Have a look at this site – again, in local Cremorne.

Its used as a car park and is within 50m of the Church St tram line, 400m from the train station. Imagine the options of a residential development above – perhaps obtain one share car to service the entire development, with say 6 apartments over 3 levels above the car park. And the office it currently services still has the car parking under.

Is that not a mutual benefit situation?