Overview
Generally, it is observable that the site of the proposed Centennial Plaza appears to be flanked by two main areas or hubs. Observably, these mainly include the Central Station as well as the Surry Hills. This geographical placement generally provides a free development space, offering adequate construction machinery as well as vehicular movement around the property under development.
Geographically, the site is established directly northwest of the Central Station with Elizabeth Street to the West, Albion Street to the North, Mary Street to the East and Foveaux Street to the South. The proposed plaza constitutes three medium rise towers. The plaza has space within its three features. This acts as a communal space. Additionally, adequate parking space (basically an underground parking slot) would remain critical for harboring the great volume of automobiles flowing into the plaza.
An effective traffic management system would be appropriate to minimize the occurrence of accidents as well as unnecessary traffic jams and congestions within the area or parking lounge. It is vital to note that the proposed property will form part of the “City Edge Precinct.”
This is basically because it is located very close to the western edge of the Surry Hills. Generally, it is observable that this surrounding has been experiencing a rapid process of modernization and development over the last years. Due to this, the place is a potential source of modern and vibrant entertainment joints, with a variety of bars as well as restaurants.
Notably, this surrounding has increasingly changed the immediate areas into principal business zones. This is particularly for purposes of complying with the modernization of the Sydney CBD, which is the adjacent area. Observably, the proposed property site also remains encircled by major hubs such as the Central Station, China Town, UTS and Sydney CBD.
The accessibility of the site plays a vital role in the enhancement of the development process. It is noticeable that the site is highly accessible. This is owed to its strategic location or placement next to the central station. This is a terminus where all the interchanges for all trains as well as buses from the suburban lines together with the country side lines are located.
On the transport, system, a critical observation potentiates a more accessible area, served with adequate public transportation aids. Generally, the public transport access throughout the Sydney town from the central station and bus interchange is extensive. Generally, it is observable that in consideration of all the surrounding physical factors and accessibility, the proposed site for the Centennial plaza, 300 Elisabeth Street remains the most strategic building within Sydney.
Methodology
A comprehensive understanding of the proposed project area is critical for the development an effective recommendation suitable for all stakeholders. As specified in this task, the expert carried out a real site exploration during the beginning of the study for purposes of context analysis.
Among some of the operations that were conducted herein include figure ground, topography, accessibility, existing function as well as vehicular traffic issues. Real time personal observations and interviews were mounted based on the existing structures as well as amenities within the surrounding area.
To aid the feasibility studies, a thorough investigation from the internet and literature reviews on the various approaches for sustainability report in the real estate sector was also conducted. A relational approach was also applied in the comparison of the diverse possible project alternatives for the client within the same area. Additionally, structural differences and their coherence to the intended purposes was a critical analysis tool.
Figure Ground Analysis
The physical exploration of the proposed site of property development clearly indicates that the site is located within the intersection between City Central and Surry Hills. Despite the fact that Surry Hills has considerably experienced notable developments and modernization, certain principal developments majorly concentrates on the business sector.
The fine grained Surry Hills (to the east) is made up of predominately small to medium building footprints. Also, further down to the north part of the site is mainly composed of bigger buildings. Furthermore, there is a general observation of limited open spaces as well as constrained pedestrian friendly.
Centennial Plaza Directions
Access to the Site (Google Maps)
Top view of the Site (Google Maps)
Building Heights
The particular buildings of the proposed property are to be different in heights. Ideally, the proposed property has to bear three towers, with the third tower (Tower C) with the tallest height of approximately 17 storeys high. On the other hand, the first tower, (Tower A) has the shortest height of approximately 14 storeys high.
It is vital to note that the proposed tower heights as well as their area of coverage remains in compliance to Sydney are building regulations as well as measures. In terms with the association with the urban context, these proposed towers nonetheless appear suitable if related or compared with the Sydney central business district, CBD context. Generally, the physical outlook and appearance of the proposed property remains magnificent as well as outstanding within the area.
This is particularly in comparison or relation to the Surry hills areas, which remain predominantly filled by residential as well as relatively short storey heights. It is thus critical to note that the outstanding height of the proposed property storey provide a significant uniqueness and opportunity for harboring a mirage of business processes or activities within the area.
Because of this competitive advantage, the proposed property would remain acumen of business and investment attraction, with the capacity to harbor several and diverse commercial activities at a time. This occurs significantly compared to the other properties within the surrounding or environs.
Projected Uses
Notably, some of the projected uses for the proposed building remain elementarily commercial, constituting of retail, as well hospitality joints. The cafes as well as restaurants shall particularly draw their customers from the people or population working on the towers as well as the general public. Offices to let for corporations as well as conference halls and hotels will be operated within the proposed structure or property.
Learning institutions may also form a critical component of the proposed property with an allowance for extensive lecture halls and offices. The surrounding environs will also bear an extensive variety of roles or functions. Several residential as well as a considerable number of retail activities will evidently exist to the east of the proposed site.
However, it is also significant to observe that the presence of a heavy network of public transportation to the west of the proposed property would provide a key point of accessibility to the site. This will aid development processes during construction and also lead to easy accessibility by clients as well as investors upon the completion and commissioning of the property.
There is a general observation that a large number of personalities from diverse backgrounds are bound to be connected to the proposed property. An equivalent physical outlook is evident to the north of the proposed property. This area evidently already is composed of major commercial properties as well as buildings, with great heights. This will serve to offer a competitive development advantage to the proposed development and even help in attracting more customers to the area for trade and investment.
Pedestrian and Vehicular Access
Generally, with the provision of adequate public transport points to the north of the proposed property site, there is bound to be a sufficient pedestrian as well as vehicular access to the notable areas. The rail terminus for instance provides a critical access point to the building and may lead to considerable business process improvement if the proposed property is fully operational.
It is also critical to note that there is bound to be an adequate traffic management system within the proposed property, with provision of efficient and adequate parking range. This will assist in the minimization of vehicular accidents as well as unnecessary traffic jams along the major access lines. The pedestrian traffic will mainly be located on the plaza level. This is because the pedestrians from the intersection of Foveaux Street and Chalmers Street will use the plaza as a short-cut.
The Development Process of the Block
A lot of considerations have to be undertaken prior to the beginning of this process. Among some of these considerations include the availability of adequate land for development, technical labor and human resource, development materials as well as finances (Zero Waste Alliance, 2005). Since the land is already available in this context, the development process of the proposed property will occur in the following stages:
Initiation
For purposes of identifying the most applicable or preferable use of the proposed building, a market research based on the surrounding activities was effected (MacMahon, 2010). Upon this analysis and with the acquisition of the appropriate statutory planning consent, and ideal property use was obtained.
Other factors considered for the application of the proposed property include the transforming demographic, socioeconomic as well as physical factors within the area. The proposed site for Centennial plaza, 300 Elisabeth Street, Sydney remains most preferable for the development of commercial property purely for business activities.
This is because of the strategic location and demand that arises from its surrounding properties, infrastructure and amenities. The major applications or uses of the proposed property would include retail shops, hospitality joints such as restaurants, conference facilities, lodges, offices as well as industrial activities.
Evaluation
A comparative analysis of the available alternatives for design, site, development procedure, finishing, commissioning as well as application was used to select the most preferable approaches (Wilkinson & Reed, 2008). This potentially included market research as well as the fiscal appraisal of the proposal.
Generally, from the fiscal appraisal, the development would require a significantly large amount of monetary input because of the intensive construction processes to be conducted. The financial evaluation was based on a cost and benefit analysis and the proposed development capital resonate with the criteria set for area city planning rates. It is therefore necessary for the developer to carry on with the process given an effective and constant monitoring plan.
Acquisition
The site for the Centennial plaza, 300 Elisabeth Street, Sydney already exists and the improvement is based on an existing property that is yet to be demolished. Therefore, the most basic requirement is the verification of various land registration numbers and the parcels to be developed. Legal investigation conducted reveals that the ingenuity of the land parcels to be developed. This role will be purely conducted by the developer together with his legal team.
Other factors that must be considered I the period of lease, the type of ownership and the various development control processes to be adhered to. The ground analysis or investigation refers to another critical initiative that assesses the suitability of the area for the proposed development.
The necessary hydro and geologic activities must be conducted; availability of basic infrastructure such as electricity, water, roads, and many others must be surveyed (Wilkinson & Reed, 2008). Both short term and long term fiancés must be availed for purposes of development and post-development investment management by the property owner.
Design and costing
The development team will come up with initial ideas collectively and then prepare the architect’s design brief. In this stage, sustainability issues must be addressed, including the “green” technologies for cleaner environments and energy conservation (Millington, 2000). Primarily, the design works must be kept to the least to lower costs before the developer’s dedication to the scheme.
The engagement of the quantity surveyor at this point would be critical for cost estimation. Scaled layouts indicating the plans, proposed structures on site, floor plans as well as the internal composition are critically observed here (MacMahon, 2010). Moreover, there must be indication of the specifications of development materials as well as finishes.
The developer needs a higher certainty on the cost estimates to enhance the quality of the fiscal appraisal. Accordingly, the quantity surveyor must make a comprehensive estimate of the building cost to enhance consultations with the contractors to initiate the construction process.
Permissions and Commitment
Acquisition of the planning permit from the local planning authority in Sydney will be critical (Millington, 2000). An outline planning permission will set the approved use as well as the consented size of this scheme. Thus the developer must offer adequate information describing the type, size as well as form of the project to the necessary regulatory authorities.
Details to be submitted include drawings, siting, access means, design, external appearance, as well as landscaping (Wilkinson & Reed, 2008). The valuation stage is critical to assess the likely costs to be invested in the project. The developer must make sure that they are satisfied that all the appropriate preliminary processes have been undertaken prior to any commitment. This follows after a successful input of all requirements and acquisition of statutory permits.
Implementation
Once all the necessities for the development process are availed, the implementation process begins forthwith. The developer upon engagement has to make sure the outlined budget as well as the time frame of completion is stringently adhered to by the contractors involved without compromising the quality (MacMahon, 2010).
It is advisable for the developer to employ a project manager to oversee these processes effectively. The importance of the project manager will be to forecast challenges and initiate immediate informed decisions to reduce delays as well as extra expenses.
References
MacMahon, S. (2010). Canadian Commercial Real Estate Sustainability Performance Report. Web.
Millington, A. (2000). Property Development. New York, NY: Taylor & Francis.
Wilkinson, S & Reed, R. (2008).Property Development. New York, NY: Taylor & Francis.
Zero Waste Alliance, Z. (2005). City of Corvallis – Phase 1 Report: Assessment of Sustainability Performance. Web.