Bureau of Statistics data 2016 shows income per person in Victoria rose just 0.8 per cent from mid-2008 until the end of the 2016 financial year (the most up-to-date annual figures). Australia as a whole grew more than 7 per cent. From the early 1990s recession until the global financial crisis, income per person in Victoria rose about 50 per cent.

MARKET ANALYSIS

Source: The Age

All in all, continuously increasing population provide a healthy environment for Victoriaâ&#x20AC;&#x2122;s economy growth. The demand on residence and investment guarantee the property market maintaining a persistent increasing trend. Except from the market side, the new first home grant and stamp duty saving policy released in 2017 are expected to guarantee the fundamental growth of the Australian Property market at the same time. Even though major banks in Australia started to control investment loan to both local and foreign investor and are expected to increase their policy rate towards the end of 2017, which increase consumer price inflation towards 2-3% target band, however based on the solid demand under population increase. The property market is still been positively expected between 2017 and 2018.

MARKET ANALYSIS

4.4 DEMOGRAPHICS 4.4.1 CATCHMENT AREA

IVANHOE

Source: ABS

IVANHOE EAST

HEIDELBERG

EAGLEMONT

ROSANNA

(RP Data, realestate.com.au) 4.4.2 AGE STRUCTURE According to Census Data (ABS, 2016), the dominant age group in Eaglemont is 55-64 yrs and the median age of is 44 yrs. Children aged 0 - 14 years made up 16.7% of the population and people aged 65 years and over made up 18.1% of the population. This indicates that the dominant demographic in Eaglemont are aged population and children, which would be considered as the main target buyer.

MARKET ANALYSIS

4.4.3 CULTURAL DIVERSITY

Source: Your Investment Property

Most of the residents in Eaglemont are original residents of Australia. There are migrants coming from Japan, UK in a rather small profile. This indicates that eaglemont is a local-based suburb and that our target customers are mainly local buyers rather than overseas investors.

4.4.4 HOUSEHOLD

Source: realestate.com.au

The main households in Eaglemont are older and established couples & families. Therefore, the project should be targeting families rather than single independence in terms of marketing. To comply with that, the units should be designed with bigger footprint.

MARKET ANALYSIS

4.4.5 INCOME LEVEL

According to ABS (2011), the median weekly personal income in Eaglemont is $829, the median monthly family income is $2505. According to RP data (2006), the income level of the residents in Eaglemont are 130K-180K and is significantly higher than the Banyule Council average. Both figures indicate that the purchasing power of the residents are strong and that they would potentially value high quality product and luxurious lifestyle rather than housing affordability.

4.4.6 OWNERSâ&#x20AC;&#x2122; OUTRIGHT

AWARDED PROJECTS OVER TIME

Source: Your Investment Property

Most of the residents purchase property instead of renting. This consists with the fact that the suburb has a relatively mature and rich profile. This also indicates that the residents prefers a settled living rather than drifted/flexible lifestyle.

MARKET ANALYSIS

4.5 SUMMARY OF LOCAL TRENDS 4.5.1 SUPPLY & DEMAND Referring to the table below, even though the house price has experienced a significant growth starting from 2014 till today. The marketing recorded listing amount does not vary a lot which only maintains a level around 50 units per months. Indeed, compared with overall Melbourne suburbs, this rate keeps a relatively low standard. This phenomenon can be referred back to the demographic analysis result as aged population occupies a large ratio in this locality. Thus the home changed frequency is largely affected as population aging become obvious.

Under such a low supply condition market, the recorded demand level referring to the visiting number per property in Eaglemont represents an extremely high standard being 2522 compared with average 813 visitors per unit in Vic Suburbs.

Source: realestate.com.au

MARKET ANALYSIS

Eaglemont owns (H) DSR score in its investment assessment which represents a sellerâ&#x20AC;&#x2122;s market condition in locality. Depending on the market listing record and demand oriented number, it is reasonable to believe that the property market demand in Eaglemont is quite strong. (Referring to Appendix)

4.6 MARKET STRUCTURE Referring to CoreLogicâ&#x20AC;&#x2122;s analysis, Eaglemont has a relatively high medium price being $1.85m, low rental yield being only 1.59% and low transection amount being around 50 units (Corelogic, 2017). The fact is that those figures represent a low investment value compared with high rental yield and high annual growth rate which represent the characteristic of this residential suburb again.

Source: Corelogic

MARKET ANALYSIS

4.7 MARKET RECOMMENDATIONS & CONCLUSIONS Depending on the research on local market condition, it is reasonable to believe that Eaglemont is a stable valuation suburb which owns a great location to CBD, nearby facilities and employment precinct. Population who live in this locality is highly residential based rather than investment purpose which can be recognised from the return yield level. On the other hand, the difference existing between demand and supply give us a gap for targeting the unfulfilled demand. While, as it is a traditional mature local suburb, to find out the local preferred product is quite challenge and risky. Referring to the current market product segmentation, aged large houses occupy 88.4% of the market, while semi-detached units only occupies 3% which shows us an increasing trend (RP Data, 2017).

Source: Your Investment Property

Matching up with the demographic analysis, downsize phenomenon is concluded as the direction of our development. Compared with price orientated market including investment sectors, quality and liveability are concluded as key term that we need to track on. Design something different and accepted by potential customer is our challenge which is also the market gap of Eaglemont locality.

PROPOSAL

PROPOSED DEVELOPMENT 5.1 DETAILED RECONCILIATION OF DESIGN To comply with the site analysis and planning requirements, a few design decisions are made: APARTMENT BLOCK The apartment block is placed at the corner to offset the unfavourable exposure coming from the intersection of 2 busy roads. Double glazed windows will be used to block the noise.

DRIVE WAY & ENTRANCE To avoid the drive way being too close to the intersection which could potentially affect the traffic, the existing entrance are abandoned and that the new entrance is placed on the inner street.

TERRACE HOMES LAYOUT To fulfill the Clause 22 Neighbourhood Character policy, instead of having all the terraces homes connected to each other, terrace homes are seperated for the retaintion of existing trees and provision of spaces around each dwellings.

PROPOSAL

5.2 DESIGN AND DESIGN PHILOSOPHY The core development strategy of this project is downsizing garden community. To match up with the population preference of downsizing trends, we proposed 18 terrace homes and 25 large units apartment. In this project, we trying to decrease the distance from nature to human by applying most greens into door to door distance. As we can see that the plants are projected to be grown between dwellings to separate the house. Density is significantly controlled under our planning plan to guarantee the liveability SITE PLAN + APT FLOORPLATE

PROPOSAL

of the community. Except from the terrace homes, large size apartments are placed on the corner of main roads to control the exposure effect to smaller units inside the communities. There will be a walk path between apartment block and terraced units for future residents to walk and rest. It goes all the way to the garden brunch we proposed on the corner of the apartment block. It connects the apartment, walk paths and external road together to provide meal services to all future residents. Depending on all nearby convenient amenities, this community is going to have an enclosed quiet feeling of real downsize homes.

The 3D model is made for viewing the massing model of the whlole project as the shadow effect can be calearly seen form the model below which showing the light caffection by each indicidual units to each other. By setting the terrace home into two by two groups, it gurantees the light collection of both uits from either morning and afternnon of the day.

5.3 DESIGN FEATURES & SPECIFICATION Timber, decorate stones and metal panel are planned to be used as exterior materials for faรงade. To make the faรงade looks simple, light, clean and modern is our idea of approaching comfort. The apartment design incorporated the Better Apartment Design Guideline (Victoria State Government, 2017) in terms of minimum sizes of space and windows etc. Terrace homes incorporated the demographic profile and are designed with a large footprint of 3 bedroom, 3 bathroom and 1 study.

APT FLOORPLAN

TH PLAN

Source: Pinterest

The backyard of the terrace units are planned to be set with a pergola design, so that the plants can climb up during summers and provide shadows at summer for residents to rest and chat in yards. This design is also planned to be delivered to the plan if garden brunch as we trying to incorporate a uniform topic of the community.

The inteiror design is to be minimalism style but with luxury finishes including marble tiles, timber linings and floorings etc, providing a refreshing, modern luxurious lifestyle.

MARKETABLITY

MARKETING STRATEGY 6.1 COMPETITIVE POSITION Location is the most important term when our company choose sites. Our subject site is located in the heart of Eaglemont which sits next to many quality amenities like Austin Hospital, Woolworth, Employment Centre and Reserves. Referring to the Demand and Supply analysis above, it can be seen that under a low supply & high demand market condition, the products we developed in Eaglemont are aimed to fill in the demand gap existing in local market.

6.2 PRICING Referring to the price difference between the house and townhouse in Eaglemont Locality, the target price setting for our Terrace Homes and Apartment is 15% higher than the medium price and market comparison value of similar products in Eaglemont locality being $850,000(Apartment) & $1,380,000(Terrace homes). This price difference comes from our featured garden communal landscape design and high standard interior finishing used for this project. The garden brunch also provide daily food necessities for all future residents which increase the property value as well.

MARKETABILITY

6.3 COMPETITIVE SUPPLY PIPELINE Compared with traditional townhouses exiting in the market, Terrace houses that we provided has smaller backyard, smaller internal living space, more advanced room facilities including lift & spa, and lower prices. Meanwhile, compared with apartment products in locality, the feeling of comfort in terms of selfowning a yard and targeted designed platform for workshop & BBQ will make Terrace Homes different from apartment living lifestyle. Indeed, some small size townhouses and large apartment has become more and more popular from developers’ preference in this locality.

1 VINE STREET, HEIDELBERG VIC 3084

55 YARRA STREET HEIDELBERG, VIC 3084

2, 8 & 11 / 93-95A DAREBIN STREET HEIDELBERG Source: realestate.com.au

MARKETABILITY

6.4 PRODUCT DIFFERENTIATION The common residential property types in the market are Houses, Townhouses & Apartment in Eaglemont and nearby suburbs. Referring to the age population ratio, people starts to focus more on downsizing their homes as they do not have enough time, energy to clean up their big house & large yard. While, changing from house living to apartment living is a huge lifestyle change form most aged population. Referring to (Cohen Handler, 2017), most aged downsizers would find a reasonable house yard is preferred for them compared sharing all external areas with neighbours. Thus, a product which focus on Terrace communal living become our desirable product.

6.5 TARGET MARKETS & CUSTOMER Referring to the research of local downsize trend, a relatively large amount of apartment building launched in our catchment area which trying to catch the down size trends and achieve the highest return for developers as apartment will maximise the building capacity of the site. While, for us M&J Development Group, what we trying to achieve is not only the highest return, but also the achieving a quality liveability facing upcoming aging population who is also our premium target customer group. Here, the â&#x20AC;&#x2DC;ageâ&#x20AC;&#x2122; group we target is not above 60s who can not take care of themselves. Those group of population between 50s - 60s who found themselves not too old to get into retirement living but needs to downsize is our focus. Thus, introducing a medium size residential community with some quality

MARKETABILITY

Terrace Units with large unit apartment is our plan. It combines the feature of retirement living including large room size, high exposed light collection function, large green cover ratio & high accessibility for both inside & outside of the units. Meanwhile, some fresh element like garden concept cafe and & modern brick & panel facade are expected to increase the vitality of community. In addition, referring to nearby convenient schools and employment precinct, mature couples with children who needs to go to school and themselves need to work nearby are also our target customers as the second target groups.

6.6 MARKETING AND SALES STRATEGY

Normally for a project with over 30 dwellings, master agents would be our preferred choice for marketing. However, due to a customer oriented consideration, a strong local based market is our target. Thus, compared with facing towards overall Melbourne market, an influential local agent company in our catchment area is preferred for this project. Referring to the market research of the total listing amount, Miles Property Group would be our ideal exclusive agent under for sale. Compared with master agent they do approach a lower commission rate being around 2.5% which help us cut the selling cost but a much more motivated attitudes and passion for a project like this in Eaglemont locality. For some local downsizers especially aged couples, we tends to believe that traditional local agents who normally deal with listings are able to promote and target them efficiently.

FINANCIAL

FINANCIAL FEASIBILITY 7.1 CASH FLOW PROJECT CASH FLOW & OVERDRAFT

PROJECT CUMULATIVE CASH FLOW

FINANCIAL

7.2 SUMMARY OF PROJECT RETURNS

FINANCIAL

7.3 CONTRIBUTION VS PROFIT

7.4 FINANCIAL SUMMARY

As illustrated above, our project development margin achieves a higher value being 21.92% compared with the target rate being 20%. An estimation of 20% IRR is also achieved with a higher value being 23.31%. Indeed, from an owners equity point of view, the IRR can be 29.64% which is a reasonable good rate of return under Residential Project development.

FINANCIAL

7.5 SENSITIVITY ANALYSIS 7.5.1 VARIATION IN DEVELOPMENT PROFIT

7.5.2 VARIATION IN DEVELOPMENT MARGIN

FINANCIAL

7.5 RISK ANALYSIS MARKET RISK The Market Risks can be categorised into three sectors including Market Risks, Finance Risks and Construction & Planning Risks. The overall market environment risk can be assessed and forecasted to minimise the potential risk of market condition. FINANCIAL RISK For the Financing uncertainties, the possible changing LVR and Interest rate are able to affect the final project cost and further affect the feasibility of the project. Thus, the additional plan of choosing a third-party financing entity is essential so that the sensitivity analysis can reflect the profit margin changes under various market rates. PLANNING RISK The planning uncertainties is the premium risk recognised at this stage as whether the planning permit can be approved by local council or VCAT, While, this risk can be controlled under carefully design responding to the planning policy as we do retained most trees and trying to apply the garden concept into our development.

CONCLUSION

CONCLUSION & RECCOMENDATION

The Eaglemont site provides a fascinating development opportunity. The intelligent acquisition of multiple lots of land gives a huge land area. Multiple access point and massive street frontage on Banksia St and Lower Heidelberg Rd well connects the site to the community and all range of amenities. A detailed planning analysis outlined restrictions on the size and density of built form that can be developed on site. There are significant requirements for the 40% site coverage ratio for the purpose of reserving the neighbourhood character. Based on the statutory analysis, the highest and best use of the site is low rise residential development with a combination of terrace homes and apartment block. As for the market condition, the Australia Economy Market is expected to be a healthy and stable environment between 2017-18. Under this atmosphere, property development which gradually become the backbone of Australia Economy can be forecasted to continue to growth in following years. Therefore, taking part in this business seems to be worth trying at the time. Based on the detailed feasibility study of the project, although the profit return is not extensively high, the internal rate of return, equity return and profit margin has exceeded the companyâ&#x20AC;&#x2122;s financial hurdle rates and hence considered as feasible. In conclusion, this project privileged from its locality, overcomed the planning constraints, born in a stable market condition and designed with an innovative concept. It is highly recommended and expected to be a successful project.

REFERENCE

REFERENCE •Autumn Garden Homes. (2017). Retrieved from http://theautunestate.com.au •Australian Bureau of Statistics. (2016). Census QuickStats: Eaglemont. Retrieved from http://www.censusdata.abs.gov.au/census_services/getproduct/ census/2016/quickstat/SSC20819 •City of Banyule. (2017). Clause 54.04 Amenity Impacts. Melbourne, Victoria. Retrieved from http://planningschemes.dpcd.vic.gov.au/schemes/banyule •City of Banyule. (2017). Clause 22.02 Neighbourhood Character Policy. Melbourne, Victoria. Retrieved from http://planningschemes.dpcd.vic.gov.au/ schemes/banyule •City of Banyule. (2017). Clause 32.08 Schedule 2 to the General Residential Zone. Melbourne, Victoria. Retrieved from http://planningschemes.dpcd.vic.gov.au/ schemes/banyule •Department of Industry, Innovation and Science. (2017). Economic conditions. Retrieved from https://www.industry.gov.au/Office-of-the-Chief-Economist/ Publications/AustralianIndustryReport/assets/Australian-Industry-Report-2016Chapter-2.pdf •International Monetary Fund. (2017). WORLD ECONOMIC OUTLOOK. Retrieved from http://www.imf.org/external/pubs/ft/weo/2017/update/01/

REFERENCE

•IP Global. (2017). 2017 GLOBAL PROPERTY MARKET OUTLOOK. Retrieved from https://www.ipglobal-ltd.com/en/articles/blog/2017-global-property-marketoutlook/ •OECD. (2017). Australia - Economic forecast summary. Retrieved from http:// www.oecd.org/australia/australia-economic-forecast-summary.html •REIV. (2017). Profile For Eaglemont. Retrieved from https://reiv.com.au/marketinsights/suburb/eaglemont •State Government of Victoria. (2017). Planning Property Report. Retrieved from: http://services.land.vic.gov.au/landchannel/ content/ propertyReport?reportNo=3&reporthtml=12&reportname=planning •The Age. (2017). Melbourne’s population boom masks Victoria’s economic woes. Retrieved from http://www.theage.com.au/victoria/melbournes-population-boommasks-victorias-economic-woes-20170630-gx1ses.html •Victorian State Government. (2017).Better Apartments Design Standards. Retrieved from https://www.planning.vic.gov.au/__data/assets/pdf_ file/0024/9582/Better-Apartments-Design-Standards.pdf •Your Investment Property. (2017). Suburb Profile Report For Eaglemont. Retrieved from http://www.yourinvestmentpropertymag.com.au/top-suburbs/vic-3084eaglemont.aspx

APPENDIX

APPENDIX APPENDIX A - PLAN OF SUBDIVISION

APPENDIX B - PLANNING PROPERTY REPORT

APPENDIX C - GENERAL RESIDENTIAL ZONE

APPENDIX D - GENERAL RESIDENTIAL ZONE 2 SCHEDULE

APPENDIX E - VEGETATION PROTECTION OVERLAY (VPO)

APPENDIX F - ENVIRONMENTAL SIGNIFICANCE OVERLAY

APPENDIX G - NEIGHBOURHOOD CHARACTER POLICY

APPENDIX H - DSR SCORE

APPENDIX

Appendices A. PLAN OF SUBDIVISION Plan of subdivision

Appendices Zoning/Planning

B. PLANNING PROPERTY REPORT

APPENDIX

C. GENERAL RESIDENTIAL ZONE Section 2 - Permit required Use

Condition

Accommodation (other than Dependent person’s unit, Dwelling and Residential aged care facility) Agriculture (other than Animal keeping, Animal training, Apiculture, Horse stables and Intensive animal husbandry) Animal keeping (other than Animal boarding) – if the Section 1 condition is not met

Must be no more than 5 animals.

Car park

Must be used in conjunction with another use in Section 1 or 2.

Car wash

The site must adjoin, or have access to, a road in a Road Zone.

Community market Convenience restaurant

The site must adjoin, or have access to, a road in a Road Zone.

Convenience shop Food and drink premises (other than Convenience restaurant and Take away food premises) Leisure and recreation (other than Informal outdoor recreation and Motor racing track) Place of assembly (other than Amusement parlour, Carnival, Circus, Nightclub, and Place of worship) Plant nursery Service station

The site must either: Adjoin a commercial zone or industrial zone. Adjoin, or have access to, a road in a Road Zone. The site must not exceed either: 3000 square metres. 3600 square metres if it adjoins on two boundaries a road in a Road Zone.

Store

Must be in a building, not a dwelling, and used to store equipment, goods, or motor vehicles used in conjunction with the occupation of a resident of a dwelling on the lot.

Take away food premises

The site must adjoin, or have access to, a road in a Road Zone.

Utility installation (other than Minor utility installation and Telecommunications facility) Any other use not in Section 1 or 3

Section 3 – Prohibited Use Amusement parlour

GENERAL RESIDENTIAL ZONE

PAGE 2 OF 8

APPENDIX

C. GENERAL RESIDENTIAL ZONE Use Animal boarding Animal training Brothel Cinema based entertainment facility Horse stables Industry (other than Car wash) Intensive animal husbandry Motor racing track Nightclub Office (other than Medical centre) Retail premises (other than Community market, Convenience shop, Food and drink premises, Plant nursery) Saleyard Stone extraction Transport terminal Warehouse (other than Store)

32.08-3 27/03/2017 VC110

Subdivision Permit requirement A permit is required to subdivide land.

An application to subdivide land that creates a vacant lot capable of development for a dwelling or residential building, must ensure that each lot created contains the minimum garden area set out in Clause 32.08-4.

Where a vacant lot less than 400 square metres is created, that lot must contain at least 25 percent of the lot as garden area. This does not apply to land where an approved precinct structure plan or an equivalent strategic plan applies.

An application to subdivide land, other than an application to subdivide land into lots each containing an existing dwelling or car parking space, must meet the requirements of Clause 56 and: Must meet all of the objectives included in the clauses specified in the following table.

Should meet all of the standards included in the clauses specified in the following table.

Class of subdivision

Objectives and standards to be met

60 or more lots

All except Clause 56.03-5.

16 – 59 lots

All except Clauses 56.03-1 to 56.03-3, 56.03-5, 56.06-1 and 56.06-3.

3 – 15 lots

All except Clauses 56.02-1, 56.03-1 to 56.03-4, 56.05-2, 56.06-1, 56.06-3 and 56.06-6.

2 lots

Clauses 56.03-5, 56.04-2, 56.04-3, 56.04-5, 56.06-8 to 56.09-2.

GENERAL RESIDENTIAL ZONE

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APPENDIX

C. GENERAL RESIDENTIAL ZONE 32.08-4 27/03/2017 VC110

Construction or extension of a dwelling or residential building Minimum garden area requirement Whether or not a planning permit is required for the construction or extension of a dwelling or residential building on a lot, a lot must provide the minimum garden area at ground level as set out in the following table: Lot size

32.08-5 27/03/2017 VC110

Minimum percentage of a lot set aside as garden area

400 - 500 square metres

25%

501 - 650 square metres

30%

Above 650 square metres

35%

Construction and extension of one dwelling on a lot Permit requirement A permit is required to construct or extend one dwelling on:

A lot of less than 300 square metres.

A lot of between 300 square metres and 500 square metres if specified in a schedule to this zone.

A permit is required to construct or extend a front fence within 3 metres of a street if:

The fence is associated with one dwelling on:

A lot of less than 300 square metres, or

A lot of between 300 and 500 square metres if specified in a schedule to this zone, and

The fence exceeds the maximum height specified in Clause 54.06-2.

A development must meet the requirements of Clause 54. No permit required No permit is required to:

32.08-6 13/04/2017 VC136

Construct or carry out works normal to a dwelling.

Construct or extend an out-building (other than a garage or carport) on a lot provided the gross floor area of the out-building does not exceed 10 square metres and the maximum building height is not more than 3 metres above ground level.

Construction and extension of two or more dwellings on a lot, dwellings on common property and residential buildings Permit requirement A permit is required to:

Construct a dwelling if there is at least one dwelling existing on the lot. Construct two or more dwellings on a lot.

Extend a dwelling if there are two or more dwellings on the lot. Construct or extend a dwelling if it is on common property. Construct or extend a residential building.

GENERAL RESIDENTIAL ZONE

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APPENDIX

C. GENERAL RESIDENTIAL ZONE A permit is required to construct or extend a front fence within 3 metres of a street if:

The fence is associated with 2 or more dwellings on a lot or a residential building, and The fence exceeds the maximum height specified in Clause 55.06-2.

A development must meet the requirements of Clause 55. This does not apply to a development of five or more storeys, excluding a basement.

An apartment development of five or more storeys, excluding a basement, must meet the requirements of Clause 58. A permit is not required to construct one dependent person’s unit on a lot. Transitional provisions Clause 55 of this scheme, as in force immediately before the approval date of Amendment VC136, continues to apply to:

An application for a planning permit lodged before that date.

An application for an amendment of a permit under section 72 of the Act, if the original permit application was lodged before that date.

Clause 58 does not apply to:

32.08-7 27/03/2017 VC110

An application for a planning permit lodged before the approval date of Amendment VC136.

An application for an amendment of a permit under section 72 of the Act, if the original permit application was lodged before the approval date of Amendment VC136.

Requirements of Clause 54 and Clause 55 A schedule to this zone may specify the requirements of:

Standards A3, A5, A6, A10, A11, A17 and A20 of Clause 54 of this scheme. Standards B6, B8, B9, B13, B17, B18, B28 and B32 of Clause 55 of this scheme.

If a requirement is not specified in a schedule to this zone, the requirement set out in the relevant standard of Clause 54 or Clause 55 applies. 32.08-8 27/03/2017 VC110

32.08-9 27/03/2017 VC110

Buildings and works associated with a Section 2 use A permit is required to construct a building or construct or carry out works for a use in Section 2 of Clause 32.08-2. Maximum building height requirement for a dwelling or residential building A building must not be constructed for use as a dwelling or a residential building that:

exceeds the maximum building height specified in a schedule to this zone; or

contains more than the maximum number of storeys specified in a schedule to this zone.

If no maximum building height or maximum number of storeys is specified in a schedule to this zone:

the building height must not exceed 11 metres; and

the building must contain no more than 3 storeys at any point.

A building may exceed the applicable maximum building height or contain more than the applicable maximum number of storeys if:

GENERAL RESIDENTIAL ZONE

PAGE 5 OF 8

APPENDIX

C. GENERAL RESIDENTIAL ZONE

It replaces an immediately pre-existing building and the new building does not exceed the building height or contain a greater number of storeys than the preexisting building.

There are existing buildings on both abutting allotments that face the same street and the new building does not exceed the building height or contain a greater number of storeys than the lower of the existing buildings on the abutting allotments. It is on a corner lot abutted by lots with existing buildings and the new building does not exceed the building height or contain a greater number of storeys than the lower of the existing buildings on the abutting allotments.

It is constructed pursuant to a valid building permit that was in effect prior to the introduction of this provision.

An extension to an existing building may exceed the applicable maximum building height or contain more than the applicable maximum number of storeys if it does not exceed the building height of the existing building or contain a greater number of storeys than the existing building.

A building may exceed the maximum building height by up to 1 metre if the slope of the natural ground level, measured at any cross section of the site of the building wider than 8 metres, is greater than 2.5 degrees.

A basement is not a storey for the purposes of calculating the number of storeys contained in a building. The maximum building height and maximum number of storeys requirements in this zone or a schedule to this zone apply whether or not a planning permit is required for the construction of a building. Building height if land is subject to inundation If the land is in a Special Building Overlay, Land Subject to Inundation Overlay or is land liable to inundation the maximum building height specified in the zone or schedule to the zone is the vertical distance from the minimum floor level determined by the relevant drainage authority or floodplain management authority to the roof or parapet at any point. 32.08-10 13/04/2017 VC136

Application requirements An application must be accompanied by the following information, as appropriate:

For a residential development of four storeys or less, the neighbourhood and site description and design response as required in Clause 54 and Clause 55. For an apartment development of five or more storeys, an urban context report and design response as required in Clause 58.01. For an application for subdivision, a site and context description and design response as required in Clause 56. Plans drawn to scale and dimensioned which show:

Site shape, size, dimensions and orientation.

The siting and use of existing and proposed buildings. Adjacent buildings and uses.

The building form and scale.

Setbacks to property boundaries.

The likely effects, if any, on adjoining land, including noise levels, traffic, the hours of delivery and despatch of good and materials, hours of operation and light spill, solar access and glare. Any other application requirements specified in a schedule to this zone.

GENERAL RESIDENTIAL ZONE

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APPENDIX

C. GENERAL RESIDENTIAL ZONE If in the opinion of the responsible authority an application requirement is not relevant to the evaluation of an application, the responsible authority may waive or reduce the requirement. 32.08-11 27/03/2017 VC110

Exemption from notice and review Subdivision An application to subdivide land into lots each containing an existing dwelling or car parking space is exempt from the notice requirements of Section 52(1)(a), (b) and (d), the decision requirements of Section 64(1), (2) and (3) and the review rights of Section 82(1) of the Act.

32.08-12 29/08/2017 VC139

Decision guidelines Before deciding on an application, in addition to the decision guidelines in Clause 65, the responsible authority must consider, as appropriate: General

The State Planning Policy Framework and the Local Planning Policy Framework, including the Municipal Strategic Statement and local planning policies. The purpose of this zone.

The objectives set out in a schedule to this zone.

Any other decision guidelines specified in a schedule to this zone.

Subdivision

The pattern of subdivision and its effect on the spacing of buildings.

For subdivision of land for residential development, the objectives and standards of Clause 56.

Dwellings and residential buildings

For the construction and extension of one dwelling on a lot, the objectives, standards and decision guidelines of Clause 54.

For the construction and extension of two or more dwellings on a lot, dwellings on common property and residential buildings, the objectives, standards and decision guidelines of Clause 55. This does not apply to an apartment development of five or more storeys, excluding a basement.

For the construction and extension of an apartment development of five or more storeys, excluding a basement, the objectives, standards and decisions guidelines of Clause 58.

Non-residential use and development

Whether the use or development is compatible with residential use. Whether the use generally serves local community needs. The scale and intensity of the use and development.

The design, height, setback and appearance of the proposed buildings and works. The proposed landscaping.

The provision of car and bicycle parking and associated accessways. Any proposed loading and refuse collection facilities.

GENERAL RESIDENTIAL ZONE

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APPENDIX

C. GENERAL RESIDENTIAL ZONE 32.08-13 27/03/2017 VC110

32.08-14 27/03/2017 VC110

The safety, efficiency and amenity effects of traffic to be generated by the proposal.

Advertising signs Advertising sign requirements are at Clause 52.05. This zone is in Category 3. Transitional provisions The minimum garden area requirement of Clause 32.08-4 and the maximum building height and number of storeys requirements of Clause 32.08-9 introduced by Amendment VC110 do not apply to:

A dwelling or residential building constructed on a lot before the approval date of Amendment VC110.

A planning permit application for the construction or extension of a dwelling or residential building lodged before the approval date of Amendment VC110. Where a planning permit is not required for the construction or extension of a dwelling or residential building:

Notes:

A building permit issued for the construction or extension of a dwelling or residential building before the approval date of Amendment VC110.

A building surveyor has been appointed to issue a building permit for the construction or extension of a dwelling or residential building before the approval date of Amendment VC110. A building permit must be issued within 12 months of the approval date of Amendment VC110. A building surveyor is satisfied, and certifies in writing, that substantial progress was made on the design of the construction or extension of a dwelling or residential building before the approval date of Amendment VC110. A building permit must be issued within 12 months of the approval date of Amendment VC110.

The minimum garden area requirement of Clause 32.08-4 introduced by Amendment VC110 does not apply to a planning permit application to subdivide land for a dwelling or a residential building lodged before the approval date of Amendment VC110.

Refer to the State Planning Policy Framework and the Local Planning Policy Framework, including the Municipal Strategic Statement, for strategies and policies which may affect the use and development of land. Check whether an overlay also applies to the land.

Other requirements may also apply. These can be found at Particular Provisions.

GENERAL RESIDENTIAL ZONE

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APPENDIX

C. GENERAL RESIDENTIAL ZONE 32.08 29/08/2017 VC139

GENERAL RESIDENTIAL ZONE Shown on the planning scheme map as GRZ, R1Z, R2Z or R3Z with a number (if shown). Purpose To implement the State Planning Policy Framework and the Local Planning Policy Framework, including the Municipal Strategic Statement and local planning policies. To encourage development that respects the neighbourhood character of the area.

To encourage a diversity of housing types and housing growth particularly in locations offering good access to services and transport.

To allow educational, recreational, religious, community and a limited range of other nonresidential uses to serve local community needs in appropriate locations. 32.08-1 27/03/2017 VC110

32.08-2 27/03/2017 VC110

Neighbourhood character objectives A schedule to this zone may contain neighbourhood character objectives to be achieved for the area. Table of uses Section 1 - Permit not required Use

Condition

Animal keeping (other than Animal boarding)

Must be no more than 2 animals.

Bed and breakfast

No more than 10 persons may be accommodated away from their normal place of residence. At least 1 car parking space must be provided for each 2 persons able to be accommodated away from their normal place of residence.

Dependent personâ&#x20AC;&#x2122;s unit

Must be the only dependent personâ&#x20AC;&#x2122;s unit on the lot.

Dwelling (other than Bed and breakfast) Home occupation Informal outdoor recreation Medical centre

The gross floor area of all buildings must not exceed 250 square metres. Must not require a permit under clause 52.063. The site must adjoin, or have access to, a road in a Road Zone.

Minor utility installation Place of worship

The gross floor area of all buildings must not exceed 250 square metres. The site must adjoin, or have access to, a road in a Road Zone.

Railway Residential aged care facility Tramway Any use listed in Clause 62.01

GENERAL RESIDENTIAL ZONE

Must meet the requirements of Clause 62.01.

PAGE 1 OF 8

APPENDIX

D. SCHEDULE 2 TO GENERAL RESIDENTIAL ZONE BANYULE PLANNING SCHEME

24/07/2014 C100

SCHEDULE 2 TO CLAUSE 32.08 GENERAL RESIDENTIAL ZONE Shown on the planning scheme map as GRZ2. INCREMENTAL AREAS

1.0 24/07/2014 C100

Permit requirement for the construction or extension of one dwelling on a lot Is a permit required to construct or extend one dwelling on a lot of between 300 square metres and 500 square metres? Yes

2.0

Requirements of Clause 54 and Clause 55

24/07/2014 C100

Standard

Requirement

Minimum street setback

A3 and B6

None specified

Site coverage

A5 and B8

40%

Permeability

A6 and B9

None specified

Landscaping

B13

Landscape plans will provide 1 tree for every 400 square metres of site area, including 1 large tree in the front setback.

Side and rear setbacks

A10 and B17

None specified

Walls on boundaries

A11 and B18

None specified

Private open space

A17

None specified

B28

None specified

A20 and B32

None specified

Front fence height

3.0 24/07/2014 C100

4.0 24/07/2014 C100

Maximum building height requirement for a dwelling or residential building None specified Application requirements The following application requirements apply to an application for a permit under clause 32.08, in addition to those specified in clause 32.08 and elsewhere in the scheme: A Landscape Concept Plan must be submitted which considers the Banyule Tree Planting Zone Guidelines. It should distinguish landscaped garden areas from useable private open space, show tree planting locations and the extent of the mature canopies.

5.0 24/07/2014 C100

Decision guidelines The following decision guidelines apply to an application for a permit under clause 32.08, in addition to those specified in clause 32.08 and elsewhere in the scheme: Whether the landscaping requirement is met by providing mostly large trees.

GENERAL RESIDENTIAL ZONE – SCHEDULE 2

PAGE 1 OF 2

APPENDIX

D. SCHEDULE 2 TO GENERAL RESIDENTIAL ZONE BANYULE PLANNING SCHEME

Whether the landscaping requirement can be met by including existing large trees that are considered worthy of retention. Whether the proposed site coverage protects and enhances the character of the area by enabling existing vegetation to be retained and new trees to be planted. Whether the proposal responds to the objectives and design responses in the Residential Neighbourhood Character Policy at clause 22.02 Whether the proposal responds to the decision guidelines of the Non Residential Uses and Development in Residential Zones Policy at clause 22.04 If the site is a Strategic Redevelopment Site as described in clause 21.06-2, consider whether the objectives of clause 54 and 55 can be achieved by varying the relevant standard, and the requirements at part 2.0 of this schedule.

GENERAL RESIDENTIAL ZONE – SCHEDULE 2

PAGE 2 OF 2

APPENDIX

E. VEGETATION PROTECTION OVERLAY 42.02 02/04/2015 VC124

VEGETATION PROTECTION OVERLAY Shown on the planning scheme map as VPO with a number. Purpose To implement the State Planning Policy Framework and the Local Planning Policy Framework, including the Municipal Strategic Statement and local planning policies. To protect areas of significant vegetation. To ensure that development minimises loss of vegetation. To preserve existing trees and other vegetation. To recognise vegetation protection areas as locations of special significance, natural beauty, interest and importance. To maintain and enhance habitat and habitat corridors for indigenous fauna. To encourage the regeneration of native vegetation.

42.02-1 19/01/2006 VC37

Vegetation significance and objective A schedule to this overlay must contain: A statement of the nature and significance of the vegetation to be protected. The vegetation protection objective to be achieved.

42.02-2 15/09/2008 VC49

Permit requirement A permit is required to remove, destroy or lop any vegetation specified in a schedule to this overlay. This does not apply: If the table to Clause 42.02-3 specifically states that a permit is not required. To the removal, destruction or lopping of native vegetation in accordance with a native vegetation precinct plan specified in the schedule to Clause 52.16.

42.02-3 02/04/2015 VC124

Table of exemptions No permit is required to remove, destroy or lop vegetation to the minimum extent necessary if any of the following apply: Bracken

The vegetation is bracken (Pteridium esculentum) which has naturally established or regenerated on land lawfully cleared of naturally established vegetation. This exemption does not apply to land on which vegetation has been cleared or otherwise destroyed or damaged as a result of flood, fire or other natural disaster.

Crown land

The vegetation is to be removed, destroyed or lopped on Crown land and by a person acting under and in accordance with an authorisation order made under sections 82 or 84 of the Traditional Owner Settlement Act 2010.

VEGETATION PROTECTION OVERLAY

PAGE 1 OF 5

APPENDIX

E. VEGETATION PROTECTION OVERLAY No permit is required to remove, destroy or lop vegetation to the minimum extent necessary if any of the following apply: Emergency works

Fire protection

The vegetation presents an immediate risk of personal injury or damage to property and only that part of vegetation which presents the immediate risk is removed, destroyed or lopped.

The vegetation is to be removed, destroyed or lopped by a public authority or municipal council to create an emergency access or to enable emergency works.

The vegetation is to be removed, destroyed or lopped for the making of a fuelbreak by or on behalf of a public authority in accordance with a strategic fuelbreak plan approved by the Secretary to the Department of Environment, Land, Water and Planning (as constituted under Part 2 of the Conservation, Forest and Lands Act 1987). The maximum width of a fuelbreak must not exceed 40 metres.

The vegetation is to be removed, destroyed or lopped for fire fighting measures, fuel reduction burning, or the making of a fuel break up to 6 metres wide.

The vegetation is ground fuel within 30 metres of a building.

The vegetation is to be removed, destroyed or lopped in accordance with a fire prevention notice under:

Section 65 of the Forests Act 1958.

Section 41 of the Country Fire Authority Act 1958.

Section 8 of the Local Government Act 1989.

The vegetation is to be removed, destroyed or lopped to keep the whole or any part of any vegetation clear of an electric line in accordance with a code of practice prepared under Part 8 of the Electricity Safety Act 1998.

The vegetation is to be removed, destroyed or lopped in accordance with any code of practice prepared in accordance with Part 8 of the Electricity Safety Act 1998 in order to minimise the risk of bushfire ignition in the proximity of electricity lines.

The vegetation is to be removed, destroyed or lopped to reduce fuel loads on roadsides to minimise the risk to life and property from bushfire of an existing public road managed by the relevant responsible road authority (as defined by the Road Management Act 2004) in accordance with the written agreement of the Secretary to the Department of Environment, Land, Water and Planning (as constituted under Part 2 of the Conservation, Forest and Lands Act 1987).

Geothermal energy exploration and extraction

The vegetation is to be removed, destroyed or lopped to enable the carrying out of geothermal energy exploration or extraction in accordance with the Geothermal Energy Resources Act 2005.

Greenhouse gas sequestration exploration

The vegetation is to be removed, destroyed or lopped to enable the carrying out of geothermal energy exploration or extraction in accordance with the Greenhouse Gas Geological Sequestration Act 2008.

Greenhouse gas sequestration

The vegetation is to be removed, destroyed or lopped to enable the carrying out of geothermal energy exploration or extraction in accordance with the Greenhouse Gas Geological Sequestration Act 2008.

Land management notices

The vegetation is to be removed, destroyed or lopped to comply with land management notice issued under the Catchment and Land Protection Act 1994.

VEGETATION PROTECTION OVERLAY

PAGE 2 OF 5

APPENDIX

E. VEGETATION PROTECTION OVERLAY No permit is required to remove, destroy or lop vegetation to the minimum extent necessary if any of the following apply: Land use conditions

The vegetation is to be removed, destroyed or lopped to comply with a land use condition served under the Catchment and Land Protection Act 1994.

Mineral Exploration

The vegetation is to be removed, destroyed or lopped to enable the carrying out of Mineral exploration.

Mineral extraction

The vegetation is to be removed, destroyed or lopped to enable the carrying out of Mineral extraction in accordance with a work plan approved under the Mineral Resources (Sustainable Development) Act 1990 and authorised by a work authority granted under that Act.

Noxious weeds

The vegetation is a noxious weed the subject of a declaration under section 58 or section 58A of the Catchment and Land Protection Act 1994. This exemption does not apply to Australian Dodder (Cuscuta australis).

Pest animal burrows

The vegetation is to be removed, destroyed or lopped to enable the removal of pest animal burrows. In the case of native vegetation the written agreement of an officer of the Department responsible for administering the Flora and Fauna Guarantee Act 1988 is required before the vegetation can be removed, destroyed or lopped.

Planted vegetation

The vegetation has been planted or grown as a result of direct seeding for Crop raising or Extensive animal husbandry.

Railways

The vegetation is to be removed, destroyed or lopped to maintain the safe and efficient function of an existing railway or railway access road, in accordance with the written agreement of the Secretary to the Department of Environment, Land, Water and Planning (as constituted under Part 2 of the Conservation, Forest and Lands Act 1987).

Regrowth

The vegetation is regrowth which has naturally established or regenerated on land lawfully cleared of naturally established vegetation and is within the boundary of a timber production plantation, as indicated on a Plantation Development Notice or other documented record, and has established after the plantation. This exemption does not apply to land on which vegetation has been cleared or otherwise destroyed or damaged as a result of flood, fire or other natural disaster.

Road safety

The vegetation is to be removed, destroyed or lopped to maintain the safe and efficient function of an existing public road managed by the relevant responsible road authority (as defined by the Road Management Act 2004) in accordance with the written agreement of the Secretary of the Department of Environment, Land, Water and Planning (as constituted under Part 2 of the Conservation, Forest and Lands Act 1987).

VEGETATION PROTECTION OVERLAY

PAGE 3 OF 5

APPENDIX

E. VEGETATION PROTECTION OVERLAY No permit is required to remove, destroy or lop vegetation to the minimum extent necessary if any of the following apply: Stone exploration

The vegetation is to be removed, destroyed or lopped to enable the carrying out of the Stone exploration. The maximum extent of vegetation removed, destroyed or lopped under this exemption on contiguous land in the same ownership in a five year period must not exceed any of the following:

1 hectare of vegetation which does not include a tree.

15 trees if each tree has a trunk diameter of less than 40 centimetres at a height of 1.3 metres above ground level.

5 trees if each tree has a trunk diameter of 40 centimetres or more at a height of 1.3 metres above ground level.

This exemption does not apply to vegetation to be removed, destroyed or lopped to enable costeaning and bulk sampling activities.

42.02-4 18/11/2011 VC83

Stone extraction

The vegetation is to be removed, destroyed or lopped to enable the carrying out of Stone extraction in accordance with a work plan approved under the Mineral Resources (Sustainable Development) Act 1990 and authorised by a work authority granted under that Act.

Surveying

The vegetation is to be removed, destroyed or lopped for establishing sight-lines for the measurement of land by surveyors in the exercise of their profession, and if using handheld tools.

Decision guidelines Before deciding on an application, in addition to the decision guidelines in Clause 65, the responsible authority must consider, as appropriate: The State Planning Policy Framework and the Local Planning Policy Framework, including the Municipal Strategic Statement and local planning policies. The statement of the nature and significance of the vegetation to be protected and the vegetation protection objective contained in a schedule to this overlay. The effect of the proposed use, building, works or subdivision on the nature and type of vegetation to be protected. The role of native vegetation in conserving flora and fauna. The need to retain native or other vegetation if it is rare, supports rare species of flora or fauna or forms part of a wildlife corridor. The need to retain vegetation which prevents or limits adverse effects on ground water recharge. The need to retain vegetation:

Where ground slopes exceed 20 percent.

Within 30 metres of a waterway or wetland.

On land where the soil or subsoil may become unstable if cleared.

On land subject to or which may contribute to soil erosion, slippage or salinisation.

In areas where the removal, destruction or lopping of vegetation could adversely affect the integrity or long term preservation of an identified site of scientific, nature conservation or cultural significance.

VEGETATION PROTECTION OVERLAY

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E. VEGETATION PROTECTION OVERLAY

Which is of heritage or cultural significance.

The need to remove, destroy or lop vegetation to create a defendable space to reduce the risk of bushfire to life and property. Any relevant permit to remove, destroy or lop vegetation in accordance with a land management plan or works program. Whether the application includes a land management plan or works program. Whether provision is made or is to be made to establish and maintain vegetation elsewhere on the land. Any other matters specified in a schedule to this overlay. Notes:

Refer to the State Planning Policy Framework and the Local Planning Policy Framework, including the Municipal Strategic Statement, for strategies and policies which may affect the use and development of the land. Check the requirements of the zone which applies to the land. Other requirements may also apply. These can be found at Particular Provisions.

VEGETATION PROTECTION OVERLAY

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APPENDIX

F. ENVIRONMENTAL SIGNIFICANCE OVERLAY 42.01

02/04/2015 VC124

ENVIRONMENTAL SIGNIFICANCE OVERLAY Shown on the planning scheme map as ESO with a number. Purpose To implement the State Planning Policy Framework and the Local Planning Policy Framework, including the Municipal Strategic Statement and local planning policies. To identify areas where the development of land may be affected by environmental constraints. To ensure that development is compatible with identified environmental values.

42.01-1 19/01/2006 VC37

Environmental significance and objective A schedule to this overlay must contain: A statement of environmental significance. The environmental objective to be achieved.

42.01-2 15/09/2008 VC49

Permit requirement A permit is required to: Construct a building or construct or carry out works. This does not apply if a schedule to this overlay specifically states that a permit is not required. Construct a fence if specified in a schedule to this overlay. Construct bicycle pathways and trails. Subdivide land. This does not apply if a schedule to this overlay specifically states that a permit is not required. Remove, destroy or lop any vegetation, including dead vegetation. This does not apply:

If a schedule to this overlay specifically states that a permit is not required.

If the table to Clause 42.01-3 specifically states that a permit is not required.

42.01-3

02/04/2015 VC124

To the removal, destruction or lopping of native vegetation in accordance with a native vegetation precinct plan specified in the schedule to Clause 52.16.

Table of exemptions No permit is required to remove, destroy or lop vegetation to the minimum extent necessary if any of the following apply: Bracken

Crown land

ENVIRONMENTAL SIGNIFICANCE OVERLAY

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APPENDIX

F. ENVIRONMENTAL SIGNIFICANCE OVERLAY No permit is required to remove, destroy or lop vegetation to the minimum extent necessary if any of the following apply: Emergency works

Fire protection

The vegetation presents an immediate risk of personal injury or damage to property and only that part of vegetation which presents the immediate risk is removed, destroyed or lopped.

The vegetation is to be removed, destroyed or lopped by a public authority or municipal council to create an emergency access or to enable emergency works.

The vegetation is to be removed, destroyed or lopped for fire fighting measures, fuel reduction burning, or the making of a fuel break up to 6 metres wide.

The vegetation is ground fuel within 30 metres of a building.

The vegetation is to be removed, destroyed or lopped in accordance with a fire prevention notice under:

Section 65 of the Forests Act 1958.

Section 41 of the Country Fire Authority Act 1958.

Section 8 of the Local Government Act 1989.

Geothermal energy exploration and extraction

The vegetation is to be removed, destroyed or lopped to enable the carrying out of geothermal energy exploration or extraction in accordance with the Geothermal Energy Resources Act 2005.

Greenhouse gas sequestration exploration

The vegetation is to be removed, destroyed or lopped to enable the carrying out of geothermal energy exploration or extraction in accordance with the Greenhouse Gas Geological Sequestration Act 2008.

Greenhouse gas sequestration

The vegetation is to be removed, destroyed or lopped to enable the carrying out of geothermal energy exploration or extraction in accordance with the Greenhouse Gas Geological Sequestration Act 2008.

Land management notices

The vegetation is to be removed, destroyed or lopped to comply with land management notice issued under the Catchment and Land Protection Act 1994.

ENVIRONMENTAL SIGNIFICANCE OVERLAY

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F. ENVIRONMENTAL SIGNIFICANCE OVERLAY No permit is required to remove, destroy or lop vegetation to the minimum extent necessary if any of the following apply: Land use conditions

The vegetation is to be removed, destroyed or lopped to comply with a land use condition served under the Catchment and Land Protection Act 1994.

Mineral Exploration

The vegetation is to be removed, destroyed or lopped to enable the carrying out of Mineral exploration.

Mineral extraction

Noxious weeds

Pest animal burrows

The vegetation is to be removed, destroyed or lopped to enable the removal of pest animal burrows.

In the case of native vegetation the written agreement of an officer of the Department responsible for administering the Flora and Fauna Guarantee Act 1988 is required before the vegetation can be removed, destroyed or lopped.

Planted vegetation

The vegetation has been planted or grown as a result of direct seeding for Crop raising or Extensive animal husbandry.

Railways

Regrowth

This exemption does not apply to land on which vegetation has been cleared or otherwise destroyed or damaged as a result of flood, fire or other natural disaster.

Road safety

ENVIRONMENTAL SIGNIFICANCE OVERLAY

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F. ENVIRONMENTAL SIGNIFICANCE OVERLAY No permit is required to remove, destroy or lop vegetation to the minimum extent necessary if any of the following apply: Stone exploration

1 hectare of vegetation which does not include a tree.

15 trees if each tree has a trunk diameter of less than 40 centimetres at a height of 1.3 metres above ground level.

5 trees if each tree has a trunk diameter of 40 centimetres or more at a height of 1.3 metres above ground level.

This exemption does not apply to vegetation to be removed, destroyed or lopped to enable costeaning and bulk sampling activities.

42.01-4 18/11/2011 VC83

Stone extraction

Surveying

The vegetation is to be removed, destroyed or lopped for establishing sight-lines for the measurement of land by surveyors in the exercise of their profession, and if using handheld tools.

Notes:

ENVIRONMENTAL SIGNIFICANCE OVERLAY

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APPENDIX

G. NEIGHBOURHOOD CHARACTER POLICY BANYULE PLANNING SCHEME

22.02

01/10/2015 C71

22.02-1 20/06/2013 C68

RESIDENTIAL NEIGHBOURHOOD CHARACTER POLICY This policy applies to all development in the Neighbourhood Residential Zone, General Residential Zone, Rural Conservation Zone, Low Density Residential Zone, and Precinct 5 of Schedule 1 to the Activity Centre Zone. Policy basis The appearance of residential areas or ‘neighbourhood character’, is important to the community that live, work or pass through an area. Guiding future development that contributes to the preferred character of an area, enhances community pride, sense of place and support for local economic growth and vitality. Council has reviewed its 1999 Strategy to establish a 2012 Neighbourhood Character Strategy. It confirms the original strategy’s direction for the preferred future character of neighbourhoods. Five broad area types have been retained to inform 13 consolidated precincts. Reference to the Residential Areas Framework, in the Municipal Strategic Statement at Clause 21.06, is also included so that further direction can be given for housing growth and preferred character within each precinct. The precincts are shown on a map that forms part of this policy. A suite of Design Objectives and Design Responses will be used for each precinct, to guide development outcomes that are aligned with the preferred character of Banyule’s neighbourhoods. The 2012 Strategy gives more information about each precinct to support this policy. Structure planning and frameworks are providing the means to identify the preferred future neighbourhood character of Activity Centres. Activity Centres are identified by the Victorian Government as accessible places. Each centre may have its own preferred neighbourhood character. New development in activity centres should consider the surrounding urban context and give priority to objectives and design responses derived from structure plans or design frameworks for these centres.

22.02-2

20/06/2013 C68

Policy Objectives To ensure that development complements and respects the preferred future character of the area. To integrate this policy with the Residential Areas Framework contained in clause 21.06 of this Scheme. To retain and enhance the identified elements that contribute to the preferred future character of the area. To recognise the need for new or additional Design Objectives and Design Responses for areas within and around activity centres that are or will be subject to structure planning or design frameworks.

22.02-3 01/10/2015 C71

Garden Suburban Areas Policy Where a permit is required to develop or subdivide land, it is policy to take the following description of key characteristics, objectives and statements of preferred future character into account when considering any application.

LOCAL P LANNING POLICIES – CLAUSE 22.02

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APPENDIX

G. NEIGHBOURHOOD CHARACTER POLICY BANYULE PLANNING SCHEME

Key Characteristics The Garden Suburban character area type has a spacious leafy character in generally formal garden settings, with space around and between dwellings, a relatively wide and open street space, and garden style vegetation, often mature and exotic, in both the private and public domain, creating an attractive, tree-dominated landscape setting in some streets. The most important characteristics of the area type are the scale, siting and architectural style of the dwellings and the vegetation and topography of their settings. Development in these areas should reflect the main themes of existing dwelling styles, and defined special characteristics of particular precincts should be protected and enhanced. The Heidelberg to Eaglemont Ridgeline and the Bundoora to Diamond Village to Army Barracks Ridgeline run through parts of the Garden Suburban Area. The continuous green, dominant treed canopy and natural vegetated appearance of these ridgelines should be maintained and improved. The continuity of the treed canopy should only punctured by taller development at the core of Activity Centres. Garden Suburban Precinct 1 Statement of Preferred Future Neighbourhood Character The character of the precinct is to be retained and enhanced by: Designing new dwellings and extensions in an architectural style sympathetic with existing dwellings in the precinct. Encouraging detailed design variation between dwellings to prevent mirror image street presentations. Maintaining the overall one or two storey scale of dwellings within the GRZ2. Ensuring the scale of new dwellings in the GRZ1 is sympathetic to the existing dwellings on neighbouring properties and the surrounding precinct. Positioning new buildings in keeping with the front setback of dwellings along the street, and with sufficient space for tree planting. Encouraging the planting of indigenous trees and understorey vegetation and removal of environmental weeds where appropriate to enhance the existing wildlife links in the area and landscape setting of the precinct. Designing site layouts (including basements) with spacing around dwellings that allows for the retention of trees and the planting and future growth of trees to maturity. Protecting and enhancing spines of trees along neighbouring rear yards. Providing permeable front boundary treatments coupled with vegetated front gardens. Landscaping the front setback to improve the garden setting and discourage car parking in front of dwellings. Ensuring basement ramps, carports and garages do not dominate the streetscape. Designing developments with only one single width crossover and a driveway that is softened with curves and vegetation. Protecting and enhancing the scenic and environmental qualities of the treed ridgelines. Maintaining and enhancing avenues of street trees, as well as views of trees on private property from the street. Obscuring household services from street view. This precinct includes parts of the Greensborough Activity Centre. The landscaping and vegetated character of residential sites in this Activity Centre is guided by this policy. The

LOCAL P LANNING POLICIES – CLAUSE 22.02

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G. NEIGHBOURHOOD CHARACTER POLICY BANYULE PLANNING SCHEME

preferred future character of the built form on residential sites in this Activity Centre is guided by the Activity Centre Zone. Within the GRZ2 and NRZ3 These areas will protect and enhance the garden suburban character of the precinct with an emphasis on protecting trees and creating new opportunities for vegetation throughout sites. They will provide for a mix of well-designed single dwellings and medium density dwellings in garden settings, with space around and between dwellings to create an attractive, treed landscape setting. Within the GRZ1 These areas will accommodate change in a manner that retains and enhances the garden suburban character of the precinct. All developments will contribute to an enhanced treed environment, including opportunities for tree protection and planting, whilst providing for town houses and other medium density dwellings, as well as some dispersed single dwellings. Canopy trees and understorey vegetation will continue to contribute to the character of the area, particularly in front setbacks to reinforce the character of the street, and along rear boundaries to soften the interface between dwellings. The site coverage may be greater for sites in the GRZ1 as long as tree and vegetation protection is achieved. The treed and spacious feel of the streetscape character will be retained and enhanced by ensuring front setbacks are large enough to plant a large tree and other vegetation. Building heights may also be increased for these developments, with the higher components generally positioned to front onto the street, and recessed from the lower levels to reduce their visual prominence and provide space for tree canopies. Objectives and Design Responses Objective To ensure new buildings and extensions are sympathetic to the current building form and architectural style.

To ensure that household services are not a visually prominent feature.

To maintain consistency of current front setbacks whilst enable tree planting in front gardens.

LOCAL P LANNING POLICIES – CLAUSE 22.02

Design response

Where nearby dwellings are predominantly from the 1950 – 1960s era, incorporate the roof and plan forms of these buildings, in correct proportions and scale, ie.: low pitched, hipped roof forms with a second or third hipped roof fronting the street; narrow, boxed eaves.

Variation should be provided between each dwelling of a development that faces the street. This can be achieved through varied roof pitches, window and door placement, materials, façade articulation and other design detailing.

Solar panels should be located to minimise their visual impact. Air conditioning, rainwater tanks, bins and storage should be located and/or screened so they are not visually obtrusive in the streetscape.

In the GRZ1, rooftop plant equipment should be screened and/or located to minimise their visual impact and integrate with the roof form.

Dwellings should be setback in line with the predominant front setback of dwellings along the street.

In the GRZ1 only, a reduced front setback for new buildings (including basements) may be acceptable, if this respects the predominant front setback of nearby dwellings and supports the planting and future growth of a large tree to maturity.

For corner sites, the front setback of a dwelling facing the side street should be at a transition between the predominant setback along the side street, and the side setback of the dwelling facing the front street.

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APPENDIX

H. DSR SCORE

APPENDIX

H. DSR SCORE