Glebe: St Johns Road 4 – glimpse of the Glebe Estate

This was an innovative arena for inner city renovation in the 1970s. The story is on that link.

As the Prime Minister of the day, Gough Whitlam, notes:

The quality of the completed renovations prompted the Royal Australian Planning Institute Journal to comment in November 1979 that "The Glebe project has become a classic example of successful rehabilitation. It stands as a refreshing and humane contrast to the insane excesses of the commercial redevelopment of the central business district and as a remarkable symbol of official concern for community values rather than developers’ balance sheets." Improved housing facilities in turn fostered the regeneration of commercial activity. During the late 1970s Glebe Point Road became a thriving mixture of new restaurants and antique shops and traditional corner grocery stores and second-hand merchandise dealers.

The project was also a tremendous financial success. A financial analysis in 1978 showed that the Glebe estate was capable of earning a real rate of return of about four percent on the funds invested, given market-level rents and optimum rehabilitation. While a renovated home at Glebe in 1978 cost $39,000 a comparable dwelling in new Housing Commission low-rise housing at Waterloo cost $44,500.

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