Thursday, February 12, 2009

Lauderdale Quay meets triple bottom line net benefit test

Walker Corporation’s Draft Integrated Impact Statement for the Lauderdale Quay project has found there will be a net benefit to Tasmania from the project when all environmental, social and economic benefits and costs are assessed.

Walker general manager master-planned communities Tim Carrigg said today the project would have a major positive impact on Tasmania.

“This is a unique Tasmanian project and cannot be compared with anything we, or anyone else, has done in Australia before and we are very excited about it,” Mr Carrigg said.

“After all the scientific, social and economic studies, the potential for the development is far above even our own expectations.

“No one else in Australia has ever built a reclamation project like this. It is not a traditional canal project and is uniquely Tasmanian. We expect strong local interest, as well as national and international interest in this property,” Mr Carrigg said.

“Importantly, it measures up on the triple bottom line. That means our work has found that the project will result in net positive economic and social impacts, which will outweigh the predicted negative net environmental impacts,” Mr Carrigg said.

“That doesn’t mean that everything will be 100% to everyone’s satisfaction but we are confident that the benefits we provide, including our substantial environmental commitments, will provide a net benefit,” he said.

“In raw figures our economic studies found that this project will generate the equivalent of some 1062 new jobs in the reclamation stage, 4245 jobs during construction and an ongoing 178 jobs for its entire operation.

“These figures may look large, but if you think about the size and nature of the project, it is not unrealistic,” Mr Carrigg said.

“Most of the expenditure will be local, benefiting local businesses. Most of the jobs will go to local people,” Mr Carrigg said.

“During a period of decline for the Tasmanian construction sector, which is historically highly volatile, the Lauderdale Quay development will provide a continuity of employment for construction workers.

Walker has previously released the results of its environmental studies and announced around $1.8 million of projects to offset the predicted minimal impact on bird species.

“Additionally this project has many important social and economic benefits,” Mr Carrigg said.
Mr Carrigg said the Lauderdale Quay development would provide an opportunity for enhanced access to waterrelated activities in Ralphs Bay by providing 120 to 140 marina berths, up to 40 of which would be for public use, and by improving access to the foreshore.

The commercial precinct will provide opportunities for new businesses or existing businesses to relocate, including potential businesses in the retail, food services and personal and professional services.

Among other predicted benefits of the project were:
• Increased profile for the location as a tourist destination;
• Address an existing traffic problem on South Arm Road;
• Upgrade/installation of utility networks;
• Increased social amenity through the provision of new community facilities;
• Establishment of a high quality development; and
• Provision of medium/high value lots and dwellings


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