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Stockland has bought up a 26-hectare site east of Geelong for a new masterplanned land lease community.The developer will submit plans for about 325 land lease homes and a further 100 residential homes for the site at 32-70 McDermott Road at Curlewis, which it acquired at the end of April for an undisclosed sum.Stockland’s Halcyon Communities executive general manager Richard Rhydderch said there was strong demand from buyers looking for coastal lifestyle in the greater Geelong region.“The Bellarine market has enjoyed substantial price growth as more people see it as an alternative to Melbourne,” Rhydderch said.“This acquisition gives Stockland a unique opportunity to add to our pipeline of 9,000 LLC sites across Australia and build on our current exposure in the Greater Geelong and Bellarine Peninsula market.”The Stockland <a data-mce-href="https://www.theurbandeveloper.com/articles/stockland-halcyon-retirement-communities" href="https://www.theurbandeveloper.com/articles/stockland-halcyon-retirement-communities" target="_blank">Halcyon Communities model</a> allows customers to purchase their new home outright with no entry or exit fees and pay a site rental fee, which covers council rates and includes access to community facilities.Rhydderch said there had been significant infrastructure spending across the region including a proposed new ferry terminal, road upgrades and the Geelong Convention and Exhibition Centre.“Curlewis offers the perfect mix for lifestyle-seeking retirees. The proposed masterplan will include a clubhouse and recreational facilities set in attractive landscaping complementary to the coastal and rural character of the precinct.“The proposed community will have access to established services, including a nearby shopping centre, and a mix of recreational and sporting activities. Geelong’s city centre and local beaches are nearby.”The Geelong growth corridor sales activity is now 45 per cent below its peak in the second quarter of 2021 as <a data-mce-href="https://www.theurbandeveloper.com/articles/melbourne-land-sizes-fall-as-prices-stablise" href="https://www.theurbandeveloper.com/articles/melbourne-land-sizes-fall-as-prices-stablise" target="_blank" rel="noopener">constrained land supply bites into the market and demand remains high</a>.RPM’s latest greenfield market data is showing the first signs of cooling in the Victorian land market to a more normalised pre-Covid level.&nbsp;In total, there was a 29 per cent year-on-year decrease in vacant lot sales from 6,793 in the first quarter of 2021, to 5,285 in 2022. Although this demonstrates a reduction in consumer demand, it is still at a level above historical lot sales levels, which have averaged around 1500 per month.RPM managing director of project marketing Luke Kelly said the market was starting to experience more of the “traditional headwinds”.&nbsp;“It’s especially important to consider factors such as rising interest rates and inflation, continued global supply chain challenges, local labour shortages and an upcoming federal election, which are all set to play out on buyer sentiment,” Kelly said.“Despite this, it’s promising to see that sales remain above historical average levels and record low median lot sizes are driving innovative new home design on smaller blocks, leading to a surge in townhouse builds across Melbourne’s major growth corridors.“An important indicator for the greenfield market is also the sustained median price growth of Melbourne’s established housing market. If this continues, this places the greenfield sector in goodstead to demonstrate further resilience thanks to its persistent affordability advantage.”Stockland recently unveiled <a data-mce-href="https://www.theurbandeveloper.com/articles/stockland-unveils-aud201m-tarneit-community" href="https://www.theurbandeveloper.com/articles/stockland-unveils-aud201m-tarneit-community" target="_blank" rel="noopener">plans for a $201-million community in Tarneit</a>.Stockland Wattle Park will comprise more than 500 lots across the 84ha site 33km west of Melbourne. Stockland paid $82 million for the&nbsp;<a href="https://www.theurbandeveloper.com/articles/stockland-wattle-park-melbourne" data-mce-href="https://www.theurbandeveloper.com/articles/stockland-wattle-park-melbourne">Sewells Road site in mid-2021</a>.

Stockland has bought up a 26-hectare site east of Geelong for a new masterplanned land lease community, which could help to ease the growth corridor's constrained land supply...

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The Hunter Valley has topped the regions to claim the mantle for highest annual price growth, but the breakneck speed outside of the capital cities is slowing. &nbsp; New South Wales’ Hunter region chalked up a 34.3 per cent price growth in houses and 20 per cent price growth for units, outpacing the other 24 regions in Corelogic’s quarterly regional market update.&nbsp; &nbsp; Sales volumes were also 16.4 per cent higher than a year ago and more than 25 per cent above the five-year average with the lowest vendor discount rates across the regions at just 1.8 per cent, and a median house price in the Hunter region of $737,568. &nbsp; But Corelogic research director Tim Lawless said across the board things were slowing down from a peak of 6.6 per cent price growth rate in April last year to 4.7 per cent in the first quarter of 2022.&nbsp; &nbsp; “Although demographic data is significantly lagged, <a data-mce-href="https://www.theurbandeveloper.com/articles/budget-2022-what-it-means-for-property" href="https://www.theurbandeveloper.com/articles/budget-2022-what-it-means-for-property" target="_blank">anecdotally we are still seeing strong demand for regional housing</a> supported by high internal migration rates,” Lawless said. &nbsp; “Across the Hunter Valley region the median value of a house is still well below $1 million implying less dampening pressures from worsening affordability. &nbsp; “The high level of demand is supported by estimates of home sales, which were tracking 20.1 per cent above the previous five-year average over the three months ending April 2022. &nbsp; “It seems many employers across the relevant industries have implemented permanent hybrid working arrangements for staff which is likely to be supporting the stronger demand trend across regional Australia.” &nbsp; The New England and North West region of New South Wales recorded a record 42.9 per cent increase in sales volumes in the 12 months to February 2022, the biggest increase in the country, but the region was also the slowest for sales, with houses on the market for an average 46 days.&nbsp; &nbsp; <a data-mce-href="https://www.theurbandeveloper.com/articles/top-regions-property-price-growth-australia" href="https://www.theurbandeveloper.com/articles/top-regions-property-price-growth-australia" target="_blank">The number of homes for sale across regional Australia is more than 40 per cent below the five-year average</a> and about 20 per cent lower than 12 months ago as stock on the market diminishes.&nbsp; &nbsp; But the outlook for regional growth rates is softening to more sustainable levels according to Lawless.&nbsp; &nbsp; “Arguably some regional markets will be somewhat insulated from a material downturn in housing values due to an ongoing imbalance between supply and demand,” he said. &nbsp; “We are continuing to see advertised stock levels remain extraordinarily low across regional Australia and settled sales activity looks to be holding firmer relative to the capitals.&nbsp; &nbsp; “A lot will depend on regional migration patterns and we expect the demographic trends to continue favouring regional housing markets, especially those regions with some lifestyle appeal within a few hours’ drive of the major capitals.”&nbsp; &nbsp;

The Hunter Valley has topped the regions to claim the mantle for highest annual price growth, but the breakneck speed outside of the capital cities is slowing...
 

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Brisbane’s office market continues to shake off the pandemic doldrums with two new commercial towers approved in the CBD and fringe suburbs.Property owner PGIM and development partner Indema's plan for a bold adaptive reuse of a 1970s commercial building at 444 Queen Street has won approval.&nbsp;The bronze 22-storey tower opposite Customs House will be stripped back to its core structure and <a data-mce-href="https://www.theurbandeveloper.com/articles/pgim-plans-queen-street-office-overhaul" href="https://www.theurbandeveloper.com/articles/pgim-plans-queen-street-office-overhaul" target="_blank" rel="noopener">completely remodelled with a new podium</a>, curtain wall facade and an additional two-storey sculptural canopy.Indema director Michael Bruderlin said they would be targeting a net zero certification for the building upon completion in the first quarter of 2024.&nbsp;Bruderlin said Hutchies had been engaged in an early contractor design and construct contract to help de-risk the project and better understand the technical requirements.The Fender Katsalidis-designed tower follows in the footsteps of another of its commercial adaptive reuse projects in Brisbane, Ashe Morgan’s Midtown, now the <a data-mce-href="https://www.theurbandeveloper.com/articles/rio-dumps-landlord-for-new-brisbane-digs" href="https://www.theurbandeveloper.com/articles/rio-dumps-landlord-for-new-brisbane-digs" target="_blank" rel="noopener">headquarters</a> for Rio Tinto.&nbsp;Bruderlin said retaining and repurposing the existing building is 400 per cent more environmentally friendly. Retaining the existing concrete structure provides a 70 per cent saving in embodied carbon.<div id="531ATNGv1WMxxZjwsCr3Ne"><picture><img src="//images.ctfassets.net/8pr762qjocl3/23NZE1GGZNGashF6BlEB6t/3242b423d4e32212a7d89f4fc2623d8a/444QueenStMID.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/23NZE1GGZNGashF6BlEB6t/3242b423d4e32212a7d89f4fc2623d8a/444QueenStMID.jpg"></picture><div>▲ An innovative adaptive reuse project to remodel and reposition a 1974 commercial building at 444 Queen Street has won approval. </div></div> The project will rejuvenate a 48-year-old building at the end of life into an A-grade commercial office asset and increase the net leasable area 40 per cent.Bruderlin said the project would have a quicker turnaround than a normal demolish and build project and it would use clever design initiatives to increase floor plates and create a better value proposition for the asset.&nbsp;PGIM <a data-mce-href="https://www.theurbandeveloper.com/articles/pgim-plans-queen-street-office-overhaul" href="https://www.theurbandeveloper.com/articles/pgim-plans-queen-street-office-overhaul" target="_blank" rel="noopener">purchased 444 Queen Street</a> for $54.4 million from the Public Trustee of Queensland and Abacus Property Group in October last year.Cornerstone has also won approval for a commercial development in the city fringe suburb of Fortitude Valley.The Bureau Proberts-designed tower will capture the heritage brick character of the Fortitude Valley centre “borrowing from the intent of these buildings but with a stridently different and contemporary expression”, planning documents said.“This approach is a deliberate counterpoint to the strong and solid brick structures of the immediately adjacent 47 Warner Street and McWhirters buildings.“Brickwork or masonry is not used as a material in deference to these neighbouring buildings allowing them to become more evident and make a clear statement about the era of their inception.”<div id="5U7fgFmt9g69ccpQKjy3gv"><div><div id="17ktcpINJkZcG1TxJkBA8W"><picture><img src="//images.ctfassets.net/8pr762qjocl3/75MkIlKWDjFEQKRu1Y4s4b/e6d26e352021fa26988e4fe7cb5c4ceb/251WickhamMID2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/75MkIlKWDjFEQKRu1Y4s4b/e6d26e352021fa26988e4fe7cb5c4ceb/251WickhamMID2.jpg"></picture><div>▲ Cornerstone's modern 28-storey commercial tower planned for 251 Wickham Street has won approval from the Brisbane City Council. </div></div> </div></div> The 28-storey commercial tower at 251 Wickham Street features a stepped slanting facade fronting Warner Street, with a four-storey lobby, and an inverted podium.&nbsp;There will also be a rooftop terrace, 20m pool and open-plan gym in the commercial tower, with retail offerings at the base of the building.&nbsp;Brisbane’s metropolitan office market vacancy was at 16.3 per cent at the end of March and there were few transactions across the quarter, according to Colliers research.But yields remained steady, and well above other capital cities, while incentives remained stagnant at 40 per cent. &nbsp;

Brisbane’s office market continues to shake off the pandemic doldrums with two new commercial towers approved in the CBD and fringe suburbs...

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Arden Property Group has lodged plans for an eight-storey apartment tower next door to its Jade apartments development on Burdett Street at Albion.Euroa is a 76-apartment development on a 2676sq m site, which the developer bought in 2017 for $3 million.&nbsp;The Altis Architecture-designed tower is on the corner of Burdett Street and Crosby Road, with views over Crosby Park, a proposed Olympic sporting precinct for the 2032 Games.&nbsp;According to planning documents the development pays homage to the industrial history of the site and the Albion precinct.“The proposed design has taken a sensitive approach in respecting the industrial heritage significance of the existing site,” the report said. &nbsp; “The distinct angular roof form and brick palette of the existing industrial building have been reflected in the proposal by incorporating brick feature walls and overclad elements along the street frontage within the planting areas.”<div id="6qTkygj14fiUaBi1gIUwrp"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6SWtszXbQoCo4ienD00HRy/3196482e8be49bdfcc5c105aa0f78de2/AlbionEuroaMID.jpg" alt="9 Burdett Street Albion Arden Property Group" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6SWtszXbQoCo4ienD00HRy/3196482e8be49bdfcc5c105aa0f78de2/AlbionEuroaMID.jpg"></picture><div>▲ Arden Property Group's Euroa apartment tower pays homage to the industrial roots of the area. </div></div><a href="//images.ctfassets.net/8pr762qjocl3/6SWtszXbQoCo4ienD00HRy/3196482e8be49bdfcc5c105aa0f78de2/AlbionEuroaMID.jpg" target="_blank" rel="noopener" data-mce-href="//images.ctfassets.net/8pr762qjocl3/6SWtszXbQoCo4ienD00HRy/3196482e8be49bdfcc5c105aa0f78de2/AlbionEuroaMID.jpg"></a> &nbsp; The tower would comprise 19 one-bedroom apartments, 22 two-bedroom apartments, and 35 three-bedroom apartments with a communal rooftop area for residents with a rooftop pool, daybed area, and lounge and <a data-mce-href="https://www.theurbandeveloper.com/articles/brisbane-buoyant-housing-market-bucks-national-trend" href="https://www.theurbandeveloper.com/articles/brisbane-buoyant-housing-market-bucks-national-trend" target="_blank">views over Brisbane's evolving skyline</a>.&nbsp; &nbsp; The architectural design statement said the design outcome would improve street activation, as well as complement and enhance the medium density typology of Albion and leave a “compelling and long-lasting legacy of architectural expression”.Hoarding has been up on the site for some time, and it comes off the back of Arden Property Group’s four-building 369-apartment Jade development next door.&nbsp;Arden Property Group’s Jade development won approval in 2014, and was the first major residential development in Albion’s industrial precinct.&nbsp;Meanwhile former FKP executive director Philip Parker owns a significant stake in the Albion precinct, with storage sheds on Burdett Street and industrial sheds fronting Crosby Road in his portfolio. &nbsp;

Arden Property Group has lodged plans for an eight-storey apartment tower next door to its Jade apartments development on Burdett Street at Albion...

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Australia does not have a housing affordability crisis, it has a housing equality crisis and little is being done by either major party to address the widening gap according to some industry heavyweights.&nbsp;Housing affordability remains a hot topic in the lead up to the federal election with both major parties committing to tackling the issue, but neither has a plan to address the shortfall in supply of housing.<h2>Election commitments&nbsp; </h2>In a bid for re-election this weekend the LNP has announced a Super Home Buyer Scheme, which would enable first homebuyers to withdraw up to $50,000 from their superannuation to put towards a house deposit.&nbsp;It follows the lowering of age thresholds to 55 for lump sum payments into superannuation accounts after the sale of a property, aimed at incentivising downsizing and unlocking the property market.&nbsp;The Labor Party announced a 40 per cent shared equity scheme earlier this month, where the government would own a proportion of the property up to $380,000, limited by income caps of $112,000 per household.While the LNP’s two-pronged approach has been welcomed by the industry, a superannuation body has slammed the move.&nbsp;<h2>Superannuation raid will not fix affordability </h2>Australian Institute of Superannuation Trustees chief executive Eva Scheerlinck said raiding superannuation would inflate house prices and do nothing to address housing affordability.&nbsp;“Accessing your super early won't get you closer to your dream home or fix Australia's housing crisis. Using super as a deposit will drive up property prices, leaving Australians with higher debt and depleted retirement savings,” Scheerlinck said.“First home buyers are being asked to choose between a home and saving for their retirement, they should be able to have both.“The Australian government must address this modern-day inequity by addressing supply issues rather than raiding super. A first home should not come at the expense of dignity in retirement.”Corelogic head of research Eliza Owen said the scheme would favour affluent young people and deepen the housing equality problem.“The actual value that could be accessed through this scheme is relatively low for the typical young first homebuyer … they are typically younger, and the median super balance was just $25,000 for those aged between 25 and 34 years of age,” Owen said.“At 40 per cent, the scheme would offer just $10,000 at the median level, or the equivalent of some state-based first homeowner grants … the scheme could help increase the size of a standard deposit by around 1 per cent.”<div id="4388dAkJAihAR1ASkGlbIC"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1BOYeyuS9lpMl9PUwizOq9/b1d21b5613bc2e790a0acd4a4e86ab79/HousingPolicyMID.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/1BOYeyuS9lpMl9PUwizOq9/b1d21b5613bc2e790a0acd4a4e86ab79/HousingPolicyMID.jpg"></picture><div>▲ The take-up rate could be slow, which would insulate the market from demand-side shock, but would not address supply issues according to Corelogic research. </div></div> Owen said the take-up rate in first home buyers could be lower with the pull forward effect of the Homebuilder, <a data-mce-href="https://www.theurbandeveloper.com/articles/reserve-bank-increases-cash-rate-more-on-way" href="https://www.theurbandeveloper.com/articles/reserve-bank-increases-cash-rate-more-on-way" target="_blank">lower interest rates</a> and other stimulus measures.She said the downsizing incentive would theoretically release more established housing supply for younger families, and lowering the age threshold would qualify about 1.3 million households nationally for the scheme.&nbsp;But the lump sum superannuation deposit had only been used by about 22,000 households in the three years to May 2021.&nbsp;<h2>Inquiry report recommended superannuation as home loan security </h2>Utilising superannuation as security for a home loan was one of the key recommendations in the Inquiry into housing affordability and supply, which was released earlier this year.&nbsp;HIA managing director Graham Wolfe said he welcomed the Super Home Buyer Scheme, and it was an initiative the HIA had been lobbying for.&nbsp;“Access to finance for a deposit is the biggest obstacle for Australians trying to buy their first home, especially those paying rent while saving for their deposit,” Wolfe said.“When the house is sold they can put the money back into their retirement fund with a proportion of the capital growth in value of their home … they are effectively borrowing from themselves.”Property Council chief executive Ken Morrison said the downsizing incentive was welcome news but said more needed to be done to address housing supply.“The Super Home Buyer Scheme is another demand-side measure supporting the worthy goal of home ownership, but the primary challenge is to provide the housing supply and choice our growing communities need,” he said. &nbsp; “Falling supply and growing demand is a dangerous position for housing affordability. &nbsp; “While targeted demand-side policies to support aspiring homebuyers are welcome, a supply crunch is coming and this needs be the focus for whoever wins government next Saturday.”<h2>‘Affordable housing for long-term, not election’</h2> &nbsp; The Australian Institute of Architects national president Tony Giannone has called on the major parties to appoint a federal Minister for Housing and create a 30-year National Housing Strategy.&nbsp; &nbsp; “Adequate housing should be a right in a country as lucky as Australia, but it’s not,” he said.&nbsp;“We need a national, centralised system to monitor housing supply and establish targets for social and affordable housing for those who need it.“Social housing and affordable housing initiatives need to be delivered for the long term, not for the next election.”BuyersBuyers chief executive Doron Peleg said there was a “chronic undersupply of family-appropriate housing” near to employment hubs.&nbsp; &nbsp; “The supply side of the market remains a major challenge with a lack of coordinated approach between federal, state and local governments,” Peleg said. &nbsp; “This systematic failure is highly likely to continue in the near future. As long as that’s the situation, property prices in land-locked suburbs where demand is concentrated are likely to increase at a rate that is above inflation.”

Australia does not have a housing affordability crisis, it has a housing equality crisis and little is being done by either major party to address the shortfall in supply, according to industry heavyweights...

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Brisbane’s bayside could be going up in the world with plans for $130-million highrise shop-top housing in the heart of the seaside suburb of Wynnum.&nbsp;Brisbane-based developer Hambros has lodged plans for a 21-storey apartment tower on the vacant lot neighbouring the Wynnum Central Shopping Centre, after winning approval for an small extension to the retail centre late last year.&nbsp;The development comprises a 6-storey retail and commercial podium, with a 275-apartment tower above, backing on to Wynnum Central Park.Hambros has reportedly spent about $14 million on revamping the Wynnum Central Shopping Centre on Bay Terrace, as part of a $74-million plan to rejuvenate Wynnum, including cinemas.According to planning documents lodged with the Brisbane City Council, the tower will be made up of 54 one-bedroom apartments, 148 two-bedroom apartments, and 67 three-bedroom apartments, with six penthouses, which will have private rooftop space and their own pools.&nbsp;The building height is well in excess of the allowable five to eight storeys in the Wynnum Manly Neighbourhood Plan, but town planners Gateway Survey and Planning argued the plan was “outdated” and should be overhauled.&nbsp;The six-storey podium would contain two levels of parking, a retail tenancy at ground level, a floor of retail, with two storeys of commercial space for office, healthcare and events space on levels 5 and 6.&nbsp;<div id="6KiGfn2rUhPMxw3YwNVqWS"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1gZuosM0LzYbOUEEItHRaL/2f041a165a6b356e9fbf70f90f390084/WynnumPlaza_MID.jpg" alt="Shayher Group won approval for its redevelopment of Wynnum Plaza, which included 184 apartments across eight residential buildings. " data-mce-src="//images.ctfassets.net/8pr762qjocl3/1gZuosM0LzYbOUEEItHRaL/2f041a165a6b356e9fbf70f90f390084/WynnumPlaza_MID.jpg"></picture><div>▲ Shayher Group won approval for its redevelopment of Wynnum Plaza last year, which included 184 apartments across eight residential buildings. </div></div> In a statement to the council Hambros director Justin Ham said the Wynnum CBD had been left behind “with no development occurring in the last 20 years”.“Our project is designed to put Wynnum CBD on the ‘open for business’ map,” Ham said.“This landmark development, with a construction cost estimated at $130 million will have a huge financial and community positive impact on the Wynnum CBD and surrounding areas.&nbsp;“It’s a once-in-a-lifestime opportunity to create a beautiful space overlooking the best bay in the world.”Ham said the development would bring much-needed <a data-mce-href="https://www.theurbandeveloper.com/articles/bayside-boutique-development-" href="https://www.theurbandeveloper.com/articles/bayside-boutique-development-" target="_blank" rel="noopener">foot traffic to the heart of the Wynnum CBD</a> and help bolster businesses and landowners he said were struggling to remain profitable.&nbsp;<a data-mce-href="https://www.theurbandeveloper.com/articles/five-storey-apartment-bulimba-barracks" href="https://www.theurbandeveloper.com/articles/five-storey-apartment-bulimba-barracks" target="_blank" rel="noopener">Taiwanese developer Shayher Group</a> won approval for a masterplanned retail precinct at Wynnum Plaza with plans for 184 apartments across eight residential buildings as well as boutique cinemas and increased retail space, reportedly worth more than $100 million.&nbsp;Work on the Wynnum Plaza redevelopment was due to commence later this year with a completion date hedged for 2024.&nbsp;

Brisbane’s bayside could be going up in the world with plans for $130-million highrise shop-top housing in the heart of the seaside suburb of Wynnum. 

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Australia’s expansive university campuses are emerging as a new alternative asset class for developers looking for joint venture opportunities, but it’s not a quick win.&nbsp;There’s no denying that the pandemic dealt a blow to Australian universities bottom lines as revenue from international students fell off a cliff.But land-rich tertiary institutions are starting to think outside the box when it comes to finding new revenue streams according to JLL head of strategic consulting David Brown, who is speaking at <a data-mce-href="https://www.eventbrite.com.au/e/developing-and-investing-in-the-education-sector-vsummit-tickets-327941149807?aff=tudwebsite0content0news" href="https://www.eventbrite.com.au/e/developing-and-investing-in-the-education-sector-vsummit-tickets-327941149807?aff=tudwebsite0content0news" target="_blank">The Urban Developer’s vSummit on Developing and Investing in the Education Sector</a> on May 19.&nbsp;Brown has brokered deals between institutional investors and universities including La Trobe and the Western Sydney University to help unlock their capital.&nbsp;La Trobe University announced this month a public-private partnership with Plenary for a $5-billion University City of the Future Plan for its 235-hectare Bundoora campus. “I think what I’m seeing is that universities are now saying it’s not just ‘sell the farm’, they’re now looking at ways to grow new annuity streams through development,” Brown said.“It seems to be patient capital that has an advantage, investors who take a softly-softly approach are more likely to be successful in this sector.&nbsp;“They’ve got to play the long game because universities are quite conservative and there’s a lot of governance issues in play.”<div id="4PCIia67ifpfpsoB8oXQg7"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1QjNm0RmMmK4ffyx7LhJJH/8bb5189d705d52a7582b3ba80f455642/UniDevelopmentMID.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/1QjNm0RmMmK4ffyx7LhJJH/8bb5189d705d52a7582b3ba80f455642/UniDevelopmentMID.jpg"></picture><div>▲ La Trobe University has entered a public-private partnership with Plenary for a $5-billion development of a University City of the Future master plan. </div></div> Public-private partnerships are becoming more commonplace in the market but Brown warned it could take two years to cut a deal before shovels get anywhere near breaking ground.&nbsp;He said development partners would need to ensure cultural fit was part of their strategy in a bid to educate the education sector on the opportunities on offer.&nbsp;“Education is one of the top three exports in the country, we need them thriving,” he said.&nbsp;“If we share the lessons learned along the way [in brokering these public-private partnerships] more universities will be able to take this approach in the future.“There’s so much capital locked in university campuses, and it’s so under-utilised.”_________________________________________________________________The Urban Developer is hosting the Developing and Investing in the Education Sector vSummit virtually on Thursday 19 May. <a data-mce-href="https://www.eventbrite.com.au/e/developing-and-investing-in-the-education-sector-vsummit-tickets-327941149807?aff=tudwebsite0content0news" href="https://www.eventbrite.com.au/e/developing-and-investing-in-the-education-sector-vsummit-tickets-327941149807?aff=tudwebsite0content0news" target="_blank">Click here for more details</a>.

Australia’s expansive university campuses are emerging as a new alternative asset class for developers looking for joint venture opportunities, but it’s not a quick win...

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Plans for a trackside hotel and infinity pool have been scrapped following a stoush between a developer and the Gold Coast City Council that ended when the Gold Coast Turf Club bought the contentious site for $6.6 million.&nbsp;Corcoris Group, headed up by Melbourne businessman Nicholas Corcoris, lodged ambitious plans for a trackside hotel complete with an infinity pool overlooking the home straight at Bundall’s Gold Coast Turf Club in December 2019.The Gold Coast City Council rejected the plans in May of 2021, at which point an appeal was lodged in Brisbane’s Planning and Environment Court. But the appeal was short-lived and rescinded in December last year.Corcoris bought the 12,230sq m site on Racecourse Drive at Bundall in 2015 for $3.2 million from Bundall Racecourse Pty Ltd, which was deregistered in 2019. Prior to that it was owned by the Australian Turf Club Pty Ltd, which was reportedly connected to developer Mark Howard.&nbsp;The Gold Coast Turf Club has now bought back the site, wedged between the track, turf club, and the Benowa Effluent Facility in a $6.6-million deal that settled in April 2022.&nbsp;The Urban Developer understands the deal had been conditional on the Turf Club's due diligence and feasibility studies on the site.&nbsp;The C&amp;K Architecture-designed project was for three arc-shaped buildings atop a podium, and was planned to offer short-term hotel accommodation, as well as permanent residences, retail and commercial tenancies and an event space.&nbsp;<div id="52oi0bniXreEt77Fi0FYhu"><picture><img src="//images.ctfassets.net/8pr762qjocl3/38oAMX1KxZ8ZLSriqNgZbi/69af1881ac7022aaaa420d18a81256ed/TurfClubLandGrabMID.jpg" alt="Corcoris Group has sold the trackside site after its plans for a hotel and residences was blocked by the Gold Coast City Council. " data-mce-src="//images.ctfassets.net/8pr762qjocl3/38oAMX1KxZ8ZLSriqNgZbi/69af1881ac7022aaaa420d18a81256ed/TurfClubLandGrabMID.jpg"></picture><div>▲ Corcoris Group has sold the trackside site after its plans for a hotel and residences was blocked by the Gold Coast City Council. </div></div> Gold Coast City Council cited a number of issues in its rejection of the development application including an inappropriate land use for land zoned for active recreational uses, the height and intensity of the development, and its close proximity to the Benowa waste treatment plant.&nbsp;But Corcoris Group argued that the development would be complementary to the turf club’s offerings, and provided diversity of housing choices as laid out in the planning scheme. The appeal also argued that the effluent treatment plant could operate in a way that did not hamstring the development of the neighbouring site.&nbsp;It was the latest in a string of developments proposed for the site, once owned by the Council, which have failed to get out of the ground.&nbsp;Plans for a four-storey mixed use development comprising a 64-suite motel, restaurant and conference facilities were approved for the site, which the Gold Coast Turf Club sought, unsuccessfully, to block through the Planning and Environment Court.The land will now be absorbed in Gold Coast Turf Club’s landholdings and may become the site office for the $38-million revamp of the home of the Magic Millions.&nbsp;The Queensland State Government will pour in $33 million for the redevelopment of the site, alongside the Turf Club’s $5 million commitment to the project, with work due to begin this month.The program of work proposed on site includes the refurbishment of existing racing surfaces, lights and facilities to enable night racing, an equine tunnel to the infield, and a &nbsp;new all-weather synthetic track.&nbsp;Australia's turf clubs continue to <a data-mce-href="https://www.theurbandeveloper.com/articles/developer-files-first-stage-for-3-8bn-wa-masterplan" href="https://www.theurbandeveloper.com/articles/developer-files-first-stage-for-3-8bn-wa-masterplan" target="_blank" rel="noopener">redevelop their racetracks with in-field property plays</a>, however, there are no plans for the Bundall racecourse yet.&nbsp;The Gold Coast Turf Club is aiming for the project to be completed in time for the Magic Millions in 2024.&nbsp;

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More women are picking up the tools for a career in construction and it is having a positive impact on work culture across the sector, according to an industry report.&nbsp;Female apprentice numbers increased 90 per cent in the 12 months to September 2021, which is improving work-life for women in construction, the National Association of Women in Construction said.&nbsp;More than 80 per cent of respondents in the State of the Industry survey agreed that the role of women within the industry was changing for the better.&nbsp;But this was in stark contrast to 75 per cent of respondents reporting they had experienced gender-based adversity within their construction career.&nbsp;NAWIC national chair Christina Yiakkoupis said about half of survey respondents said they had experienced unwanted attention and felt it was <a data-mce-href="https://www.theurbandeveloper.com/articles/construction-industry-pay-gap-widens-to-26pc" href="https://www.theurbandeveloper.com/articles/construction-industry-pay-gap-widens-to-26pc" target="_blank" rel="noopener">not an equal playing field</a>.&nbsp;“The number of women joining the construction industry is on the rise and the majority of our NAWIC members are seeing changes that show we are heading in the right direction,” Yiakkoupis said.“Gathering data and comments from our growing membership gives NAWIC an even louder voice and an opportunity to draw attention to aspects of the industry that are lagging behind as well as changes that need to be made.”New South Wales Minister for Skills and Training Alister Henskens said the Built for Women program had provided almost 5000 fee-free training places for women in trade-related work.&nbsp;“We want to make it easier for women to access the skills they need for a first job, a new job, or a better job,” Henskens said.&nbsp;“[This] is providing great opportunities for women to pick up the tools and enter a dynamic and rewarding industries.”<div id="2hbgEzLEvXlySLZznjfoWe"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4d9JfwobW1kcgix13WgOeV/3119f072fe8431a3fa7f7da26ec82133/construction_women.jpeg" alt="It is clear increasing the number of women in construction will relieve the labour shortage." data-mce-src="//images.ctfassets.net/8pr762qjocl3/4d9JfwobW1kcgix13WgOeV/3119f072fe8431a3fa7f7da26ec82133/construction_women.jpeg"></picture><div>▲ It is clear increasing the number of women in construction will relieve the labour shortage. </div></div>Chief Executive Women president Sam Mostyn said their research has found <a data-mce-href="https://www.theurbandeveloper.com/articles/women-ceo-property" href="https://www.theurbandeveloper.com/articles/women-ceo-property" target="_blank" rel="noopener">increasing women’s participation in the paid workforce would address Australia’s current skills shortage</a> and have long-lasting impact on productivity in Australia.&nbsp;Job vacancies hit a record 423,500 in February and Mostyn said women were “Australia’s most untapped resource”.“We must shift from piecemeal policies that deal with individual pressures and change the way we think about our economy and investment in social infrastructure,” Mostyn said.“We must focus on policy that will enable women to participate in decent, paid work and to help solve Australia’s skills shortage.“To help support women’s participation in our economy, Chief Executive Women calls for investment in well-paid jobs in care sectors, affordable and accessible early education and care, expansion of paid parental leave for all parents and to make workplaces safe from sexual harassment.”Impact Economics and Policy lead economist Dr Angela Jackson said Australia’s failure to remain in-step with international peers in terms of women’s economic participation is hurting the economy.&nbsp;“Reforms to lift female participation are urgently needed to lift our game to meet current and future skill gaps,” Jackson said.

More women are picking up the tools for a career in construction and it is having a positive impact on work culture across the sector, according to an industry report...

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An ambitious plan to transform former farmland into an agri-tourism <a data-mce-href="https://www.theurbandeveloper.com/articles/top-qld-spots-for-interstate-buyers" href="https://www.theurbandeveloper.com/articles/top-qld-spots-for-interstate-buyers" target="_blank" rel="noopener">destination on the Sunshine Coast</a> has won approval.&nbsp;The Barns Lane Farm will put the 6.8ha former farm at Coolum on the map with plans for a paddock-to-plate experience, a 2000sq m produce hall, brewery, animal farms, tours, an adventure play area and a performance space.&nbsp;It’s the brain-child of co-founders Jason Grant, Helent Grant and Jonathan Leishman, with construction on the first stage due to commence soon.The opening is slated for late next year, with future stages to include a boutique hotel and a 150-seat function venue, to cater to the rural wedding market.&nbsp;<a data-mce-href="https://www.theurbandeveloper.com/articles/southeast-queensland-developers-foodie-empire-expands" href="https://www.theurbandeveloper.com/articles/southeast-queensland-developers-foodie-empire-expands" target="_blank" rel="noopener">Developer Jonathan Leishman said it had been a passion project</a> for the trio. He said Barns Lane would be an incubator for innovation and connect with charities on the coast.“We’re partnering with Josephmark, they’re going to be running an agtech start up incubator,” Leishman said.&nbsp;“They’re going to use Barns Lane kind of like a Google campus, where they can get that interaction with the industry and go to market.“We’ve also got Compass Farms on board—they have six farms on the Sunshine Coast that provide learning opportunities for people with disabilities. It teaches them life skills through doing something meaningful … we’re excited to have them onsite, they will be maintaining one of the plots, growing botanicals for the distillery.”<div id="36M7HQ8tIbSEN2uqdlffW4"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3nYIYrAT95XiEJ3LMH28KE/418ce5782aade35b372e622df05cd480/BarnsLaneMID.jpg" alt="Barns Lane Farm has been approved for Coolum, with a second stage to include a boutique hotel and event space. " data-mce-src="//images.ctfassets.net/8pr762qjocl3/3nYIYrAT95XiEJ3LMH28KE/418ce5782aade35b372e622df05cd480/BarnsLaneMID.jpg"></picture><div>▲ Barns Lane Farm has been approved for Coolum, with a second stage to include a boutique hotel and event space. </div></div>Leishman said they would also partner with Mini Farm Project, which grows produce and donates it to charities to feed people experiencing food insecurity.The trio’s passion for community, wedded with its experience in development and business nous, would be put to good use as the long-term operators of the site, which was formerly slated for a Bunnings.&nbsp;“We’re very passionate about community, food and healthy living, and we’re looking forward to getting cracking on the site,” Leishman said.&nbsp;“Once we’re up and running there’s going to be between 50 and 60 businesses on site including a coffee roaster and a bakery, and we’re in advanced talks with a restaurant operator and events operator.”The project is expected to create 170 full-time equivalent jobs across multiple industries and connect the community to its local food producers.&nbsp;Visit Sunshine Coast chief executive Matt Stoeckel said there had been “huge demand for agri-tourism experiences” and <a data-mce-href="https://www.theurbandeveloper.com/articles/sunshine-coast-property-market-cbre-hot" href="https://www.theurbandeveloper.com/articles/sunshine-coast-property-market-cbre-hot" target="_blank" rel="noopener">the project would lead the food producer market on the Sunshine Coast</a>.&nbsp;

An ambitious plan to transform former farmland into an agri-tourism destination on the Sunshine Coast has won approval...