Essendon is a prime example of how well integrated commercial development can rejuvenate an otherwise lackluster airport. It looks fantastic now and puts crappy Tullamarine to shame. Provided the non-aviation development doesn't squeeze out financially tenuous aircraft operations then I don't have a problem with it.
If some residential component could be included on the periphery of underutilized areas of any airport in Australia the that would be a great thing.
The northern part of Point Cook is a great example; currently vacant and rapidly being engulfed by advancing residential development. How about having some of those residences abutting the airfield with hangars etc. Close to town and good sealed runways/facilities etc.