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<p>With Brisbane to host the 2032 Olympic Games, Queensland is accelerating “smart” and “green” infrastructure projects right across the coast from Coolangatta to Coolum.</p><p>So what practical steps is the state government taking to bring Brisbane closer to being a smart city while managing rapid growth? And what differences can city residents realistically expect to see for themselves?</p><p>Exploiting a quarter century of technological progress</p><p>Vastly more ambitious than the South Bank building boom, which preceded Brisbane’s World Expo 88 in the pre-internet era, Queensland’s current infrastructure programs are exploiting the last quarter-century of technological progress.</p><p>Think sensor-triggered street lights, automated air conditioning and watering of parks and green facades. Envision robots for cleaning and construction, satmaps, swipe cards and QR codes. Data technology will be embedded in 32 existing and planned Olympic venues, the future athletes’ village at Northshore Hamilton (near Breakfast Creek) and the international media centres.</p><p>Technology will also underpin <a href="https://www.theurbandeveloper.com/articles/maroochydore-city-centre-walker-corporation-suncentral-development-construction" data-mce-href="https://www.theurbandeveloper.com/articles/maroochydore-city-centre-walker-corporation-suncentral-development-construction">a substantial city centre at Maroochydore</a>. Here, a mid-rise precinct will be powered via a solar farm at nearby Valdora, and will include fibre-optic telecommunications cables. In what may be a first for Australia, a new system will sluice garbage from chutes through underground vacuum pipes.</p><div id="5DHI4SU9devEX0uA5qDbro"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1yMLmggamwjG8AVEJfuNsL/6260f48176f26bfcde22c8c16d9001c6/1.jpg" alt="An artist’s impression of the new ‘data’ city centre being developed at Maroochydoore by Walker Corporation with the Sunshine Coast City Council. " data-mce-src="//images.ctfassets.net/8pr762qjocl3/1yMLmggamwjG8AVEJfuNsL/6260f48176f26bfcde22c8c16d9001c6/1.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ An artist’s impression of the new ‘data’ city centre being developed at Maroochydoore by Walker Corporation with the Sunshine Coast City Council.<br><br> </span></div></div><h2>A ‘New Norm’ Olympics</h2><p><br>All Games facilities must align with a set of 118 reforms the International Olympic Committee (IOC) calls its “New Norm” guidelines.</p><p>These were introduced in 2018 to improve energy efficiency, cost-effectiveness and long-term value from the huge development expenditure required of host governments.</p><p>There had been concerns about integrity and wastefulness in the IOC’s old-school supervision of Games bidding and delivery processes.</p><p>Brisbane’s Games win is accelerating and expanding some major public mobility programs offering “turn up and go” transport routes for the 4.4 million people expected to live in south-east Queensland by 2031.</p><div id="6O6HsBoy9bKDxdI9OwPXY0"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3RLYZR2GTYLqShus908YwV/f89e6b513d3416e41d0017dff5e2fc35/2.jpg" alt="A prototype of the Wisk aerial taxi proposed to be flying passengers around South-East Queensland before the Brisbane Olympics. Wisk Aero" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3RLYZR2GTYLqShus908YwV/f89e6b513d3416e41d0017dff5e2fc35/2.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A prototype of the Wisk aerial taxi proposed to be flying passengers around South-East Queensland before the Brisbane Olympics.&nbsp;<br><br> </span></div></div><h2>Aerial taxis without pilots</h2><p><br>The most provocative proposal—still speculative—is to introduce aerial taxis to fly passengers without pilots, but remotely supervised, between <a href="https://www.theurbandeveloper.com/articles/skyportz-electric-aircraft-evtol-development-opportunities" data-mce-href="https://www.theurbandeveloper.com/articles/skyportz-electric-aircraft-evtol-development-opportunities">future “vertiports”.</a></p><p>Wisk (backed by Boeing) has completed more than 1600 test flights with six generations of aircraft. The Brisbane model has 12 lift fans on two 15-metre wings and is powered by a battery in the tail.</p><p>Delegates at a recent Smart Cities Council transport workshop I attended noted the potential of autonomous aerial vehicles to change patterns of housing development beyond road and rail links. Even so, Queensland is rapidly expanding its terrestrial network.</p><h2>Land transport projects</h2><p><br>Brisbane’s <a href="https://www.theurbandeveloper.com/articles/brisbane-cultural-centre-metro-station" data-mce-href="https://www.theurbandeveloper.com/articles/brisbane-cultural-centre-metro-station">Cross River Rail line</a> is being extended northwards through a new twin tunnel under Brisbane River and four new underground stations at Boggo Road, Woolloongabba, Albert Street and Roma Street.</p><p>This project uses smart tunnel-boring machines to carve through the tuff (a type of volcanic rock, pronounced toof) that formed Brisbane’s geology more than 200 million years ago.</p><p><span class="mce-preview-object mce-object-iframe" contenteditable="false" data-mce-object="iframe" data-mce-p-allowfullscreen="allowfullscreen" data-mce-p-src="https://www.youtube.com/embed/TpWitOUYlHY"><iframe src="https://www.youtube.com/embed/TpWitOUYlHY" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen"></iframe><span class="mce-shim"></span></span></p><p>As well as supporting the new health, science and education precinct near Boggo Road, this rail extension will connect the city’s southern suburbs with the existing line north from Bowen Hills.</p><p>And <a href="https://www.theurbandeveloper.com/articles/gold-coast-light-rail-broadbeach-mermaid-beach-work-begins" data-mce-href="https://www.theurbandeveloper.com/articles/gold-coast-light-rail-broadbeach-mermaid-beach-work-begins">work continues on extending</a> the Brisbane-to-Gold Coast light railway (also known as the G:Link).</p><p>This extension will provide eight new stations along a 6.7km track from Broadbeach to Burleigh Heads. The G:Link service uses German Bombardier Flexity carriages that are bi-directional and air-conditioned, with low-level floors matching station platforms and storage for wheelchairs, bikes, prams and surfboards. These are electric-powered via 750V overhead cables.</p><h2>Superfast bus charging</h2><p><br>More innovative is the Brisbane Metro project, which is being tested to potentially supply 60 electric buses (or “trackless trams”) to supplement the city’s existing fleet. These would be battery-powered by a combination of 600kW, six-minute, superfast “flash chargers” at end-of-line stations and 50kW, overnight, slow chargers at depots.</p><p>Each bus can be recharged up to 85 times faster than an electric car at home – but the flash system degrades batteries more than slow charging overnight.</p><div id="3QEKhzvqmlq8qjV7X6a2wx"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6Hw7fBZzH94wmmp9sX7ypV/0e75b2798da21f0d3cce1932470e1150/4.jpg" alt="Artist impression of a Brisbane Metro electric bus emerging from a city tunnel, with an older bus on the ramp." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6Hw7fBZzH94wmmp9sX7ypV/0e75b2798da21f0d3cce1932470e1150/4.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Artist impression of a Brisbane Metro electric bus emerging from a city tunnel, with an older bus on the ramp.<br><br> </span></div></div><h2>Healthy footbridges</h2><p><br>Although two of Brisbane’s four proposed “green bridges” for pedestrians and cyclists were paused to prioritise flood recovery, new crossings from the city to Kangaroo Point and Newstead to Albion are expected to open in 2024.</p><div id="2Gm0DMSy0YOlJTr2wYtDYE"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1vfWoIT0SEKCgqBGcoZ0vM/a21dabd2d2daf7df09d01ac6dab51cdf/3.jpg" alt="Artist impression of the green bridge between Kangaroo Point and Ann Street now under construction in Brisbane.&nbsp;Queensland government." data-mce-src="//images.ctfassets.net/8pr762qjocl3/1vfWoIT0SEKCgqBGcoZ0vM/a21dabd2d2daf7df09d01ac6dab51cdf/3.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Artist impression of the green bridge between Kangaroo Point and Ann Street now under construction in Brisbane.&nbsp;<br><br> </span></div></div><p>The <a href="https://www.theurbandeveloper.com/articles/kangaroo-point-green-bridge-brisbane-restaurant" data-mce-href="https://www.theurbandeveloper.com/articles/kangaroo-point-green-bridge-brisbane-restaurant">Kangaroo Point green bridge will include a restaurant</a> overlooking the botanic gardens. Newstead bridge will join the 1.2km-long Lores Bonney Riverwalk.</p><p>These are examples of a new phenomenon in public transport planning—to not merely move people between destinations but also boost their health and enjoyment outdoors.</p><p>As Smart Cities Council global chief executive Corey Gray told me at the Smart Cities Council conference: Smart cities are not ultimately about data and technology, but improving human systems.<br><br></p><hr><p><br><strong>Author</strong></p><p>Davina Jackson<br>Visiting Scholar, Department of Architecture, University of Cambridge</p><p>&nbsp;This article is republished from The Conversation under a Creative Commons license. Read the&nbsp;<a href="https://theconversation.com/queenslands-high-tech-plan-to-make-the-2032-brisbane-olympic-games-smarter-and-greener-193949" data-mce-href="https://theconversation.com/queenslands-high-tech-plan-to-make-the-2032-brisbane-olympic-games-smarter-and-greener-193949">original article</a>.</p>

The Olympic Games of 2032 will be the greenest in the event’s history as the Queensland capital ramps up its bid to become a smart city…

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<p>Every day, driving along the Captain Cook Highway skirting the picturesque coastline between Cairns and Port Douglas, he gazes across the turquoise abyss of the Coral Sea.</p><p>“And every day I just look out there and go, ‘F***, I wish there was a wave’,” laments veteran surfer and developer David Imgraben.</p><p>Of course, with the Great Barrier Reef living up to its name just offshore, the forces of nature have conspired against his endless pipe dream.</p><p>But Imgraben is not letting a 2300km-long coral reef system put an end to his hopes of one day riding a barreling wave in the Far North Queensland surfing nirvana of his mind’s eye.</p><p>In the development world, imagination and opportunity are indeed two of the most powerful forces of nature.</p><p>And with the convergence of new wave pool technology, a pandemic-triggered surfing boom and surge in lifestyle-driven demand for housing there is now a rising tide of major projects with surf parks as their centrepiece.</p><p>Imgraben’s <a data-mce-href="theurbandeveloper.com/articles/plans-approved-for-aud320m-port-douglas-wave-park" href="theurbandeveloper.com/articles/plans-approved-for-aud320m-port-douglas-wave-park" target="_blank" rel="noopener">$320-million NorthBreak proposal</a> for a 40ha site near Port Douglas is among the fast-evolving new asset class, which has emerged from next-generation wave machines designed to mimic ocean swells.</p><p>At last count, the number of surf park projects planned or under construction across Australia had already hit double digits.</p><p>So far, however, only one—Urbnsurf Melbourne—is up and running. Built on a 5.4ha site owned by Melbourne Airport at Tullamarine, it is capable of generating up to 1000 waves an hour and has been attracting more than 100,000 visitors a year.&nbsp;</p><div id="73gYdHyFl2l5YSaD9nZVPA"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7kcdPYg8XNAcHuOE2Luqsg/8e536641a5f885d30ae5d9aef66874c3/4.jpg" alt="A computer-generated image of the NorthBreak wave park planned for far north Queensland." data-mce-src="//images.ctfassets.net/8pr762qjocl3/7kcdPYg8XNAcHuOE2Luqsg/8e536641a5f885d30ae5d9aef66874c3/4.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A computer-generated image of the NorthBreak wave park planned for Far North Queensland.<br><br></span></div></div><p>The planned NorthBreak Port Douglas surf park is part of a masterplanned resort earmarked for a cane farm property next to the Mowbray River and less than 10km from the tourist town.</p><p>One of a handful of local proposals utilising Canada-based Whitewater’s pneumatic Endless Surf technology, it also comprises a freshwater swimming lagoon and aqua park, 4.5-star hotel with 160 guest rooms, waterfront “paddle-in, paddle-out” villas, 35-cabin tourist park as well as alfresco dining decks, cafes and retail shops.&nbsp;</p><p>But despite being approved by the Douglas Shire Council in March, NorthBreak’s progress has been blocked by an appeal lodged with the Planning and Environment Court over claims of inappropriate land use and potential ecological impacts.</p><p>“So, we’re still going through the process,” Imbragen says.</p><p>Meanwhile, his daily commute beside the waveless wide blue yonder of the Coral Sea has become even more tortuous after a recent tour of surf park developments in Europe and the US.&nbsp;</p><p>The itinerary included a session at Alaia Bay, a wave pool in Sion at the foot of the Swiss Alps that is open almost year-round except for a three-week shutdown for maintenance.</p><p>“It blows me away,” Imgraben says. “It’s a country that doesn’t even have a coastline and there you are riding near perfect waves with this magnificent backdrop of the Swiss Alps behind you. It’s that sort of dream of being able to surf in the morning and ski in the afternoon—it’s quite do-able over there.”</p><p>The similarities between the evolution of the ski resort industry with the invention of the chairlift in the late 1930s and the current rise of surf parks with recent advances in wave pool technology is not lost on Urbnsurf founder Andrew Ross.</p><p>“From then until now there’s been about 5500 ski resorts developed around the world and 30,000 chairlifts installed,” he says. “You can see some definite parallels between what happened in snow sports and what could potentially happen in surf sports with manmade environments.”</p><div id="42VcL4pnaMiWHwWeqQLQDE"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3PYEbqE19dIbespZ5CWaym/9e4fe70b55a542c2a486dcaa50d9efa5/7.jpg" alt="Slotted in the Swiss Alps: A surfer gets barrelled at the Alia Wave Park in Switzerland." data-mce-src="//images.ctfassets.net/8pr762qjocl3/3PYEbqE19dIbespZ5CWaym/9e4fe70b55a542c2a486dcaa50d9efa5/7.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Slotted in the Swiss Alps: A surfer gets barrelled at the Alaia Bay wave park in Switzerland.<br><br></span></div></div><p>Ross—a former lawyer and investment banker—stumbled upon a newspaper article about a patent dispute over a wave pool design in 2012 and, after some research and quite a few phone calls, he found himself paddling on to a wave in a prototype surfing lagoon built under the cover of darkness in the hills behind San Sebastian in Spain.</p><p>“I paddled into my first wave, surfed along it, did five or six turns, kicked out and went ‘Holy s**t, this thing is real’,” he recalls. “The wave was only about thigh high but I could see right away where the potential for the technology could go.</p><p>“I’d turned up to the session with my cynical investment banking hat on and came away having lunch with the Wavegarden guys and signing up the rights to Australia for their technology.”</p><p>That was the easy part. Coming up with the equity for what he calls Australia’s first “church to surfing” in Melbourne was—as he puts it—“the single most difficult raise I’ve done in my career”.</p><p>“We had this unproven prototype technology and there was no business model wrapped around it.”</p><p>Eventually he says most of the capital came from “family office money and high-net-worth investors” many of whom have also supported Urbnsurf’s second wave pool project <a data-mce-href="https://www.theurbandeveloper.com/articles/urbnsurf-homebush-sydney-surf-park" href="https://www.theurbandeveloper.com/articles/urbnsurf-homebush-sydney-surf-park" target="_blank" rel="noopener">under construction at Sydney’s Olympic Park</a>.</p><div id="5zEkUk6vTLxw3CSUJyvhZr"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6mo9mou0xM9Iq0wAPyOwsv/6beabb17aff01c801f1809889b07e223/8.jpg" alt="Urbnsrf Melbourne is currently the only operational surf park in Australia." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6mo9mou0xM9Iq0wAPyOwsv/6beabb17aff01c801f1809889b07e223/8.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ Urbnsurf Melbourne is currently the only operational surf park in Australia.<br><br></span></div></div><p>Now spearheading US-based Aventuur’s plans for the <a data-mce-href="https://www.theurbandeveloper.com/articles/developer-southern-hemisphere-biggest-wave-park-perth" href="https://www.theurbandeveloper.com/articles/developer-southern-hemisphere-biggest-wave-park-perth" target="_blank" rel="noopener">southern hemisphere’s largest surfing lagoon development</a> on a 5.8ha site owned by the Western Australian government in Perth’s southern suburbs, Ross says the nascent asset class is on the precipice of securing “proper institutional grade capital”.</p><p>“The interesting thing about this asset class is the lagoon itself is fantastic, it makes a tonne of money and it has got a great margin profile (40-50 per cent EBIDTA) but it’s really all about its destinational value.</p><p>“It’s a massive attractor and what it does, because of that, is it then elevates all the surrounding property around the park, so having it as a centrepiece to a larger integrated property development makes a whole lot of sense.”</p><p>Imbragen agrees and says there is an accelerating incorporation of surf parks in real estate projects, which is creating a lifestyle and “enabling people to participate in that lifestyle who normally wouldn't be able to”.</p><p>“It’s only early days but already there’s probably hundreds of these wave pools in various stages of planning around the planet … and increasingly they are being used as a focal point to anchor real estate developments.”</p><h2>The race is on</h2><p><br>Ross says there is also now “a bit of a race to the finish line” occurring in the industry.</p><p>“In the same way you’ve got a limited number of airports or maybe major sports stadiums or the like, if you can be the first in a market you can get monopolistic control of it,” he says.</p><p>Much of the initial surf park development momentum came from 11-time world champion Kelly Slater’s unveiling of his Surf Ranch wave pool prototype at Lemoore in California in December 2015.</p><div id="2Q8ZblXOjqnMM5wWpFS1Ua"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3w9KOET0lo1Blv2HJukpM2/f293aa9ed0ef2310fa88fa26f4be7f31/5.jpg" alt="The start of it all: Kelly Slater’s Wave Ranch put high-performance wave pools on the map." data-mce-src="//images.ctfassets.net/8pr762qjocl3/3w9KOET0lo1Blv2HJukpM2/f293aa9ed0ef2310fa88fa26f4be7f31/5.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The start of it all: Kelly Slater’s Surf Ranch put high-performance wave pools on the map.<br><br></span></div></div><p>It remains surfing’s hottest and most expensive ticket to ride a manmade wave. Even at a reported cost of $10,000 a session or $50,000 to $100,000 a day to rent the entire facility, it is booked out up to 12 months in advance.</p><p>“That validation with Kelly supporting this space gave people a lot of confidence—you know, that the world’s best ever surfer thought that this was an authentic experience, which was true to surfing. It kind of helped everyone really and absolutely broke through a lot of barriers,” Ross says.</p><p>Avid surfer and one of Queensland’s most successful developers, Don O’Rorke, has not only ridden “the Kelly Wave” but also forged a partnership with the World Surf League—pro surfing’s governing body and a major stakeholder in the Kelly Slater Wave Company.&nbsp;</p><p>Under a plan to bring Surf Ranch to Australia revealed back in 2019, O’Rorke’s Consolidated Properties Group has proposed a $1.1-billion multistage integrated resort with a surf stadium, eco-lodge, residential development, retail village as well as a food and beverage precinct on a 510ha site at Coolum on the Sunshine Coast.</p><p>But with the project still awaiting support from the local council and Queensland government it has been left in limbo.</p><p>“We remain in discussions with the state government and the Sunshine Coast Council in regard to what we can do with our Coolum land,” O’Rorke recently told <em>The Urban Developer</em>.</p><p>Meanwhile, a legal stoush has unfolded between two other rival surf parks planned for the region. One of them is a 25ha integrated resort development by Sanad Capital that has recently begun works on what its chief executive Bradley Sutherland claims will be “the best surf pool in Australia” using American Wave Machine's PerfectSwell technology.</p><p>North of Sydney, Wiseman’s Surf Lodge—a $120-million adaptive re-use of an existing hotel complex—has been approved for a freehold 18ha site on the banks of the Hawkesbury River. It is being developed by surf park creator and operator Balnce with funds raised through an unlisted property trust.</p><p>It will be operated under a private membership and events model.</p><div id="4ejfwZiNUER6QTLHyRvqJs"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1Fv0isPEd0UNiU2mkxbj7I/25d895844ab9a1d922bc05af85afc741/Mid_article_resizes__23_.jpg" alt="A render of the planned Wiseman’s Surf Lodge, north of Sydney." data-mce-src="//images.ctfassets.net/8pr762qjocl3/1Fv0isPEd0UNiU2mkxbj7I/25d895844ab9a1d922bc05af85afc741/Mid_article_resizes__23_.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A render of the planned Wiseman’s Surf Lodge, north of Sydney. <br><br></span></div></div><p>Director John Du Vernet says the capital raise has reached its minimum target to start construction on the project, which has been designed by architect Kelvin Ho— also known for his work with pub tsar Justin Hemmes’s Merivale hospitality ventures.</p><p>“It’s an asset class that is just ripe for growth,” he says. “And there’s more and more coming online globally … so, clearly, they’ve established themselves as investable and the future should be very exciting for valuations.”</p><p>Referring to the development parallels drawn with the ski resort industry, Du Vernet says: “If you think about it, where’s the value created? It’s not on the mountain, it’s all around the mountain … it’s a total halo effect.</p><p>“And that’s why we want to be the landlord, not the tenant, because all the value is in the ground.</p><p>“We’ve always thought that when you’re spending this much money on ground improvements, you want to have freehold. So, we discounted leasehold opportunities and that allows you to look at these assets slightly differently, it allows you to really leverage the site.”</p><h2>Ripple effect</h2><p><br>The project’s ripple effect is already being felt with billionaire property mogul Sam Arnaout’s Iris Capital forking out about $10 million for nearby heritage pub the <a data-mce-href="https://www.theurbandeveloper.com/articles/iris-capital-bill-young-wisemans-inn" href="https://www.theurbandeveloper.com/articles/iris-capital-bill-young-wisemans-inn" target="_blank" rel="noopener">Wisemans Ferry Inn Hotel.</a></p><p>On the central Queensland coast near Yeppoon, a development agreement was recently struck between Surf Lakes International—innovator of arguably one of the most unique prototype wave-making contraptions—and wave pool operations company Global Surf Parks.</p><p><span class="mce-preview-object mce-object-iframe" contenteditable="false" data-mce-object="iframe" data-mce-p-allowfullscreen="allowfullscreen" data-mce-p-src="https://www.youtube.com/embed/zFlV5LUA30g"><iframe src="https://www.youtube.com/embed/zFlV5LUA30g" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen" data-mce-src="https://www.youtube.com/embed/zFlV5LUA30g"></iframe><span class="mce-shim"></span></span></p><p>The facility’s Mad Max-like plunger technology has the capacity to create 2000 rides an hour with 200 surfers in its large 80-million-litre man-made lake at a time.&nbsp;</p><p>Under the agreement, the existing research and development site will be rebuilt, expanded from a 6ha to 40ha footprint and developed in three stages—with the first priority being to establish its facilities so that it can be opened to the public.</p><p>Approval was granted last year allowing for accommodation, a food and beverage precinct, camping and glamping facilities as well as an events and entertainment area.</p><p>“We’re looking at this being a destination,” says Global Surf Parks business development manager Wayne Dart. “I mean, we’ve got 800m of waterfront land in a spectacular environment—so, obviously, from a residential, hotel, retail, commercial or food and beverage perspective you’re looking at prime land.</p><p>“And we’ve already had discussions with quite a few developers who may take on the remaining acreage.”</p><p>Aventuur’s Andrew Ross says the new asset class is filled with very passionate people who believe in it but he adds—without pointing his finger—that some of them suffer from an affliction he calls ‘surf park fever’.</p><p>“The symptoms of surf park fever are a complete suspension of reality when it comes to commercial matters and thinking about property development and the like, and just an abiding passion and unrelenting desire to get the thing built in your hometown so you can actually surf it.”</p><div id="1U6g4SaVJVXaCAgO4aZdfQ"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7okH3TG2JJn5m37EbveudR/c04e7d046fc8894d8032aef3564c45cf/2.jpg" alt="A render of Aventuur's planned Perth wave park." data-mce-src="//images.ctfassets.net/8pr762qjocl3/7okH3TG2JJn5m37EbveudR/c04e7d046fc8894d8032aef3564c45cf/2.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ A render of Aventuur's planned Perth wave park.<br><br></span></div></div><p>Ross says the fundamental way for a surf park business to make money is “a function of bums on boards multiplied by frequency of waves—that’s kind of essentially what it comes down to”.</p><p>But he warns: “This is a very technical, in some respects very difficult space to develop in. These are incredibly complicated pieces of infrastructure that you need to build. And then they’re linked to a highly complicated operating model.”</p><h2>Limited opportunity</h2><p><br>In the Australian context, his research indicates the window of opportunity may be limited to as few as “probably 10 or 11” commercial surf parks across the whole country that will “perform well, do a decent return for their investors and provide good solid experiences for their guests”.</p><p>“And you’re going to have to deliver an authentic experience for it to be successful,” Ross says. “These assets are not a soul-less space, they very much have to have a soul.</p><p>“Success for me was when I heard people starting to refer to the surf park in Melbourne as their local break.</p><p>“There’d be a bunch of people driving up from Torquay and Bells Beach to surf in the lagoon, which in itself was incredible to me—we’d turned the traffic around and all the cars with surfboards on their roof racks were heading towards Melbourne rather than down the coast.</p><p>“But then you’d also have all of these locals surfing in the park referring to these ‘coastals’ coming into their lagoon … that’s just an illustration of culturally what success can be around these assets.</p><p>“People have a great deal of ownership of these things and they can sniff out really quickly if you’re not authentic.&nbsp;But the opportunity is there and if you get it all right it’s a fantastic ride.”<br><br></p><hr><p><strong><br>You are currently experiencing <em>The Urban Developer</em> Plus (TUD+), our premium membership for property professionals. </strong><a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"><strong>Click here to learn more.</strong></a></p><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture></div>

Surf parks as development centrepieces are on the rise, riding the wave of new technology, a pandemic-triggered surfing boom and lifestyle-driven housing demand...

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Brisbane's skyline is set to transform rapidly over the coming years thanks to a number of major development projects... 

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<p>The NSW government has announced a dramatic new plan to redevelop an area over the rail lines at Sydney’s Central Station into a new high-density precinct that would bring thousands of extra workers and residents to the southern end of the CBD.</p><p>The masterplan for the 24ha site will include up to 15 new buildings that will range in height from four to 34 storeys, and house offices, hotels, apartments, restaurants and bars, and a variety of other community and cultural spaces.</p><p>The site will also have 60,000 sq m of open space in the form of three new parks, a major public square and several plazas.</p><p>The government estimates the precinct will take about 10 to 15 years to complete, but when finished will be a major destination for global companies, major hotels and retailers.</p><p>“We have a once-in-a-generation opportunity to reimagine this iconic part of our CBD and transform it into world class precinct of shops, restaurants, office spaces, parkland and additional housing,” said Premier Dominic Perrottet.</p><p>“It will be a major job-generating project and will inject further local and global business investment into the Sydney CBD.”</p><div id="l0vmi8ftn2n9Ek8C16IgK"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6pTwPK5iXORfjUN5tOyppT/98fe65c7e534b8e50011c8d5ee6d3393/3.jpg" alt="Renders of the planned redevelopment of the Central Station precinct in Sydney." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6pTwPK5iXORfjUN5tOyppT/98fe65c7e534b8e50011c8d5ee6d3393/3.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The 24ha site will include up to 15 new buildings.<br><br></span></div></div><p>The announcement comes as an area next to Central Station is already being turned into a technology hub that will include companies such as Atlassian, Afterpay, Canva, ROKT and Safety Culture.</p><p>Work has <a data-mce-href="https://www.theurbandeveloper.com/articles/work-begins-on-aud1-4bn-atlassian-sydney-headquarters" href="https://www.theurbandeveloper.com/articles/work-begins-on-aud1-4bn-atlassian-sydney-headquarters" target="_blank" rel="noopener">just started on Atlassian’s $1.4-billion headquarters</a> in the tech hub—a 39-storey hybrid timber tower, which is tipped to become the tallest of its type in the world.</p><p>The redevelopment of the Central Station precinct has been praised by planners and others in the industry who say it will be crucial to Sydney’s ability to continue attracting investment and growing the city’s economy.</p><p>“This kind of place is critical to the future of Sydney,” said<a data-mce-href="https://www.theurbandeveloper.com/articles/urbis-cities-kate-meyrick" href="https://www.theurbandeveloper.com/articles/urbis-cities-kate-meyrick" target="_blank" rel="noopener"> Urbis director Kate Meyrick.</a></p><p>It would “gift to Sydney the same type of opportunity as London’s Kings Cross rail yards”, she said, which would allow the precinct to attract “a number of enlightened, high-value businesses that help to bring energy to our economy and community.</p><p>“In a new knowledge economy these kinds of places are very valuable and important.”</p><p>The location on top of one of the busiest stations in the city, as well as next to major bus routes and the light-rail line, made it one of the most connected parts of the city and a natural ‘gateway’, she said.</p><p><span class="mce-preview-object mce-object-iframe" contenteditable="false" data-mce-object="iframe" data-mce-p-allowfullscreen="allowfullscreen" data-mce-p-src="https://www.youtube.com/embed/-E4J-czh1jQ?rel=0"><iframe src="https://www.youtube.com/embed/-E4J-czh1jQ?rel=0" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen"></iframe><span class="mce-shim"></span></span></p><p>Chief executive of The Committee for Sydney Gabriel Metcalf agreed the location made sense for such a large project.</p><p>“If you believe, as we do, that Sydney’s growth should be concentrated around public transport, then Central Station is one of the best places to go big.”</p><p>However, he said the real test would be whether the specific plan could “resolve the public realm issues of such a complicated site, with level changes and lots of passenger movements, to make it feel like a nice place to be. Over-station developments are notoriously tricky.”</p><p>The masterplan for the site includes 515,000 sq m of internal space across all the buildings, of which 52 per cent would be devoted to office space.</p><p>There would also be 850 new homes, with 15 per cent of those reserved for affordable housing, and a further 15 per cent for ‘diverse housing’, such as build-to-rent and student accommodation.</p><p>Chief executive of the Urban Development Institute of Australia (NSW) Steve Mann said they supported the Central Station Renewal plan, and praised the government for improving it since they took part in a workshop with the government in April.</p><div id="3oFGxcgSzNobDOCbwjfmD5"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4C4wsK3xTaHgl2uC0JaG74/213d8117a35503154c65a539db0264b9/2.jpg" alt="Renders of the planned redevelopment of the Central Station precinct in Sydney." data-mce-src="//images.ctfassets.net/8pr762qjocl3/4C4wsK3xTaHgl2uC0JaG74/213d8117a35503154c65a539db0264b9/2.jpg"></picture><div><span style="opacity: 0.8;" data-mce-style="opacity: 0.8;">▲ The masterplan is&nbsp; a chance to “heal” that part of the city, according to the NSW cities minister.<br><br></span></div></div><p>But he said it still was not ‘ambitious’ enough, given the location of the site.</p><p>“The site has the capacity to deliver much more than the proposed 850 dwellings,” he said.</p><p>“This would mean more opportunities for housing across the entire spectrum. More affordable housing, more student housing, more housing for young professionals and families and more opportunities for downsizers in one of the most accessible locations Sydney has to offer.</p><p>“A genuine commitment to mixed-use transit orientated development (TOD), that enables people to live and work in the heart of the city will activate the space and create vibrancy, and lead to a Central Precinct that Sydney can be proud of and one that matches the other great central stations of the world.”</p><p>Infrastructure, cities and active transport minister Rob Stokes said the new precinct would also be a chance to “heal” that part of the city, which had been “torn apart since the railway divided Surry Hills from Ultimo back in 1874”.</p><p>Several over-rail connections, including a Devonshire Street bridge, would be built linking the precinct to surrounding neighbourhoods, he said.</p><p>“The masterplan celebrated the heritage of the precinct while also offering a grand new public square, three new parks, new community, social services hubs as well as at least 30 per cent affordable and diverse housing to better meet the needs of all sections of the community,” Stokes said.<br>&nbsp;</p><hr><p><strong><br>You are currently experiencing <em>The Urban Developer</em> Plus (TUD+), our premium membership for property professionals. </strong><a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"><strong>Click here to learn more.</strong></a></p><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture></div>

The NSW government has announced a dramatic new plan to redevelop an area over the rail lines at Sydney’s Central Station...

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<p>Strong pricing for retail assets in the current market has meant that owners must be willing to part with high-performing assets. </p><p>In Vicinity Centres<em>’</em> case, the divestment of Runaway Bay, at an 18 per cent premium to book value, enabled Vicinity to invest in Harbourtown—a natural complement to its existing outlet business.&nbsp;&nbsp;</p><p>In this TUD Plus Briefing, taken from <em>The Urban Developer’s</em> <a href="https://the-urban-developer.myshopify.com/collections/on-demand-webinars/products/retail-property-vsummit" data-mce-href="https://the-urban-developer.myshopify.com/collections/on-demand-webinars/products/retail-property-vsummit">Retail Property vSummit</a>, Vicinity Centres chief development officer Carolyn Viney talks about her group’s ongoing work to balance the portfolio.</p><p>“At the core of our strategy is that diversification,” she said.</p><p><span class="mce-preview-object mce-object-iframe" contenteditable="false" data-mce-object="iframe" data-mce-p-allowfullscreen="allowfullscreen" data-mce-p-src="https://www.youtube.com/embed/vscI-w2ayBE?rel=0"><iframe src="https://www.youtube.com/embed/vscI-w2ayBE?rel=0" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen" data-mce-src="https://www.youtube.com/embed/vscI-w2ayBE?rel=0"></iframe><span class="mce-shim"></span></span></p><p><br>“The idea of shopping centres that are in neighbourhood centres and that non-discretionary spend—we've got a big part of our portfolio in that space.</p><p>“Then we've got the flagship centres in CBDs and places like Chadstone, which are playing to a different market.</p><p>“But then you've also seen us over the last couple of years really positioning ourselves to grow our mixed-use pipeline and that's the other key plank of how we see diversification for our assets.”</p><hr><p><strong><br>You are currently experiencing <em>The Urban Developer</em> Plus (TUD+), our premium membership for property professionals.<a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"> Click here to learn more.</a></strong></p><p><strong><img style="width: inherit; height: inherit;" src="https://images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" data-mce-src="https://images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" data-mce-style="width: inherit; height: inherit;"><br></strong></p>

In this TUD Plus Briefing, Vicinity Centres chief development officer Carolyn Viney talks about her group’s ongoing work to balance the portfolio and why it’s crucial...

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<p>The past two years haven’t been easy for many real estate sectors, in particular for retail, despite online shopping hitting new highs.</p><p>However, as we emerge from pandemic lockdowns and international border reopen, what’s next for the retail sector?</p><p>In this TUD Plus Briefing, taken from <em>The Urban Developer’s </em><a href="https://the-urban-developer.myshopify.com/collections/on-demand-webinars/products/retail-property-vsummit" data-mce-href="https://the-urban-developer.myshopify.com/collections/on-demand-webinars/products/retail-property-vsummit">Retail Property vSummit</a>, director of Location IQ Gavin Duane outlines his predictions, with the good news that while things may slow, opportunities remain.</p><p>Duane said the ending of isolation meant retail now had more competition for consumers’ dollars, including people keen to again travel overseas.</p><p style="margin: 0cm; font-size: 12pt; font-family: Calibri, sans-serif;" data-mce-style="margin: 0cm; font-size: 12pt; font-family: Calibri, sans-serif;"><span class="mce-preview-object mce-object-iframe" contenteditable="false" data-mce-object="iframe" data-mce-p-allowfullscreen="allowfullscreen" data-mce-p-src="https://www.youtube.com/embed/I_V5H7ydcNA?rel=0"><iframe src="https://www.youtube.com/embed/I_V5H7ydcNA?rel=0" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen" data-mce-src="https://www.youtube.com/embed/I_V5H7ydcNA?rel=0"></iframe><span class="mce-shim"></span></span></p><p><br>“In the next 12 months, we're still going to have some low population growth, inflation is increasing, real growth should remain relatively high,” he said.</p><p>“And that should mean a relatively robust retail sales environment.</p><p>“In the post 12 months, will have stronger population growth. Inflation will be increasing or moderating depending on a range of factors.</p><p>But real growth and what we spend on retail will have a lot more competition.</p><p>“I suspect we'll go back to a period where growth will be slower.</p><p>“So, the key for people is, in my view—there is a market out there. the question is can you make that market?”</p><hr><p style="margin: 0cm; font-size: 12pt; font-family: Calibri, sans-serif;" data-mce-style="margin: 0cm; font-size: 12pt; font-family: Calibri, sans-serif;"><br><strong>You are currently experiencing <em>The Urban Developer </em>Plus (TUD+), our premium membership for property professionals.<a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"> Click here to learn more.</a><br><br></strong></p><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture><div><br></div></div>

In this TUD Plus Briefing Location IQ Gavin Duane outlines his predictions for the retail sector, with the good news that while things may slow, opportunities remain…

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<p>Securing a site for development is not often cut and dried, with negotiations behind the scenes taking any manner of twists and turns.</p><p>For Forme’s Luna residential tower at Burleigh Heads on the Gold Coast, that was very much the case, as Forme managing director David Calvisi explains in this TUD Plus Briefing taken from <em>The Urban Developer</em> <a href="https://the-urban-developer.myshopify.com/collections/on-demand-webinars/products/boutique-development-vsummit" data-mce-href="https://the-urban-developer.myshopify.com/collections/on-demand-webinars/products/boutique-development-vsummit">Boutique Development vSummit</a>.</p><p>Luna, on Goodwin Terrace, is an eight-storey high-end tower with three-bedroom, full-floor apartments. All eight, priced from $3.9 million, sold out in January 2021. Construction was completed in February 2022.</p><p>Calvisi said the site, formerly the home of popular restaurant The Fish House, had been purchased from a group of investors in 2018 for $5.5 million.</p><p><span class="mce-preview-object mce-object-iframe" contenteditable="false" data-mce-object="iframe" data-mce-p-allowfullscreen="allowfullscreen" data-mce-p-src="https://www.youtube.com/embed/dN4ua4tOpLk?rel=0"><iframe src="https://www.youtube.com/embed/dN4ua4tOpLk?rel=0" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen" data-mce-src="https://www.youtube.com/embed/dN4ua4tOpLk?rel=0"></iframe><span class="mce-shim"></span></span></p><p><br>“One of those owners was actually the ex-chief executive of Billabong, Matthew Perrin—at the time he was in jail, and it made for a pretty tricky negotiation,” he said.</p><p>“We were able to get someone to go in and see him, and get the deal done that way.</p><p>“When we bought it, the site was leased to The Fish House and it had 10 years remaining on the lease.</p><p>So, a separate deal was struck with the owner to purchase the business … just shortly after purchasing the site.</p><p>“We paid $1.8 million for the business and that obviously included all the assets of the business which we which we sold down by via an auction.”</p><hr><p><br><strong>You are currently experiencing <em>The Urban Developer</em> Plus (TUD+), our premium membership for property professionals.<a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"> Click here to learn more.</a></strong></p><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture></div>

Forme’s David Calvisi takes you behind the scenes, including the negotiation to secure the site, for its successful luxury residential tower Luna at Burleigh Heads in this TUD Plus Briefing...

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<p>Creating a project that meets all its aims is at the heart of any successful development, but that’s often easier said than done.</p><p>In this TUD Plus Briefing, Fiducia’s development director Marie Doyle shares the process behind the Sydney-based developer’s latest project, The Harriette in Neutral Bay, on the city’s lower north shore.</p><p>In her presentation, as part of <em>The Urban Developer’s</em> <a href="https://the-urban-developer.myshopify.com/collections/on-demand-webinars/products/boutique-development-vsummit" data-mce-href="https://the-urban-developer.myshopify.com/collections/on-demand-webinars/products/boutique-development-vsummit" target="_blank" rel="noopener">Boutique Development vSummit</a>, Doyle, who is also a co-founder of Fiducia, said the process began by checking in with the firm’s mandate to ensure that it is a project “that's actually going to appeal to what we're doing and the broader market”.</p><p>“This particular site that we came across, which certainly was ready and ripe for that market … was a standout right-sizing project not to just for downsizers,” Doyle said.</p><p><span class="mce-preview-object mce-object-iframe" contenteditable="false" data-mce-object="iframe" data-mce-p-allowfullscreen="allowfullscreen" data-mce-p-src="https://www.youtube.com/embed/uaEu8644f3w?rel=0"><iframe src="https://www.youtube.com/embed/uaEu8644f3w?rel=0" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen" data-mce-src="https://www.youtube.com/embed/uaEu8644f3w?rel=0"></iframe><span class="mce-shim"></span></span></p><p>“That's been a phrase that's been thrown around quite a bit, but when we're looking at this kind of market, and this type of person, I think it really is about creating a product that is suitable and right for that person and that demographic at that point in time in their life.”</p><p>Doyle said the planning of The Harriette, meeting the needs of the people in which it was aimed—a high-end, medium-density scheme that worked in the established built environment—had been key.</p><p>“We really looked at the essence of what the area was what we thought people would want there,” she said.</p><p>“And you can see there that we've got beautiful art deco curves which has been taken from the heritage and art deco nature of the area … in part to conjure up some familiarity for people that wanted to move into that area or potentially stay in that area.”</p><hr><p><br><strong>You are currently experiencing <em>The Urban Developer</em> Plus (TUD+), our premium membership for property professionals.<a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"> Click here to learn more.</a><br></strong></p><div id="2GhuueZl01Zwo2aFfjNVi2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture><div><br></div></div><p><br></p>

Creating a development that exactly meets the projected needs of its targeted buyer takes vigilance and detailed planning, as Fiducia’s Marie Doyle outlines in this TUD Plus Briefing…

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<p>Where can the Australian property market go this year after 2021’s record year for sales and growth?</p><p>In this TUD Plus Briefing, taken from <em>The Urban Developer’s</em> Property and Economic Outlook 2022&nbsp;vSummit, Corelogic head of residential research Eliza Owen outlines the key factors that fuelled last year’s dramatic upsurge.</p><p>Owen said there were three key main levers: the cash rate, household savings, and pandemic-prompted government incentives.</p><div style="left: 0px; width: 100%; height: 0px; position: relative; padding-bottom: 56.25%; max-width: 650px;" contenteditable="false" data-ephox-embed-iri="https://youtu.be/0pK1yG7XZ0o?rel=0" data-mce-style="left: 0px; width: 100%; height: 0px; position: relative; padding-bottom: 56.25%; max-width: 650px;"><iframe style="top: 0; left: 0; width: 100%; height: 100%; position: absolute; border: 0;" src="https://www.youtube.com/embed/0pK1yG7XZ0o?rel=0" scrolling="no" allowfullscreen="allowfullscreen" data-mce-src="https://www.youtube.com/embed/0pK1yG7XZ0o?rel=0" data-mce-style="top: 0; left: 0; width: 100%; height: 100%; position: absolute; border: 0;"></iframe><span class="mce-shim" data-mce-bogus="1"></span></div><p><br></p><p>“Probably most key is the setting of the cash rate,” Owen said.</p><p>“Globally, we've seen a response from reserve banks and official cash rate reductions in order to stimulate economic activity and increase real estate activity and [the] wealth effect through an increase in asset prices.</p><p>“Essentially what happens is that whenever the banks put interest rates down, or the cash rate down, it leads to an increase in property prices.</p><p>“And bear in mind that also means that when we see an increase in the cash rate, it can lead to a decline in property prices.”</p><p>Owen said the effect of the <span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_44406288171646794974981" aria-invalid="spelling" data-mce-highlight-id="mce-cram_44406288171646794974981" data-mce-bogus="1" data-mce-annotation="RBA’s" data-mce-lingo="en_au">RBA’s</span> 65 basis point reduction in the cash rate could be seen in the cumulative growth in Australia's housing markets since the onset of <span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_23649031281646794974981" aria-invalid="spelling" data-mce-highlight-id="mce-cram_23649031281646794974981" data-mce-bogus="1" data-mce-annotation="Covid" data-mce-lingo="en_au">Covid</span>—about 25 per cent nationally.<br><br></p><hr><p><strong><br>You are currently experiencing <em>The Urban Developer</em> Plus (<span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_82883808251646794974655" aria-invalid="spelling" data-mce-highlight-id="mce-cram_82883808251646794974655" data-mce-bogus="1" data-mce-annotation="TUD" data-mce-lingo="en_au">TUD</span>+), our premium membership for property professionals.<a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"> Click here to learn more.</a></strong></p><div><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture><div><br></div></div><p><br></p>

A combination of factors driven by the pandemic lead to record property prices and transaction growth in Australia last year. In this TUD Plus Briefing, Corelogic's head of residential research Eliza Owen explains how it unfolded…

[+] Darwin surf hero web.jpg

<p>A bold new blueprint for Darwin’s waterfront has been unveiled with plans for Australia’s first saltwater surf park but minus the <span style="font-size: 12pt; font-family: 'Times New Roman';" data-mce-style="font-size: 12pt; font-family: 'Times New Roman';">“</span><span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_30431715361645753461888" aria-invalid="spelling" data-mce-highlight-id="mce-cram_30431715361645753461888" data-mce-bogus="1" data-mce-annotation="salties" data-mce-lingo="en_au">salties</span><span style="font-size: 12pt; font-family: 'Times New Roman';" data-mce-style="font-size: 12pt; font-family: 'Times New Roman';">”</span>—crocodiles, that is—as its centrepiece.&nbsp;</p><p>The $250-million <span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_60557479271645753461889" aria-invalid="spelling" data-mce-highlight-id="mce-cram_60557479271645753461889" data-mce-bogus="1" data-mce-annotation="masterplan" data-mce-lingo="en_au">masterplan</span>—about half of which is shovel-ready pending funding—is touted as the potential catalyst for a new era of tourism, development and population growth in the Northern Territory’s capital city.&nbsp;</p><p>Public and private <a data-mce-href="https://www.theurbandeveloper.com/articles/darwin-50bn-investment-city-transformation" href="https://www.theurbandeveloper.com/articles/darwin-50bn-investment-city-transformation">investment nudging $50 billion</a> is already driving infrastructure projects and urban development that has put the nation’s northernmost <span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_44159289081645753461890" aria-invalid="spelling" data-mce-highlight-id="mce-cram_44159289081645753461890" data-mce-bogus="1" data-mce-annotation="CBD" data-mce-lingo="en_au">CBD</span> on the cusp of a city-shaping transformation.&nbsp;&nbsp;&nbsp;</p><p>The state-owned Darwin Waterfront Corporation recently has taken the wraps off its own game-changing vision but to become a reality it will need a further $200 million in federal government funding.</p><p>It is seeking the backing through an extension of the Darwin City Deal, an historic agreement between three levels of government to revitalise the <span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_17970439991645753461891" aria-invalid="spelling" data-mce-highlight-id="mce-cram_17970439991645753461891" data-mce-bogus="1" data-mce-annotation="CBD" data-mce-lingo="en_au">CBD</span> with a new Charles Darwin University city campus as well as the redevelopment and "greening" of State Square to cater for outdoor events and festivals.</p><p>The Darwin waterfront vision is a major expansion and re-imagining of the existing&nbsp;precinct that currently includes a convention centre, aquatic and sporting facilities.</p><p>It involves the creation of a large and lushly landscaped central cove built around a new sustainably designed surf park—with talk of it being Australia’s first man-made break using saltwater—as well as a snorkelling and diving lagoon teeming with tropical fish and coral.&nbsp;</p><p>The masterplan also features 4000sq m of new swimming pools, 2.8ha of public parklands, adventure playgrounds, multipurpose spaces, hospitality facilities and the potential for an integrated resort-hotel. &nbsp;</p><div><picture><img src="//images.ctfassets.net/8pr762qjocl3/4eE9AeJTCz1IDBJnExQ2gj/63885c8ceb689a8edf8512b243e3347e/Mid_article_resizes.jpg" alt="Concept rendering of the surf park proposed for Darwin." data-mce-src="//images.ctfassets.net/8pr762qjocl3/4eE9AeJTCz1IDBJnExQ2gj/63885c8ceb689a8edf8512b243e3347e/Mid_article_resizes.jpg"></picture><div><span style="align-content: center; opacity: 0.8;" data-mce-style="align-content: center; opacity: 0.8;">▲ Concept rendering of the surf park proposed for Darwin.<br><br></span></div></div><p>“Large <span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_830556513161645753468420" aria-invalid="spelling" data-mce-highlight-id="mce-cram_830556513161645753468420" data-mce-bogus="1" data-mce-annotation="transformative" data-mce-lingo="en_au">transformative</span> concepts like this have the potential to literally change the face of our city, and change how both residents and tourists interact in the precinct and the city as a whole,” Urban Development Institute of Australia NT chief executive <span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_448904073171645753468420" aria-invalid="spelling" data-mce-highlight-id="mce-cram_448904073171645753468420" data-mce-bogus="1" data-mce-annotation="Catriona" data-mce-lingo="en_au">Catriona</span> <span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_572110438181645753468420" aria-invalid="spelling" data-mce-highlight-id="mce-cram_572110438181645753468420" data-mce-bogus="1" data-mce-annotation="Tatam" data-mce-lingo="en_au">Tatam</span> said.&nbsp;</p><p>“The economic flow-on effects of such a development would allow the NT to reap benefits for years to come.&nbsp;</p><p>“If the federal and territory governments are willing to financially back this project, it could be a game-changer for the vibrancy of Darwin.”&nbsp;</p><p>The design concept for the second stage of the Darwin waterfront precinct’s expansion has been two years in the making and started as a review of its existing aquatic facilities by Brisbane-based aquatic architecture specialist Liquid Blu.</p><p>Liquid Blu then partnered with another Queensland firm, urban planning and design consultancy Place Design Group, to create the concept for the central precinct <span class="mce-spellchecker-annotation mce-spellchecker-word mce-cram_240462053141645753467937" aria-invalid="spelling" data-mce-highlight-id="mce-cram_240462053141645753467937" data-mce-bogus="1" data-mce-annotation="masterplan" data-mce-lingo="en_au">masterplan</span>.</p><p>Place Design Group design director Clint Wood said the project team’s vision was to “deliver an authentic world-class destination unlike anything else seen before in Australia, integrating meaningful cultural and learning experiences”.&nbsp;</p><p>“We wanted to showcase the very best of the Northern Territory and capitalise on its outdoor tropical lifestyle, picturesque scenery, and cosmopolitan atmosphere,” he said.&nbsp;</p><div><div><div><picture><img src="//images.ctfassets.net/8pr762qjocl3/TQFPNa0HtBfScn21Mpr98/1c4acb017dbcd3b8d47a2fd74027f8d3/Untitled_design__20_.jpeg" alt="The plan is being lauded as a game-changer for Australia's most northern city." data-mce-src="//images.ctfassets.net/8pr762qjocl3/TQFPNa0HtBfScn21Mpr98/1c4acb017dbcd3b8d47a2fd74027f8d3/Untitled_design__20_.jpeg"></picture><div><span style="align-content: center; opacity: 0.8;" data-mce-style="align-content: center; opacity: 0.8;">▲ The plan is being lauded as a game-changer for Australia's most northern city.<br><br></span></div></div></div><p>Corals propagated both naturally and using 3D printing to replicate the intricate reef structure needed to foster new growth will be used in the planned tropical lagoon.&nbsp;<br></p></div><p>“This is the type of natural marine activity that exists off Darwin’s coast,”&nbsp;Darwin Waterfront Corporation general manager Sam Burke said.</p><p>“We’re a peninsula CBD and our connection to water is absolute—it’s all around us. But it’s not accessible to everyone given some of our native wildlife (crocodiles, sharks and stingers).&nbsp;</p><p>“Together with the world-class surfing facility it will unlock the city and its unique surrounds and climatic conditions to southern audiences and potential new residents to Darwin.”&nbsp;</p><p>Darwin’s waterfront precinct encompasses a former iron ore wharf facility as well as tidal mudflats and was a bombing target during World War II.&nbsp;</p><p>Burke said the waterfront vision “stacks up from an economic perspective” and, pending funding approval, was “ready to go”.&nbsp;</p><p>“Few opportunities exist to revolutionise the face of an Australian capital city in the way our masterplan can for Darwin,” he said.&nbsp;</p><p>“We’re basically doubling down on our existing investment to transform the precinct into something that will be nationally and globally competitive.&nbsp;</p><p>“Large parts of it are ready for early contractor involvement and it is more than 50 per cent detail designed.&nbsp;</p><div><div><div style="left: 0px; width: 100%; height: 0px; position: relative; padding-bottom: 56.25%; max-width: 650px;" contenteditable="false" data-ephox-embed-iri="https://www.youtube.com/embed/fsqfsDtXimY?rel=0" data-mce-style="left: 0px; width: 100%; height: 0px; position: relative; padding-bottom: 56.25%; max-width: 650px;"><iframe style="top: 0px; left: 0px; width: 100%; height: 100%; position: absolute; border: 0px;" src="https://www.youtube.com/embed/fsqfsDtXimY?rel=0" scrolling="no" allowfullscreen="allowfullscreen" data-mce-src="https://www.youtube.com/embed/fsqfsDtXimY?rel=0" data-mce-style="top: 0px; left: 0px; width: 100%; height: 100%; position: absolute; border: 0px;"></iframe><span class="mce-shim" data-mce-bogus="1"></span></div><p><br></p></div></div><p>“If we can get funding, we want to be turning soil this year and we see the entire central precinct vision being completed within about four years.”&nbsp;</p><p>Burke said if the vision for the waterfront development was realised it would also unlock an additional 10ha of harbour-front land with the potential of attracting circa $1 billion worth of private investment.&nbsp;</p><p>“Darwin is a fabulous tropical city but it is missing some essential ingredients and we think this will really tip it into a destination that will be firmly on people’s to-visit list. We think it’s a game-changer.”</p><p>Surf parks are an asset in the ascendancy with several in the works across Australia, including Sydney's first, which was <a data-mce-href="https://www.theurbandeveloper.com/articles/urbnsurf-sydney-wave-pool-olympic-park-approved" href="https://www.theurbandeveloper.com/articles/urbnsurf-sydney-wave-pool-olympic-park-approved" target="_blank" rel="noopener">recently approved for a site </a>at Olympic Park.</p><p>In Queensland, a proposal for a <a data-mce-href="https://www.theurbandeveloper.com/articles/sunshine-coast-approves-wave-park-development" href="https://www.theurbandeveloper.com/articles/sunshine-coast-approves-wave-park-development" target="_blank" rel="noopener">surf park on the Sunshine Coast</a> has been approved by the council, while on the Gold Coast a DA for a <a data-mce-href="https://www.theurbandeveloper.com/articles/plans-lodged-for-300m-gold-coast-surf-park-village" href="https://www.theurbandeveloper.com/articles/plans-lodged-for-300m-gold-coast-surf-park-village" target="_blank" rel="noopener">wave pool at Parkwood</a> has been filed.</p><hr><p><strong><br>You are currently experiencing <em>The Urban Developer</em> Plus (TUD+), our premium membership for property professionals.</strong><a href="https://www.theurbandeveloper.com/membership-plans" data-mce-href="https://www.theurbandeveloper.com/membership-plans"><strong> </strong><strong>Click here to learn more.</strong></a></p><div><picture><img src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg" alt="TUD + Banner" data-mce-src="//images.ctfassets.net/8pr762qjocl3/12UMq5eMSEOh0QxJVBYaDt/d7507cf4ceb1365cc9ce7eaff84d06cc/tud___banner.jpg"></picture></div>

A bold new blueprint for Darwin’s waterfront has been unveiled with plans for Australia’s first saltwater surf park but minus the ‘salties’—crocodiles, that is—as its centrepiece...

The longest escalators in the Southern Hemisphere have been unveiled as part of a $995-million renovation of Sydney’s Central Train Station. 

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>The longest escalators in the Southern Hemisphere have been unveiled as part of a $995-million renovation of Sydney’s Central Train Station. </p><p>The 45m-long escalators are two of 42 new escalators planned for Australia’s busiest railway station.</p><p>The upgrade also includes a new underground pedestrian link, Central Walk—an 80m-long concourse underneath platforms 16 to 23.</p><p>The project is well advanced with the new Metro platforms and underground cavern excavation completed.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><iframe sandbox="allow-forms allow-scripts allow-pointer-lock allow-same-origin allow-top-navigation allow-presentation" class="embed-responsive-item" allowfullscreen="" frameBorder="0" style="max-width:574px" width="100%" height="323" src="https://www.youtube.com/embed/u1-TkYuzjLY?rel=0"></iframe></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>“The upgrade to Central Station will create more than 5500 jobs over the four years of construction, and represents the biggest improvement to the station in decades,” NSW premier Dominic Perrotet said.</p><p>“This city-shaping work is an extraordinary engineering and construction accomplishment.</p><p>“We’re delivering this Metro rail station below the surface at Central, while existing train services continue above.” </p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>The first stage of the Central Walk concourse is due to open later this year along with new escalators and lifts from platforms 12 to 23.</p><p>”When complete, this underground link will make it easier for customers to connect with train, bus, light rail and metro services,” transport minister David Elliott said.</p><p>The station’s new Metro platforms will become operational once Sydney Metro City &amp; Southwest services begin in 2024.</p><p>The Central upgrade is part of the NSW government&#x27;s $108.5 billion public infrastructure pipeline to drive the state’s Covid recovery.</p></div></div></div></div></div>

The longest escalators in the Southern Hemisphere have been installed in Australia’s busiest train station as part of its $995-million transformation…

In this TUD Plus Briefing, Ironfish’s Grant Ryan looks at the year ahead for the off-the-plan sector and predicts what will be important for buyers in 2022

<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>Buyers of off-the-plan apartments are more sophisticated than ever, and developers may do well to heed that in a softening market.</p><p>In this TUD Plus Briefing, we speak to Grant Ryan, property director at Ironfish, one of Australia’s leading off-the-plan property investment selling agencies.</p><p>“One of the big themes we think for 2022 and as we move into 2023 is going to be affordable,” Ryan said.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><iframe sandbox="allow-forms allow-scripts allow-pointer-lock allow-same-origin allow-top-navigation allow-presentation" class="embed-responsive-item" allowfullscreen="" frameBorder="0" style="max-width:574px" width="100%" height="323" src="https://www.youtube.com/embed/s2dCfyJYo84"></iframe></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>“But affordability is bandied around a lot. I [prefer] the term value for money.</p><p>“I think buyers are now a lot smarter. Whether you’re an owner-occupier or an investor, they’re more astute and more educated about what they’re getting into. </p><p>“So, you can’t just throw in that private dining room and everything else and just try to match other things. </p><p>“They want projects with integrity with real design. They want a place that’s more of a community and that they can be larger projects, but that’s often harder to achieve with large projects.”</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><hr/></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>You are currently experiencing </strong><em><strong>The Urban Developer</strong></em><strong> Plus (TUD+), our premium membership for property professionals. </strong><a href="https://www.theurbandeveloper.com/membership-plans"><strong>Click here to learn more.</strong></a></p><p></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/4fb872c4-2507-449c-af93-4c928c2ed849.png" width="800"/></picture><div></div></div></div></div></div></div></div>

In this TUD Plus Briefing, Ironfish’s Grant Ryan looks at the year ahead for the off-the-plan sector and predicts what will be important for buyers

VIDEO