RPS’ Economics team has provided staging and options advice to the City of Rockingham as it looks to implement a new beach foreshore redevelopment project.
As the historical heart of the Rockingham region, the Rockingham Beach Foreshore Precinct has experienced significant change over the years as its role and function has evolved. Recognising the potential of a precinct revitalisation to attract investment and increase visitation to the region, Council’s Economic Development Strategy (EDS) 2014-2017 prioritised redevelopment planning.
Public engagement was undertaken and a draft master plan was published for public comment in May 2015; a plan that aims to enhance the amenity, function, and appearance of the precinct for recreational users and adjacent commercial areas in order to encourage retail activation, property and business investment and improved safety and vibrancy. However, a number of the proposed revitalisation initiatives were unfunded and were unable to be implemented.
Our team was called on to identify and assess the economic and social impact potential of proposed project components in order to determine which initiatives should be pursued in the short term. A more detailed analysis of the preferred first project stage was then undertaken which considers:
Whether the approach would likely generate net economic benefit and/or positive social return to the region
Whether it would support or address disadvantage
Whether it would increase local investment.
The options analysis included input from local businesses and developers in order to maximise positive outcomes across the community. An online survey and individual consultations were also undertaken.
The triple bottom line assessment approach formed a critical component of the successful $5m funding from the Commonwealth’s National Stronger Regions Fund.