Labor’s plan for an Innovation Civic Hall in the $5.3m Boot Factory restoration in Spring Street, Bondi Junction is doomed to fail before it starts due to:
• Trying to compete with established and significant Innovation Hubs already aligned with local Universities and major Tech companies.
• The building’s design being flawed, with relatively small spaces on three levels and lifts, kitchens and toilets shared with Council staff and the Seniors Centre in the Mill Hill building.
• Little prospect of any tangible return thereby placing a burden on Council funds.
In 2017, the Labor Mayor announced her new ‘pet project’ to establish an Innovation Civic Hall. Council then spent $118k on favourable consultant reports without assessing the heritage Boot Factory’s limitations or how market forces will impact the project’s future success.
Any net financial return to Council is doubtful with forecasted returns of $60k per month and students paying a $50 weekly subscription highly unlikely.
This initiative appears to be a waste of time, money and effort for a ‘pet project’ that is unlikely to bring jobs to Bondi Junction and will cost ratepayers to operate.