CAN FREMANTLE AFFORD ONE PLANET DEVELOPMENT?
The sale and development of the City of Fremantle Knutsford Street depot site is a bit of a conundrum for the City as ratepayers will rightly expect the best financial return for it, especially in light of the City’s very tight financial situation.
Council wants specific sustainability outcomes under the One Planet Living Framework, but experts indicate that might have a negative impact on the value of the property.
There are additional costs involved for developers and Landcorp, and they cite the WGV sustainable development and others as examples for that.
There are questions if the property market can bear the additional costs of OPLF development and still be competitive in a very tight residential market.
It is essential that Fremantle Council is totally transparent about this with the community as we can’t really afford to lose a few million dollars for ideological reasons.