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An $18.3-million affordable build-to-rent project has been completed in Melbourne’s north-east.The property, 260 Bell Street, was designed by Plus Architecture and built by Manresa Constructions for not-for-profit housing provider Unison Housing.The six-storey building comprises 42 apartments and is 9.5km from Melbourne’s CBD.The apartment designs incorporate practical kitchens, bedrooms with built-in robes and temperature control, alongside balconies and secure underground parking.Comprising mostly two-bedroom apartments, the development “will provide safe and secure homes for families who are on the highest priority category of the Victorian Housing Register,” a spokesperson said.Homes Victoria, in partnership with Unison Housing, funded the project as part of the $5.3-billion Big Housing Build, which aims to provide more social and affordable housing to people in need across metropolitan and regional Victoria.Unison will develop, manage and maintain the new building, with Unison’s Place Management team working with local services to ensure that residents are linked with support for a sustainable tenancy.<div id="5EvcjePXbPerGsEiEHCZPP"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7sKiX4H64TQhENJvx2rv3l/b92586e5818ccbcac495795c2bf9ff28/1.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/7sKiX4H64TQhENJvx2rv3l/b92586e5818ccbcac495795c2bf9ff28/1.jpg"></picture><div>▲ The project was funded as part of the $5.3-billion Big Housing Build. </div></div>Located at the northern end of Bell Street at Heidelberg Heights, the development is in the heart of the Victorian government’s regeneration plans for the area, including completed upgrades to local infrastructure.Plus Architecture principal Jessica Liew said 260 Bell Street had been designed to reflect and complement the surrounding natural landscape.“Through incorporating large setbacks to the north and employing staggered terracing, the building’s curved sculptural form establishes an original and refined design language that creates a harmonious relationship with the neighbouring structures,” she said.“The elegant and organic shapes follow the natural flow of the land and the building nestles into the rich topography of the raised site. Curved lines, expressed edges and wide balconies contribute to its inviting atmosphere.”Unison Housing chief executive James King said increasing the provision of safe and affordable social housing such as the Bell Street property provided more families with housing options.“For 42 families, this development represents an opportunity for a new start to life. It is a place where people can be comfortable, live with dignity, stay well, raise their family, make memories and connect and support each other within a community,” he said.<div id="5ginCZRKQR1u4Xg5ipgl3V"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5zwRZsjwHq7mSDhKdOkMta/ca91cc046e9b16fcbc2c880c6f82539f/2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/5zwRZsjwHq7mSDhKdOkMta/ca91cc046e9b16fcbc2c880c6f82539f/2.jpg"></picture><div>▲ The Bell Street project is among a raft of affordable housing solutions rising in the city. </div></div>Affordable build-to-rent is on the rise and certain to be boosted by the <a data-mce-href="https://www.theurbandeveloper.com/articles/victoria-housing-statement-supply-planning-home-crisis" href="https://www.theurbandeveloper.com/articles/victoria-housing-statement-supply-planning-home-crisis" target="_blank" rel="noopener">Victorian government roadmap</a> to end the housing crisis announced this week.A <a data-mce-href="https://www.theurbandeveloper.com/articles/affordable-build-to-rent-kensington-melbourne-assemble-construction-started" href="https://www.theurbandeveloper.com/articles/affordable-build-to-rent-kensington-melbourne-assemble-construction-started" target="_blank" rel="noopener">build-to-rent project at Kensington</a> being developed by Assemble and Super Housing Partnerships is one of five projects in Melbourne to increase affordable housing in the city now under way.It is the first project in specialist affordable housing fund manager Super Housing Partnerships’ pipeline through the High Impact Fund I, which is worth $750 million.&nbsp;The Kensington project will comprise 362 mixed-tenure homes including affordable, social, market-rate and specialist disability housing, and the site at Kensington, 4km north-west of the CBD, is near public transport and major hospitals.<div><div data-zephrid="regular-article-main"><div id="normal-article">Other projects in the pipeline include a four-building, 446-apartment project at 30 St Georges Road, 32-36 Oakover Road and 17-49 Showers Street at Preston with office tenancies, a supermarket and retail outlets.&nbsp;There is also a nine-storey building with 180 apartments at 512A Sydney Road at Coburg that will be integrated with the existing Kevin Heinz Grow community garden and heritage buildings.&nbsp;A five-building, 332-apartment project at 209-211 Carinish Road, Clayton, and a 325-apartment project at 240-246 East Boundary Road, East Bentleigh, are the other two projects in the pipeline.&nbsp;</div></div></div>

An $18.3-million affordable build-to-rent has been completed in Melbourne’s north-east.

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Build-to-rent and student accommodation asset owners could create step-change in apartment sustainability but it all comes down to data.It’s something that Hip V. Hype founder Liam Wallis is well across. Wallis and his family have been living by the numbers for the past 12 months as part of a live-in experiment.&nbsp;They were the guinea pigs in the year-long post-occupancy experiment dissecting the developer’s award-winning Ferrars &amp; York residential development’s building performance against sustainability goals.&nbsp;The 22 apartments in the all-electric building at South Melbourne were set up as embodied carbon neutral and operational carbon neutral, powered by 100 per cent green power.&nbsp;<h2>The numbers game</h2> The data reveals apartments in the six-storey residential building achieved an average 8.6 NatHERS rating (out of 10), while the highest rated apartment in the building achieved a 9.3 NatHERS rating.&nbsp;The self-funded 12-month research project has been driven by Hip V. Hype’s Better Buildings team, which specialises in green buildings and engineering.&nbsp;<div id="6f1stMBzRm8XJiZILcTDln"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5CX0n0TLOBlRyVvgGI8yc9/824d85275c203515af1bcd399c415f6a/Hip_V_Hype_MID2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/5CX0n0TLOBlRyVvgGI8yc9/824d85275c203515af1bcd399c415f6a/Hip_V_Hype_MID2.jpg"></picture><div>▲ Achieving good air quality was no easy feat for a development between a train line and a major road through South Melbourne. Image: Tess Kelly </div></div>The development was fitted with technology to monitor building performance as well as indoor air quality, carbon dioxide, humidity, temperature and volatile organic compounds, which are all key measures of Indoor Environment Quality (IEQ).“The industry in Australia typically has a poor understanding of how apartments perform when complete,” Wallis says.&nbsp;“Rating tools are not yet calibrated against performance in any meaningful way. It is in our DNA at Hip V. Hype to seek to improve design and performance outcomes with each successive project we undertake and to share learnings through our advisory and advocacy work to help raise the bar more broadly across industry.”Hip V. Hype’s head of better buildings, David Mahony, says the Ferrars &amp; York apartments had cut annual heating and cooling costs by 30 per cent, while reducing cooking-power costs 32 per cent, and water heating was down 21 per cent on average.&nbsp;<h2>Broader applications for BtR and PBSA</h2> Mahony says this is a cost saving of about $295 an apartment a year, which may seem like small change, but the ripple effect for high-density, long-hold assets is significant.For a 2500 apartment build-to-rent asset it could represent a $7-million saving over a 10-year period, he explains.&nbsp;<div id="6RJPeu6qhvrbEWJzN8lWTh"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7cO3EgM1ryymLeTBkHcVaK/84de04a5f55c99bb7ca374ad28b3838a/hesta_super_housing_kensington_btr_edm_hero.jpg" alt="HESTA and Super Housing Partnerships have now joined Assemble and Housing Choices Australia as work gets underway with a build-to-rent project at Kensington in Melbourne." data-mce-src="//images.ctfassets.net/8pr762qjocl3/7cO3EgM1ryymLeTBkHcVaK/84de04a5f55c99bb7ca374ad28b3838a/hesta_super_housing_kensington_btr_edm_hero.jpg"></picture><div>▲ HESTA and Super Housing Partnerships have now joined Assemble and Housing Choices Australia to develop high-sustainability build-to-rent apartments at Kensington. </div></div>During the coldest fortnight of the year a three-bedroom apartment at Ferrars &amp; York maintained a temperature of 19C to 25C with very little reliance on additional heating, at just 32c a day.&nbsp;Mahony says the building’s high performance was down to the selection of building fabric and energy recovery ventilation (ERV) system.&nbsp;“Occupants are likely to be healthier and happier in buildings that have higher performing building envelopes and systems, such as energy-recovery ventilation that promote healthy internal environments like consistent temperatures, cleaner air and significantly better acoustic performance,” he says.&nbsp;Hip V. Hype founder Liam Wallis agrees.&nbsp;“Assets with better indoor environment quality can reasonably expect to see lower churn, lower vacancy and higher rental rates over time,” he says.&nbsp;<h2>The bottom line</h2> Building efficiency is key to operational expenditure management for long-hold assets such as build-to-rent and purpose built student accommodation.Wallis says there is “immense potential” for the research to feed into all housing typologies but particularly build-to-rent, where performance is closely linked to asset value.&nbsp;“For build-to-rent asset owners in particular, a building built to the standard of Ferrars &amp; York would likely result in a lower operational cost base for energy, lower vacancy and higher rates in what promises to be a competitive market for tenants with flexibility,” he says.&nbsp;“Other upsides, such as lower maintenance and system upgrade costs due to systems working less hard, are also worthy of consideration.“For those seeking to develop, own and operate an asset for more than 10 years, an integrated design-optimised approach to sustainability and greenhouse gas emission reduction is likely to result in a positive return on investment.”<div id="4yWqsMYiHorO3MB4A8gc4b"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1tFF11T8wxHtzfzbvGMSJm/a010c151fde15b343c7361627d7f29ea/Hip_v_hype_data_MID.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/1tFF11T8wxHtzfzbvGMSJm/a010c151fde15b343c7361627d7f29ea/Hip_v_hype_data_MID.jpg"></picture><div>▲ Hip V. Hype’s Liam Wallis acknowledges the initial outlay for strong sustainable outcomes is significant. Image: Tess Kelly </div></div>Wallis acknowledges the upfront costs of an optimised approach to sustainable building design but says the proof is in the pudding, so to speak.&nbsp;He says capital expenditure may be higher but this is counterweighted with reduced operational maintenance and replacement costs and the “asset value can be higher as a result of outgoing cashflows being lower and incoming cashflows being higher in aggregate”.Hip V. Hype’s advisory services provide sustainable design advice to some of Melbourne’s biggest developers.&nbsp;<h2>Only 5pc exceed minimum standards</h2> Australian Housing and Urban Research Institute (AHURI) data shows that demand for sustainable apartments is not being met.While Australians are increasingly moving into apartment living, a spatial analysis of sustainable apartment development and major retrofit projects in metropolitan and regional NSW and Victoria shows less than 5 per cent of building projects are exceeding minimum standards for sustainability.&nbsp;And the ones that are achieving strong sustainability results are primarily concentrated in premium suburbs.&nbsp;The report says there is a disconnect in the speculative build-to-sell developments between what consumers want, and what is built.&nbsp;<div id="7oddHRqkbxfc5rpEzkgYlj"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5pghZX5w5cTjfhhBWYjNZ8/19ed3eba2f3d7ca3e0578c612d7bb7a9/Gamuda-Crema_Mid_2__Long_.jpg" alt="An artist's impression of the tower. Gamuda’s green credentials for the Fishermans Bend development are deep below the ground." data-mce-src="//images.ctfassets.net/8pr762qjocl3/5pghZX5w5cTjfhhBWYjNZ8/19ed3eba2f3d7ca3e0578c612d7bb7a9/Gamuda-Crema_Mid_2__Long_.jpg"></picture><div>▲ Gamuda Land has embedded strong green credentials in the design of its Canopy build-to-sell development at Fishermans Bend. </div></div>While it may be a bottom-line decision for developers in a challenged feasibility environment, the build-to-rent sector has an opportunity to drive change.&nbsp;“Build-to-sell are often designed to only meet minimum standards, and the sector’s reliance on investor demand, which is especially vulnerable to economic cycles, works against developers delivering innovative, sustainable apartments,” the report says.&nbsp;But build-to-rent, community housing providers and student accommodation are less vulnerable to these market forces, explains UNSW City Futures Research Centre’s Dr Hazel Easthope.&nbsp;“During our research, a planning consultant suggested build-to-rent could become a major driver for sustainable apartments across all development models, as it could boost the scale of sustainable development and therefore could ‘push’ the whole apartment sector forward,” Easthope says. &nbsp;<hr> You are currently experiencing&nbsp;The Urban Developer&nbsp;Plus (TUD+), our premium membership for property professionals.&nbsp;<a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans">Click here to learn more.</a><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture><div> </div></div>

A year-long experiment by Hip V. Hype’s Liam Wallis and his family has serious implications for property’s hottest sector: build-to-rent…

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It’s no secret that the industrial sector has been booming but problems with supply and planning constraints are stunting the growth of Covid’s real estate “golden child”.&nbsp;Ethos Urban planning director and national industrial sector specialist Angus Halligan, who will present at The Urban Developer <a data-mce-href="https://web.cvent.com/event/4bba1b94-b195-48e2-8a51-12b51636639b/summary?RefId=General%20Admission%20%7C%20Editorial&amp;rt=X_aufiJPxEeHOTaMYZfoiQ" href="https://web.cvent.com/event/4bba1b94-b195-48e2-8a51-12b51636639b/summary?RefId=General%20Admission%20%7C%20Editorial&amp;rt=X_aufiJPxEeHOTaMYZfoiQ" target="_blank" rel="noopener">Industrial Property vSummit on September 28</a>, said that industrial land supply issues were being compounded by state-specific complexities.&nbsp;“Sydney has unlocked a lot of industrial land such as that at Aerotropolis and Mamre Road Precinct (main images),” he.&nbsp;“But the headaches are in having to develop infrastructure in those areas which means that while there is land identified for release, we can’t unlock it and applications are not moving through fast enough.”&nbsp;Correctly zoned land might be available, he said, but that was only half the story when answering the supply question.&nbsp;“There is a burden on being the first developer in these newer precincts due to the associated costs with road and water infrastructure. You have a laundry list of development application inputs.&nbsp;“Oftentimes in Sydney you’re effectively developing State Significant Developments, so the requirements on the applicant to build a warehouse in Western Sydney are not much different from if they were building a tower in Sydney CBD.“You’re put through the ringer in terms of how to document it.“The answer to that which is coming through is working with adjoining land owners. This has been critical to unlocking these sites; collectively trying to understand and work together to prepare the necessary documentation.“Collectively you have greater power to work with Transport NSW and other stakeholders, so those landowner groups are becoming essential.”&nbsp;<div id="6AJIYWLGRSGpa1OEyXATJc"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2YtptUcbTVWllhHa1Ukx9P/33aa3019d72dc3adc6af4a7e629215f4/Angus_Halligan_Ethos_Urban_mid.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/2YtptUcbTVWllhHa1Ukx9P/33aa3019d72dc3adc6af4a7e629215f4/Angus_Halligan_Ethos_Urban_mid.jpg"></picture><div>▲ Ethos Urban’s Angus Halligan will present at The Urban Developer Industrial Property vSummit on September 28. </div></div>Industrial sector developers are facing these planning issues in NSW in particular, while in Victoria a lack of earmarked land is causing problems.“In Victoria, there is a lack of clear guidance from the state for new tracts of industrial supply. The Dandenong South corridor is largely taken up and in the absence of corridors as identified by the state government, the market is turning to infill,” Halligan said.&nbsp;“As a result, while it is a few years behind Sydney when it comes to vertical warehousing, that product is starting to come into the market.”&nbsp;With a handful of vertical warehousing projects on the go in Sydney and one in Victoria, Ethos Urban and other planners and developers are facing increasing challenges with design and planning.&nbsp;“Everyone is interested in the challenges involved, as they certainly are taking on a new level of complexity, but the vertical model takes a step up in architectural offering compared to previous warehouses,” he said.“On the outskirts of the city you could construct a warehouse quickly, but with vertical offerings comes this need for visual impact assessment.“We’re seeing a need for early consideration of facade treatments and what is this going to look like, as lots of developments creep into areas that have mixed use rather than just outer periphery locations.”&nbsp;These complexities and the length of time it takes to get a development application has led developers to look to other markets.“In absence of an immediate answer to Sydney’s planning deadlock, our clients are looking at this issue and some are looking further to South-East Queensland and Victorian markets as being an answer to that problem.&nbsp;“Great outcomes can be achieved but they are slow to manifest.” <hr> The Urban Developer&nbsp;Industrial Development vSummit will take place on Thursday, September 28.&nbsp;<a data-mce-href="https://web.cvent.com/event/4bba1b94-b195-48e2-8a51-12b51636639b/summary?RefId=General%20Admission%20%7C%20Editorial&amp;rt=X_aufiJPxEeHOTaMYZfoiQ" href="https://web.cvent.com/event/4bba1b94-b195-48e2-8a51-12b51636639b/summary?RefId=General%20Admission%20%7C%20Editorial&amp;rt=X_aufiJPxEeHOTaMYZfoiQ" target="_blank" rel="noopener">Click here to register and learn more.&nbsp;</a>

The sector’s evolving needs are creating challenges, says Ethos Urban’s Angus Halligan, ahead of The Urban Developer’s Industrial vSummit…

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Sitting on internet servers somewhere are about 1400 planning permit applications for multi-unit housing that councils have not been able to assess for more than six months.Around 550 of those applications have been waiting for more than a year and among them are 78 projects costing more than $10 million each.&nbsp;That equates to 4900 new homes in Victoria yet to be considered let alone delivered.It’s the reason Victorian premier Daniel Andrews says the state needs new housing policies and planning systems.&nbsp;“Building, buying, renovating, renting—it just shouldn’t be this hard,” Andrews said.“We need to build more homes, with the best design standards, where people want to live.&nbsp;“And that means going up and out—not just out.”<div id="7zkUydgbcka7UqiVVlCGkM"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3j3FSFZB8XHbnZ6dkA1GSM/38124fd7a90a3dd6ccd0c6bd98f38db6/Mid_article_resizes__36_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3j3FSFZB8XHbnZ6dkA1GSM/38124fd7a90a3dd6ccd0c6bd98f38db6/Mid_article_resizes__36_.jpg"></picture><div>▲ Victorian premier Daniel Andrews has announced new planning reforms. </div></div><a data-mce-href="https://www.theurbandeveloper.com/articles/victoria-housing-statement-supply-planning-home-crisis" href="https://www.theurbandeveloper.com/articles/victoria-housing-statement-supply-planning-home-crisis" target="_blank" rel="noopener">With a large list of changes announced earlier this week</a>, the Victorian government has now revealed exactly what it means by planning system reform and has used the backlog of applications at local government level as proof it is on the right track.&nbsp;Across the last year, according to the Victorian government, the number of approved homes in the state fell by 26.1 per cent.&nbsp;Much of the data is damning—for instance, Yarra council progressed just 38 per cent of applications within the required timeframe. That council’s average processing time is 188 days.&nbsp;The Victorian Civil and Administrative Tribunal regularly handles applications that fall under the Stonnington City Council rmeit, a council that rejects almost one in five applications, citing ‘neighbourhood character’ as a key concern.&nbsp;Andrews has now promised a dedicated team to work with developers, councils and referral agencies to identify and resolve issues so that matters don’t need to go to VCAT.&nbsp;That team will be in place by November and based within the Department of Transport and Planning. It will review multi-unit projects costing more than $10 million.&nbsp;Planning minister Sonya Kilkenny will then be able to call in projects as they are reviewed.&nbsp;“Victorians deserve a planning system that works with them, not against them,” Kilkenny said.&nbsp;“It should be a clear, transparent and accountable system because Victorians deserve to know who is planning our city and state.” <div id="6ENrt1jalZ7B2p0OgvoNLq"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3rsX8P8jWncQ3bMeLG215n/4c02aa7ccc8164e8accd8447ac58780c/city_of_stonnington_planning_overlay_edm_hero.jpg" alt="The City of Stonnington has received approval for an amendment to its planning scheme that introduces a development contributions overlay." data-mce-src="//images.ctfassets.net/8pr762qjocl3/3rsX8P8jWncQ3bMeLG215n/4c02aa7ccc8164e8accd8447ac58780c/city_of_stonnington_planning_overlay_edm_hero.jpg"></picture><div>▲ The City of Stonnington was mentioned by the state government as having refused a myriad of applications due to neighbourhood character concerns. </div></div>A special government gazette was released right after the announcement that Amendment VC242 had been approved.&nbsp;The amendment made changes to the Victoria Planning Provisions and all planning schemes by adding two new pathways for significant residential and office development to be submitted, assessed and approved.&nbsp;It means expanding the Development Facilitation Program so that Kilkenny as minister becomes the decision-maker for significant residential developments that include affordable housing.These will be medium to high-density developments that cost at least $50 million in Melbourne or $15 million in regional Victoria with at least 10 per cent set aside for affordable housing.&nbsp;Build-to-rent projects will be included under this.Kilkenny will still be able to approve projects that don’t meet this criteria provided the affordable housing criterion is met or if it demonstrates best practice design and environmental standards.&nbsp;Around 13,200 homes are expected to be delivered that would otherwise be delayed without these changes, the government believes.&nbsp;It is also expected that application timeframes for these projects will be cut from more than a year to just four months.&nbsp;There will be new Deemed to Comply residential standards for different types of homes with 14 of the current standards codified, such as north-facing windows, overshadowing open space and street setback.Another 39 standards will be reviewed and finalised by September, 2024. All Deemed to Comply matters will not be heard by VCAT.It will allow planners to approve permits faster for houses with assessment only needed for what doesn’t comply.<div id="7InUBELLLX45OWHHp7FUhd"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5hG6qJqwI9TiqwiAztKWnX/05ab84d67a7500f3c3c7ed5b46534462/frankston_view_mid_article_image.jpg" alt="Activity centres like Frankston will now have certain planning decisions made by the Victorian planning minister." data-mce-src="//images.ctfassets.net/8pr762qjocl3/5hG6qJqwI9TiqwiAztKWnX/05ab84d67a7500f3c3c7ed5b46534462/frankston_view_mid_article_image.jpg"></picture><div>▲ Activity centres such Frankston will now have some planning decisions made by the Victorian planning minister. </div></div>The Future Homes program will also be expanded with more designs that developers can purchase and adapt to opt for a streamlined planning process.These Future Homes plans are only available in the City of Maribyrnong but there are plans to extend it to all general residential zones where development is occurring within 800m of an activity centre or train station.&nbsp;The types of homes that need planning permits will be changed as will getting approval for granny flats.Victoria’s design standards for apartments will also be strengthened.Activity centres will also be a focus with 60,000 homes around 10 centres being an objective for the government for the end of 2024.&nbsp;The 10 centres will be Broadmeadows, Camberwell Junction, Chadstone, Epping, Frankston, Moorabbin, Niddrie, North Essendon, Preston and Ringwood.&nbsp;<div id="7InUBELLLX45OWHHp7FUhd"></div>Legislation including the Planning and Environmental Act 1987 will be overhauled as well.&nbsp;A timeline for this change will be announced in the next few months.The department will also bring on 90 new planners over the next few months to help make the changes happen.

The Victorian government has detailed its revamps of the planning system as it works to speed up approvals and solve the housing crisis…

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Constrained supply and long-term leases are proving appetising for investors looking for yield diversification in the life sciences market.&nbsp;The life sciences asset class has suffered a bit of an identity crisis, straddling office, healthcare and industrial.&nbsp;But the specialised market segment, driven by the ongoing demand for purpose-built facilities that serve <a data-mce-href="https://www.theurbandeveloper.com/articles/life-science-investors-boom-1bn" href="https://www.theurbandeveloper.com/articles/life-science-investors-boom-1bn" target="_blank" rel="noopener">life sciences industry participants, is maturing</a>.&nbsp;Colliers associate director for healthcare and retirement living valuation and advisory services David Mugenyi said there had been a notable surge in occupier demand.&nbsp;“There has also been increased interest from institutional funds looking to invest in Life Sciences property assets, thanks to state and federal govenrment policies, which aim to reduce Australia’s reliance on the global supply chain for pharmaceuticals and vaccines,” Mugenyi said.“The availability of purpose-built life science facilities in the market remains limited, creating a gap between demand from occupiers and the ability of landlords to provide suitable space.&nbsp;“Given constrained supply and attractive long-term leases typically exceeding 10 years, life science assets come with an appealing yield profile ranging from 4.75 per cent to 5.5 per cent.”<div id="1sa7l2K3L5fnQuuk7B98DQ"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1JR4awtn7jz9LU99mSYj6U/8490e2525e6bdf7f48b1cb7f4f44ed98/Gold_Coast_Life_Sciences_Centre__1_.jpg" alt="Outside the proposed Gold Coast Life Sciences Centre at Southport." data-mce-src="//images.ctfassets.net/8pr762qjocl3/1JR4awtn7jz9LU99mSYj6U/8490e2525e6bdf7f48b1cb7f4f44ed98/Gold_Coast_Life_Sciences_Centre__1_.jpg"></picture><div>▲ Lumina at the Gold Coast Health and Knowledge Precinct at Southport. </div></div> Colliers director Ash Dean said Melbourne’s Ferntree Business Park at Notting Hill and near the Monash Business Park precinct continued to lure the biomedical industry.&nbsp;“Over the last few years we have seen a significant rise in enquiry from biomedical and life sciences occupiers seeking space in the Monash precinct,” Dean said. &nbsp;The Gray Puksand-designed Ferntree Business Park is a new-generation business park that has created a lifestyle precinct through clever planning and design.According AusBiotech, the number of life sciences organisations has increased 60 per cent from 2017 to 2022 and significant government investment has accelerated this further.&nbsp;And a recent Knight Frank report has ranked the life sciences asset class fourth for capital allocation in the next 18 months.&nbsp;Life sciences continues to boom as the industry’s revenue is forecast to grow to $10 billion in the next five years and it’s all green lights for property investors.<a href="https://www.theurbandeveloper.com/articles/life-sciences-lure-investors-to-35bn-market" target="_blank" rel="noopener" data-mce-href="https://www.theurbandeveloper.com/articles/life-sciences-lure-investors-to-35bn-market">Superannuation funds and offshore capital are diving into the life sciences property sector,</a> according to a report commissioned by Colliers and Harrison Street this year, while developers compete for prized land close to medical precincts.&nbsp;

Constrained supply and long-term leases are proving to be appetising for investors looking for yield diversification in the life sciences market.

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Sustainability is on the development agenda for several ports in Victoria as infrastructure projects ramp up in the state.The Victorian Renewable Energy Terminal is planned for the Port of Hastings at Western Port—$27 million has been set aside for it in the state budget.The terminal will help build large-scale offshore wind infrastructure, such as foundations, towers and turbines.&nbsp;They are earmarked for Victoria’s first offshore wind farm, which aims to achieve offshore wind targets of at least 2GW by 2032, 4GW by 2035 and 9GW by 2040 to move towards net zero by 2045.&nbsp;Australia currently does not have another port suitable for large scale offshore wind construction.&nbsp;Offshore Wind Energy Victoria, a division of the Department of Energy, Environment and Climate Action, has been established to help industry and developers be a part of offshore wind projects.&nbsp;The Port of Hastings was chosen thanks to its large areas of zone land, proximity to existing port precincts, deep water channels and proximity to offshore wind projects on the Gippsland coast.&nbsp;A 15,000sq km area of Bass Strait off Gippsland in waters between Lakes Entrance and Wilsons Promontory has been declared&nbsp; Australia’s first offshore wind zone by the Federal government.&nbsp;Another offshore wind zone, this one in the Southern Ocean off the coast of Portland, has also been proposed—a 60-day public consultation recently closed.&nbsp;The renewable energy Terminal would be built at the Old Tyabb Reclamation Area within the existing port and industrial zone.It would be be set up as a multi-user facility with new berths, heavy-duty pavements and other major supporting infrastructure.&nbsp;More reliable power for the state, jobs and billions in investment is expected to be generated by the project, according to minister for ports and freight Melissa Horne.&nbsp;“This project will give industry further confidence to kick-start renewable energy projects and deliver thousands of ongoing job opportunities for Victorians in our renewable energy future,’’ Horne said.&nbsp;<div id="1Q5GG7bPhqQSgPYwszIE8J"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4G9DyScuuCF5NZqAFPmmeB/0b8d579d6c97b0c04c23f6ff300539e7/MSC-Antonella-2048x1363.jpg" alt="The Port of Melbourne has recently received a loan to help achieve sustainability targets." data-mce-src="//images.ctfassets.net/8pr762qjocl3/4G9DyScuuCF5NZqAFPmmeB/0b8d579d6c97b0c04c23f6ff300539e7/MSC-Antonella-2048x1363.jpg"></picture><div>▲ The Port of Melbourne has recently received a loan to help achieve sustainability targets. </div></div>Meanwhile, a syndicate of 10 banks has funded a loan for the Port of Melbourne to work towards the port becoming more sustainable.The $475-million loan will go towards two indicators for scope 1 and 2 emissions reductions, a mental health first aid workplace certification and a gateway target for scope 3 emissions reduction tied to engagement with port stakeholders.Port of Melbourne chief executive Saul Cannon said it was a key part of the port’s decarbonisation strategy, which included joining the C40 Green Ports Forum.&nbsp;“As Australia’s largest general cargo and container port, we are committed to facilitating the decarbonisation of the port’s supply chain, minimising the port’s impact on our land, air and waters and building strong stakeholder relationships,” Cannon said.“In addition, we’ve committed to engaging with our tenants, shipping lines and other port users on emissions reduction measurement and opportunities.” Decarbonisation efforts are being considered for<a data-mce-href="https://www.theurbandeveloper.com/articles/national-intermodal-beveridge-industrial-freight" href="https://www.theurbandeveloper.com/articles/national-intermodal-beveridge-industrial-freight" target="_blank" rel="noopener"> other key infrastructure projects including the Beveridge Intermodal Freight Terminal</a>.

 The facility for large-scale offshore wind infrastructure slated for Melbourne’s south-east is tipped to deliver energy sector opportunity…

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The City of Port Phillip says the Victorian planning department is snubbing it over Fishermans Bend.The council has told the community the state department has repeatedly not responded to requests for meetings and consultation over developments in the sector.It is now asking for support for a campaign to get the state government to open up lines of communication over the development hotspot.Fishermans Bend has five precincts across two local government areas—the City of Melbourne and the City of Port Phillip.&nbsp;With current zoning conditions in place, it has become an attractive spot for development as a key part of the city fringe.&nbsp;Australia’s largest urban renewal project of 480ha, by 2050 it is expected to be home to 80,000 people and with employment for up to 80,000.&nbsp;Planning and development for the area is handled by the Fishermans Bend Development Board with support from the state planning department’s Fishermans Bend Taskforce.&nbsp;The department’s website said that $15 million has been invested to push planning forward for long-term transport links with another $179.4 million already invested to develop the former General Motors Holden site into an innovation hub.&nbsp;A masterplan, the Fishermans Bend Framework 2018, was created through collaboration among the City of Port Phillip, the Victorian government, community, key developers and other stakeholders.It was meant to deliver open space, transport and infrastructure but council states that neither the open space nor infrastructure projects including Light Rail, Metro Rail and the Fishermans Bend community hospital have been delivered.&nbsp;“Despite the framework being released five years ago, there has been minimal progress achieved on any of the key initiatives,” City of Port Phillip’s acting mayor Andrew Bond said.“Any planned changes to the framework should involve consultation with the same partners who developed it.“This is crucial as there are limited opportunities to provide open space in Fishermans Bend due to a scarcity of suitable land and North Port Oval is already bursting at the seams.”Both Bond and Port Phillip mayor Heather Consulo said that much of the promised infrastructure is needed now as more people move into the area.A spokesperson for the Victorian government said there were plans to continue engaging with the council and other stakeholders.“As Australia’s largest urban renewal precinct, Fishermans Bend is targeted to accommodate 80,000 residents, 80,000 jobs and deliver 37,000 homes by 2050 and we’re working with the community and industry to activate the precinct,” the spokesperson said.“We will be opening a new primary school in Fishermans Bend in 2026 - building on our existing investments to deliver great local services for the growing population in the Fishermans Bend precinct.“We are continuing to work closely with stakeholders including the City of Port Phillip as we refine plans for Fishermans Bend, including infrastructure, to ensure we can meet the needs of the community for decades to come.”Commitments to open space and community hub infrastructure were to be achieved by 2025.&nbsp;The Victorian planning department did not respond to The Urban Developer’s question on the issue of it failing to respond to the council requests.Recent development in the area includes <a data-mce-href="https://www.theurbandeveloper.com/articles/fishermans-bend-planning-scheme-port-melbourne-amendment-project-approved" href="https://www.theurbandeveloper.com/articles/fishermans-bend-planning-scheme-port-melbourne-amendment-project-approved" target="_blank" rel="noopener">a planning scheme amendment being approved to allow FR Investments Group’s tower project</a> on Ingles Street to go ahead.&nbsp;

Australia’s largest urban renewal project is now the focus of a City of Port Phillip campaign to be consulted by the state planning department…


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The Urban Developer is excited to invite you to an exclusive networking lunch in Melbourne,where you can connect with more than 300 property professionals and gain valuable insights from industry leaders.This event, hosted by The Urban Developer, promises a three-hour, all-inclusive dining experience paired with exclusive perspectives from three prominent Melbourne developers: Time &amp; Place, Hamton, and Salta Properties. <a data-mce-href="https://cvent.me/7Drn2L?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" href="https://cvent.me/7Drn2L?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" target="_blank" rel="noopener">Click here to register</a> <hr> <h2>Event details</h2><ul><li>Date: Friday, October 20, 2023</li><li>Time: 11:30 am - 3:00 pm AEST</li><li>Venue: Metropolis Southbank, Melbourne</li></ul> <h2>Ticket options</h2><ul><li>Single Ticket: $250 + GST</li><li>TUD+ Members: $200 + GST (20% off)</li><li>Tables (10): $2,250 + GST</li></ul> <h2>Inclusions</h2><ul><li>Networking drinks upon arrival</li><li>Entree and main meal</li><li>Engaging developer panel discussion</li><li>Exciting lucky door prizes (valued at over $1000)</li><li>3.5-hour drink package</li></ul> With only 150 tickets available for sale, act swiftly to secure your spot at this must-attend event! <hr> <h2>Meet the Developers</h2> <div><div id="2c5ATv4ujmbtVdgBoAz0Qo"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1IUeuLp3hVgINbyVeGbGye/42f9d6bb8ff55ae2d85868b946176b7b/3.png" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/1IUeuLp3hVgINbyVeGbGye/42f9d6bb8ff55ae2d85868b946176b7b/3.png"></picture><div> </div></div></div>Emma Woodhouse, chief operating officer,&nbsp; Salta Properties Emma Woodhouse brings her extensive 19-year career experience, spanning construction and development, to oversee development, project management, asset management, sustainability, and marketing. Her remarkable journey began at Lendlease before joining Salta in November, 2019. <div id="1ZHHYwxcCKvaMX4daMZVgG"><div><div id="1uSYswoGisqIYEnBXpiIQv"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6A3D4M4IHC0wgjCeq8VfdX/82c0d023f0775c89892c1360fc49ac63/1.png" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/6A3D4M4IHC0wgjCeq8VfdX/82c0d023f0775c89892c1360fc49ac63/1.png"></picture><div> </div></div></div></div>Paul Hameister, co-founder, Hamton Property Group Paul combines legal and finance expertise with a prolific real estate development career. Under his leadership, Hamton has excelled in creating sustainable, community-centered spaces across residential, commercial, and mixed-use projects. Beyond property development, Paul is a seasoned mountaineer and polar explorer. <div id="6uYJlNTdhIcuYR6YpCEZkq"><div><div id="6nPnEhHAFh6tKHqFMlOYUx"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5DWvgK14HHQLlrt1NGKRHn/a21be646118898fb21dc99fc18b93425/2.png" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/5DWvgK14HHQLlrt1NGKRHn/a21be646118898fb21dc99fc18b93425/2.png"></picture><div> </div></div></div></div>Tim Price, founder, Time &amp; Place Tim has more than 20 years of property industry experience, and his design-driven passion has fueled significant developments in Melbourne and Sydney, with projects valued at $4.1 billion, emphasising Time &amp; Place’s commitment to transformative spaces. <hr> Don’t miss this exceptional opportunity to network with industry professionals and gain insights from these distinguished developers. Reserve your seat today for The Urban Developer Long Lunch and be part of the conversation shaping the future of property development. <a data-mce-href="https://cvent.me/7Drn2L?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" href="https://cvent.me/7Drn2L?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Editorial" target="_blank" rel="noopener">Click here to find out more.</a>

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Twenty years after he first acquired it, a Sydney businessman is selling a rare 8000-square-metre-plus office site on the banks of the Yarra River in Melbourne’s popular inner-eastern fringe.Industry commentators say the island site at Cremorne—with four street frontages and commanding views of the Melbourne cityscape—will fetch $80 million to $100 million.The former textiles warehouse, which sits on 8320sq m at 167-169 Cremorne Street, houses ASX-listed essential services providers Ventia.An international expressions-of-interest campaign is being handled by global commercial real estate and investment managers JLL, who described Cremorne as “the country’s most proven development precinct”.Head of capital markets Josh Rutman told The Urban Developer&nbsp;it was rare to see a site of this size come to market in that neighbourhood.“Most of the sites in Cremorne are around 500 to 1000 square metres,” he said. “This is at least eight times the size, and there’s very, very few that have traded over 5000sq m in the past couple of decades.“It’s got four street frontages, it’s got scale, so it allows you to do a number of different development outcomes, it’s got an existing building on it which is still of very good quality and it’s generating income from an ASX-listed tenant.”<div id="6SR1cfnXfSNCfE1EIByJvp"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4o3A5z1qvJD5lwF3QnluJy/8202892f5bdf86f0e647546fb58f48b0/Cremorne_Sale_Mid__800x500_.jpg" alt="an aerial photo of the former textiles warehouse, which sits on 8320sq m and has street frontages on all four sides." data-mce-src="//images.ctfassets.net/8pr762qjocl3/4o3A5z1qvJD5lwF3QnluJy/8202892f5bdf86f0e647546fb58f48b0/Cremorne_Sale_Mid__800x500_.jpg"></picture><div>▲ The former textiles warehouse on 8320sq m has street frontages on all four sides. </div>However, Rutman said, the real value was in the future potential of the site. </div>“And the fact that you’ve got holding income from a reliable tenant is a really handy, because as you know these developments can take years,” he said. “To have an income producing property, from a financing perspective, is a very good thing.”Online records show the site—bounded by Cremorne, Bent and Dover streets as well as the CityLink Freeway—last changed hands in June of 2003 for $8.2 million.Cremorne— just 3km from the centre of Melbourne—is&nbsp;<a href="https://www.theurbandeveloper.com/articles/60-cremorne-street-seek-development-construction-melbourne" data-mce-href="https://www.theurbandeveloper.com/articles/60-cremorne-street-seek-development-construction-melbourne">one of the city’s most sought-after commercial addresses</a>&nbsp;and is home to national corporations including Seek, Tesla, Carsales, REA Group, Domain, Reece and MYOB.JLL research shows tenant demand in Yarra City Council has continued to lead the office recovery nationally after recording two consecutive years of the highest net absorption figures.JLL head of office institutional sales Paul Kempton said they continued to field requests for scalable projects at Cremorne.<div id="2U7fr9KoHuZa9lqPwrr8EN"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7xbaEuUH6YsZIXMyzvW8gi/5c0a7b075b07e5a70d0ab16b9c521f1b/Cremorne_Sale_2_Mid_.jpg" alt="A photograph of the Carsales headquarters—one of a number of national corporations which count Cremorne as their home." data-mce-src="//images.ctfassets.net/8pr762qjocl3/7xbaEuUH6YsZIXMyzvW8gi/5c0a7b075b07e5a70d0ab16b9c521f1b/Cremorne_Sale_2_Mid_.jpg"></picture><div>▲ Cremorne is home to a number of national corporations, including Seek, Tesla, REA Group, Domain and Carsales.</div><div> </div></div>“Until about five or six years ago they didn’t actually have a lot of new stock in the Cremorne market and the existing stock had been in place for a long period of time,” Kempton said.“Originally, that growth was tenant-led and that gave the developers confidence to build new stock because they understood the merits of doing that. Some of these were even built speculatively.”Kempton said those buildings were now effectively full and achieving high rental income.“So not only is the depth of tenants growing but the stock has been growing with it to keep demand. This is one of the better performing fringe office markets in Australia.”He said that although suburbs such as South Melbourne, Carlton and Collingwood would always be good fringe office markets they were restricted in how much stock they could accommodate.“Whereas Cremorne can actually accommodate a much larger scale of stock,” he said. “It’s up to 400,000sq m now but can probably go up to a million square metres, to be honest, over the next 10 to 15 years.“And it will all be tenant-demand lead because the land’s there.”

Twenty years after he first acquired it, a Sydney businessman is selling a rare 8000-sq-m-plus office site on the banks of the Yarra River in Melbourne’s popular inner eastern fringe.

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Industrial and logistics developer and manager Logos Property Group is looking to offload a 20-ha purpose-built, industrial estate in Melbourne’s west.Logos put an option on the site at 435-503 Mt Atkinson Road, about 25km west of Melbourne’s centre, in a joint-venture deal with the global building materials giant James Hardie Industries in February last year.Online records show the land, which is part of the Troups Road Logistics Estate, changed hands for $103.7 million.Logos undertook extensive infrastructure work, while James Hardie—the world’s biggest maker of fibre cement products—secured development approval for a 100,000-square-metre production facility.However, brokers say James Hardie’s focus has moved away from Melbourne and towards Sydney and Brisbane, and it will now not progress with the development.Global commercial real estate and investment managers JLL value the turnkey package around $250 million.JLL’s director of industrial and logistics capital markets Joel Scully said potential buyers would be able to collaborate on the design and development of turnkey facilities.“Onshore and offshore capital groups are actively seeking opportunities to secure prime grade assets in major markets with the ability to realise strong growth in the rental market,” Scully said.Industrial and logistic&nbsp;<a href="https://www.theurbandeveloper.com/articles/cbre-jll-logistics-industrial-rent-rises-accelerate" data-mce-href="https://www.theurbandeveloper.com/articles/cbre-jll-logistics-industrial-rent-rises-accelerate">rents have continued to rise across Australia</a>, according to data from CBRE, underpinned by extremely low vacancy rates.“Major occupiers are also seeking opportunities to own their facilities rather than rent to create certainty of occupancy costs which are expected to continue to increase over the medium term,” he said.<div id="51j2Ui95P4NeIlb2I65xXs"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2ARKUKl01O6xZTyEvgYKsW/0febdb9ec19a6f095039357d0fd3feed/Logos_Industrial_Mid__.jpg" alt="An aerial photo showing the Truganina site, which JLL says has already seen considerable infrastructure work. " data-mce-src="//images.ctfassets.net/8pr762qjocl3/2ARKUKl01O6xZTyEvgYKsW/0febdb9ec19a6f095039357d0fd3feed/Logos_Industrial_Mid__.jpg"></picture><div>▲ JLL says considerable infrastructure work has already been undertaken on the Truganina site.</div><div> </div></div>The site—with a potential gross lettable area of about 125,000sq m— has good access to Melbourne’s arterial road network, including the Western Freeway and the M80 Metropolitan Ring Road, and is surrounded by several big industrial and logistics players.JLL head of logistics and industrial capital markets Ben Hegerty said there had been at least 15 groups who had shown interest in the week the property had been listed.Those had included occupiers, institutional groups and data centres.“AI (Artificial Intelligence) computing takes up somewhere between four and eight times more search engine power than doing a normal search through, say, Google,” Hegerty said.“All of the providers are now looking to the AI clients, such as chat GPT and other groups who provide AI-powered paid-prescription arrangements … they’re trying to get those style of users in.“You’re going to see really big, generic data centres that can just churn through heaps of power. And you’ll see them in the outer metropolitan areas, near power nodes.“So something like this, where 20ha 12 months ago might have been too big for a data centre operator…well, now they’re saying 20ha, that might be worth looking at.”The registration-of-interest campaign closes on October 4.

Industrial and logistics developer and manager Logos Property Group is looking to off-load a 20-ha purpose-built, industrial estate in Melbourne’s west.

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The nation’s first Social Housing Accelerator project will replace 196 units from the 1960s in inner-Melbourne with 231 homes.The project, on the site of the now-vacant public housing towers on Nicholson Street, Carlton, was announced by Prime Minister Anthony Albanese, Victorian Premier Daniel Andrews and Victorian Minister for Housing Colin Brooks during a visit to the site where demolition is planned to begin early next year.The redevelopment will be funded by the Federal government’s $2-billion Social Housing Accelerator and will increasing housing on the site by at least 10 per cent.The 231 homes will form part of 769 homes Victoria says it will deliver as part of the Social Housing Accelerator investment.The Federal government has earmarked almost $500 million for new social housing stock in Victoria on top of the state government’s $5.3-billion Big Housing Build, and the recently announced $1-billion Regional Housing Fund.When complete, all former residents of the Carlton towers will be invited to return to live in the new homes on the site, which will also be used to house tenants who live in other public housing redevelopment projects while they are under way.The announcement came the week after the Federal Parliament passed the $10-billion Housing Australia Future Fund.Since Victoria’s Big Housing Build began in November 2020, more than 7600 homes have been completed or are under way, and more than 2800 are complete, according to the Victorian government.“Every Australian deserves the security of a roof over their head—our steps to deliver more homes around the country under the Social Housing Accelerator start here in Carlton, where this housing will be given a modern rebuild to last for the long haul,” the PM said

The nation’s first project under the scheme will replace 196 units from the 1960s in inner-Melbourne with 231 homes…

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Port Phillip City Council has approved a residential mixed-use tower in Melbourne’s bayside but only if the developer scraps two levels from the 17-storey proposal.Caufield-based Auyin Property Development’s plans call for a 14-to-17-storey building with 94 apartments and food, drink and retail above three levels of basement parking for about 80 vehicles.The developers first lodged documents for the 1050sq m site at 14 Alma Road, St Kilda, in February, 2021. There were 45 objections to the $30-million development.Another 12 objections were received to amended plans that were filed in December last year, mostly regarding excessive building height and scale and loss of views to a nearby church.The council’s design and development overlay for the site allows for a discretionary maximum height of 13 storeys, or about 46m, with the possibility of a further two levels, with a height up to 53 metres.But in a report to the council in March this year, principal planner Phillip Beard recommended the southern part of the building be cut by two storeys.“Due to the site being located at the topographical high point of the St Kilda Hill precinct it is considered that the proposed height would not be acceptable,” Beard told the council.The proposal seeks 37 one-bedroom and 57 two-bedroom apartments plus a ground-floor food and drink outlet of about 200sq m and retail space of 60 square metres.The original plans also proposed some specialist disability accommodation (SDA) but that idea has since been scrapped.<div id="434Tn9ppTnA9z2ELbqUtpP"><picture><img src="//images.ctfassets.net/8pr762qjocl3/68P31MHeGuYbOV5PShpSuZ/e6bd22e70ec60056ffb75c5895de16f9/St_Kilda_Mid_800_x_650.jpg" alt="Objectors were concerned by excessive building height and scale, as well as the loss of views to a nearby church." data-mce-src="//images.ctfassets.net/8pr762qjocl3/68P31MHeGuYbOV5PShpSuZ/e6bd22e70ec60056ffb75c5895de16f9/St_Kilda_Mid_800_x_650.jpg"></picture><div>▲ Objectors were concerned by the planned building height and scale, as well as the loss of views of a nearby church.</div><div> </div></div>A two-storey, 1960s residential brick building with 22 apartments would be demolished to make way for the development.Beard said the council’s planning controls sought to encourage development that met the community’s retail, entertainment, office, and commercial service needs.“The proposed ground level, while only relatively small in relation to its commercial floor space, would achieve this,” Beard wrote.“These clauses also acknowledge that the population of Port Phillip will increase and, as such, development would need to accommodate increased housing demand.“New development needs to respect local character,” he said.&nbsp;&nbsp;“With the exception of height, this is considered to be achieved. The proposal would facilitate a substantial increase in dwelling numbers—even with the recommended level deletions—and would clearly activate this area in a much-needed way.”

Port Phillip City Council has approved a residential mixed-use tower in Melbourne’s bayside, on the condition the developers scrap two levels from what was to have been a 17-storey building.

MELBOURNE