Economic sustainability

Arguments against development of the proposed canal estate in Ralphs Bay

For these reasons, and because all the other issues already described would be so enormously challenging to the developer, the project would be economically unsustainable, as well as environmentally unsustainable and socially damaging.

Quotes (in red) and page references are taken from the the Lauderdale Quay Draft Integrated Impact Statement, its appenices or its Executive Summary

  • As a result of the environmental damage flowing from canal estate developments interstate, remediation costs have often been considerable, and have been borne by the local community long after the developer has left. In the context of Ralphs Bay, residents can expect eventual rates rises, aimed at covering the cost of environmental remediation, dredging to keep waterways open and other unforeseen costs.

One of Walker Corp's objectives is:
" to expand upon the existing public open space and walking trails in the area and provide extensive public open space and recreation in the form of waterfront promenades, public parks, and coastal foreshore areas;" (p. II)

Since these areas are deemed "public" , will they be maintained by all rate payers? The DIIS states: "No impact to rate payers of Clarence City Council will occur as a result of the development with contributions intended by the future residents ..." (p.VIII). Note the key word " intended ".

  •  Insurability of the properties is a big question mark and may not be possible.
 
  • The building material for the artificial landforms on which canal estates are constructed can subside, resulting in cracking and other property damage, which causes considerable cost for the property owners, after the developer is long gone. Acids in dredge spoil and sulphate attack can degrade concrete and cause damage to infrastructure.

 
  • Likely drop in property values for residents of the South Arm Peninsula south of the canal development, resulting from up to 17 years of traffic delays during construction.

 
  • Unknown economic impact following loss of fish nursery areas.
 
  • Public health impacts and repairs and upgrades to roads as a result of the heavy traffic would result in considerable unplanned expense for the State Government.
 
  • Pressure on the Lauderdale School, which is already a community of close to 1000 pupils and teachers.
 
  • Selling a Conservation Area to a developer for the construction of an environmentally damaging canal estate and marina development would erode the distinctiveness of Tasmania as “The Natural State”, thus reducing the State's market advantage in a competitive world.
 
  • Anticipated rises in the costs of all commodities derived from petrochemicals (diesel, petrol, oil, asphalt, tar) in coming years raise serious questions as to the financial viability of this long-term project, which is dependent on their use.
 
  • The high wind conditions experienced at Ralphs Bay would appear to make the “Ralphs Bay Village” a highly undesirable place to live, which raises the question of whether the project will be financially viable once the initial “excitement” (if any!) has worn off .