PointData’s Residential Development Potential analysis, supported by Valeri’s land value and sub-division land value estimates, were used with expert Development Plan assessment to determine redevelopment options for a residential superlot, created by the amalgamation of four adjoining sites in the western suburbs of Metropolitan Adelaide.
The client (a community housing provider) has properties across the Adelaide Metropolitan area. Many of these, including the project properties, are former HousingSA dwellings which are in need of replacement. PointData was appointed to maximise the number of community housing dwellings on site with development costs to be offset by the provision of Torrens-titled dwellings to be sold to the public.
A range of automated PointData tools including land value estimates, subdivided land value estimates, suburb profile (ABS stats) and neighbourhood profile were applied, combined with detailed site layout planning, semi-automated house matching and comparative sales analysis to generate a financial return assessment of the project. We trialled a number of layout options, including driveway positioning and internal access arrangements and various dwelling types, combinations and yield.
Figure 1 Site layout planning: two of the dwelling arrangements tested.
The outputs provided to the community housing provider included the site layout, assessed according to Council requirements, dwelling specifications and example advertised housing products for both community housing and those to be sold. It was concluded that the project could double the yield of the previous housing assets as well as deliver additional dwellings to be sold to the market. The housing choices and build costs applied, plus a loading for other site works, showed that if the client could negotiate small reductions on the advertised build costs, the project could be delivered at a cost-neutral outcome. The assessment included advice, precedents and analysis that could be used in applications for development approval and development envelopes which could be used in negotiation with builders to optimise designs.
PointData hope to continue working with community housing providers to increase the volume and quality of community, affordable and social housing in the Metropolitan Adelaide region. Community and social housing shortfalls are a growing problem across all of Australia’s major cities and much of the existing housing stock is at or approaching the end of their useful life. The analysis PointData performs can demonstrate how to maximise the dwelling yield while minimising program costs, delivering returns for community organisations and public housing authorities.