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<p>A premiership marked by major infrastructure projects but an ongoing housing crisis has led to a mixed reaction to Annastacia Palaszczuk’s departure from the property sector.</p><p>Australia’s longest-serving female premier, Palaszczuk announced on the weekend she would leave Queensland’s top job after facing pandemics, bushfires and that housing crisis, as the state prepares for the 2032 Olympics Games.</p><p>A controversial <a data-mce-href="https://www.theurbandeveloper.com/articles/brisbane-games-gabba-2032-report-rethink" href="https://www.theurbandeveloper.com/articles/brisbane-games-gabba-2032-report-rethink" target="_blank" rel="noopener">Gabba stadium redevelopment, </a>the Cross River Rail project, the Gold Coast light rail expansion and the new Logan Hospital are just <a data-mce-href="https://www.theurbandeveloper.com/articles/queensland-budget-2023-property-sector-reaction" href="https://www.theurbandeveloper.com/articles/queensland-budget-2023-property-sector-reaction" target="_blank" rel="noopener">part of&nbsp;the state’s “biggest decade of infrastructure investment”</a>.&nbsp;</p><p>But this focus on infrastructure has put developers in a difficult position.</p><div id="1aUge3LKWAiqkHI1EDWFMn"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6OPX5ysvO6B17PdgTYOWBo/b237bcfc0aea8c45b4fad19b4258e220/Gabb_redev_mid.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6OPX5ysvO6B17PdgTYOWBo/b237bcfc0aea8c45b4fad19b4258e220/Gabb_redev_mid.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A render of the completed Gabba Stadium redevelopment ahead of the Games.<br><br></span></div></div><p>Discussing the progress of his<a data-mce-href="https://www.theurbandeveloper.com/articles/ralan-group-collapse-william-odwyer-guilty" href="https://www.theurbandeveloper.com/articles/ralan-group-collapse-william-odwyer-guilty" target="_blank" rel="noopener">&nbsp;La Pelago on the Gold Coast earlier this year</a>, Tim Gurner criticised the infrastructure pipeline as distracting.&nbsp;</p><p>“Labour in Queensland is still in short supply due to the unprecedented pipeline of government infrastructure projects either underway or planned to commence,” he told <em>The Urban Developer.&nbsp;</em></p><p>&nbsp;“We are hopeful that the state government can work with the industry to address this critical labour supply issue and create a pathway for more private development projects to access the limited labour resources that are in play, so we can assist in delivering much-needed housing ahead of this looming housing shortage crisis.”</p><p>Other developers raised issues that had impacted their business during the Premier’s tenure on the news of her departure.&nbsp;</p><p>GV Property’s Antonio Mercuri said there were no incentives for buyers to purchase off-the-plan apartments.&nbsp;</p><p>“A stamp duty savings for off the plan, for instance, would have been great and hopefully that can be introduced,” Mercuri said.&nbsp;&nbsp;</p><p>“Added to this, developer contributions are also probably the most expensive of any state in Australia.”</p><div id="6SVxqggzHBhWC0UJ7SFl5Z"><picture><img src="//images.ctfassets.net/8pr762qjocl3/69TtqvlaQ2Dl9cjY83Iga4/fefce4451d0f0829eebb07a480a3d11e/Copy_of_In-article__20_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/69TtqvlaQ2Dl9cjY83Iga4/fefce4451d0f0829eebb07a480a3d11e/Copy_of_In-article__20_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The Cross River project includes 5.9km of tunnels under the Brisbane River and CBD and a slew of new stations.<br><br></span></div></div><p>Alexander Steffan of Steffan Planning looked past Palaszczuk to highlight <a data-mce-href="https://www.theurbandeveloper.com/articles/nsw-affordable-housing-fast-tracking" href="https://www.theurbandeveloper.com/articles/nsw-affordable-housing-fast-tracking" target="_blank" rel="noopener">fast-tracking changes being introduced by the NSW government.</a></p><p>“The new premier should focus on enforcing the South-East Queensland Regional Plan, in a similar way to how the NSW government is slowly starting to do that with their statewide policies,” he said.</p><p>“Otherwise, the SEQ regional plan will just be pushed aside by councils as it has in the past, which has led to Brisbane ignoring the ‘missing middle’ for the past 10 years.”</p><p>Australian Constructors Association chief executiveJon Davies said on LinkedIn that premier Annastacia Palaszczuk “will leave a lasting infrastructure legacy from her time in office but any transition to a new premier provides an opportunity for fresh thinking on how this is delivered”.</p><p>“In particular, the incoming premier should reconsider the baffling decision not to set up an Olympic Delivery Authority and work with industry to improve the efficiency of infrastructure delivery in the state,” he said.</p><h2><strong>Housing fund doubled to $2bn</strong></h2><p><br>While the state government’s infrastructure plans may have distracted from housing delivery, the Palaszczuk government doubled its Housing Investment Fund to $2 billion, targeting the commencement of 5600 social and affordable homes by June 2027, and <a data-mce-href="https://www.theurbandeveloper.com/articles/queensland-property-strata-changes-approved" href="https://www.theurbandeveloper.com/articles/queensland-property-strata-changes-approved" target="_blank" rel="noopener">major changes to strata regulations.</a></p><p>But other areas of the industry have been worried by “constant legislative reform”, according to the Real Estate Institute of Queensland chief executive officer Antonia Mercorella.</p><p>“We are deeply concerned with the ongoing and emerging trend of one-sided tenancy law reform that is seemingly founded on an anti-investor approach,” she said.&nbsp;<br>&nbsp;<br>“The REIQ has not always been pleased with the level of consultation from the state government and the avoidable outcomes of rushed and ill-considered policy.</p><p>“The crisis didn’t emerge overnight—our state’s housing issues have been years in the making and governments must accept responsibility for the position we find ourselves in here in Queensland. What we need is a genuine long-term plan for housing our population now and into the future.”</p><div id="2ROaNRnvziocuxOD6azqeZ"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4vYIYWMg7vMgScLirHvtrY/9f80aefe6c5114158efbbd135bb20ea5/Gold_COast_light_rail.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4vYIYWMg7vMgScLirHvtrY/9f80aefe6c5114158efbbd135bb20ea5/Gold_COast_light_rail.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Expanding the Gold Coast light rail has been a priority with the population to grow 61 per cent to 928,000 in 2041.<br><br></span></div></div><p>Housing not-for-profit QShelter cited the establishment of the Housing Delivery Board, the expansion of build-to-rent initiatives, and land audits identifying new opportunities for residential development as high points for the outgoing premier.</p><p>“The premier’s leadership to achieve the inaugural Queensland Housing Summit has established a new level of focus, co-ordination and partnership to improve the health of the whole housing system,” QShelter executive director Fiona Caniglia told <em>The Urban Developer.</em></p><p>“The mobilisation of all levels of government as well as multiple state agencies, the private sector and community services sector has progressed multiple streams of activity.&nbsp;</p><p>“The new premier and all state leaders can help by supporting the next wave of important initiatives.”</p><p>QShelter identified wishlist issues as a 25 per cent increase in funding for homelessness services, $30 million in funding per annum for tenancy sustainment programs to prevent homelessness, expanding the Housing Investment Fund to $4 billion, and a focus on scaleable modular home delivery.</p><div id="29tiuEO3WmBsE3h5l7qIlZ"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3etoTG3LNMbIpt5G4WCXgI/b68a3b787ba0341415fdffd2a6db9f72/Copy_of_In-article__21_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3etoTG3LNMbIpt5G4WCXgI/b68a3b787ba0341415fdffd2a6db9f72/Copy_of_In-article__21_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The Queensland government In 2022 hosted the Queensland Housing Summit to identify and initiatie housing crisis solutions.<br><br></span></div></div><p>But despite its challenges, Caniglia said Palaszczuk’s legacy went beyond her government’s policies, whatever the area.</p><p>“There are many young girls living in Queensland who have only known a woman as premier,” Caniglia said.&nbsp;</p><p>“They will perhaps see themselves in this portrait as they imagine their own futures as leaders embedded in every part of society, and making a real difference.”</p>

Major infrastructure projects are setting the stage for growth but housing crisis eclipses outgoing Palaszczuk’s legacy…

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<p>Dexus is finishing a big year with a change at the top.&nbsp;</p><p>Ross Du Vernet will take over from Darren Steinberg as chief executive of the ASX-listed investment trust from March 2024, the group has announced.</p><p>Du Vernet has been with Dexus for nearly 12 years, and is the company’s chief investment officer.&nbsp;</p><p>“The board has spent much of 2023 planning for succession, which also included executing a global search, and is confident that alongside our highly regarded executive leadership team, Ross will succeed in leading Dexus through its next phase of growth,” Dexus chair Warwick Negus said.</p><p>At the same time, Dexus announced the launch of Velociti Industrial Estate, a super-prime industrial facility at Moorebank, in Sydney’s south-west.</p><p>The development at 12 Church Road, Moorebank, was greenlit by Liverpool City Council last week.</p><p>The project is co-owned by Dexus and Dexus Industria REIT.&nbsp;</p><div id="7dvabJCHBJLVGQPfQF2Zhs"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3X0ar1ySSkIgn6idskB5kT/75fb735d900129f5abc00b0b0ef31e36/Ross_Du_Vernet_mid.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3X0ar1ySSkIgn6idskB5kT/75fb735d900129f5abc00b0b0ef31e36/Ross_Du_Vernet_mid.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Ross Du Vernet is the incoming chief executive at Dexus.<br><br></span></div></div><p>Velociti has a total gross leasable area (GLA) of 17,946sq m across seven warehouses ranging from 2000 to 3250 square metres.</p><p>Each of the warehouses will have mezzanine offices.&nbsp;</p><p>“From the Moorebank site, distributors can access 93 per cent of Sydney’s population within 60 minutes,” Dexus Transactions and Development—Industrial head Chris Mackenzie said.&nbsp;</p><p>Construction is expected to begin in early 2024.</p><p>While Dexus has been <a href="https://www.theurbandeveloper.com/articles/dexus-sale-industrial-estate-two-lots-mapei-protector-aluminum" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/dexus-sale-industrial-estate-two-lots-mapei-protector-aluminum">offloading Melbourne assets this year,</a> it has also been acquiring in areas on the rise, including Perth with its <a href="https://www.theurbandeveloper.com/articles/dexus-industria-reit-jandakot-airport-acquistion" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/dexus-industria-reit-jandakot-airport-acquistion">$1.3-billion industrial buy at Jandakot Airport</a>, and industrial completions proved to be <a href="https://www.theurbandeveloper.com/articles/dexus-results-financial-year-2023" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/dexus-results-financial-year-2023">a bright spot in its full year results</a>.</p><h2><strong>Villawood industrial plan filed</strong></h2><p><br>Elsewhere in Sydney, Macada Orlani Property Group has submitted plans for a $42-million warehouse in the Canterbury-Bankstown suburb of Villawood.&nbsp;</p><p>Two two-storey warehouses would be built at 1 Maple Avenue, with five tenancies between them, totalling 18,414sq m of gross floor area, under the scheme.&nbsp;</p><p>The South District Plan puts the site in the Leightonfield Station precinct, one of the largest industrial and urban services precincts in that area.</p><p>It is close to the Bankstown Aerodrome, while the Carnarvon Golf Club is to the east and the Leightonfield train station to the north.</p><p>Despite tightly held logistics space in Sydney, substantial developments are in the works, with <a href="https://www.theurbandeveloper.com/articles/billbergia-esr-plot-sydney-warehouse-projects" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/billbergia-esr-plot-sydney-warehouse-projects">Billbergia and ESR planning major industrial sites</a> as well as Centennial, which has <a href="https://www.theurbandeveloper.com/articles/centennial-brookvale-industrial-logistics-sydney-acquisitions" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/centennial-brookvale-industrial-logistics-sydney-acquisitions">acquired $163 million in logistics works</a>.</p>

 A major Dexus industrial site in Moorebank has been greenlit by Liverpool as the group announces a new CEO…

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<p>Sydney property developer Abadeen has made the move into Victoria with two off-the-plan developments heralding its move south of the border.</p><p>The first is an residential development of seven apartments in Malvern East, 13km south-east of Melbourne’s CBD.</p><p>Designed by Melbourne architects Ewert Leaf, the Malea apartments (<em>pictured</em>) will be priced from $2.5 million with a top-floor penthouse for $6.5 million.&nbsp;</p><p>The second is a 24-apartment block at 646 High Street in Prahran East, &nbsp;5km south-east of the city centre.</p><p>The proposed development comprises a mix of one and two-bedroom units in the four-storey block.&nbsp;</p><p>Abadeen said the developments “capitalise on the current resurgence of interest in luxury off-the-plan residences”, particularly with downsizers.</p><p>Permits have been secured for the projects, which have a combined value of $100 million, according to the developer.</p><p>Construction on Malea is due to start in March, while town planning applications for 646 High Street will be lodged in the first quarter of next year.</p><div id="carousel-root" data-reactroot=""><image-carousel-remove-button><div class="rm-carousel-wrapper"><button id="rm-carousel" class="rm-carousel-btn">Delete</button></div></image-carousel-remove-button><div class="slider-wrap"><image-carousel><div class="slider-el"><img style="height: 100%;" title="Copy of In-article (19).jpg" src="http://images.ctfassets.net/8pr762qjocl3/4C9NPZEO9ogDrBXlmlP6VN/40a9a9bdc056f27893fee4d298235868/Copy_of_In-article__19_.jpg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/4C9NPZEO9ogDrBXlmlP6VN/40a9a9bdc056f27893fee4d298235868/Copy_of_In-article__19_.jpg" data-mce-style="height: 100%;"></div><div class="slider-el"><img style="height: 100%;" title="Copy of In-article (17).jpg" src="http://images.ctfassets.net/8pr762qjocl3/6kZ7ws3LKXqT8aWGLNDQra/cacd91e8aebffacfb42b9f9f292a5987/Copy_of_In-article__17_.jpg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/6kZ7ws3LKXqT8aWGLNDQra/cacd91e8aebffacfb42b9f9f292a5987/Copy_of_In-article__17_.jpg" data-mce-style="height: 100%;"></div><div class="slider-el"><img style="height: 100%;" title="Copy of In-article (18).jpg" src="http://images.ctfassets.net/8pr762qjocl3/Z0Npv1qqm7llihz3GFDsQ/6862b0347a70b78df1f27641932e5550/Copy_of_In-article__18_.jpg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/Z0Npv1qqm7llihz3GFDsQ/6862b0347a70b78df1f27641932e5550/Copy_of_In-article__18_.jpg" data-mce-style="height: 100%;"></div><div class="slider-el"><img style="height: 100%;" title="Copy of In-article (16).jpg" src="http://images.ctfassets.net/8pr762qjocl3/49Mmo38ZeJITdGenwV1uQg/30420d11337c1d762b9c4f9e313bf2ea/Copy_of_In-article__16_.jpg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/49Mmo38ZeJITdGenwV1uQg/30420d11337c1d762b9c4f9e313bf2ea/Copy_of_In-article__16_.jpg" data-mce-style="height: 100%;"></div><div class="slider-el"><img style="height: 100%;" title="Copy of In-article (15).jpg" src="http://images.ctfassets.net/8pr762qjocl3/5RSS4HVOd5SpEr5Ii835dc/362f5a56346bd5345d813b73b3b5bfd1/Copy_of_In-article__15_.jpg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/5RSS4HVOd5SpEr5Ii835dc/362f5a56346bd5345d813b73b3b5bfd1/Copy_of_In-article__15_.jpg" data-mce-style="height: 100%;"></div></image-carousel></div></div><p><br>To support its Victorian expansion, Abadeen has employed Andrew Leoncelli (pictured above) as managing director of the Victorian division.&nbsp;</p><p>Leoncelli served as the director of the Melbourne Football Club as well as development manager for Hamton Property Group, and spearheaded CBRE’s residential projects business in Victoria.&nbsp;</p><p>A prolific developer predominantly on in Sydney’s North Shore, Abadeen this year<a data-mce-href="https://www.theurbandeveloper.com/articles/abadeen-lower-north-shore-shoptop-approved" href="https://www.theurbandeveloper.com/articles/abadeen-lower-north-shore-shoptop-approved" target="_blank" rel="noopener">&nbsp;secured approvals for the $22-million second stage</a> of a mixed-use shoptop development in the area, and <a data-mce-href="https://www.theurbandeveloper.com/articles/abadeen-group-build-to-rent-platform-launched" href="https://www.theurbandeveloper.com/articles/abadeen-group-build-to-rent-platform-launched" target="_blank" rel="noopener">launched a build-to-rent platform in the market</a> in June this year.</p><p>The company said the expansion into Victoria “aligns with the company’s national growth strategy, having successfully delivered 80-plus high-end projects during the past 28 years, totalling more than $3 billion of premium commercial, residential, and mixed-use developments...”.</p>

Double feature of luxury residential projects marks Abadeen’s first foray into the Victorian market…

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<p>Plans have been filed to convert a Darwin CBD hotel into homes.</p><p>The Darwin Esplanade Central Apartment Hotel stands nine storeys at 88-90 Esplanade and comprises 58 one-bedroom and 85 two-bedroom units.</p><p>It offers a mix of hotel rooms and serviced apartments, the latter of which were privately owned.&nbsp;</p><p>Under the application, all rooms would be converted to private homes.&nbsp;</p><p>The site, formerly Mantra on the Esplanade, has restaurant and ground-floor commercial units, which would not be affected by the plan.</p><p>According to CBRE, Darwin has been among the “standout performers exceeding pre-pandemic occupancy” as it benefitted from domestic visitors, however, it is also lagging with lower recovery rates of international arrivals.</p><p>There has been no new hotel supply in Darwin for several years and none are under construction, although there are proposals for Quest Darwin and the <a href="https://www.theurbandeveloper.com/articles/boutique-hotel-darwin-cbd-plan" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/boutique-hotel-darwin-cbd-plan">120-key Northern Hotel on Peary Street</a>.</p><p>CBRE said it expected short-term heightened construction costs to act as a “major barrier” to entry in the Darwin market.</p>

Plans have been lodged to turn a 140-key hotel in the Darwin CBD into private residential units…

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<p>The New South Wales government’s attempts to fast-track developments have been met with cautious optimism by the property industry.&nbsp;</p><p>In the past month, the NSW government has announced the implementation of development <a href="https://www.nsw.gov.au/media-releases/minns-government-to-fast-track-top-quality-building-designs" target="_blank" rel="noopener" data-mce-href="https://www.nsw.gov.au/media-releases/minns-government-to-fast-track-top-quality-building-designs">pattern books</a> and the end of design competitions for high-rise developments in key areas—last week it launched plans to fast-track <a href="https://www.nsw.gov.au/media-releases/new-rules-to-fast-track-low-rise-and-mid-rise-housing" target="_blank" rel="noopener" data-mce-href="https://www.nsw.gov.au/media-releases/new-rules-to-fast-track-low-rise-and-mid-rise-housing">a greater diversity of homes on brownfield land.</a></p><p>Affordable housing developer Nightingale has been focused on the Victorian market but launched in Sydney <a href="https://www.theurbandeveloper.com/articles/nightingale-fresh-hope-marrickville-build-to-rent-apartments" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/nightingale-fresh-hope-marrickville-build-to-rent-apartments">with its build-to-rent project in Marrickville</a>.&nbsp;</p><p>Nightingale chief executive Dan McKenna says that any move forward is positive.</p><p>“It seems a moment in time when the state and federal governments are starting to realise the need for speed; to get going and get moving, and the NSW government is leading that charge with things like the pattern book plans,” McKenna says.</p><h2><strong>Encouragement for new players</strong></h2><p><br>NSW Building Commissioner David Chandler says the aim of the Built It NSW initiative, which is overseeing pattern book creation, is to support continued quality accountability as housing is fast-tracked.</p><p>“The fact is, we need between 50 and 100 new players—builders and developers—to come into the market,” Chandler told <em>The Urban Developer.</em></p><p>“We have these grand conversations with mature and big businesses, but those Tier 1 contractors are only about 15 to 20 per cent of the players in the market.</p><p>“As we bring new players in, we need to set them up for success, not let them fail at the bottom because that will erode the foundations of all the work we’ve done.”&nbsp;</p><div id="7qlNUmK0NJh2BqlgeQE2Sx"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4eg31adYGWfikNqfmwRkXS/5631401b97ff33ff6c89b905c4c81899/fast_track_mid_2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4eg31adYGWfikNqfmwRkXS/5631401b97ff33ff6c89b905c4c81899/fast_track_mid_2.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Between 119,400 to 138,550 new homes will be built in Greater Sydney during the next five years but there’s a limit to how far developers can expand outwards.<br><br></span></div></div><p>Chandler suggests that the class of small and medium developers and builders will move from Class 1 to Class 2 building work, which tends towards smaller apartments.</p><p>“I’m 100 per cent behind that push to build up but we have a lot of work to do to enable the migration of players into that Class 2 space.”&nbsp;</p><p>One of these methods is the recently announced pattern books.</p><h2><strong>Balancing quality and cost</strong></h2><p><br>“What developers and builders are finding is that they are challenged to produce a level of high-quality, declared construction designs before they start,” Chandler says.&nbsp;</p><p>“The development application [DA] sets the context, the envelope, the scale, the urban fit—all of that is resolved in the design pattern book, [so the next step is populating] those envelopes with ready-to-go details; the layout of apartments, lift shafts, bathroom configuration and so on.&nbsp;</p><p>“What we’re proposing to do is to create a library with maybe 40, 60 or more standard layouts so there is a palette of designs to drag into the approved DA.”&nbsp;</p><div id="l3KEYuwz1K81MqxzMswMK"><picture><img src="//images.ctfassets.net/8pr762qjocl3/61QHIbVUymQIxRjv4OymLf/1c7aae9c24861d0bdc7161ade2182214/Copy_of_In-article__11_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/61QHIbVUymQIxRjv4OymLf/1c7aae9c24861d0bdc7161ade2182214/Copy_of_In-article__11_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Construction and layout designs will be made freely accessible on a new platform for designers and developers.<br><br></span></div></div><p>“We want to take these entrants into our market and give them tools they can quickly apply and set them up for success, not failure,” Chandler says.</p><p>“Insurers and financiers will look at the product and say, ‘Isn’t it good you’re not making it up every time’, because they are using repeated designs.”&nbsp;</p><p>Chandler hopes that this will also help alleviate cost issues facing developers that have made housing, especially affordable homes, <a href="https://www.theurbandeveloper.com/articles/urbis-report-sydney-east-west-development-divide" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/urbis-report-sydney-east-west-development-divide">unfeasible in some areas of the state</a>.</p><p>“We’ll put in the library the things that give the developers and builders a choice, which is different to the way a real estate agent might push them.&nbsp;</p><p>“Those agents might say, you have to have marble benchtops and three bathrooms. An additional bathroom can cost between $45,000 and $70,000, which adds up to drive the cost through the roof.</p><p>“That creates aspirational housing, not housing for workers or the starting-out buyer or the trade-down buyer.</p><p>“We’ve been overly focused on the aspirational and we’ve been negligent in creating stock that allows people to enter the market or move down.&nbsp;</p><p>“This will help projects to become more affordable but they do not need to be of lesser quality.”&nbsp;</p><div id="TnlujdU4Xd4Fd03EvpVbV"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7pwPOrEfZatY6G0EBvgkoJ/34162050a8f8814c6a10abdd63f03e60/Nightingale_fast_track_mid.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/7pwPOrEfZatY6G0EBvgkoJ/34162050a8f8814c6a10abdd63f03e60/Nightingale_fast_track_mid.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The Inner West Council has agreed to waive the $1.2-million discretionary developer contribution for Nightingale and Fresh Hope’s Marrickville project.<br><br></span></div></div><p>McKenna says that pattern books can scare people.&nbsp;</p><p>“But it doesn’t preclude good design, high-quality housing and good outcomes; it’s just a replication of those things rather than starting from scratch every time.</p><p>“Like everyone in the industry we are really focusing on construction price escalations and what it does to our projects going forward.&nbsp;</p><p>“It’s now about replication and efficiency, we’re not necessarily reinventing the wheel from a design and construction sense, it’s about scale and speed.</p><p>“It’s still going to be a case-by-case basis but if we can do something in four rather than 14 months then let’s do that.”&nbsp;</p><h2><strong>Mid rise on the up</strong></h2><p><br>Property consultant Charter Keck Cramer says that mid-rise development is “essential” and that 34 per cent of the 156,000 apartments currently approved were medium density.</p><p>“The medium-density stuff, the so-called ‘missing middle’, is a good development. It’s a housing typology that’s quite popular and there should be a lot more of it,” University of Sydney senior lecturer in urbanism Dr Laurence Troy says.</p><p>The NSW government clearly has the same sentiment, having introduced rules to allow apartment buildings between three and six storeys, terraces, townhouses and smaller one-totwo-storey apartment blocks in suburbs where they are not currently allowed.</p><p>Property Council NSW executive director Katie Stevenson welcomed the news, particularly the removal of the need for design competitions.</p><p>“Unfortunately, site-by-site design competitions have added substantial delays to the planning system and it’s good to see that the government is retaining a commitment to design excellence while moving to a more efficient model,” she says.</p><div id="1oj3cmjIVMMftv8ccZG2sE"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4QBqxLe9JWWW1wgtYDvj2q/3de778acd452c0ea765c08abb8109ad2/Copy_of_In-article__14_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4QBqxLe9JWWW1wgtYDvj2q/3de778acd452c0ea765c08abb8109ad2/Copy_of_In-article__14_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The rule changes allow mid-rise apartment blocks near transport hubs and town centres in R3 medium-density zones and appropriate employment zones.<br><br></span></div></div><p>Design Excellence Competitions have proven both a boon and a bane for the NSW property sector, according to Fender Katsalidis partner Rob Mirams.</p><p>“The Design Excellence Competition process, while intended to identify and elevate exceptional design proposals, can also be a resource-intensive approach,” he says.&nbsp;</p><p>“The direct appointment of highly qualified architects, in collaboration with councils and design panels, offers a more efficient and cost-effective path to achieving exceptional design outcomes.</p><p>“By streamlining the design selection process, we could redirect resources toward critical initiatives such as affordable housing, transportation networks, schools, and hospitals.”</p><p>“In Victoria, our guidelines are certainly less prescriptive than NSW,” Fender partner James Pearce says.&nbsp;</p><p>“On one hand, this allows for more freedom and creativity in the design interpretation, but on the other hand, discretionary controls also lend themselves to more uncertainty and the potential for longer timeframes.”&nbsp;</p><h2><strong>Another piece of the puzzle</strong></h2><p><br>Of course, cutting down planning and design times is just one piece of the puzzle, and the Building Commissioner says that a fundamental reassessment of how the construction and development industries operate is required.&nbsp;</p><p>“It has been so long since builders have gone back and rethought the process of construction, and reflected on where the leakages of cost and time are,” Chandler says.</p><p>“[Part of the problem is that] the way we go about building buildings is not organised well. You can improve your profitability by improving your productivity.&nbsp;</p><p>“Every time you bring a new player on to the site you need an overhead for this person. Let’s go the other way and reconsolidate trade packages into elemental packages and start to reduce the number of businesses that need to come on to the site?”</p><div id="5qDaSjXWX6hSn3inf4L8yg"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2ao42QhSixLPa0SYVeDYJV/5f541125d9ece6e583f940be7e05c026/Copy_of_In-article__13_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/2ao42QhSixLPa0SYVeDYJV/5f541125d9ece6e583f940be7e05c026/Copy_of_In-article__13_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The reforms create capacity for industry to deliver up to an estimated 112,000 new homes, 30 per cent of NSW’s Housing Accord target.<br><br></span></div></div><p>While the NSW government is making moves to help the process, there are more systemic challenges to fast-tracking development.</p><p>“The planning process is not the biggest issue,” Troy says.&nbsp;</p><p>“Development consent only occupies around 7 per cent of the total timeline of a development.</p><p>“Before the DA you have to sell the units before the banks will offer the financing, and that takes time, and that has little to do with the planning system.&nbsp;</p><p>“Developers will rarely build 500 units in one go and the banks don’t want them to do that and flood the market so they stage the output, and control the release and again—that’s not about planning.</p><p>“We can’t force the banks to fund things inherently risky but making the whole supply system inherently less risky would be a step in the right direction.”<br><br></p><hr><p><strong><br>You are currently experiencing&nbsp;<em>The Urban Developer</em>&nbsp;Plus (TUD+), our premium membership for property professionals.&nbsp;</strong><a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"><strong>Click here to learn more.</strong></a></p><div id="2GhuueZl01Zwo2aFfjNVi2"><div data-rmiz-wrap="visible"><div id="2GhuueZl01Zwo2aFfjNVi2"><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><br></div></div></div></div></div>

Delivery of housing, especially affordable homes, in New South Wales is being sped up by pattern books and mid-rise fast tracking, but is it enough?

West v East EDM.jpg

<p>As a housing crisis grips the nation, Sydney is adding another layer of pain—imbalances in planning, higher costs of construction and taxes are creating a development feasability divide between the city’s east and west.</p><p>But it shouldn’t have to be a decision between feasibility and equity, says Urbis regional director for NSW Princess Ventura, on the heels of the launch of the company’s new <em>Partnership for Prosperity</em> report.</p><p>The problems in NSW are bigger than one stakeholder can solve, Ventura says.</p><p>“There has to be a paradigm shift in terms of how we look at the challenges and potential solutions to those challenges that are before us, rethinking how we consider solutions to those challenges rather than just treating it as business as usual.”</p><h2><strong>West v East</strong></h2><p><br>In recent months there has been a noticeable downturn in development applications for individual residential apartment buildings in Western Sydney.&nbsp;</p><p>While there has been movement in far western housing developments such as <a href="https://www.theurbandeveloper.com/articles/subdivision-paves-way-for-7000-home-sydney-masterplan" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/subdivision-paves-way-for-7000-home-sydney-masterplan">Mirvac’s Glenmore Park</a> and the <a href="https://www.theurbandeveloper.com/articles/subdivision-paves-way-for-7000-home-sydney-masterplan" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/subdivision-paves-way-for-7000-home-sydney-masterplan">7000-home Lowes Creek Maryland Precinct</a>, many apartment developments have focused on the east of the city, including <a href="https://www.theurbandeveloper.com/articles/luxury-rose-bay-residential-plans-filed" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/luxury-rose-bay-residential-plans-filed">Rose Bay</a>, Bondi, and Cronulla, such as <a href="https://www.theurbandeveloper.com/articles/central-element-neutral-bay-expansion-approved-sydney" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/central-element-neutral-bay-expansion-approved-sydney">Central Element’s $180-million Neutral Bay development</a>.</p><p>The co-founder of Sydney integrated property developer and construction company, Perifa, Fabrizio Perilli says this is not a one-off trend.</p><p>“There’s a formula,—construction costs plus contribution taxes and levies and existing development controls in Sydney equals either unaffordable development or no development,” Perilli says.</p><p>“At the lower end, you’re delivering construction cost per home of somewhere around $550,000, but the average is more like $650,000 and it goes north from there.</p><p>“With something like $65,000 in taxes on top of that, you’re at $700,000 to $800,000 per unit, without all the other costs incurred by the developer.</p><div id="10CXLTk0d2dD1HB1KA7Wt0"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3BH417L2Hrz2PqGCFz0qXu/3267c5724dbd148bf36dd748eee6893f/Copy_of_In-article__6_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3BH417L2Hrz2PqGCFz0qXu/3267c5724dbd148bf36dd748eee6893f/Copy_of_In-article__6_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Central Element’s Pienza is one of a host of developments geared towards the higher, luxury end of the market.<br><br></span></div></div><p>“Where that gets us to in NSW is that you cannot deliver a project that is saleable and also meets the banks return requirements for less than an average cost of $1.2 million per apartment.&nbsp;</p><p>“You physically can’t deliver a project at a cost that allows you to make the required margin to satisfy the financiers on and under that.”&nbsp;</p><p>This has led to a rethink, he says.</p><p>“So as a developer, you think, where are those places that can afford those homes?&nbsp;</p><p>“As a result, we’ve been noticing a lot more boutique developments in the eastern suburbs and lower North Shore, rather than Western Sydney where they would be more affordable.”</p><p>Hamid Savid of Orosi developments, which in October revealed $250-million plans for a newly amalgamated site at Rose Bay, says interest rates are also a key factor.&nbsp;</p><p>“Due to the increasing interest rates, developers are focusing on areas with a downsizer demographic,” Savid says.&nbsp;</p><p>“These buyers are less affected by interest rates and offer a safer investment option.”</p><h2><strong>Finding a way out</strong></h2><p><br>While construction costs cannot necessarily be forced down in the short term, the Urbis report put forward potential solutions to the housing problems facing the state, highlighting the Sydney Western Harbour Business Improvement District (BID) as a project that should be replicated.</p><p>As a result of the success of that project, Transport for NSW is proposing a new policy to make it easier for BIDs to be set up in NSW.&nbsp;</p><p>This top-level, holistic masterplanning happens at different levels in precinct planning, and mixed-use projects are already proving to be a balanced choice for liveability and feasibility.</p><div id="30510vrQ4pYDzCNdgz9Rn0"><picture><img src="//images.ctfassets.net/8pr762qjocl3/jXGOOSNtIwaBGmhpQQydA/398a212de522e2142109cbd0c0e0c3b8/Cronulla_apartments_in-article.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/jXGOOSNtIwaBGmhpQQydA/398a212de522e2142109cbd0c0e0c3b8/Cronulla_apartments_in-article.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Cronulla has also received luxury high-end apartment developer interest over the last year. </span></div></div><p><br>“But there are good and bad precincts,” Perilli says.&nbsp;</p><p>“As cities mature—and Sydney is a maturing, established city—you’ll find that as risk diversification and minimisation of risk, mixed-use is probably going to be a predominant type of development in the urban areas, because that's what the community is demanding in that terms of mixed-use, residential, bit of retail.</p><p>“We’re getting better with precinct masterplanning and development, but that’s definitely an area where the local governments can engage and be clear about what outcomes they would like to see, so the development industry can respond.&nbsp;</p><p>“The other thing with precincts, whatever we develop today, in 10 years’ time we will need to change as well, as developing that base infrastructure, it can be changed.”&nbsp;</p><p>Mixed-use precincts mean a more complex feasibility equation, but one that is perhaps more robust than single-use sites.</p><p>“We need to get more mixed-use outcomes, we need to sweat assets more, especially in a time where we have budgetary constraints and are heading for difficult economic times,” says Urbis’s Ventura.</p><p>“They have so many positive implications, and makes an area vibrant, encourages passive surveillance so it makes it safer, improves the amenities and the look and feel of a place.&nbsp;</p><div id="4GJop3FF8I6JHJPFkU3NrT"><picture><img src="//images.ctfassets.net/8pr762qjocl3/58I4e5GLTefQA9yGZ7t7Xz/02de449521b5c6071df2933fc7ae9b18/Clutch_Curlewis_MID.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/58I4e5GLTefQA9yGZ7t7Xz/02de449521b5c6071df2933fc7ae9b18/Clutch_Curlewis_MID.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Developer Clutch has been greenlit for luxury Bondi apartments this year.<br><br></span></div></div><p>“It also improves people’s livability outcomes: you don’t need to travel to so many places to do what you need to get done. If you save that time, you can spend it with family and friends.”</p><h2><strong>End of adversarial relationships&nbsp;</strong></h2><p><br><em>Partnership for Prosperity</em> also suggests that “we need to shift the adversarial relationship between planning authorities, infrastructure and service agencies, developers and civil society to one of co-operation and joint accountability”.&nbsp;</p><p>“There’s this common underlying theme that developers are making all this money at the expense of the purchaser or occupier of a building,” says Perilli.</p><p>“It’s time that misapprehension is called out. Delivering appropriate developments and making a profit should not be mutually exclusive.”</p><div id="4RE7GOJ0noJhV4bU7RbOJR"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6cetZCEdPM7C31J6ZX2lvt/2af9d94c350831fa8b41febc41dda221/In-article__68_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6cetZCEdPM7C31J6ZX2lvt/2af9d94c350831fa8b41febc41dda221/In-article__68_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Orosi Developments has previously worked on luxury apartment developments including 18 villa-style apartments in Cronulla.<br><br></span></div></div><p>Ventura suggests that holistic KPIs and equity-focused targets should be a collective effort.</p><p>“One measure of success would be if we could have a more balanced conversation and a more balancd framework for assessing DAs,” Ventura says.&nbsp;</p><p>“Our planning system implicitly assumes—and our investment decisions assume—that if we did not do anything then we would get to enjoy the lives we do today, but that’s not the truth.&nbsp;</p><p>“Things will deteriorate if we don’t invest and approve developments quicker, deliver better developments, integrate and have more holistic outcomes. If we don’t, we’re not going to be able to continue to enjoy the lifestyles we enjoy in New South Wales.”&nbsp;</p><p>An adaptable and holistic approach is necessary, Ventura says.&nbsp;</p><p>“We measure what we value. In Singapore, for instance, their target is that median home price should not exceed five times the average household income.&nbsp;</p><p>“Something I would like to see is that we treat equity outcomes with the same seriousness as with other macroeconomic factors and we change attitudes and our approach depending on those outcomes.”<br><br></p><hr><p><strong><br>You are currently experiencing <em>The Urban Developer</em>&nbsp;Plus (TUD+), our premium membership for property professionals.&nbsp;</strong><a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"><strong>Click here to learn more.</strong></a></p><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>

A noticeable downturn in Western Sydney residential development over the Eastern suburbs has highlighted trends in NSW, which Urbis’ latest report seeks to address…

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<p>Pyco Group is pushing forward its West End apartment development Atelier after appointing a builder.</p><p>The 36-unit block will replace the former Brisbane Backpackers site at 110 Vulture Street.&nbsp;</p><p>The Brisbane City Council <a href="https://www.theurbandeveloper.com/articles/backpackers-west-end-atelier-pyco" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/backpackers-west-end-atelier-pyco">approved the development in October 2022</a> and Pyco has appointed Brick Construction to begin work in February, 2024.&nbsp;</p><p>Atelier will have multi-level apartments throughout, all three-bedroom vertical terraces.&nbsp;</p><p>Pyco said the DAH Architecture-designed apartments were a “modern take on Brisbane’s iconic Queenslander” and would start at $2.1 million, with rooftop apartments from $2.8 million.&nbsp;</p><p>According to a popular real estate listing website, median three-bedroom unit prices in Brisbane’s West End sit around $1.2 million.</p><p>Property marketing company YPM Group said that 80 per cent of the Atelier residences were sold.</p><div id="carousel-root" data-reactroot=""><image-carousel-remove-button><div class="rm-carousel-wrapper"><button id="rm-carousel" class="rm-carousel-btn">Delete</button></div></image-carousel-remove-button><div class="slider-wrap"><image-carousel><div class="slider-el"><img style="height: 100%;" title="Copy of In-article (800 × 800 px).jpg" src="http://images.ctfassets.net/8pr762qjocl3/2tn5XWY0gu5ajG90RUvEAF/30d6ba8508b3c96082d5be95c658e2fd/Copy_of_In-article__800___800_px_.jpg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/2tn5XWY0gu5ajG90RUvEAF/30d6ba8508b3c96082d5be95c658e2fd/Copy_of_In-article__800___800_px_.jpg" data-mce-style="height: 100%;"></div><div class="slider-el"><img style="height: 100%;" title="Copy of In-article (9).jpg" src="http://images.ctfassets.net/8pr762qjocl3/1AhYM43o6iY1jdQv8GAoMj/7dd966b88658c05006de148e3d64fccd/Copy_of_In-article__9_.jpg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/1AhYM43o6iY1jdQv8GAoMj/7dd966b88658c05006de148e3d64fccd/Copy_of_In-article__9_.jpg" data-mce-style="height: 100%;"></div><div class="slider-el"><img style="height: 100%;" title="Copy of In-article (800 × 800 px) (1).jpg" src="http://images.ctfassets.net/8pr762qjocl3/4vTW9w5Z9upaUf6GhnWfUy/d69d89bf1138d75c06a79c6d44f6bc4e/Copy_of_In-article__800___800_px___1_.jpg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/4vTW9w5Z9upaUf6GhnWfUy/d69d89bf1138d75c06a79c6d44f6bc4e/Copy_of_In-article__800___800_px___1_.jpg" data-mce-style="height: 100%;"></div><div class="slider-el"><img style="height: 100%;" title="Copy of In-article (8).jpg" src="http://images.ctfassets.net/8pr762qjocl3/6dcjWITiZIOrce98QxlL8D/3ec5dd1ad8879d726438bfe0829f2610/Copy_of_In-article__8_.jpg" data-mce-src="http://images.ctfassets.net/8pr762qjocl3/6dcjWITiZIOrce98QxlL8D/3ec5dd1ad8879d726438bfe0829f2610/Copy_of_In-article__8_.jpg" data-mce-style="height: 100%;"></div></image-carousel></div></div><p><br>Sydney-based Pyco Group has turned its attention to Brisbane in recent years with Atelier as well as The Bailey, another West End project, which it completed to deliver 26 boutique two and three-bedroom apartments.</p><p>Brisbane has been undergoing changes ahead of the 2032 Olympics, with developers focusing on boutique apartments such as OpenCorp’s <a href="https://www.theurbandeveloper.com/articles/twin-tower-albion-brisbane-development-application" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/twin-tower-albion-brisbane-development-application">11-storey Albion twin tower residential development</a> and Fortis’s recently approved $100-million <a href="https://www.theurbandeveloper.com/articles/fortis-slender-brisbane-tower-kangroo-point-approved" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/fortis-slender-brisbane-tower-kangroo-point-approved">Kangaroo Point luxury apartment project.</a></p>

Work is set to begin on Pyco Group’s West End development which it calls a “modern take on Brisbane’s iconic Queenslander”...

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<p>Landcom has launched plans for a build-to-rent project in Bomaderry in the south of NSW.&nbsp;</p><p>The $30-million pilot project by the state government-owned developer would deliver 50 new homes, of which 20 per cent will be affordable.&nbsp;</p><p>The development is slated for a site at 53-57 Bolong Road, and 4 and 8 Beinda Street at the southern end of Bomaderry town centre in the City of Shoalhaven.</p><p>Bombaderry is north of Nowra and about 2½ hours south of Sydney.</p><p>The site is near the Bomaderry train station, Nowra TAFE, and parks and road networks, including the recently upgraded Princes Highway.</p><p>Work is under way to complete the design and planning ahead of a development application being filed.&nbsp;</p><p>Subject to approvals, construction is planned to begin next year ahead of residents moving in by the end of 2026.</p><p>It is part of the NSW government’s build-to-rent program that also includes Landcom is delivering 50 apartments on the Tweed, although details of this project in the state’s north have not been released.</p><p>The South Coast has one of the lowest rental vacancy rates in the state and 47 per cent of Nowra households are experiencing rental stress.</p><p>Prior to its NSW election win, Labor pledged to focus on build-to-rent projects in regional areas, including turning surplus public land into rental stock.&nbsp;</p><p>“We need more housing options for essential workers, particularly in regional areas where it is difficult to retain staff,” Minister for the Illawarra and South Coast Ryan Park said.</p><p>“With better housing security and affordability available, we can attract more health workers to the South Coast which will improve outcomes for the entire community.”</p><p>Minister for Housing Rose Jackson said that the state government “knows that it needs to be directly involved in confronting the housing crisis”.</p><p>“The build-to-rent program delivered through Landcom represents a direct intervention into regional housing markets to deliver more affordable housing properties and is one of the first steps that we are taking to better support our regional communities,” she said.</p>

The first of a double feature of build-to-rent projects in regional New South Wales has been launched by Landcom…

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<p>A former Gold Coast property development company director has been charged with fraud after an Australian Securities and Investments Commission (ASIC) investigation.</p><p>Ian Omar Chester was involved with Vested Capital Pty Ltd and several other associated companies engaged in projects in south-east Queensland.&nbsp;</p><p>Chester appeared today at Southport Magistrates Court charged with 15 counts of fraud, three counts of falsifying company records and two counts of providing false or misleading information to the members of a corporation.</p><p>The charges related to Chester’s activities with the Vested group of companies, of which 14 were wound up in July 2021, and a further company was liquidated in the aftermath.&nbsp;</p><p>According <a data-mce-href="https://archive.sclqld.org.au/qjudgment/2021/QSC21-173.pdf" href="https://archive.sclqld.org.au/qjudgment/2021/QSC21-173.pdf" target="_blank" rel="noopener">to court documents from 2021</a>, Chester was the sole director of a company called 53 Rankin Investments Pty Ltd which took $1.1 million from investors to develop a site at 53 Rankin Parade, Main Beach.&nbsp;</p><p>No land had been acquired and no development ever took place, but the funds were retained and it was alleged that there was a transfer of funds from the Rankin Parade company to another, of which Chester was the sole director.</p><p>Subsequently, ASIC took action against Chester and his wife Sophie Sylvia Chester to enact asset preservation orders, freezing their assets while an investigation was ongoing.</p><p>This matter is being prosecuted by the Commonwealth Director of Public Prosecutions, and the maximum penalty for fraud offences ranges between 14 to 20 years imprisonment.&nbsp;</p><p>Southport Magistrates Court advised <em>The Urban Developer</em> that a bail undertaking had been entered in Chester’s case and he was due back in court on February 5, 2024.</p><p>Chester’s live LinkedIn states that he was an “astute property investor” and managing director of Vested Property Group.&nbsp;</p><p>He said that he had a ‘personal track record’ of $767 million in residential sales and had delivered $64 million in residential projects, although these figures could not be independently verified.&nbsp;</p><p>Chester declared bankruptcy in July 2022, which is classed as an undischarged bankrupt, as the bankruptcy process is still ongoing.</p>

A Gold Coast developer who had his assets frozen following the wind up of his associated companies in 2021 is now facing fraud charges…

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<p>UniLodge has submitted plans for a 32-storey Perth purpose-built student accommodation tower.&nbsp;</p><p>The prolific student accommodation specialist is planning the 832-bed tower, designed by Rothelowman, for a site at 609 Wellington Street.</p><p>The project was filed with the City of Perth Council this week by UniLodge, the largest student accommodation provider in Australia, which manages 36,000 beds across 105 facilities.</p><p>Aiming for a 5-star Green Star rating, the building would include study hubs and a gym on level two, with communal terrace gardens and amenities on the rooftop.</p><p>There would be a mix of one and twin-bed studio apartments, as well as five-bed cluster apartments.</p><p>The Perth tower would also have a ground floor cafe on Wellington Street. The Railways Institute Building, built in 1897, is next to the site.</p><p>The proposed development site is in the northern fringe of Perth CBD.</p><p>According to a CBRE report into student accommodation from August last year, Australia is deeply under-supplied with just one PBSA bed for every 16 students.&nbsp;</p><p>In Perth, this situation is even more challenging.&nbsp;</p><p>According to Australian Unity, which teamed with investment manager MaxCap Group and UniLodge last month to develop $1 billion of PBSA, about 92 per cent of students are unable to access student accommodation in Perth.&nbsp;</p><p>The first seed asset in the trio’s planned portfolio is a 732-bed, 30-storey tower at 319-335 Wellington Street, near the new 60,000sq m Edith Cowan University campus development.&nbsp;</p>

Plans for a UniLodge highrise totalling 832 student apartments is being planned for a Perth CBD location…