There is no doubt that we will have to adopt higher density living if we are to counter urban sprawl and the loss of agricultural land, but Wollongong council has thrown it's support behind a project which appears to be blocked by sheer greed.
The proposal is for a $ 38 million complex of apartment blocks rising to nine stories which will deliver 207 individual apartments in an area zoned for higher density development. One lone, single level house stands to lose winter sun and will therefore be shaded by this high rise - and the developer has tried to buy the property to remove this obstacle.
It all boils down to price. The real estate value of this house is in the vicinity of $ 430,000. The developer has offered $ I million - and this has been rejected. The owners see an opportunity to gouge a huge profit by demanding it be increased to $ 1.5 million - and the developer has refused - but still offers $ 1 million to close the deal.
The owner of this single property has every right to try and get the best price possible, but there are consequences of being too greedy ! The council has rights too - and one of those rights is to give the development the green light and allow the winter shading objection to be rejected.
The owner has had more than a fair offer for the property - over double it's actual value. By refusing, the property could actually drop far below it's present value because it may not attract buyers because of the lack of sunlight in winter.
When it comes to adjudicating claims, fairness is a double edged sword - and it applies to both parties.
Council would be quite justified in suggesting that the owner either take the offer - or suffer the consequences !
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