Council commissioned an independent economic study to determine the likely impact of the Route 96 upgrade on Acland Street.

The assessment was completed between August and September 2013.

The findings will inform and refine Council’s objectives for Acland Street and the role that this upgrade project has in rejuvenating St Kilda Village and the broader precinct. The findings also helped to inform our formal submission to PTV.


Council commissioned an independent economic study to determine the likely impact of the Route 96 upgrade on Acland Street.

The assessment was completed between August and September 2013.

Key findings

Strengths

  • Bayside location provides a natural attraction for visitors.
  • Local population base growing at 1.25% per annum.
  • Accessibility via public transport (trams, buses) and bike lanes and paths.
  • Well defined and walkable precinct offering a village atmosphere.
  • Generally adequate car parking based upon recent traffic surveys.
  • 2 hour free parking during non-peak times.
  • Tram terminus located within Acland Street.

Opportunities

  • A better walking environment, with greater public space may differentiate Acland Street from competing centres through allowing street based entertainment (e.g. buskers), reducing pedestrian congestion during peak times, and encouraging visitors to remain in Acland Street longer through providing seating and entertainment.
  • Opportunity to increase local resident’s usage of Acland Street.

Weaknesses

  • Congestion during peak periods.
  • On-going reliance upon attracting visitors from beyond the immediate area.
  • Absence of public space and limited seating.

Threats

  • Seasonal trading conditions.
  • Focus on discretionary retailing may expose businesses adverse economic conditions.
  • Competition from other retail locations that have evolved into lifestyle precincts for both local residents and visitors.
  • Congestion (pedestrian and vehicular traffic) during peak times may be limiting the potential for an overall expansion in business activity.

Case study comparison

The report also provided a case study comparison of four pedestrian orientated streets. These case studies offered the opportunity to identify factors that have influenced the retail performance of each location.

Findings

The conversion of Acland Street to provide greater pedestrian space will not have any significant long term economic impact upon the performance of business or rental income from properties.

The success of the four pedestrian orientated streets has been achieved in most cases through

Council playing an active role by:

  • regularly upgrading facilities (public seating, community space, additional car parking)
  • facilitating activation of the space through entertainment and other activities
  • Providing the opportunity for visitors to extend their stay in Acland Street will increase the likelihood of increased spending at local business.

Assessment of Early Design Options

The key features of the two early design options proposed by PTV and the two alternative design options proposed by the City of Port Phillip were assessed. A preferred design for the conversion of Acland Street will most likely contain elements from the early designs prepared by PTV and the City of Port Phillip.

Mitigation Strategies

  • Fronting traders able to use any new public space
  • Additional public seating and enabling activation of the street
  • Increase the amount of public space
  • Use remaining car spaces more efficiently and improve signage
  • Reduced pedestrian congestion
  • Investigate having a tourism information booth
  • Improved pedestrian directional signage
  • Implementing improved bike infrastructure and walking routes to encourage greater visitation primarily by local residents.
  • Opportunities for further investigation
  • Surveying local residents to determine what may encourage them to visit Acland Street more often within the context of its existing role and business mix.
  • Determining what navigating information drivers most rely upon to locate a car space when visiting St Kilda Village.

Recommendations

The report concludes that Acland Street needs to continue to evolve as a lifestyle precinct in order to maintain its competitiveness, particularly in light of the increasing number of cafes being established in a range of locations including small strip centres, former milk bars and lifesaving clubs.

Creating a better pedestrian environment will offer the opportunity to strategically position Acland Street with a new point of difference that may be used for entertainment and events that further strengthen the image of the precinct.

While Acland Street is not a neighbourhood centre there is still the opportunity to better meet the needs of local residents through providing a space for community events and social interaction. This will not only encourage greater expenditure at local businesses but place less demand upon available car parking, by locals being able to conveniently walk or bike ride to the precinct.

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Who completed this report for Council?

Charter Kech Cramer completed the Acland Street Conversion Economic and Business Impact Assessment. It also completed a peer review of the summary of findings contained at the end of this document.