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Plans have been lodged for a seven-storey double-tower residential development in Oran Park in Sydney’s south-west.Under the plans before the Camden Council, the towers would rise on the eastern edge of the newly developed Oran Park Town Centre.&nbsp;The project, designed by Allen Jack+Cottier Architects, comprises two residential buildings above a single basement carpark with 275 spaces.&nbsp;Developers Greenfields Development Company say that approval for the proposal “will further enhance housing diversity and activation within the Oran Park Town Centre”.The $81.6-million development was referred to the Sydney Western City Planning Panel last month.The first building will comprise 66 apartments and the second 111 units, offering predomintaly two or three bedrooms plus a small number of one-bedroom apartments.A minor variation to the permissible building height is being sought to accommodate lift access to the rooftop terrace.Rooftop common areas will be “multi-seasonal” with planter gardens and social spaces.As well as its proximity to the town centre, it will also be close to the planned large-scale aquatic centre, libraries and council buildings, while the planned Oran Park Town Centre Railway Station would be about 600m west of the site.<div id="5JLVZZhySLfnxkaeyVkPwK"><picture><img src="//images.ctfassets.net/8pr762qjocl3/KZuETO58DocrNcENN1LzJ/a2e373ab1d34c438eb639aabd0ade839/In-article__40_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/KZuETO58DocrNcENN1LzJ/a2e373ab1d34c438eb639aabd0ade839/In-article__40_.jpg"></picture><div>▲ The Camden suburb of Oran Park is experiencing major development as its town centre masterplan moves forward. </div></div><div id="5JLVZZhySLfnxkaeyVkPwK">Oran Park itself was rezoned in 2007 as part of the South West Growth Centre to prompt further development, and the Oran Park Town project has since delivered 4,000 residential homes as well as stage 1 of the town centre retail component and facilities for Camden Council. Oran Park was once best known as the home of a popular motor racing circuit, which opened in 1962 and closed in 2010.</div>Greenfields has a construction pipeline worth $680 million over the next four years.Leppington, adjacent to Oran Park, was also recently rezoned as part of <a data-mce-href="https://www.theurbandeveloper.com/articles/30-minute-city-leppington-camden-liverpool" href="https://www.theurbandeveloper.com/articles/30-minute-city-leppington-camden-liverpool" target="_blank" rel="noopener">a major masterplan by Camden and Liverpool councils</a>, as developers and planning authorities look further outside of Sydney for opportunities.

Plans have been lodged for a double tower seven-storey residential development in the emerging South West Sydney suburb of Oran Park...

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Sydney’s Hunter Street over-station skyscraper project has entered the next phase as the way is prepared to redevelop the site. &nbsp;Milligan Group has applied to the City of Sydney to demolish buildings on the Hunter Street and Pitt Street sites as part of the redevelopment.These works will make way for a 52-storey skyscraper tower over the top of the new Hunter Street Station, part of the NSW government’s $6.5-billion Sydney Metro West rail line, a 24km rail link between Westmead and the CBD.Proposals for the site received final endorsement from the Central Sydney Planning Committee in February, 2023 after these <a data-mce-href="https://www.theurbandeveloper.com/articles/sydney-metro-west-station-hunter-street-towers" href="https://www.theurbandeveloper.com/articles/sydney-metro-west-station-hunter-street-towers" target="_blank" rel="noopener">plans were initially outlined last year.</a>Four buildings from four to 15 storeys,&nbsp; mainly B-grade office space with retail uses on the ground floor, currently occupy the site.Milligan is planning to demolish three buildings on the site, specifically the buildings at 19-21 Hunter Street, 23-25 Hunter Street and 105-107 Pitt Street, as part of the project’s next phase.One of the buildings on the site, a four-storey Victorian Italianate building at 15-17 Hunter Street, formerly known as Pangas House, has been gazetted as a heritage item by the City of Sydney and therefore was not included in the current development application.<div id="2lvZYrrldXHHOQc3LkhpmS"><picture><img src="//images.ctfassets.net/8pr762qjocl3/39jCGTklFlBvOFYIr4SjIX/a4940618ca7bc024a341c838dfb36d62/In_article_Skyscraper.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/39jCGTklFlBvOFYIr4SjIX/a4940618ca7bc024a341c838dfb36d62/In_article_Skyscraper.jpg"></picture><div>▲ A render of the Bates-Smart-designed tower. </div></div> The detailed design of the future commercial building will be the subject of a separate and subsequent application following a design competition, which began last month.The 52-storey commercial office building planned for the site will comprise about 51,000sq m of gross floor area, as well as retail tenancies within the podium and public domain improvements.The skyscraper has been touted as the world’s tallest hybrid timber building.&nbsp;Milligan Group’s vision for the site and project is “to deliver a legacy building for Central Sydney in the form of a world-class commercial office tower in the commercial core of the CBD”.

Developers Milligan Group are planning demolition works ahead of a design competition for the future 52-storey downtown Sydney development…

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As the cost of living crisis continues, the focus on affordable living in Sydney has prompted a wave of co-living development plans with the latest in Granville.&nbsp;Plans for the six-storey co-living building has been filed for 31-33 Enid Avenue, Granville, which is 18km west of the CBD.Texco Designs prepared the plans for developer St Enid Holdings Pty Ltd, which is owned by private New South Wales developer Chi Tung Li.&nbsp;The developer applied to Cumberland City Council for consent for the residential project, which comprises 49 co-living rooms plus basement parking.Under the plans, there would be four common rooms, landscaped communal open space at ground level and a rooftop communal open space.Two single-storey brick houses would be demolished to make way for the development.The site is within a high-density residential zone and is close to Granville and Clyde train stations, as well as parks, a bowling club and swimming centre.&nbsp;The proposed development will make “a positive contribution to the streetscape and desired future character” of the area, according to the developers.The Granville area is changing as lots of single-detached homes are amalgamated and redeveloped into residential buildings of up to six storeys, according to the development application.Additionally, after the introduction of <a data-mce-href="https://www.theurbandeveloper.com/articles/nsw-housing-policy-shakes-up-affordable-seniors-living" href="https://www.theurbandeveloper.com/articles/nsw-housing-policy-shakes-up-affordable-seniors-living" target="_blank" rel="noopener">the State Environmental Planning Policy (Housing) 2021</a>, which included two new housing types, there has been an increase in co-living developments planned for NSW.Recently, Good Housing launched <a data-mce-href="https://www.theurbandeveloper.com/articles/good-housing-15-storey-newcastle-co-living-tower" href="https://www.theurbandeveloper.com/articles/good-housing-15-storey-newcastle-co-living-tower" target="_blank" rel="noopener">plans for a Newcastle co-living development</a>, as have rich listers George and Wendy Inatey <a data-mce-href="https://www.theurbandeveloper.com/articles/camperdown-co-living-project-plans-filed" href="https://www.theurbandeveloper.com/articles/camperdown-co-living-project-plans-filed" target="_blank" rel="noopener">for a Camperdown project</a>, while developers Charbel Hazzouri and Anthony El-Hazouri have been attributed with <a data-mce-href="https://www.theurbandeveloper.com/articles/revelop-co-living-development-profile" href="https://www.theurbandeveloper.com/articles/revelop-co-living-development-profile" target="_blank" rel="noopener">aiding a revolution</a> in the sector.

A focus on affordable living in Sydney has prompted a wave of co-living developments, including the latest project lodged for Granville....

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Plans to swap out one and three-bedroom apartments for four-bedroom units in a dual-tower project in Sydney’s north-west have filed.While building A in the project planned for 8 and 18 Garthowen Crescent, Castle Hill was unchanged, the amendments for building B lodged with The Hills Shire Council reduce the total number of apartments to 185 from 192 in the Turner-Studio-designed development.The addition of four-bedroom apartments reflects a growing trend in apartments as families and downsizers look to vertical living.The original plans for the $210-million project were filed in 2020 and approved in 2021, with some criticism from sections of the community over height issues and traffic concerns.The development by Kassis and builder Dascohas has been dubbed Grand Rève, with the architects describind its as “contemporary luxury apartments homogenised with a beautiful landscaped podium, seating pods, lush intimate spaces and residential dining sprinkled throughout”.&nbsp;<div id="3XnY95VIi0zkYcvCJ5tbGK"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5bykIRsXnsyz08JJdMfd1Z/5e36e4a3b52b252a6165fb3be4192313/Garthowen_Crescent_In-article__40_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/5bykIRsXnsyz08JJdMfd1Z/5e36e4a3b52b252a6165fb3be4192313/Garthowen_Crescent_In-article__40_.jpg"></picture><div>▲ A render of part of the now-approved twin-tower development.</div><div> </div></div>Its location in the Sydney Metro Northwest Urban Renewal Corridor means that no more than 25 per cent of the homes should be one-bedroom units, and that 20 per cent should have three or more bedrooms.&nbsp;The Garthowen Crescent precinct is characterised by low-density homes with some medium-density development.&nbsp;There are also some new multi-level high-density residential buildings that have frontages to Garthowen Crescent and Old Northern Road.&nbsp;Castle Hill has recorded a surge of development activity recently, with plans lodged by Aretean Capital in February for a <a data-mce-href="https://www.theurbandeveloper.com/articles/castle-hill-affordable-housing-complex-proposed" href="https://www.theurbandeveloper.com/articles/castle-hill-affordable-housing-complex-proposed" target="_blank" rel="noopener">$79-million affordable housing complex,</a> meanwhile major plans from QIC for the Castle Towers shopping precinct are full-steam ahead.&nbsp;One of Sydney’s oldest suburbs, the influx of development has led some to suggest that it has <a data-mce-href="https://www.theurbandeveloper.com/articles/castle-hill-development-panorama-apartments" href="https://www.theurbandeveloper.com/articles/castle-hill-development-panorama-apartments" target="_blank" rel="noopener">reached its limit for development</a>.

A dual 18 and 13-storey tower development in Castle Hill has upped its four-bedroom apartment mix 

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Sprawling mega-mansions are out, sky-high penthouses are in, and Sydney's pockets have never been deeper in the ultra-luxury end of the market.Buying property has always been a solid option for high-net-worth individuals and even in the post-Covid landscape, the performance of Sydney’s luxury residential market has not slowed.“We’re not seeing any shallowing of the pool of purchasers for luxury apartments,” Knight Frank Australia head of residential Erin van Tuil says.Earlier this month, Fortis made headlines with the sale of Ox House, a three-level Oxford Street home, which sold <a data-mce-href="https://www.theurbandeveloper.com/articles/luxury-fortis-development-smashes-sydney-records" href="https://www.theurbandeveloper.com/articles/luxury-fortis-development-smashes-sydney-records" target="_blank" rel="noopener">for a record price of $16.5 million</a>.Lendlease last week announced that its Mitsubishi Estate Asia’s luxury residential tower One Circular Quay surpassed $1 billion in presales after sales for its One Sydney Harbour exceeded $3.7 billion at the end of last year.&nbsp;One Sydney Harbour also claimed the record for Australia’s most expensive residence with the $140-million sale of a three-storey penthouse.And this week, Knight Frank’s Global Super-Prime Intelligence report revealed Sydney was ranked ninth in the world for super-prime (more than $US10 million) property sales with 10 super-prime sales in the first quarter of 2023, ahead of Paris and Orange County, both of which recorded three sales.But according to Lendlease head of apartments Daniel Dugina there has been an evolution in what buyers are looking for.&nbsp;“Traditionally, there’s been a preference for larger established homes but we’ve seen an increasing shift in the past few years towards prime high-rise luxury living, similar to major cities around the world such as London and New York,” he says.&nbsp;“We’re also finding that buyers are more discerning, expecting more sophisticated finishes, an elevated level of service and private amenities, generous indoor and outdoor spaces in an iconic location, and also the confidence in a developer to be able to work with them to deliver on their expectations.”Elsewhere, Top Spring Australia will complete Munro House in Elizabeth Bay in late 2023, while its Ode development at Double Bay, scheduled for completion in late 2025, has already broken price records for the suburb <a data-mce-href="https://www.theurbandeveloper.com/articles/record-breaking-double-bay-project-s-penthouse-sold" href="https://www.theurbandeveloper.com/articles/record-breaking-double-bay-project-s-penthouse-sold" target="_blank" rel="noopener">on three occasions</a>.And the high-end of the market seems certain to stay buoyant, according to Top Spring managing director Sydney Ma.“In areas such as the eastern suburbs, the desire for high-quality properties with a truly unique lifestyle hasn’t wavered and Sydney remains one of the country’s strongest and most consistent performers,” he says.&nbsp;“In the past six months we have seen suburb pricing records smashed, including our penthouse and sub-penthouse levels at Ode, which sold at an average off-the-plan price of $20 million.“Munro House launched in the middle of the lockdown and we had a strong take-up rate by owner-occupiers who understood the value proposition of living in a high-quality development in a prime Elizabeth Bay address.”<div id="4p0JvZWqSHwxjQvS0pEXpn"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4TmLFrQwsznFNAQro5Q28b/b7e07e04ff3788c96ca510eeaa1bb60e/Ode_In_article_Top_Spring.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4TmLFrQwsznFNAQro5Q28b/b7e07e04ff3788c96ca510eeaa1bb60e/Ode_In_article_Top_Spring.jpg"></picture><div>▲ Ode by Top Spring: An example of the move towards medium-density luxury living. </div></div>Some things about the luxury sector are changing, however, including trends in secondary homes, according to Knight Frank Australia head of residential Erin van Tuil.“Primary and secondary homes make up 36 per cent of Australian wealth portfolios—a lot of individual wealth is tied up in homes they live in, and ultra-high net worth individuals own 2.9 homes on average.“In terms of those secondary homes and lifestyle decisions, only 1 per cent of Australians invest their money overseas or invest in overseas residential compared to a global average of 13 per cent—Australians are still spending within Australia. It’s a long-term trend but certainly a continuing trend.&nbsp;“One in four ultra-high-net-worth individuals bought a home in 2022, and 16 per cent are buying a home in 2023 so there’s still huge demand for residential property, but there is a shortage of stock in the luxury market.”&nbsp;<h2>Location is key</h2> Like most sections of the residential market, supply has not been able to keep pace with demand.&nbsp;“There is a shortage of stock in the market in general, and there is a shortage of super-prime luxury apartments. The term ‘luxury’ is used quite a bit, but a product that ticks all the [boxes] for this demographic is quite rare,” van Tuil says.This has translated into sales, according to Lendlease’s Daniel Dugina.&nbsp;“We’ve consistently had strong interest in Sydney’s prime residential market—we’ve already sold more than 50 per cent of apartments in an off-market campaign at One Circular Quay, showing that interest and demand is strong.“We expect this to continue at our One Sydney Harbour and One Circular Quay projects, which are once-in-a-generation opportunities that offer the exclusivity and rarity in landmark CBD locations that prestige buyers are looking for.”This, combined with the seachange/treechange movement throughout Covid means that the super rich are looking ‘out of the box’ for luxury, and Top Spring is looking at other areas of Sydney to bring a differentiated offer to the high end of the market.“We are bringing our luxury development experience to high-growth areas of the Lower North Shore,” says Ma.&nbsp;“The Newlands in St Leonards is our $500-million masterplanned community now under construction, and its three-bedroom park-front terraces and apartments, priced from $2.42 million to more than $3 million, have been snapped up by buyers mostly already living in the Upper and Lower North Shore.“In an area where glass towers dominate, The Newlands really is different, surrounded by parklands and close to the harbour.&nbsp;“With a range of designs offered across five low-rise buildings, this inner-city tree-change attracts everyone from downsizers and families to professionals and first-home buyers.”&nbsp;<div id="1yTuW9mOSCA8OdtibMUgwj"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3dMKFYwyvaJMkNEx5DolGR/ce56f3d849cede8aacfd37ee7bf26209/One_Sydney_Harbour_in_article_2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3dMKFYwyvaJMkNEx5DolGR/ce56f3d849cede8aacfd37ee7bf26209/One_Sydney_Harbour_in_article_2.jpg"></picture><div>▲ One Sydney Harbour is more than 90 per cent sold across all three towers, including the sale of all townhouses and penthouses. </div></div> Ma says that Sydneysiders love Sydney, but there is also a move towards a differentiated product for the high end of the market.“At One Barangaroo Crown Residences, for example, more than 90 per cent of purchasers are Australia-based, mainly Sydney locals, and there are not many international buyers,” says Knight Frank’s van Tuil.“Typically people buying in Sydney already have a real affinity to the city—there was a period where we had a lot of international investment, but with prime and super prime it’s very local.”&nbsp;Top Spring and Lendlease have experienced similar trends.“While there’s always been international interest in the luxury end of the market, what we’ve seen at One Sydney Harbour and One Circular Quay is more than 90 per cent of buyers are local, which tells us that Sydneysiders recognise what an incredible opportunity the developments present,” says Lendlease’s Dugina.&nbsp;“At Ode and Munro House, our buyers have largely been residents of the Eastern Suburbs,” says Top Spring’s Ma.&nbsp;“They are very active, they like to travel and many run successful businesses.“With our developments, they don’t need to compromise on lifestyle yet have an opportunity to downsize from larger homes to a spacious residence like a 219sq m penthouse with three-bedrooms, media room, 111sq m rooftop terrace and views across the harbour.“Many buyers often have holiday homes or secondary residences, so were looking for the convenience of living close to the city in a village atmosphere with the duality of beachside living whenever they wanted.”<div id="2jwlX0VrogANXa6ZtQa8JC"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6IMeg4DIjji7VudU8EOZMm/a7d2a9852e148b80585f133450d68c5d/In-article__39_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6IMeg4DIjji7VudU8EOZMm/a7d2a9852e148b80585f133450d68c5d/In-article__39_.jpg"></picture><div>▲ The interiors of the six-storey Ode development in Double Bay were designed by Alwill Interiors. </div></div> But Sydneysiders are not just sticking with Sydney for luxury.&nbsp;“Interesting, on the back of Covid, what we’re seeing now is co-primaries. People made the decisions to buy and move out [of cities] but now people are maintaining a property in town and a secondary location, and splitting their time more equally between then,” van Tuil says.“This is particularly the case with secondary properties in Northern NSW and the Gold Coast.”&nbsp;<h2>Price still matters</h2> One factor impacting co-primary living is price.&nbsp;According to Knight Franks’ Wealth populations report, to be in the top 1 per cent of earners in Australia, an individual would need to have $5.5 million in individual net wealth—the third highest in the world after Switzerland ($6.6 million) and Monaco ($12.4 million)Despite this wealth, ultra-high net-worth individuals like a bargain.“What makes Australia interesting is that in terms of square meterage, for $US1 million, you get the most for your money on the Gold Coast, which makes places like that attractive for secondary homes,” van Tuil says.“In Sydney, you get 44sq m of luxury internal space with $US1 million, on the Gold Coast, it’s 117sq m for $US1 million.“As a result we’re seeing some migration from Melbourne and Sydney to the Gold Coast and Northern New South Wales.”<div id="6jKeChVC15RIqAUXET5n7j"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5AKJ7hKs5gM1jgztqQAym1/b55d9e88152fdbd101278b7989992337/One_Circular_Quay__In-article.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/5AKJ7hKs5gM1jgztqQAym1/b55d9e88152fdbd101278b7989992337/One_Circular_Quay__In-article.jpg"></picture><div>▲ One Circular Quay is a 58-level tower designed by the late award-winning Australian architect Kerry Hill. </div></div> And while trends may come and go, Sydney’s luxury residential market looks more than likely to stay robust.&nbsp;“We are confident in the high-end remaining strong. Sydney’s eastern suburbs are so tightly held and less cyclical in nature, and markets such as Double Bay and Elizabeth Bay tend to be less affected by economic factors such as interest rate rises,” says Ma.&nbsp;“However, we are not complacent, and creating a point of difference is imperative in a tight market.“We believe a well-defined development identity is a key enabler, so we undertake extensive research and work with expert consultants on every aspect, to ensure each project’s story is cohesive and compelling.” <hr> You are currently experiencing&nbsp;The Urban Developer&nbsp;Plus (TUD+), our premium membership for property professionals.&nbsp;<a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans">Click here to learn more.</a><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture></div>

Movement towards coprimary living has not dampened the Sydney luxury residential market, but supply remains an issue…

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Major players are moving in on Brisbane greenfield sites that three years ago they wouldn’t have looked at twice.Chapter Two director Oliver Bagheri, who will present at The Urban Developer’s <a data-mce-href="https://web.cvent.com/event/7f31abf7-09ca-4622-9f4b-dde75c44182b/summary?rt=X_aufiJPxEeHOTaMYZfoiQ" href="https://web.cvent.com/event/7f31abf7-09ca-4622-9f4b-dde75c44182b/summary?rt=X_aufiJPxEeHOTaMYZfoiQ" target="_blank" rel="noopener">Brisbane Residential Summit on June 8</a>, said that the dearth of land was causing seismic changes in the residential development sector, especially at the smaller end.“If you look at a map of South-East Queensland, it appears as though there’s large concentrations of developable land which may easily service demands of the expected population growth over the next 10, 20 or 50 years.&nbsp;“The reality is that it’s not readily developable—this land is limited by planning scheme overlays, environmental corridors or physical constraints.”The pandemic also accelerated supply challenges as Brisbane became an attractive market for developers, buyers and sellers.“As we transitioned through the various waves of Covid, it became evident there was a clear uptick in transaction volumes,” Bagheri said.“Initially we observed this at the retail purchaser level, which when compounded with investor demand resulted in larger numbers of site acquisitions than pre-covid”“But both segments of the market were underpinned by a wave of capital from privates and institutions domiciled here and offshore.”This brings us to the challenging situation we are in today.&nbsp;“Institutional developers are now considering smaller greenfield community options than they usually would, as well as opportunities further afield, because they are finding it much harder to identify and purchase large sites,” said Bagheri.“The smaller end of the market where Chapter Two operates is now also being fiercely contested by larger well established private developers.“Once upon a time, the larger established developers wouldn’t bother looking at anything under, say, 50 lots. Fast forward to now, we see them regularly pursuing opportunities of under 50 lots and sometimes as small as 15 lots, offering vendors unbeatable pricing and terms.“In some cases, we even share similar capital bases with our competitors and are competing for the same sites.”&nbsp;<div id="32DSKaKx8QMCHFt9xH4QxI"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3hjuDhwHgS0TpuCCsgfVdP/ce0a13c3a1b0106f6671dc5aa0dc3c80/Brisbane_Resi_In-article__39_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3hjuDhwHgS0TpuCCsgfVdP/ce0a13c3a1b0106f6671dc5aa0dc3c80/Brisbane_Resi_In-article__39_.jpg"></picture><div>▲ Chapter Two director Oliver Bagheri says smaller developers are prepared for the challenges posed by the dearth of greenfield land in Brisbane. </div></div>Compounded with labour shortages, high construction costs and long approval times, it is a tricky situation for developers, especially those at the smaller end, to traverse.&nbsp;“It’s a perfect storm – quite simply developable land is scarce”.&nbsp;“Brisbane has benefitted from being a ‘village town’, which it is no longer and we’re on the trail to the Olympics—its value proposition has become very clear, and this is creating a highly competitive market.”&nbsp;But smaller developers can focus on planning and preparation to ensure they have a strong position going forward.“In terms of forecasting, we’re focusing on working closely with our project teams to ensure we can move swiftly when site opportunities materialise”“We’re spending much of our time engaging with our project team as early and as often as possible in an attempt to analyse opportunities quickly and pierce through the market noise, understanding that Brisbane’s value proposition is very strong.”<hr> The Urban Developer&nbsp;Brisbane Residential Developer Summit&nbsp;will take place in&nbsp;Brisbane&nbsp;on&nbsp;Thursday, June 8. The summit will also offer premium networking opportunities that will allow attendees to connect with like-minded professionals, industry leaders, and potential partners. &nbsp; &nbsp;<a href="https://cvent.me/KLxeKl?rt=X_aufiJPxEeHOTaMYZfoiQ" target="_blank" rel="noopener" data-mce-href="https://cvent.me/KLxeKl?rt=X_aufiJPxEeHOTaMYZfoiQ">Click here to learn more and to register.</a>

Competition will only increase as major players look to lucrative but limited Brisbane greenfield development for growth…


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The latest version of plans for Mirvac’s redevelopment of a former Hills Shire business park have been approved.Updated plans with some minor amendments were filed this year, and have been approved by The Hills Shire Council.Mirvac acquired the 25.9ha site in 2016 for $74 million.&nbsp;The masterplan at 55 Coonara Avenue will deliver 417 homes including 165 houses and 252 apartments. The development is estimated to cost $165 million.Mirvac lodged plans for the former IBM complex at West Pennant Hills in 2021 after the site was rezoned in June, 2020 from Zone B7 Business Park to Zone R3 Medium Density Residential.<div id="2fJxxCo6YFeOWprmdJfmXy"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4Ykq8LQqRjO4zvx0bbK5gK/743ea4837274ea2c5eb8a66d46f9b0ed/pennant.jpeg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4Ykq8LQqRjO4zvx0bbK5gK/743ea4837274ea2c5eb8a66d46f9b0ed/pennant.jpeg"></picture><div>▲ A render of part of Mirvac’s masterplanned community on the former IBM site. </div></div>A development application for the demolition of all existing structures was approved by <a data-mce-href="https://www.theurbandeveloper.com/articles/mirvac-lodges-concept-plans-coonara" href="https://www.theurbandeveloper.com/articles/mirvac-lodges-concept-plans-coonara" target="_blank" rel="noopener">The Hills Shire Council in 2021</a>.However, initial plans for more than 1000 homes on the site were scaled back after Mirvac failed to win support for a bigger community footprint.Later, concerns over traffic and the environmental impact of adjoining neighbourhoods meant the development was not initially well received.As part of the plans, about 10ha of remnant forest will be dedicated to the NSW Government as public open space, being an extension of the adjoining Cumberland State Forest.

After several rounds of amended plans, Mirvac’s development of the former IBM complex in the Hills Shire has been given the green light…

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Gone are the days when aged care and retirement living was annexed off in a quiet suburb and forgotten about.&nbsp;Retirement and aged care providers—the original build-to-rent developers—are now focusing on integrated communities to provide a better experience for their customers.One of these developers is BaptistCare NSW &amp; ACT., which has been working on a major masterplan for its existing site in the development hotspot of Macquarie Park.&nbsp;BaptistCare chief executive officer Charles Moore says his predecessors invested in the site back in 1962.&nbsp;“Back then it was pretty much cow farms, which is how we’ve ended up with a 6.5ha site close to a major regional shopping centre, transport links and Macquarie University,” he says.“As we’ve held it since 1962, a number of those assets are at the end of their life and don't have the capacity to deliver the high quality care that we pride ourselves on, so it’s time for renewal.”Currently at the end of its exhibition stage, the $1.9-billion development will deliver much more than aged care and retirement living—it is poised to be a case study into experienced developers are rethinking the way they operate.“Ultimately our view is that we live and grow up in a community, but suddenly when you get to aged care you get segregated from a wider community,” Moore says.“We’ve intentionally planned Macquarie Park as an inter-generational mixe- use development site, which will blend aged care alongside student accommodation, affordable housing, build-to-rent, schools and some retail.”&nbsp;<div id="2V6fG623MKJ3tW0ZdQ5pTL"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6AlRLYZ0KrxomsxqLVWQu1/a67d6fdd045a9c0765ab0b3ba4495896/Baptist_Care_in-article.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6AlRLYZ0KrxomsxqLVWQu1/a67d6fdd045a9c0765ab0b3ba4495896/Baptist_Care_in-article.jpg"></picture><div>▲ A render of the BaptistCare masterplan proposed for its Macquarie Park site. </div></div>According to planning documents, the site will offer around 190,000sq m of residential and retail at 157 Balaclava Road, Macquarie Park, 13km north-west of the Sydney CBD, across 11 superlots, including 11 and 19-storey build-to-rent towers.“We believe that aged care and retirement are a great fit for the location,” &nbsp;BaptistCare development director Steven Ball says.&nbsp;“But in its current low and medium density form it won’t work.“So our first cab off the rank is a vertical retirement village—we’re hoping to commence in 2025, and be operational by 2029.”BaptistCare’s Stage 1 vertical village will consist of a 96-bed residential care facility with an additional 149 independent living units in a 13-storey tower.<h2>Vertical living and the next generation</h2> At The Urban Developer’s Melbourne Residential Summit, Charter Keck Cramer director Richard Temlett warned to not underestimate the Baby Boomer segment of the market.&nbsp;“They're not actually impacted by interest rate rises. So a lot of them have paid off big detached houses,” he said.“They’re aging and they’re working against the clock in the sense that they need to start to downsize to get more appropriate forms of homes, and there’s a significant opportunity to provide right size of products.”As the Boomers comes of age to retire in the next two decades, they will be expecting a step change in the style, typography, quality and amenities in their retirement living.Vertical villages can contribute to this change of approach, and new entrants to the retirement market such as UrbanLife have similarly invested in vertical lifestyle villages integrated into the surrounding communities, such as the <a data-mce-href="https://www.theurbandeveloper.com/articles/urbanlife-altona-north-retirement-village-development-application" href="https://www.theurbandeveloper.com/articles/urbanlife-altona-north-retirement-village-development-application" target="_blank" rel="noopener">$105-million Altona North development</a>.<div id="3JLXfKpfBF2LjqErgEtiTh"><picture><img src="//images.ctfassets.net/8pr762qjocl3/59LcciHmX5go6pf2YeKz1k/2adcfa951713b5c7d0fbb8ecf2ae09aa/In-article__10_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/59LcciHmX5go6pf2YeKz1k/2adcfa951713b5c7d0fbb8ecf2ae09aa/In-article__10_.jpg"></picture><div>▲ UrbanLife and other retirement developers have taken cues from the high-end residential and build-to-rent sectors. </div></div> According to the Property Council of Australia’s Retirement Living Census released last year, 59 per cent of new villages to be developed will be vertical or combination.BaptistCare says its is investing in vertical villages to futureproof its business.“The vertical setting is inevitably due to scarcity of land and growing population,” says Ball.&nbsp;“You need to care for as many people as you can in a smaller area—we’d all like to be on the ground but city living doesn’t allow it, so we’ve moved towards vertical design, and we have worked to understand what peoples’ needs are going to be in that environment.”&nbsp;These needs are inevitably different from other sections of society, and mobility and ease of wayfinding will be key, especially as this vertical village will be the first of its kind in the BaptistCare portfolio.“When you’re creating that intergenerational vibrant ground plane, it’s important to be thinking at a masterplan level about accessibility and signage ... how are you introducing those mixed zones, how is traffic going to work?&nbsp;“You need large amounts of open space with great sight lines because as people age they might get disorientated or not have as much confidence on their feet.”&nbsp;To encourage intergenerational integration, the development is interspersed with different types of housing.&nbsp;“Around 20 per cent of GFA we’re dedicating to affordable and student accommodation which will lead to a diverse and vibrant community,” says Ball.<h2>The original build-to-rent&nbsp;</h2> Retirement living is the original build-to-rent development group, and Baptis Care will bring this hands-on approach to its actual build-to-rent at Macquarie Park.&nbsp;“We’re not taking a traditional aged care and seniors approach, we have the opportunity to introduce these things and figure out what kind of place do we want to create,” Moore says.&nbsp;“How do we break down what is a dedicated seniors and aged care environment and widen it, to become a diverse, vibrant, inclusive place where everyone is welcome and everyone can share in the services available?“We want to normalise this in what will be an ageing-in-place location, where the continuum of care can be offered in a place that feels more normal than all-of-a-sudden moving into an aged care.”<div id="5igWnF9Z5LfXGuXtZzdxP4"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2ulfcxDhde795qYF1bOlIr/68675f99b96dbfa1c7847248426bf169/Baptist_Care_in_article_2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/2ulfcxDhde795qYF1bOlIr/68675f99b96dbfa1c7847248426bf169/Baptist_Care_in_article_2.jpg"></picture><div>▲ The number of older Australians has increased from 8.3 per of the population in 1970 to 16 per cent in 2020. </div></div>It is also a strategic move having build-to-rent in a wider development that is anchored in retirement and aged care.“Build-to-rent is not a foreign concept to us and we think it’s an opportunity to provide a different product onsite for a different demographic,” Moore says.&nbsp;“We’d like to see affordable build-to-rent at scale, so our key workers are able to access employment as well as living opportunities on the site in our own centres and villages and in and around the Macquarie Park area.&nbsp;“This is a larger project in the BaptistCare portfolio, its a key project at one of our oldest and most important sites, so we absolutely are committed to getting it right and we’ve taken our time.“Slowing down to speed up has been important for us to find out what we’re trying to do in this site and now into the future, because we’re committed to getting this right.” <hr> You are currently experiencing&nbsp;The Urban Developer&nbsp;Plus (TUD+), our premium membership for property professionals.&nbsp;<a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans">Click here to learn more.</a><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture></div>

Baptist Care’s $1.9 billion Macquarie Park site is a case study in intergenerational development as retirement developers invest in better quality of life for customers…

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The authenticity and egalitarianism of the community-driven Museum of Old and New Art in Tasmania should be a blueprint for build-to-rent as it moves into its next phase.So says James Pearce, a partner at architecture firm Fender Katsalidis, who will present at The Urban Developer’s <a data-mce-href="https://web.cvent.com/event/9359296e-6e6d-4dd2-95b4-88db0efef9f9/regProcessStep1:4db2eead-ad02-4cc7-9617-fa719af4099d?rp=85cfa84b-0ee8-4f5f-8f3a-0f8a737f9862" href="https://web.cvent.com/event/9359296e-6e6d-4dd2-95b4-88db0efef9f9/regProcessStep1:4db2eead-ad02-4cc7-9617-fa719af4099d?rp=85cfa84b-0ee8-4f5f-8f3a-0f8a737f9862" target="_blank" rel="noopener">The Evolution of Build-to-Rent in Australia</a> vSummit on May 25.While things are looking bright in build-to-rent <a data-mce-href="https://www.theurbandeveloper.com/articles/MIT-tax-slashed-in-build-to-rent-boon" href="https://www.theurbandeveloper.com/articles/MIT-tax-slashed-in-build-to-rent-boon" target="_blank" rel="noopener">helped along by a major tax overhaul</a>, it should not be resting on its laurels.“There are three ingredients to a great build-to-rent project,” according to Pearce, whose firm is behind one of Australia’s biggest build-to-rent projects to date—the <a data-mce-href="https://www.theurbandeveloper.com/articles/greystar-carves-out-build-to-rent-market-share" href="https://www.theurbandeveloper.com/articles/greystar-carves-out-build-to-rent-market-share" target="_blank" rel="noopener">$500-million South Yarra Greystar project.</a>“The onsite staff and management of the place is obvious and probably 99 per cent of it.&nbsp;“The second is the infrastructure of the public spaces, and the third one is engagement—and that’s where MONA comes in.”The Museum of Old and New Art, launched in 2011 by millionaire David Walsh, is the largest privately funded museum in the southern hemisphere.“MONA as a gallery was designed specifically for David Walsh and designed how he thought art should be displayed and seen,” Pearce said.“Right down the list of priorities was how anyone else would think about it, and it’s not the way you typically start something like that.&nbsp;“It’s interesting to think that what was key to David was that people made their own minds up about the art. Other institutions are seen as preachy and elitist—‘if you don't understand art we will tell you what good art is.’“At MONA they don’t even have plaques on the wall, but you can look it up on a device if you want to. There will be works by a rockstar European artist and then a local Tasmanian, which is fabulous.”<div id="1RLiu1hkKt4wAWGXuQYoIP"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4Ajyi4T1z2w61hDd2tDlqI/14673f9c454c64d5310287709afd6944/In-article__38_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4Ajyi4T1z2w61hDd2tDlqI/14673f9c454c64d5310287709afd6944/In-article__38_.jpg"></picture><div>▲ Greystar’s South Yarra project is one of the country’s largest in the build-to-rent sector. </div></div> While the connection might not be immediate between MONA and build-to-rent, this more egalitarian approach is something all developers should consider.“People know how they want to live —and wouldn’t it be great if someone asked them?” Pearce said.“If someone has lived in that suburb for 20 years and then developers and architects come in and say, ‘I know what this place needs, not you’ [it’s not a great start].“What MONA’s approach does, and what it can mean for both build-to-sell or build-to-rent, is that it makes people feel important again—they can decide for themselves.”This is a principle that Fender Katsalidis is bringing to the development for Greystar.&nbsp;“As we found with South Yarra, build-to-rent can and should become a real part of the community—it’s not a themed separate group of people, it should be a part of a community that people love.&nbsp;“That comes through in the materials we use and the designs we do, and it also goes back to how the staff manage the place and how the residents are treated.”<h2>Community at the heart</h2> Community is a key factor to any successful built-to-rent, especially getting it off the ground, as Pearce discovered at developments at Hampton, 14km south-east of the Melbourne CBD, where architects with the firm have worked on Reunion Place and Piper Residences.At one site, a developer had tried to get a build-to sell project off the ground, but animosity from the surrounding community led to a lengthy VCAT process“Projects, especially build-to-rent projects, can be at a decent scale, and change can be a worrisome thing for anyone already living in an area,” Pearce said.&nbsp;“The marketing for a project starts as soon as you start your planning process.“So at Hampton we ran a very extensive community engagement process.“The very first thing we did was have a meeting with that community group [that had opposed the previous development] so the idea of build-to-rent and engaging with the community from the start made it a positive thing from the very beginning.”&nbsp;<div id="45gRFgVDAmkOkXYIOsZq6I"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6UT6gSh4QrMhpYedbAxzYw/21ea00ae32d54efb401b347224ffa086/In-article__37_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6UT6gSh4QrMhpYedbAxzYw/21ea00ae32d54efb401b347224ffa086/In-article__37_.jpg"></picture><div>▲ Fender Katsalidis has worked on a host of build-to-sell and build-to-rent projects across Australia, including Reunion Place in Hampton. </div></div>Concerns over scale, privacy and overlooking into neighbours’ backyards were dealt with and plans changed even before the official DA process began.&nbsp;“It doesn’t mean we do everything they ask for—it needs to work for the developer as well,” Pearce said.“Design can and should be a collaborative exercise and it can turn into a mess if it’s not guided and managed.”&nbsp;But this is a responsibility all developers should have to surrounding communities, Pearce said, particularly with build-to-rent.“We’d like to think all our developers care about the ongoing impact of the building, but it’s another thing if you’re still there and responsible for it and trying to have that building sell itself over its whole lifetime.“This approach aligns with build-to-rent as a whole, where there are already an incredible number of incentives which are all aligned, from environmental and energy concerns to maintenance. &nbsp;“Getting these systems right in the first place makes a difference.” <hr> The Urban Developer’s&nbsp;The Evolution of Build-to-Rent in Australia vSummit will be held on Thursday, May 25.<a href="https://web.cvent.com/event/9359296e-6e6d-4dd2-95b4-88db0efef9f9/regProcessStep1:4db2eead-ad02-4cc7-9617-fa719af4099d?rp=85cfa84b-0ee8-4f5f-8f3a-0f8a737f9862" target="_blank" rel="noopener" data-mce-href="https://web.cvent.com/event/9359296e-6e6d-4dd2-95b4-88db0efef9f9/regProcessStep1:4db2eead-ad02-4cc7-9617-fa719af4099d?rp=85cfa84b-0ee8-4f5f-8f3a-0f8a737f9862">Click here for more details and to register.</a>

Building communities is not just about the amenities you can offer, and cultural successes such as Tasmania’s Museum of Old and New Art can offer an important blueprint for build-to-rent projects.

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A 25-storey Blacktown tower has been approved after a Land and Environment Court hearing and an overhaul of the design.The shoptop residential tower now approved for 2-6 First Avenue will comprise 200 apartments in a mix of one, two and three-bedroom units.It will have five levels of basement carparking plus rooftop areas as well as ground-level retail and commercial premises totalling 499 square metres.The applicants are listed as 2-6 First Avenue Blacktown Pty Ltd, a venture between First Equity Partners and Robert Chiha of ChihaCorp, a family-run Australian construction company workign for the investors.The original development application was lodged with Blacktown City Council in August 2021.It was refused at the end of 2022 but an appeal to the Land and Environment Court heard last week, in which developers and the council compromised and an amended development application was submitted, was successful.“We bought it with a DA at 57m and that was mainly one bedders. The idea was to go for 80m and extract some more value out of the land,” First Equity director Christopher H Bregenhoj said.&nbsp;“Then Covid came, and of course everything seemed to slow down in council and elsewhere, and so there was a lot of uncertainty at the time.”The initial refusals by the council stemmed from a focus on Design Excellence, particularly in buildings of this size.“The council kept coming back and saying it’s not what we need for an 80m building,” Bregenhoj told The Urban Developer.“In the meantime, the council had tabled excellence in architecture planning advice which was really about raising the game in Blacktown, so I applaud them for that.&nbsp;“But in August last year, we decided the only hope was to go through a section 34 [at the Land and Environment Court], to find out exactly what they wanted.”<div id="2CTgZy0uKgSTM3ZMZuRvew"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4XylquD0wrAn7o32lHe1L3/2c99ed736d01566f5dd46ea9336af242/Blacktown_Tower_in_article.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4XylquD0wrAn7o32lHe1L3/2c99ed736d01566f5dd46ea9336af242/Blacktown_Tower_in_article.jpg"></picture><div>▲ A render of the tower now poised to rise on the Blacktown site.</div></div> Bringing in designers at Dickson Rothschild helped rework the plans.&nbsp;“We were trying to build within the existing planned envelope and this constrained what we were doing—and we came to a realisation that the council wanted a lot more at a different standard for Blacktown,” Bregenhoj said.“From there, Dickson Rothschild came back with a whole new design and layout, and a much better plan from the original envelope.“We went through, line by line, what they required and you have to come up with answers and expert reports to accommodate that, which we did.”&nbsp;The court ruled that it was “satisfied that the amended application delivers high standards of architectural and urban design” and granted consent.&nbsp;After major safety and structural issues at developments such as Opal Towers, Sydney councils are becoming more <a data-mce-href="https://www.theurbandeveloper.com/articles/nsw-development-high-rise-quality-chandler" href="https://www.theurbandeveloper.com/articles/nsw-development-high-rise-quality-chandler" target="_blank" rel="noopener">focused on quality and design excellence,</a> which is something developers need to be remeber, Bregenhoj said.“There’s a perception that Blacktown is more about entry-level apartments but council are clearly trying to lift their game.”&nbsp;In the same area, Walker Corporation has <a data-mce-href="https://www.theurbandeveloper.com/articles/blacktown-walker-corporation-city-centre-revitalisation-deal" href="https://www.theurbandeveloper.com/articles/blacktown-walker-corporation-city-centre-revitalisation-deal" target="_blank" rel="noopener">recently signed a $2-billion deal with the Blacktown council</a> to revitalise the city centre.Despite the challenging process to get the development application approved, Bregenhoj said that it was worth investing in a Sydney suburb like Blacktown, which is 34km west of the CBD.“Presales in places like these are not a problem, you can sell these priced properly overnight, although sometimes it’s not in your interests to presell now if prices are going up in the future [and you already have funding].“Right now, we’re doing our own costing of whether we sell with a DA or build it ourselves.&nbsp;“The building will warrant a quality finish. It’s a great building, and properly built it will be an asset to the community.”

After a Land and Environment Court battle, a 25-storey Blacktown residential tower has been given the green light…