Conclusions
This paper sought to address the following questions:( a) what is the level of sustainability in Sydney office conversion adaptation projects? And( b), are stakeholders cognisant of the sustainability issues in these projects? This paper has investigated the nature and extent of residential conversion in Sydney, as well as sustainability and other attributes considered in conversion. Through interviews held with developers, a consultant and a valuer in the Sydney market, residential conversion in the Sydney CBD importance and awareness of sustainability was investigated. Various physical, economic, environmental, legal / regulatory, social and political factors influence and impact on conversion adaptation. In answer to the question; what is the level of sustainability in Sydney office conversion adaptation projects? It is shown that, that the level of sustainability achieved is derived from compliance with planning and building legislation and regulation and not from demand from buyers or investors. The results show that financial considerations and risks are the biggest attribute influencing decision-making. If tenants or buyers would demand and be willing to pay for sustainability, developers would increase the level of sustainability. Where deleterious materials such as asbestos or other contamination exists, remediation is undertaken but in terms of compliance with regulation rather than for sustainability reasons per se. Furthermore, the biggest contribution to sustainability, which comes from the embodied energy resting in the original structure, is ignored both in rating tools and by the stakeholders. The rationale is primarily economic in the Sydney market. The second question asked, are stakeholders cognisant of the sustainability issues in these projects? Here the findings are that the interviewees were knowledgeable and aware of some of the sustainability issues that affected conversion adaptation, given the predominance of economic attributes, sustainability was at best a secondary or tertiary consideration. The development of a conversion adaptation sustainability rating tool may pave the way for increasing awareness of and recognition of sustainability in the office to residential conversion adaptation. Given the increasing amount of the stock earmarked for conversion, this is a timely opportunity.
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772 ZEMCH 2015 | International Conference | Bari- Lecce, Italy