Regional Capital City Renewal and Value Capture Planning – Greater Newcastle Metropolitan Area (GNMA)

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This chapter addresses the renewal of regional capital city centres using a value capture planning (VCP) model. Two subjects (from earlier chapters) of significance to regional capital city centres are firstly summarised: (1) the implications of the coronavirus pandemic (2020) for future urban planning (Chap. 1); and, (2) VCP model, including three planning principles of: equitable housing, public and open spaces, sustainable transport (developed in Chap. 2). In addition; a second stage of the model incorporating developer provisions and/or levy alternatives is outlined. The study area of the Greater Newcastle Metropolitan Area (GNMA) is then introduced. The case study within this area is the Newcastle West Renewal Precinct under the Newcastle City Centre Renewal (NCCR) program. The Wickham area (within the Renewal Precinct) is selected for examining the funding of public facilities and infrastructure via value capture. The VCP model is then applied to the wider Newcastle West Renewal Precinct. Results and conclusions are then drawn, including the potential application of the model to other precincts within the study area. The application of the model beyond the Renewal Precinct is also addressed, including application to: the NCRA; City of Newcastle; and, the GNMA. The ability to apply the VCP model to other NSW State regional capitals is also addressed. At chapter’s end it’s noted that Chap. 7 will address: (1) overall results of applying the VCP model to each of the four case study areas; and, (2) the application of the model to any urban or regional centre elsewhere in Australia or in the world.

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