FROM VISION TO INVESTMENT
DELIVERING PLACE BASED ECONOMIC DEVELOPMENT THROUGH THE LILYDALE INVESTMENT BLUEPRINT
By Lucy Proctor
Across Victoria, established outer suburban centres are under increasing pressure to accommodate growth while responding to climate risk, housing demand and infrastructure constraints. The pressure itself is familiar, but expectations are changing, with growth increasingly expected to be deliberate, coordinated and place based.
For centres like Lilydale, accommodating more development is only part of the task. The broader aim is to shape places where people can live well, socially, economically and environmentally, while supporting long-term resilience. This reflects a wider shift toward a regenerative and wellbeing-focused approach to economic development( Economic Development Strategy- Yarra Ranges Council, 2022).
But this raises a practical question: if we are aiming to deliver better community, economic and wellbeing outcomes, how do we influence what happens on land we do not own?
While strategy can define direction, it is the combination of landowners, developers and investors who ultimately determine whether change occurs. Without their participation, even the strongest planning frameworks remain aspirational.
This is where the role of local government and economic development practice must continue to evolve. Delivering on wellbeing and regenerative outcomes requires alignment between landowners, developers, Council, the market and the community, rather than relying on more policy alone.
The intent in Lilydale has long been clear: more people living, learning, working and spending time in the centre to create vibrancy, support local business and strengthen community life. Translating that vision into coordinated action across fragmented ownership and competing pressures has been the challenge.
This article explores how a relationshipled, place-based approach through the Lilydale Investment Blueprint responds to this challenge, reducing uncertainty and enabling landowners to act.
WHAT IS THE LILYDALE INVESTMENT BLUEPRINT? Traditionally, a blueprint sets out exactly what will be built and how. The Lilydale Investment Blueprint takes a different approach, showing what’ s possible without prescribing outcomes.
It takes the direction already set through the Structure Plan and brings it together with the aspirations of landowners, illustrating what could be possible by combining policy intent with owner, developer, and investor ambition. The Blueprint highlights where there is real opportunity. It focuses on sites where landowners are open to change, such as:
• larger individual sites
• neighbouring properties that could work together
• areas where landowners are starting to explore shared outcomes.
Rather than being theoretical, these opportunities are based on real conversations, market interest and practical thinking.
VOL 19 NO 2 2026 30 www. edaustralia. com. au