Environmentally Sustainable Developments Don’t Cost the Earth

Property development in Australia has a rich and chequered history. From the Alan Bonds to the Bruce Smalls we have seen property development makes some people very rich indeed. For some, Australia is built not on the sheep’s back, but on the back of buying and selling real estate. It is the great Australian dream to own your own house; and most Aussies buy into that bank driven dream. In most cases we are left with enormous box-like housing developments dotting the landscape; a cornucopia of uniform geometric red rooves covering square kilometre after square kilometre. However, are these environmentally sustainable developments?

For corporations like Meriton, their interest is in fitting as many apartments into a building as possible in high density areas of Sydney and Melbourne. Most developers are more concerned with their bottom line than anything else. We have seen a few environmentally friendly commercial developments by companies like Lendlease at Barangaroo. The residential property development field is less well represented in terms of environmental sustainability. Traditionally, Australians have been less concerned with their environment, when it comes to housing, than they have been in servicing the economic imperative involved in paying off a house. Could things be about to change on this score?

Environmentally Sustainable Developments Don’t Cost the Earth

A new development in South Australia’s Victor Harbor, in a suburb called Hayborough, has put its environmental credentials front and centre. The developers of Victor Harbor’s Hayborough eco-estate cost themselves a lot of money by choosing to put only 250 homes on the estate instead of up to 1400. The developers have planted 250,000 trees on 64 ha of unused land, which will become wetlands and native forest. Beyond Today, the name of the eco-estate, will feature 250 energy efficient homes. This development is owned and operated by the Wright family. under the moniker ESD. Their motivation has been their shared passion for the environment, and they have created a place that they would want to live in.

Whether things will work out for this project, as with all business projects, involves a fair amount of risk. Will there be enough South Australians who wish to live in an eco-sensitive residential development at Hayborough and will they be willing to pay for it? Having ideals can be expensive, but some things, such as a genuine care for the environment, can be worth much more than money. That’s a form of spiritual literacy and considering the goodwill and positive publicity that has come from their vision, it also translates into financial literacy. Investing in group financial literacy may just be the way of the future for this country.

 

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About sudhahamilton

Sudha Hamilton is the publisher of Eco Living Magazine http://www.ecolivingmagazine.com.au He loves writing and reading about the things that matter. Working predominantly as natural health writer, he has been published in WellBeing, Conscious Living, and Eco Living Magazines. Having spent many years on a spiritual path, originally in the company of Osho, he has an abiding interest in the human condition. From the micro to the macro he seeks to understand the truth that lies beneath the artifice and constructs, which daily delude us all.

Posted on May 6, 2016, in Eco Living. Bookmark the permalink. Leave a comment.

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