20-Aug-2007
The Business Of Urban Renewal
Westwood in Adelaide’s north-west is Australia’s largest urban renewal project. Now into its ninth year of development, Westwood continues to have a positive effect in creating new opportunities for small to medium businesses in the region, which covers the adjoining suburbs of Angle Park, Athol Park, Ferryden Park, Mansfield Park and Woodville Gardens.
The sheer scale of the urban renewal project has meant the demographic make-up of the region is changing, which in turn is opening up new business opportunities for local companies who have realised they can tap in to a new and expanded customer base.
Urban Pacific has also given $1million to the Westwood Urban Regeneration Fund (WURF), which is managed by Westwood’s Economic & Community Development Manager, Gail Sulicich. The strategic objectives of the WURF include improving both economic and social outcomes in the areas to complement the physical upgrade offered by new and refurbished housing, streetscapes and the creation of enhanced open spaces.
Urban Pacific General Manager SA, Mark Devine, says Westwood has taken this a step further by hosting a Westwood Business Leaders Network event to meet local business owners and explain how the changes at Westwood can help their business. In addition it has set up a directory of more than 100 local businesses on its website, and is also encouraging residents to ‘Buy Local’.
By building networks with local businesses, Westwood is encouraging business owners to step up their communication strategies and gain a better insight into how they can evolve their business as Westwood itself evolves. Westwood is also encouraging local business owners to consider expanding their businesses using employees from the area.
A traditional residential development usually starts with an empty paddock from which an entirely new community is created and which attracts new businesses to the area. In Westwood’s case, the changes within the community as a result of urban renewal are not as noticeably visible and many businesses are already established. However, as word has spread about the success of Westwood, there has been an increase in small to medium enterprises setting up in the region and new opportunities are being created for existing companies.
Local business owner Binh Nguyen, who lives in the Westwood region and runs a website design company called Market Ease Business Promotions, says his business has expanded significantly in the past year, and estimates around 85 per cent of new business has come from the north western region.
“I started as a sole trader and have now expanded to four staff in the space of one year,” Mr Nguyen says.
“Even now we’re so busy we’ve had to turn a couple of clients away, so I may need to consider expanding further.
“The support of Westwood and the Western Area Business Enterprise Council has been very effective in promoting local business, and a lot of my new clients are coming from the Westwood region.”
Westwood is now moving into its final suburb, Athol Park, which gives Urban Pacific and its Westwood project partners a renewed challenge in revitalising the community. This new stage of the project will see a significant upgrade to a large area of Athol Park, including new housing, infrastructure, parks, landscaped road verges and gardens and a hub of retail facilities. In addition to the traditional variety of lot sizes, Westwood will also be demonstrating its commitment to providing more affordable housing options to the market, with a variety of townhouses and unit sites available. Westwood was awarded the Urban Development Institute of Australia (SA) Award for Excellence in the Affordable Development category in 2006.
The $600 million Westwood project is a joint venture between Urban Pacific, local and state governments, and involves the creation of nearly 3,000 homes over an eleven year period. Westwood has won national accolades for its success in delivering economic and community development initiatives as a part of the urban renewal process, and is considered a benchmark in urban renewal in the property industry.