Background
Hunter Central Coast Development Corporation (HCCDC) required property economics input to help shape the future of its Cockle Creek site at Boolaroo, within the Lake Macquarie local government area. The work was commissioned to test the economic viability of potential rezoning and development pathways for a centrally located 12-hectare landholding, including employment land and residential scenarios, and to support more informed strategic planning for the site.
Complexity
The engagement involved a number of intersecting planning and market considerations, including:
- Assessing the relative feasibility of multiple future land use scenarios across the one site
Balancing employment land outcomes with a range of residential density options
• Testing development pathways in a location influenced by broader market and rezoning considerations
• Considering affordability and social housing as part of the economic assessment
Solution
EPS undertook a property economics study designed to provide a practical evidence base for future rezoning and development decisions. The work focused on comparing land use options in a way that was commercially grounded and useful for strategic planning.
- Scenario testing: Assessed multiple future land use scenarios, including employment land and varying residential densities
- Economic viability analysis: Reviewed the relative economic viability of each option to identify realistic development pathways
- Strategic land use advice: Provided advice to support future rezoning considerations and broader development planning
- Housing considerations: Included affordability and social housing factors within the analysis to inform more balanced decision-making
The study was prepared to support clear discussion with the client around trade-offs, assumptions and potential development directions, helping HCCDC move forward with a stronger understanding of the site’s opportunities and constraints.
Impact
The work provided an economic foundation for future strategic decisions about the site.
- Informed consideration of rezoning and development opportunities for the Cockle Creek landholding
- Provided a clearer basis for comparing employment and residential land use outcomes
- Supported more transparent decision-making through structured viability analysis
- Helped incorporate affordability and social housing considerations into early strategic thinking
Image Source: HCCDC, https://www.hccdc.nsw.gov.au/cockle-creek
