Consultants Lenders & Investors

The local community believes there are fundamental flaws in the proposed redevelopment that will be of interest to potential tenants and purchasers of residential, commercial and retail property, their employees, and to consultants and lenders acting for them.

Information regarding these potential flaws are readily available to interested parties and parties should take the trouble to make their own enquiries regarding the issues. (Click link at left to issues)

DUAP have advised that the  gazetted plan and the supporting studies should be available in Concord's Concord West Branch Library by Monday 9 June 2000. It would be worthwhile to ensure that you understand the implications of the site and seabed  contamination, sewerage  and other pollution of Homebush Bay, the traffic problems and lack of alternative access into and out of Rhodes, and that the main Northern line is already running at capacity and land necessary for duplication of the lines has already been said to be not required.

You are urged to obtain the summary of residents comments prepared by DUAP for the Minister's consideraton.  Bare in mind that during the Olympic remediation:

"Olympic Authorities Acknowledge Dioxin Contamination and Apologise For Mistakes, July 1997.

Following GGW2000’s release of information on dioxin contamination at the Sydney Olympic site, the Olympic Co-ordination Authority was forced to prepare a full public report on the matter. The report provides details on the history of dioxin dumping at Homebush Bay, and test results showing dioxin contamination found at the site of the Sydney Olympic Games.

The OCA also issued a public apology and retraction on behalf of its senior environmental manager, who denied that the most toxic form of dioxin 2378 TCDD had been detected at the Olympic site."

Where did these dioxins come from? Union Carbide operated a chemical plant in Rhodes and much of the land reclaimed from Homebush Bay on the Rhodes site is said to contain significant toxic wastes.

Intending tenants of the Compaq and Walker commercial developments fronting Mary and Alfred Streets that only have access to Concord Road within the "landlocked" section of Rhodes will be vitally interested in the likely impact of the forecast increases in traffic flows. Other potential tenants and investors and their lenders and valuers will be very interested in these issues

Intending purchasers of residential properties will be vitally interested in the contamination of the land, Homebush Bay and the pollution from sewerage in Homebush Bay, as well as the likely problems with traffic access into and out of Rhodes.

Lenders and valuers will need to consider the value and  saleability of such properties once developed, particularly given the easy accessibility of public information regarding this site.  It is virtually certain, particularly given the level of concern of the local community that these issues will be fully known to purchasers and lessees and potential employees.