Years ago a leading real estate agent indulged us with a fun experiment on property values in the resi market. Together we allocated an “umbrella” index to various suburbs to indicate how cool (or hot) they were. Five umbrellas – proxy for outdoor cafes – was the max. The area might have started off dusty and industrial but the young hip people were now on the move and prices were rising fast.
The experiment was a bit misplaced. By the time the umbrellas went up the suburb was off and away.
To really be ahead of the curve and beat the market you needed to look at what made the place desirable in the first place. Generally, then and now, it’s the artistic community that looks past the current brand of a place and sees its intrinsic merit. The creatives move in, the suburb thrives, prices rise and then, sadly the artists are forced out because our world doesn’t pay them much.
If Sydney was ever in danger of losing the people that give the place its culture and depth for this very reason, it’s now.
Last week Committee for Sydney tackled this threat with a report Making it in Sydney and a discussion panel event at Rozell’s White Bay Power Station, now a restored giant monument to its former life as a coal processor.
But the solutions are not easy to come by, the panel said.
“Meanwhile uses”, where artists can inhabit areas destined for future redevelopment while the development approvals or finance, make it through the mill, are frustrating and by definition short lived. At one such place, Nest Creative in Alexandria, around 90 artists have been given their marching orders because time’s up. Despite hundreds on the waiting list hoping to get a look in.
Some ideas have focused on creative land trusts, but Create NSW portfolio director Roslyn Mayled told the audience that moving spaces into the trust from her portfolio for instance would not increase the space available – which is what was needed.
Other state government departments were also a bit nervous about entering such agreements.
But governments such as the City of Sydney were making some inroads and plans organised by the city in conjunction with Arup and Left Bank Co were now being exported to Melbourne and the Victorian Government Architect’s office. Which must feel like a nice turn of events for Sydney which usually looks to Melbourne for creative solutions.
But it’s difficult to get the private sector to come up with ideas to also chip in. Even though planning for creatives to beon site can give a precinct a brand money can’t buy.
Ask Stanley Quek who donated an entire street to artists before going ahead with redevelopment at Central Park. Sadly the artists there too had only meanwhile spaces.
Project director for Mirvac’s Waterloo Metro over station development, Ryan Thomas, said the private sector could probably benefit with plans for creatives on site but planning needed to come early
In Canberra the Molonglo group knows and understands this. It’s brought the creatives into a huge site near Fyshwick called Dairy Road and has nurtured a thriving community of makers who love the place.
There will be residential and even office development on the site but the creatives came first and this is a group that knows it will pay dividends in the long run – with the kicker that the creatives are locked in – long term.
We visited the site this week and hope to bring you videos and a report soon, to share what we think is a great example of how a win-win example can stay and not be hived off to the winner takes all.