28 April 2009
Redevelopment of heritage properties is an important way of financing restoration works, according to the Urban Taskforce.
Heritage properties will decay if their owners arent allowed to renew them and adapt them for modern use, Mr Gadiel said.
Mr Gadiel said there are over 20,000 individual local heritage items listed in local environmental plans and many more properties in the 183 local conservation areas.
Many of these properties are in a poor state of repair, he said.
Heritage buildings are best cared for when they are used and loved.
This means they must be suitable for use in todays world.
Money generated by the redevelopment of a site can pay for fire upgrades and restoration works.
Without this opportunity most owners of run-down heritage properties would have no hope of paying for their upkeep.
Mr Gadiel said that heritage listings should not prevent additions or new buildings on a site.
Every development on a heritage is assessed for its impact on the heritage significance of the property, he said.
Heritage listed warehouses have been successfully converted to new homes and old residences have been converted into offices.
The redevelopment of the old GPO at No.1 Martin Place has re-invigorated a run-down heritage building and opened it up to the public.
The Urban Taskforce is a property development industry group, representing Australias most prominent property developers and equity financiers.
For every $1 million in construction expenditure, 27 jobs are created throughout the broader economy. The construction activity made possible by property developers contributes $69 billion to the national economy each year and creates 709,000 direct jobs. The construction industry is Australias third largest source of employment.
