IQ Apartments

of Aurora & Element) as well as provide certain rights for the use and enjoyment of common areas which support the retail trading activities.

Upon completion of Aurora, the first mixed use development delivered within the boardwalk precinct, it was necessary to provide solutions to unanticipated problems arising from the final determination of the businesses which were to occupy the ground floor units. As at the outset and design of a building it is not possible to know with any certainty what businesses will occupy the spaces, it follows that assumptions must be made in relation to provision for access to toilets and other amenities, which have broader consequences for those businesses (e.g. liquor licencing). Following registration of the development, we were successful in negotiating with the key stakeholders of the Owners Corporation, Executive Committee and individual commercial units, for the use of common areas to be provided exclusively to accommodate additional toilet facilities, thereby paving the way for additional licenced restaurants to operate in the precinct. Further initiatives have been undertaken and agreed upon for the separation of waste management expenses through a strata levy mechanism designed to promote responsible waste management and recycling for a number of commercial tenants.

Key Benefits / Outcomes

Although the precinct continues to evolve, the early success of these first developments has created a landmark destination with lessons applicable to many future precinct style master planned developments.

The success of the activities undertaken are evidenced by a number of points:

 Successful separation of funding obligations between types of uses  Accuracy of operational budget forecasts to within an insignificant margin of error for Aurora & Dockside  Enhancement of business and trading activities of the retail units  Streamlining of approvals necessary for commercial outcomes of units owners and tenants  High level of education / exposure of the process across the industry