Bankstown Development Proposal by pjun_hao

BANKSTOWN CBD DEVELOPMENT PROPOSAL Sanjna Raisinghani | Sai Si Thu Htet | Maithila Bandem | Jun Hao Pam | Vedant Shinde

ACKNOWLEDGEMENT TO COUNTRY We acknowledge the Traditional Custodians of the Land and the country of the Darug people of the Eora Nation. We pay our respects to the Elders past, present and emerging for they hold the memories, traditions, culture and the hope of Indigenous Australians. We recognise and respect their cultural heritage, beliefs and relationship with the land and understand these elements are of continuing importance to Aboriginal and Torres Strait Islander people living today.

TABLE OF CONTENTS 1 Introduction

2 Literature Review

2.1 Strategic Pathways to Affordable Housing

2.2 Affordable Housing Demand

2.3 Strategic Objectives for Inclusive Living

2.4 Navigating Economic Realities

2.5 Implications & Conclusion for Future Housing Strategies

3 Site and Context Analysis

3.1 Site Analysis

3.2 Historical Analysis

3.3 Demographic Analysis

4 Planning Context 4.1 Regional Scale

8 8

4.1.1 Greater Sydney Region Plan

4.1.2 South District Plan

4.2 District Scale

4.2.1 Local Environmental Plan

4.2.1.1 Land Zoning

4.2.1.2 Height of Buildings

4.2.1.3 Floor Space Ratio

4.2.2 Development Control Plan

4.2.2.1 Setbacks

4.2.2.2 Active Frontages

4.2.3 Bankstown Masterplan

4.3 Local Scale

4.3.1 Bankstown Community Strategic Plan CBCity

4.3.2 Draft Housing Strategy

4.3.3 Draft Affordable Housing Strategy

4.4 Planning Context Conclusion

5 Development Proposal

5.1 Land Acquisition

5.2 Concept Development

5.3 Proposal & Feasibility

5.4 Impact on Bankstown

6 Conclusion

7 References

1 INTRODUCTION The role of housing extends beyond mere infrastructure, serving as an instrument for nation-building influencing economies, societal dynamics and community welfare in city life. In the wake of the 20th century's societal shift towards homeownership as the predominant form of tenure, the concept of 'housing need' has surged to the forefront of national discussion, particularly within the Canterbury-Bankstown Region. As burgeoning employment facilities and commercial hubs propel districts towards economic resilience and diversity, rising housing stress calls for strategies that are both socially relevant and financially feasible to address the growing unaffordability of housing and the socio-economic disparities that are formed by class-based processes. Abiding under the 2015 DCP and LEP planning controls, this report presents a strategic vision for affordable housing solutions in Bankstown, one that responds to demographic needs and market realities that disproportionately affects lower-income cohorts. The analysis is dedicated to demonstrate the role of affordable housing as tools to achieve a balanced residential ecosystem and calls upon stakeholders and developers to engage in strategies that are both socially inclusive and economically sustainable. It posits that the trajectory of urban development must not only be financially sustainable but also integrative, ensuring that Bankstown’s current development trajectory supports inclusive growth and social welfare.

2 LITERATURE REVIEW 2.1 STRATEGIC PATHWAYS TO AFFORDABLE HOUSING: EVALUATING FEASIBILITY AND COMMUNITY IMPACT

The Canterbury-Bankstown Council’s pursuit to balance urban development with social initiatives

KEY DETAILS

calls for the strategic development of affordable

Address

264, 260 & 258 South Terrace, and 1 West

housing in Bankstown. This review investigates the

Number of Lots

4 amalgamated lots

feasibility of affordable housing initiatives whilst

Zone

B4 Mixed Use

reflecting on the intricate dynamics that contorts

Land Area

694 sqm, 808 sqm, 1211 sqm and 590 sqm

Existing Use

Retail

Bankstown’s housing landscape, delving into affordability issues that contribute to structural

Table 1. Key Details of Bankstown Site

inequalities that impact household well-being. 2.2 AFFORDABLE HOUSING DEMAND AND BANKSTOWN'S EMERGENCE AS A HUB OF URBAN PROGRESS

As part of the Canterbury-Bankstown LGA within Central River City, Bankstown’s housing landscape is undergoing a dynamic transformation marked by urban renewal and infill developments, characterizing the district as “diversified and economically resilient” following the South District Plan (Greater Sydney Commission, 2018, p. 3). The gradual shift driven by economic catalysts, notably the Sydney Metro City & Southwest project and the Bankstown Airport trade gateway facilitates the transit of 40,000 commuters across the CBD, increasing network services by 60% (Sydney Metro, 2018). This development reinforces Bankstown’s evolution as a transient area, attractive to diverse population from young professionals to families seeking urban convenience and community-centric living, necessitating 12,500 additional dwellings in the city center to accommodate the growing population (Canterbury Bankstown, 2020).

Furthermore, the aforementioned transport networks sparks the creation of population-serving jobs (retail and construction), making up 36% of Bankstown’s occupation sector with the growth of new business activities and expansion of trade. As the Sydenham to Bankstown region becomes an active working destination, the projected influx of 10,000 direct and 70,000 indirect jobs (Sydney Metro, 2023) increases demand housing, predominantly affordable options for workers and families seeking residence nearby their place of employment.

Table 2. Sydney UMF Results Market Capacity v Projected Dwelling Demand 2011-2036. Department of Planning and Environment. (2016). NSW, Government, Sydney. https://www.planning.nsw.gov.au/sites/default

Table 3. Dwelling Take-up Forecast (to 2036). Department of Planning and Environment. (2016). NSW, Government, Sydney. https://www.planning.nsw.gov.au/sites/default

2.3 STRATEGIC OBJECTIVES FOR INCLUSIVE LIVING IN BANKSTOWN'S HOUSING MARKET

Projections for 2036 indicate a housing demand of 11,077 dwellings, with a take-up forecast of 12,640, indicating a potential surplus that could be leveraged to address affordable housing needs (Department of Planning and Environment, 2016). This surplus aligns with the Greater Sydney Commission's advocacy for inclusionary zoning, a policy tool that mandates a certain percentage of new developments to be allocated for affordable housing, thus distributing the benefits of growth equitably (refer to Table 2 and 3). This is important to ensure that housing schemes are well-distributed, to make room for a diverse rental landscape including affordable housing which is integral to Bankstown's growth narrative, especially for lower to middle-income earners (Greater Sydney Commission, 2018).

Bankstown's strategic aims, in light of the increasing demand for housing is underpinned by a commitment to inclusivity and diversity whereby affordability is considered throughout the development process and not simply just an afterthought. Within the Canterbury Bankstown Housing Strategy (2020), the guiding principles extends beyond meeting quantitative targets and aims to enrich the quality of life for all residents through the provision of affordable and suitable housing options, illustrating Bankstown’s priority to consider social factors within development (refer to Figure 1).

New housing will need to provide a

GUIDING PRINCIPLES

variety of dwelling types, sizes and price points to meet the needs of a diverse and aging population.

More affordable housing is

necessary to support the community and reduce

The transition of Bankstown

housing stress.

to a contemporary CBD will increase the diversity of housing in the City.

Figure 1. Adapted diagram of guiding principles of the housing strategy. Canterbury Bankstown. (2020). Housing Strategy. http://webdocs.bankstown.nsw.gov.au.

2.4 NAVIGATING ECONOMIC REALITIES: FINANCIAL FEASIBILITY OF AFFORDABLE HOUSING INITIATIVES

The financial viability of affordable housing in Bankstown plays on balancing profitability of housing against demographic needs. The Sydenham-Bankstown Corridor Dwelling Take-Up Analysis by the Department of Planning and Environment (2016) illustrates the impacts of high construction cost to the deliverability of affordable housing. The report cautions that without judicious planning and a deep understanding of market forces, the push for density could inadvertently undermine affordability, due to increased land values and construction cost leading to gentrification of areas. This necessitates policies including inclusionary zoning, whereby in region scale plans its 5-10% of development is dedicated towards affordable housing and 15% in local strategic plan (Canterbury Bankstown, 2020). To lower costs for developers, government incentives, such as tax credits, play a crucial role in encouraging the development of affordable housing. Governments can also fund housing through the increased land value from public investments like the Sydney Metro City & Southwest project to ensure that affordable housing initiatives are financially feasible and stay within the feasibility margin of 10-15% (refer to table 4). Developers can also look into creating higher density apartments, through increased building heights to meet these thresdholds.

Table 4. Industry Standard Performance Indicators. Canterbury Bankstown. (2020). Draft Affordable Housing Strategy: Background Report. https://hdp-au-prod-app-cbnks-haveyoursay

2.5 IMPLICATIONS AND CONCLUSION FOR FUTURE HOUSING STRATEGIES

At core, as new developments continue to alter Bankstown’s rental landscape, inclusive housing initiatives become integral throughout all parts of the planning process. Evaluating the success of affordable housing projects in Bankstown requires clear and intuitive metric that considers not only the number of affordable units delivered but also the quality of life improvements for residents and the broader socio-economic impacts on the community. Hence, the focus of infrastructure provision should skew from network-based services to place-based service to cater to the unique needs of communities as opposed to providing a ‘one-size-fits-all’ solution. This illustrates the significance of localizing service delivery to better meet the specific needs of Bankstown and its residents. Thus, developers should not overlook affordable housing initiatives in the pursuit of monetary gains, as commitment to inclusive housing can greatly enhance living conditions and foster social cohesion.

3 SITE AND CONTEXT 3.1 SITE ANALYSIS On a larger scale, Bankstown CBD is situated at the heart of Canterbury Bankstown Local Government Area, where urban revitalization and infill development are gaining momentum (Canterbury Bankstown, 2020). It is part of a larger on-going redevelopment project that stretches across the Sydenham-Bankstown renewal corridor that proposes a 39,500 additional dwellings by 2036 (Greater Sydney Commission, 2018). Currently, Bankstown CBD predominantly comprises medium-to-high-rise residential buildings and high-rise mixed-use structures, resulting in a high skyline. This not only reflects the population density of the area but also encourages developers to envision a harmonious neighborhood aesthetic, acting as precedent for redevelopment projects.

BANKSTOWN BALANCE

BANKSTOWN CBD

20,998 Residents

14,516 Residents

Figure 2. Zoning in Bankstown by Typology

The site is currently occupied by fragmented low density commercial and retail buildings and a function center (Figure 3) with a high street facing north of the site, running parallel to the train station. These establishments are nearing its end of economic use due to its rather old building conditions. As such, the site presents an opportunity for a higher density expansion to replace the existing setting. In addition, strategic implementation of pockets of greenery would provide improved connectivity for residents and pedestrians. Notably, open green spaces are pockets of greenery within an urban landscape that aims to promote and foster overall health and social well-being. However, the importance of green spaces is often neglected as the increased developmental pressures eclipses any consideration of green open space contributions to quality of life (Diaz et al., 2006; Gret-Regamey et al., 2013), deteriorating the ecological integrity of cities as they erode from the urban core.This trend is palpable in Bankstown, where the highdensity infrastructure catering to the burgeoning population has left little room for open green spaces that residents can utilize and enjoy. Currently, the only publicly accessible green spaces are Bankstown Oval and Bankstown City Gardens, located to the south of the area, but their accessibility via walking and cycling remains limited. The site analysis has unveiled several promising prospects for forthcoming development initiatives. These opportunities encompass revitalizing the high street to strengthen Bankstown CBD's status as a thriving commercial centre, thereby reinforcing its identity. Furthermore, the construction of new high-rise and medium-rise housing is highly fitting for Bankstown CBD, given its prime location and compatibility with the surrounding infrastructure. Nonetheless, it's imperative to weigh the site's limitations and vulnerabilities in order to ensure the project's social sustainability and economic viability.

Figure 3. Rented household’s cost > 30% of income.

3.2 HISTORICAL ANALYSIS Bankstown is a suburb with a rich historical backdrop that significantly influences its current form. Following World War II, Bankstown experienced a remarkable surge in population. The presence of military infrastructure, along with affordable land prices and a variety of housing options, enticed new waves of migrants including Vietnamese and Lebanese ethnic groups. People from diverse backgrounds relocated from the inner city and have since firmly established themselves in the Bankstown community. In the latter half of the 20th century, Bankstown City transformed into a vibrant hub for retail and civic activities in the region. This growth led to the establishment of pivotal institutional developments, drawing in not only residents but also workers and visitors from Bankstown and its surrounding areas. Consequently, today, Bankstown's population is exceptionally diverse, with over 16,500 residents and thousands more who either work or study in the area, creating a tapestry of ethnicities and cultures. The large volume of young demographics predominantly aged 18-24 years contributes to the high proportion of rented properties for 54.8% of residences, as large volumes of people move and migrate across the region (City of Canterbury Bankstown, 2021; Kalali, 2021). Projections by the Canterbury-Bankstown Council have identified housing demand to require at least 39,500 additional dwellings by 2036 (Greater Sydney Commission, 2018).

3.3 DEMOGRAPHIC ANALYSIS The population of Bankstown CBD is notably youthful, with a median age of 32, and it represents a diverse spectrum of ethnicities, as previously mentioned. Among this population, approximately 47% are gainfully employed, with 50% working full-time and an additional 30% in part-time positions. Despite this significant workforce presence, data from the 2021. Census reveal that a higher proportion of households in Bankstown experience housing stress compared to the Greater Sydney average (11.8%). In fact, as per the Bankstown City Centre Masterplan (2021), nearly 29.5% of households fall within the lowest 40% income bracket, paying more than 30% of their household income toward rent or housing repayments.

LEBANESE

AUSTRALIAN/ENGLISH

9.1%

VIETNAMESE

14.9%

CHINESE

14.4%

BENGALI

11.8%

5.7%

MEDIAN AGE

Figure 4. Ethnicity and Demographic Groups in Bankstown

As illustrated in Figure (5), this trend extends beyond the CBD, with most Bankstown residents dedicating over 30% of their household income to rent or mortgages. Within the site, as delineated in the range of 29.5% to 38.9%, a similar pattern persists. Furthermore, demographic analysis reveals that households in Bankstown CBD have a median income of ($1201), positioning them within the lower 40% of the Australian household income distribution (Australian Institute of Health & Welfare, 2021), with a median weekly rent of ($400). This highlights that the median household allocates over 30% of their income to rent, emphasizing the pressing need for affordable housing solutions in Bankstown CBD.

students, and migrant workers. This transient aspect is

further evident in the high rental rates within Bankstown

CBD, where 55% of households are renters, in contrast to

pe rs on s

serves as a temporary residence for young families,

or m or e

transient nature of Bankstown CBD, where it predominantly

pe rs on s

individual. This demographic pattern underscores the

pe rs on s

Canterbury Bankstown LGA

additional 25% of households are occupied by just a single

Bankstown CBD

pe rs on s

majority consisting of only two persons per household. An

pe rs on s

Household sizes in Bankstown are notably compact, with the

1p er so n

Figure 5. Rented household’s cost > 30% of income.

the City of Canterbury Bankstown with a lower rate of 36%.

Figure 6. Household size.

To ensure the success of redevelopment efforts within Bankstown CBD, a delicate balance must be struck between capitalizing on site opportunities and addressing constraints, while also considering demographic needs in order to improve living conditions and nurture social cohesion.

$1201

MEDIAN WEEKLY INCOME

$400 MEDIAN WEEKLY RENT

$399

MEDIAN WEEKLY MORTGAGE

29.5%

OF PEOPLE IN HOUSING STRESS

Figure 7. Housing cost and housing stress.

4 PLANNING CONTEXT This section offers a comprehensive structure for housing provision within the chosen Bankstown site. It aligns with the methods and tactics established by regional, district, and local-scale policies and goals. The approach of this project and its alignment with Council's strategic planning framework are depicted below.

GREATER SYDNEY

SOUTH DISTRICT PLAN

REGION PLAN

LOCAL ENVIRONMENT

LOCAL STRATEGIC PLANNING

DEVELOPMENT CONTROL

PLAN

STATEMENT

PLAN

COMMUNITY STRATEGIC PLAN

DRAFT HOUSING STRATEGY

DRAFT AFFORDABLE HOUSING STRATEGY

Figure 8. Industry Standard Performance Indicator

4.1 REGIONAL SCALE 4.1.1 GREATER SYDNEY REGION PLAN (2018) The Greater Sydney Commission’s Greater Sydney Region Plan envisions a city where the majority of residents can access their workplaces, educational institutions, healthcare facilities, services, and recreational areas within a 30minute commute. This plan outlines 10 Directions that define the region's goals for the next four decades. These directions are translated into objectives, with Objectives 10 and 11 focusing on housing supply, diversity, and affordability for Canterbury Bankstown Council. The Greater Sydney Region Plan aims to fulfil the community's evolving demands by setting targets for housing supply and choice. The Greater Sydney Region Plan proposes affordable rental housing targets in the range of 5-10 percent of new residential floor space, subject to viability.

4.1.2 SOUTH DISTRICT PLAN (2018) Canterbury Bankstown falls under the South District Plan of the Greater Sydney Commission, which is a 20-year strategy designed to address growth while considering economic, social, and environmental factors in alignment with Greater Sydney's 40-year vision. The South District Plan outlines a housing goal of adding 23,250 more dwellings to the District by 2021, with 13,250 of these intended for Canterbury Bankstown LGA. As per the South District Plan, the implied dwelling demand for Canterbury-Bankstown is set at 58,000 new dwellings by 2036.

4.2 DISTRICT SCALE 4.2.1 LOCAL ENVIRONMENTAL PLAN (2023) The Local Environment Plan (LEP) for the Bankstown precinct serves as a crucial framework for guiding land use and primary development characteristics in Canterbury-Bankstown. This Plan aims to establish local environmental planning provisions in accordance with the relevant standard environmental planning instrument under section 3.20 of the Act. The specific objectives of this Plan encompass a broad spectrum of priorities and goals, ensuring that the precinct's cultural sensitivity, sustainability, natural and built heritage, and Indigenous qualities are recognized, safeguarded, and preserved. The particular aims of this plan are multifaceted. They include prioritising a diverse range of residential accommodations that cater to the evolving needs of the population and aiming to create vibrant town centres by concentrating employment and residential uses around existing and public transport hubs. The provision of recreational and community service opportunities, as well as open spaces, is crucial to meeting the needs of residents and the general population alike. Overall, the LEP aims to achieve good urban development by addressing site layouts, building form and how the development can contribute to the existing streetscape to ultimately make room for further development on the site as the population continues to grow.

4.2.1.1 LAND ZONING The site to be developed sits within a B4 Mixed Use Zone as much of the surrounding context around both the site and station precinct do. The primary objectives of this land zoning are to facilitate a blend of compatible land uses and to seamlessly integrate residential, retail and business developments. This enhances walkability and connectivity, particularly through public transport, between each development. EXISTING DEVELOPMENTS

B4 MIXED USE

Figure 9. Land Zoning Map, Bankstown LEP (2015) https://www.planningportal.nsw.gov.au/publications/environmental-planning-

This reinforces Bankstown's role as a strategic centre in the corridor and more broadly in the South District.

instruments/bankstown-local-environmental-plan-2015

4.2.1.2 HEIGHT OF BUILDINGS Across the site, the maximum allowable height varies from 38 metres throughout the majority of the lots and 35 metres at the southern edge adjacent to Raymond Street. These heights ensure the development is not only consistent with the landforms in the area, but that there are appropriate height transitions between each block and more importantly at zone boundaries. 3:1

2:1

Figure 10. Height Of Buildings Map, Bankstown LEP (2015) https://www.planningportal.nsw.gov.au/publications/environmental-planninginstruments/bankstown-local-environmental-plan-2015

4.2.1.3 FLOOR SPACE RATIO To

preserve

the

bulk

and

maximum

density

developments, encourage lot consolidations in commercial centres and ensure that development, especially nonresidential components, are compatible with the existing suburban

character

and

amenities

and

that

neighbouring residential zones, a Floor to Space ratio of 3:1 established across the site. While it is stated that this 38M

35M

32M

29M

17M

Figure 11. Floor Space Ratio Map, Bankstown LEP (2015) https://www.planningportal.nsw.gov.au/publications/environmental-planninginstruments/bankstown-local-environmental-plan-2015

ratio is not to be exceeded, the amount of housing needed to satisfy the rapidly growing population within the boundaries of each site requires this value to be increased so as to accommodate larger groups of residents. This is looked at in further detail in the Bankstown Masterplan.

4.2.2 DEVELOPMENT CONTROL PLAN The Canterbury-Bankstown Development Control Plan 2023 contains detailed requirements for setbacks and active frontages. These are outlined in the maps below. Other information regarding well-detailed shopfronts with pedestrian entries at least every 10m–15m, canopy plantings every 12m of front and rear boundary width can be considered at a later stage of the development proposal. Important documents to look at include (but not limited to): Chapter 3.2 - Parking, Chapter 3.3 - Waste Management, Chapter 3.4 Sustainable Development, Chapter 3.7 - Landscape, Chapter 5.1 - Former Bankstown LGA and Chapter 6.2 - Bankstown City Centre.

Figure 12. Site Set-backs. Canterbury Bankstown DCP. (2023).

Figure 13. Active Street Frontage. Canterbury Bankstown DCP. (2023).

http://webdocs.bankstown.nsw.gov.au.

4.2.2.1 SETBACKS

4.2.2.2 ACTIVE FRONTAGES

The DCP requirements show nil setback

According to DCP it is essential to retain the

requirement for the site.

ground and first floors as commercial and retail floor space to create active street frontage.

4.2.3 BANKSTOWN MASTERPLAN Bankstown's City Centre Master Plan is dedicated to making the area more livable, sustainable, and attractive. It aims to draw in more people for various purposes and sets the stage for a health, academic, research, and training precinct. Key drivers addressed include job growth, housing affordability, a growing population with diverse needs, sustainability, and resilience. The plan focuses on infrastructure,job growth, public spaces, transport, sustainability, heritage, culture, housing, and governance, with an emphasis on creating people-friendly streets and maximising public transportation connectivity.

INDICATOR

DESCRIPTION

VARIANCE FROM EXISTING REGULATIONS

Directions

There are 10 Directions in the Masterplan

2 new directions from the 2036 plan -

that relate to those in the Connective City

Direction 3, A Vibrant City of Commerce,

2036, and that relate to 7 strategic

Health and Education and Direction 8, A

directions for the CBCity 2028 Community

Centre Proud of its Heritage and Culture

Plan Building Intensification

It is recommended that development on

Height and FSR Uplift from the LEP

site is intensified in order to to deliver on the master plan’s key directions Inclusion of Affordable

The Master Plan suggests 15% affordable

Housing

housing set by Connective City 2036 or the

Less than amount stated in plans

5-10% in the South District Plan at this time, and instead that it should be 3% of gross floor area in residential developments as justified by feasibility testing City Centre and

Designed to be a high density centre of the

Character

CBD, the City Centre is designed to align

Aligns with overall plans and strategies

with Direction 2 - A centre for people - by celebrating the character of the existing site. The spaces are to take on a more industrial

feel

with

pedestrian

networks that connect the key employment and retail hubs. Zoning

The site is to retain its existing zoning as a

No change from LEP Land Zoning

B4 Mixed use area Building typology

Site to have Street Wall and Tower Podium

New typology appropriate for

Towers proposed to achieve a higher level

recommended intensification

of intensification, to accommodate a variety of uses and to carefully consider pedestrian amenity

INDICATOR

DESCRIPTION

VARIANCE FROM EXISTING REGULATIONS

Building Height

Up to 22 storeys = 108 RL

Increased from max 38 RL (approximately 12 storeys)

Figure 14. Proposed Building Heights, Canterbury Bankstown Masterplan. (2021). https://www.cbcity.nsw.gov.au/development/planning-for-the-city/masterplans/bankstown-city-centre-master-plan

Setbacks

3-5 metres from street level and 6 metres

Increased from DCP

upper storey setback

Figure 15. Proposed Setbacks, Canterbury Bankstown Masterplan. (2021). https://www.cbcity.nsw.gov.au/development/planning-for-the-city/masterplans/bankstown-city-centre-master-plan

Frontages

To become more activated

Consistent with DCP

Figure 16. Proposed Active Facades, Canterbury Bankstown Masterplan. (2021). https://www.cbcity.nsw.gov.au/development/planning-for-the-city/masterplans/bankstown-city-centre-master-plan

Table 5. Comparison of the Bankstown Masterplan to existing regulations, maps adapted from LEP documents https://legislation.nsw.gov.au/view/html/inforce/current/epi-20230336#pt

4.3 LOCAL SCALE 4.3.1 BANKSTOWN COMMUNITY STRATEGIC PLAN CBCITY 2028 Canterbury Bankstown LGA's community strategic plan, CBCity 2028, was developed in 2018 after gathering substantial community feedback. This plan will direct investments in the social, cultural, and financial aspects to realize the vision of a thriving, dynamic, and authentic city. This plan suggests 15% of all new development in growth precincts to be affordable housing.

4.3.2 DRAFT HOUSING STRATEGY Canterbury Bankstown is aiming to deliver 50,000 new dwellings by 2036 to meet housing demand. From this 12,500 are to be delivered in Bankstown City Centre, and this project will contribute to this target.

Table 6. Housing growth distribution. Canterbury Bankstown. (2020). Draft Housing Strategy: Background Report. https://hdp-au-prod-app-cbnks-haveyoursay

4.3.3 DRAFT AFFORDABLE HOUSING STRATEGY Regarding planning proposals, there is a proposal to modify the Planning Agreement Policy to align with the Ministerial Direction from March 2019. This would involve incorporating a requirement for a 5% affordable housing contribution for planning proposals that result in increased density or more than 1,000 sqm of residential floor space, unless otherwise agreed upon with the Council. An alternative rate can be negotiated, considering feasibility testing and the presence of other public benefits.

4.4 PLANNING CONTEXT CONCLUSIONS The array of plans and regulations governing Canterbury Bankstown's development underscores the commitment to creating a sustainable and thriving community. The Greater Sydney Region Plan and the South District Plan, with their ambitious housing targets and a focus on affordability, set the stage for a city where residents can enjoy a 30-minute commute to essential facilities. These plans recognize the necessity of feasibility testing, acknowledging that affordable housing is a dynamic challenge. Across the 8 existing planning documents analysed, it can be seen that the intent is to work towards maintaining the site character through incremental intensification and allowing a maximum of 12 storeys across the 4 lots and a maximum FSR of 3:1. Within these frameworks, aiming to activate frontages and maintaining no setbacks from site boundaries for commercial developments as outlined in the DCP, including affordable housing in such a prime location gives rise to an uncertainty surrounding profitability that can only be resolved through feasibility testing. This is especially important as the target inclusions for affordable housing vary from: 5-10% in The Greater Sydney Region Plan; Upto 15% in the Local Strategic Planning Statement and Community Strategic Plan; and 5% in the The Draft Affordable Housing Strategy. On the contrary, the Bankstown Masterplan contests these regulations, going as far as mentioning that only 3% is an achievable level of inclusion, and that the building height and FSR will need to be uplifted to address a shortfall in supply and to meet the rising market demand. Thus to ensure the proposed development is capable of meeting the evolving community’s needs, to preserve the site’s character and to reach a financially feasible proposal, a holistic approach that analyses regulations governing development characteristics and affordability targets is required where a balance between aspirations, practical constraints and the application of each regulation is reached.

5 DEVELOPMENT PROPOSAL 5.1 LAND ACQUISITION

To address the urgent housing need in Bankstown CBD, this development proposal aims to construct a mixed-use residential estate to cater for the growing population of Bankstown CBD as well as allocating a percentage towards affordable housing. On ground level, a commercial hub will be implemented to attract and enhance overall social well-being while residential apartments sits above it. An assessment of two distinct proposals for this project: one developed within the existing planning regulations (LEP 2023 & DCP 2015) and another designed in compliance with the new Bankstown Masterplan Proposed Regulations. This approach will help illustrate the feasibility of the project and its potential to address the housing needs of the community effectively. As demarcated in the site plan, this project will amalgamate 4 lots to erect a residential estate above them. Table 7 provides a breakdown of the lot details including the associated land values as per market value that developers will need to acquire for the project. The combined acquisition cost for the entire site amounts to $12,740,000, providing the opportunity for development across a 3,410 sqm area.

Figure 17. Amalgamated Lots to be developed

ADDRESS

TITLE DETAILS

SITE AREA

LAND VALUE

264 South Terrace

2/DP 525239

694 sqm

$2,880,000

260 South Terrace

3/DP 525239

808 sqm

$3,310,000

258 South Terrace

1/DP 735613

1211 sqm

$3,980,000

1 West Terrace

1/DP 524669

590 sqm

$2,570,000

3410 sqm

$12,740,000

TOTAL

Table 7. Amalgamated Lots

The site analysis indicates its suitability for redevelopment due to the presence of low-density, fragmented commercial buildings that are nearing the end of their economic viability. Consequently, the site's prime location offers advantages to both current landowners and developers. Land values are elevated, making it more attractive for developers to acquire, as landowners are increasingly willing to sell at higher rates.

5.2 CONCEPT DEVELOPMENT Driven by demographic and market demands while adhering to site constraints and regulations, the development seeks to enhance density through increased FSR and building height. A key focus within the residential apartments lies in the allocation of one-bedroom and two-bedroom units, addressing the prevailing needs of the majority of the population. Additionally, a portion of the apartments is designated for affordable housing, to slightly alleviate the housing crisis in the suburb. The ground floor is designated for a commercial hub and open green space to promote social well-being and enhance site connectivity. Guided by these design principles, two proposals have been formulated to assess the project's feasibility.

5.3 PROPOSAL & FEASIBILITY As depicted below, Proposal 1 complies with the existing LEP and DCP planning controls, which impose a FSR limit of 3:1 and a building height restriction of 38 meters. Despite the addition of 100 new units, the overall feasibility of the project is not financially feasible, given that the development margin stands at -14.2%. This is primarily because the market rates for new apartments do not offset the substantial development costs, including construction expenses, land acquisition, and consultancy fees, among others. Furthermore, the allocation of 10% of apartments for affordable housing results in a more substantial discount, ultimately leading to a net loss in profits for the developers. Alternatively, the second proposal aligns with the new regulations outlined in the Bankstown Masterplan, which permits higher FSR and building height. This proposal entails the construction of a 15-storey building, encompassing 14 residential levels and a ground-level commercial hub, featuring a total frontage of 133 meters. The residential apartments situated above have a minimum setback of 5 meters, with each floor covering an area of 760 sqm and accommodating a variety of residential units, differing in bedroom types. From a developer's perspective, Proposal 2 is not only financially viable but also provides significant social and economic benefits for the suburb. With 150 residential units, including 20 units for affordable housing across 2 floors, the project yields a development margin of 21.6%, exceeding the 16% threshold, ensuring its viability and feasibility.

1 BR 2 BR

2 BR

3 BR

2 BR 3 BR

1 BR 2 BR

Through Links

Figure 18. Proposal 2 Development Massing

INDICATOR

PROPOSAL 1 (WITHIN PLANNING CONTROLS)

PROPOSAL 2 (ADHERING TO MASTER PLAN)

Site Area

3,410 sqm

No Change

Proposed land

Medium-High Density Mixed Use

High Density Mixed Use

FSR

3:1

4.11:1

Total Floor

10,230 sqm

14,030 sqm

Building Height

38 m

50m

Proposed

Mixed Use - 11 Storey

Mixed Use - 16 Storey

Project

Ground Floor Retail, 10 floor residential

Ground Floor Retail, 15 floor residential

Building Area

Commercial : 2,630 sqm

Residential : 7,600 sqm

Residential : 11,400 sqm

1 BR : 30

1 BR : 45

2 BR : 50

2 BR : 75

3 BR : 20

3 BR : 30

100 units

150 units

Affordable

10 %

13.3 %

Housing

(10 units, 1 floor)

(20 units, 2 floors)

Development

-12.7 %

21.6%

Margin

(Not Viable)

(Viable)

Use

Area

Yield

Total Yield (AFFORDABLE HOUSING included)

Contribution

Table 8. Proposal Chart

Table 9. Feasibility Calculation

5.4 IMPACT ON BANKSTOWN The proposed development seeks to alleviate the substantial housing demand in Bankstown. However, the inclusion of 150 residential dwellings makes only a minor contribution to the mounting demand, accounting for just 1.76% of the market capacity. Within the context of Bankstown CBD, these additional dwellings alleviate a mere 2.98% of the overall market demand. Similarly, even with the allocation of 20 units priced 20% below the market rate to promote housing affordability, the project serves only 1% of households experiencing housing stress. It is evident that despite a redevelopment project that is financially viable redevelopment project with a focus on enhancing circulation and overall social well-being, the housing crisis remains largely unaddressed. This underscores the urgent necessity for additional redevelopment projects that allocate a greater number of units to affordable housing, ensuring that local families and residents are not displaced and can continue to afford to live in Bankstown.

6. CONCLUSION In conclusion, the strategic development of affordable housing requires careful consideration of economic viability and social equity. Bankstown as a growing district, spurred by economic catalyst including infrastructural and transport enhancements calls for a sustainable approach to housing development to ensure affordability amidst rising land values. The proposal is a 15-storey mixed-use residential estate that consists of 150 apartments of which 20 units are allocated for affordable housing. On ground level, a commercial hub and green open space is implemented to improve overall connectivity and enhance the socio-economics of the site. This project is projected to have a 21.6% development margin, presenting itself as a viable option that exceeds the 16% viability threshold. Nonetheless, the housing crisis in Bankstown remains a pressing concern, as this development project addresses only a mere 2.98% of the market capacity and provides relief to just 1% of households experiencing housing stress. The report calls for careful consideration of market forces as the push for density could lead to adverse results and unaffordable house prices, due to increased construction cost, land values leading to the gentrification of areas. Thus, the proposal utilizes inclusionary zoning, whereby 13.3% of development is dedicated towards affordable housing. At core, the proposal pitches a financially viable housing solution for developers whilst prioritizing demographic needs to foster inclusive and socially cohesive living.

REFERENCES (This report utilizes the Harvard referencing format)

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