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The Secret Agent Report

A monthly online publication by Melbourne buyers advocates Secret Agent to help buyers, researchers and industry professionals navigate the local property market.


Read our latest report: Melbourne's Supply of New Developments



The Secret Agent Report - The Arden-Macaulay Plan

December 2014

The Arden-Macaulay Plan

The Arden-Macaulay Plan (Download PDF)

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You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.
– Buckminster Fuller

Big infrastructure projects are of great interest to Secret Agent. These large scale projects have profound implications to the liability of our city. Much is at stake for home owners and investors seeking to take advantage of the remodelling of large inner city precincts.

For this report Secret Agent decided to investigate an urban renewal project that is not so talked about. The Arden-Macaulay Urban Renewal Project (AMURP) is currently in its planning and implementation stages. This project is unique in that it is not a single suburb being remodelled but rather a significant area that encompasses two inner city suburbs; Kensington and North Melbourne.

Excerpt:

By now you would have heard about the massive number of apartment buildings going up in and around Melbourne’s CBD. Inner city Melbourne is rapidly changing and its densification is an ongoing process we have been watching develop over a number of years. In fact it is so commonplace now in the lives of those living or working in the inner city that we rarely blink an eye when we walk past another construction zone, drive through road works, or see a crane in the sky.

Big infrastructure projects are of great interest to Secret Agent. These large scale projects have profound implications to the liability of our city. Much is at stake for home owners and investors seeking to take advantage of the remodelling of large inner city precincts.

Urban renewal is not a new phenomenon. Think of Port Melbourne, Docklands, South Wharf and the future Fishermen’s Bend.

Even South Yarra underwent urban renewal to bring it to the vibrant and dense suburb it is today. These are all widely talked about suburbs and many of us have experienced the changes urban renewal has brought about in these areas (except Fishermen’s Bend).

For this report Secret Agent decided to investigate an urban renewal project that is not so talked about. The Arden-Macaulay Urban Renewal Project (AMURP) is currently in its planning and implementation stages. This project is unique in that it is not a single suburb being remodelled but rather a significant area that encompasses two inner city suburbs; Kensington and North Melbourne.

What is Urban Renewal?

Melbourne has been experiencing a massive growth in population over the past few years and this is unlikely to stop anytime soon.  A majority of this growth is occurring in inner Melbourne as we have talked about previously in our “Urbanisation” feature and “From Rags to Riches” report.

The CBD alone experienced a record 23% increase in population in 2013 (ABS, 2013). To adapt to the huge increase in the number of people, densification needs to occur across Greater Melbourne in a distributed manner. This means that changes need to be made to make the most of limited land supply close to the CBD so that Melbourne can accommodate the growing population and its status as one of the world’s most liveable cities can remain.

To enable this growth to continue smoothly, the creation of efficient and sustainable communities and the renewal of urban areas is essential. The concept of urban renewal involves redeveloping areas in order to reach their full potential. This requires increasing the density of land use, encouraging mixed land use and creating an environment where people can live and work together.

Urban renewal is often associated with the removal of slums, gentrification and the establishment of wealth in a community. This is easy to see when you think of some of the most successful urban renewal projects in Melbourne (Port Melbourne and South Yarra) and what has become of these suburbs as a result.

Reference:

ABS. (2013). 3218.0 – Regional Population Growth, Australia, 2012-13. Retrieved November 19, 2014, from http://www.abs.gov.au/ausstats/[email protected]/Products/3218.0~2012-13~Main+Features~Main+Features?OpenDocument


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