Elizabeth Quay. Kings Square. Waterbank. Burswood.
These are all positioned to become major precincts for Perth, with both the private and public sector working together to build a fantastic environment for locals to inhabit.
But what if the current regulatory system is making it significantly harder to deliver these great precincts and activity centres than it should be? What if it is preventing these areas from being even better?
Without the introduction of community titles, Perth will never be able to achieve the built environment that it deserves and needs.
Community titles, or ‘layered schemes’ as they are sometimes referred, use multiple layers of strata schemes with their own management. These schemes within schemes provide the flexibility necessary to more easily enable mixed-use developments and the flexibility to redevelop where it is necessary. Community titles also more effectively enable the sharing of common facilities amongst different tenures and schemes.
These schemes can create better outcomes that provide benefits to consumers, the Government and the broader community through the flexibility, diversity and affordability that they can enable.
Under the current system, the choices of consumers are severely restricted. The introduction of community titles would provide a significantly broader range of options for consumers to select from, without introducing any additional risk. They enable the developer to deliver more innovative design outcomes that will give the consumer a variety of living choices.
The ease of precinct development would allow for the use of shared common user facilities, scaled infrastructure investment and more sustainable utility outcomes that decrease the ‘sticker price’ of living options as well as the lifecycle cost living.
Further, community titles enable the sharing of facilities and infrastructure across more than one building, creating greater efficiency for power, drainage and even fire safety.
This ability to share infrastructure in a way that is not possible under the current strata title legislation would dramatically increase the viability of precinct-energy schemes, enabling the property sector to deliver more sustainable, energy efficient outcomes.
The sharing of infrastructure and facilities across schemes can also enables more affordable living outcomes and greater housing diversity. Where developers and builders are able to deliver greater efficiency, this will reduce costs that otherwise must be passed down to the client or consumer.
Community titles are also the simplest and easiest way for the development of the activity centres outlined by the State Government’s own Directions 2031 policy. The ability they provide to create developments with mixed-use and shared facilities will enable the dynamic the government’s planning policies require. The current strata titles system makes the delivery of activity centres so complex and difficult, that they simply will not be developed at the speed and to the quality that they otherwise could.
Elizabeth Quay. Kings Square. Waterbank. Burswood. These are all key, iconic projects that would have used community titles if they had been available and as a result could have been delivered with even better design and economic outcomes.