MacCabe Durney Barnes were commissioned to prepare an economic and market viability assessment of the Clonburris Strategic Development Zone Planning Scheme. The area of the SDZ is c280ha and it will accommodate over 8,000 units in addition to retailing and employment floor space. The services were provided in two stages:
- Stage 1- planning/economic review and market research of supply and demand, gathering data on house prices, values, construction costs. This stage informed the preparation of the Draft Planning Scheme in an iterative process.
- Stage 2 – viability assessment of the emerging Draft Planning Scheme using residual, discounted cashflow models, which took account of market values, costs, housing tenure (market and social), infrastructural costs, densities, financing costs.
The assessment involved sensitivity tests at different densities.
MacCabe Durney Barnes undertook the economic viability assessment which was paralleled by assessments of retail requirements and employment floor space within the planning scheme.