Edgeworth Renewal Corridor Project - Lake Macquarie City Council

9.2.7 Option 5 Medium Density in Select Locations and Small Business AlongMain RoadOption 5 is a combination of Option 2, with select areas along Main Road zoned mixeduse, albeit with a commercial floorspace limit. This limit is to facilitate small businessgrowth and maintain the function of the Corridor, but to constraint the intrusion for largercommercial uses beyond the B1 and B4 zoned areas proposed in the Draft LMLEP 2013.Option 5 seeks to encourage medium density residential development in suitablelocations with higher amenity and good proximity to Main Road. This option reinforcesthe existing growth of small businesses and professional suites along Main Road. It takesadvantage of the high visibility for business located along Main Road, in an environmentthat presents amenity issues for residences. Option 5 is shown in Figure 53 below.Figure 53 Option 5 Select medium density and small business development9.2.8 Options Analysis – Residential CapacityThe five land use options discussed above provide a combination of changes to land usezones. This included increasing some of the densities possible for some residentialareas, and additional mixed use land that would enable a combination of commercial andresidential land use. Each option provides various combinations of these changes whilstOption 1 is a ‘business as usual’ scenario.Table 15 provides a comparative analysis of the potential development yield and theresultant population for each of the five options. Option 1 reflects the proposed zoningunder the draft LMLEP 2013. The area is currently occupied by 1487 dwellings, howeverits maximum yield is 19226 dwellings. The main reason for the difference is that the B1and B4 zones have a collective potential of over 14,000 dwellings under the planningguidelines, however they contain only 29 dwellings. Furthermore, there are 248 dwellingsin the B3 zoned area which has a development potential of 3146 dwellings. Land values,development viability and market demand all contribute to the land being developedbelow its ultimate potential.The additional development potential for each Option is shown in Table 12. It can beseen that each of the Options progressively contains greater development potential, up to11.3% additional dwellings in Option 5 relative to Option 1 (the base case).In practice, the B3 zoned areas are likely to be more conducive to incremental mediumdensity development, while the B1 and B4 areas tend to be a comprised larger sites, andDraft Land Use Review – Edgeworth Renewal Corridor – Version 2 Page 78 of 85F2011/00577/06/08 – May 2013