Eastern Suburbs: funding remediation with airspace

Building

1960s three-storey block, 12 lots, facing a major remediation bill

Homes added

1 × AH-80 with terrace

Timeline

Modelled at 12–16 months including a pre-DA meeting

Modelled outcome

Modelled airspace proceeds substantially offset the remediation scope that would otherwise be funded by a special levy across 12 lots.

How the project runs

1. 1

   Trigger

   Engineer's report identifies concrete spalling and end-of-life waterproofing; committee seeks funding alternatives to a special levy.

2. 2

   Feasibility

   Airspace valuation modelled against the remediation estimate; crane access assessed on a constrained coastal street.

3. 3

   Decision

   Owners weigh a levy against an airspace sale that also delivers a new roof membrane as part of the works.

4. 4

   Delivery

   Remediation and rooftop module sequenced together so the building is scaffolded once, not twice.