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<h2>Analysis and Comment</h2>

Despite both the Federal Infrastructure Minister and Premier telling <a href="https://www.theage.com.au/politics/victoria/federal-money-talks-in-melbourne-transport-debate-20180515-p4zfgv">The Age</a> they were both committed to waiting for the outcome of the various studies business cases into new public transport links that were commited to as part of the budgetary process, the sniping and one-upmanship of both state and federal governments does not look like it'll end all that soon.

In the Federal Budget, $475 million was allocated in the forward estimates for a 'Monash Rail' project which has no link to any 'real' project other than the Rowville Rail concept which was studied under the previous state Liberal government.

Back in 2012 when the Napthine Government released the heavy rail network development plan, Melburnians got a glimpse into what the rail planners in the state government were thinking long-term for the city.

Since then many different rail projects have kicked off - mostly 2014 election promises by the Andrews Government - but there's been no effort to provide an updated bigger picture for public consumption by the current state government. 

That said, the Federal Government appears to be referencing the 2012 era plan with its surprise allocation of funds for what appears to be a first phase of the Rowville Rail concept.  

$475 million won't build 10+ kilometres of double track, 5-6 stations, a flying junction to connect to the Dandenong corridor or procure the vehicles to operate services.

In fact, for such a small amount, it's incredibly hard to see that amount of money building nothing more than an on-the-cheap flat rail junction at Huntingdale, maybe some elevated track down North Road with a station at Monash University.  If the state government were to match the amount, that might pay for a proper flying junction, a few new train sets and pay for the operations of the stub for a few years.

The biggest question mark hanging over this announceable from the Federal Government is how operations will work.  Where will these trains eventually run to?  Through the new metro tunnel?  Shuttle back and forth to Huntingdale, Oakleigh or Caulfield with some more track and platform investment?

For a while now there's been murmurings about the possible lack of capacity on the pair of tracks that will operate services from Pakenham and Cranbourne to Sunbury and Melton through the metro tunnel.  The 2012-era plans show both an Airport and Rowville branch hanging off this track pair as well.  And don't forget Gippsland V/Line services!

The 2012-era plans were created before the upswing in population growth in Melbourne and this is why it is in the public interest for an updated plan to be published, one which takes into account the high population growth scenario we're all living in.

It's a cruel (stupid?) reality of our Federation that we have overlapping departments which will have different ideas about transport infrastructure priorities and this cruelty/stupidity extends to Federal politicians who are able to <a href="http://minister.infrastructure.gov.au/pf/releases/2018/may/pf046_2018.aspx">advocate for things</a> which would clearly need to clear a swathe of hurdles that only the local state bureaucracy is going to be able to achieve.

In the state budget, $3 million was allocated to complete a business case for Spring Street's preferred light rail route from Caulfield to Monash and eventually to Rowville which presumably, taking into account recent reports, will also look at other rail solutions as well.

One of the main criticisms of the Rowville rail study from the Ballieu/Napthine era was its scope - it explicitly ruled out identifying other alignments such as joining the Alamein line to Oakleigh with a tunnel via Chadstone then branch out to Rowville along the North/Wellington Road corridor.  It follows that capacity constraints on the Pakenham/Cranbourne tracks are avoided as the line would be an extension of a branch which uses different track closer to the city.

We know that from the 2012-era plans the Alamein and Glen Waverley lines were envisaged to join up with western suburbs lines to create another east-west route through the city.  And given the Airport line is likely not going to be another branch of the Melbourne Metro and the Pakenham/Cranbourne to Melton/Sunbury line &amp; pair of tracks, adding a stub to Monash (and eventually Rowville) will create an imbalance.

So should the scope of the business case &amp; study that is looking at the costs and benefits of extending the Alamein line to Monash via Chadstone and Oakleigh/Huntingdale expand?  Well - if the Federal Government are dead keen on heavy rail, then yes.

Lead image credit: <a href="https://railgallery.wongm.com/melbourne-stations/F124_0657.jpg">Marcus Wong</a>.
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Alastair Taylor

Heavy rail 'between Monash University's campuses'? Hold your horses

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Melbourne's Docklands has hit a new milestone with over 1,000,000 square metres of commercial floor space either built or under construction.

The big numbers continue with 10,000 apartments having been completed or are under construction and 170,000 square metres of retail space as well as 60,000 square metres of hotel space having been delivered in the precinct.

Development Victoria expects the entire Docklands redevelopment zone to be 'complete' by 2025 whereupon it is expected 20,000 people will be living in the precinct, 60,000 people will be working there and all up, $17.5 billion worth of private investment will have been invested into the precinct.

<h2>What they say</h2>

<blockquote>
Development Victoria’s General Manager Precincts, Mr Simon Wilson, said the milestones highlighted how far Docklands had come, with approximately 13,000 residents currently calling Docklands home and 58,000 jobs created.  

“There is a real confidence in Docklands which is highlighted by the fact that many blue-chip companies have also moved their head office to the precinct,” he said.

“Construction is continuing on a range of commercial spaces such as Lendlease’s Melbourne Quarter, Walker Corporation’s Collins Square and the redevelopment of AsheMorgan’s The District Docklands.

“Docklands also sustains between 2,500 and 3,000 construction jobs annually.”
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/docklands_pano_1.jpg" rel="gallery-all" title="One million square metres of commercial space has either been completed or is under construction in Docklands - image: Development Victoria"><img alt="" class="image-article-full-width-580px" height="188" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/docklands_pano_1.jpg?itok=gMjP831q" title="One million square metres of commercial space has either been completed or is under construction in Docklands - image: Development Victoria" width="580"></a>

<figcaption>One million square metres of commercial space has either been completed or is under construction in Docklands - image: Development Victoria</figcaption></figure>The milestone has arrived at a time when the Minister for Planning, Richard Wynne, turned the first sod of soil at a new fresh food-focused precinct at The District, formerly known as Harbour Town Waterfront City.

The $67 million precinct, to be known as The Market, will be anchored by a Woolworths supermarket and include 25 fresh food and speciality shops.

"Docklands is fact becoming one of Melbourne's most popular places to live work or visit," the Planning Minister said.  "Major projects like these are a great way to attract more visitors and more families to live in the area."

The District Docklands - the rebranding and new focus - is an initiative of the Sydney-based Ashe Morgan retail investment and advisory group.

In the immediate vicinity of The District, <a href="/buildings/the-docklands-residences-3-43-waterfront-way-docklands">The Docklands Residences</a>, a residential and Marriot hotel development is currently progressing through a marketing campaign and <a href="/buildings/elm-stone-387-docklands-drive-docklands">387 Docklands Drive</a> is well under construction.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/docklands_district_redden.jpg" rel="gallery-all" title="Piling rigs in Docklands - image: redden"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/docklands_district_redden.jpg?itok=EmcMviwD" title="Piling rigs in Docklands - image: redden" width="580"></a>

<figcaption>Piling rigs in Docklands - image: <a href="/news">redden</a></figcaption></figure>Elsewhere in Docklands, work continues on projects such as 839 Collins Street, 1 Collins Wharf, Collins Square, and Melbourne Quarter.

To view a list of other Docklands project, click <a href="/new-apartments/docklands-vic-3008">here</a>.
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Docklands hits new a milestone while work starts on The Market

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Brisbane City Council has unveiled plans for a new bikeway that hangs above the Brisbane River in Indooroopilly, in inner south-west Brisbane.

The new bridge will provide cyclists and pedestrians with their own link between the Western Freeway bikeway, the Brisbane River Loop and the University of Queensland / St. Lucia bikeway via a bridge which will hug the western bank of the Brisbane River to the south west of the Indooropilly road, rail and pedestrian bridges.

A second phase bridge would then link the new phase 1 bridge and the existing pathways on the eastern side of the bride complex.

Phase 1 of the council initiative is part of a $100 million investment into cycling infrastructure that is to be spent over the 2016-2020 period in the Queensland capital.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/indro_bikeway_prelim_plan1.png" rel="gallery-all" title="Preliminary design for the new bridge plan - image: Brisbane City Council"><img alt="" class="image-article-full-width-580px" height="355" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/indro_bikeway_prelim_plan1.png?itok=ue4Ed1lc" title="Preliminary design for the new bridge plan - image: Brisbane City Council" width="580"></a>

<figcaption>Preliminary design for the new bridge plan - image: <a href="https://www.brisbane.qld.gov.au/traffic-transport/roads-infrastructure-bikeways/current-bikeway-pathway-projects/indooroopilly-bikeway-radnor-street-stage-1-project-indooroopilly">Brisbane City Council</a></figcaption></figure>According to the council, phase 2  will only happen through a separate funding arrangement.

The council focuses on connectivity in its list of benefits for the project.

<blockquote>
The project will benefit the community by:

<ul>
<li>creating a high quality, connected and accessible recreation and commuter route for residents of the western suburbs of Brisbane</li>
	<li>forming a key between the Western Freeway and The University of Queensland and connecting to the Brisbane River Loop bikeway</li>
	<li>encouraging  commuter and recreational walking and cycling</li>
	<li>enhancing lifestyle and leisure opportunities for residents in the area</li>
	<li>improving safety, connectivity and visibility for cyclists and pedestrians.</li>
</ul>
<a href="https://www.brisbane.qld.gov.au/traffic-transport/roads-infrastructure-bikeways/current-bikeway-pathway-projects/indooroopilly-bikeway-radnor-street-stage-1-project-indooroopilly"><cite>Brisbane City Council</cite></a>
</blockquote>

The preliminary design is now open for community consultation until Sunday 3rd of June.  Submissions can be made on <a href="https://yoursay.brisbane.qld.gov.au/IBS1">yoursay.brisbane.qld.gov.au</a> in writing or emailing the <a href="https://www.brisbane.qld.gov.au/traffic-transport/roads-infrastructure-bikeways/current-bikeway-pathway-projects/indooroopilly-bikeway-radnor-street-stage-1-project-indooroopilly">design team</a>.

Other bikeway projects that are focused on the Brisbane River include the <a href="https://www.brisbane.qld.gov.au/traffic-transport/roads-infrastructure-bikeways/current-bikeway-pathway-projects/botanic-gardens-riverwalk-project-alice-streetedward-street-brisbane-city">Botanic Gardens Riverwalk</a> project and the <a href="https://www.brisbane.qld.gov.au/traffic-transport/roads-infrastructure-bikeways/current-bikeway-pathway-projects/kangaroo-point-bikeway-upgrade-stage-1-goodwill-bridge-veloway-1-south-brisbane">Kangaroo Point Bikeway</a> upgrade.

Both projects aim will improve infrastructure for pedestrians and cyclists and in the case of the Kangaroo Point Bikeway upgrade, the enhancements will provide an expansion in an area the council deems to narrow to carry the high volume of commuting and recreational traffic that already exists.

To see all the Bikeway projects underway or at planning in the Queensland capital, see <a href="https://www.brisbane.qld.gov.au/traffic-transport/roads-infrastructure-bikeways/current-bikeway-pathway-projects">brisbane.qld.gov.au</a>.

Lead image credit: <a href="https://www.propertyobserver.com.au/https://yoursay.brisbane.qld.gov.au/IBS1/photos/44558">Brisbane City Council</a>.
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Brisbane City Council unveils Indooroopilly bikeway project

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Time for a quick stocktake.  As of the 14th of May, there were 1590 Melbourne projects on the project database with a total 145,694 dwellings contained within them.  

This represents an average of 91 units per project across metropolitan Melbourne.

In two and a half years the number of projects in Melbourne with 4 or less floors has doubled, and then some.  Back in November 2015, there were 208 projects with a floor count or 4 or less with a sum total of just over 7,000 dwellings.

Fast forward to today and there are 486 projects which have a total of just under 14,000 dwellings.  This represents a reduction in the average size of a project in 2015 with 33 apartments per project to 28 apartments per project in 2018.

The number of projects has more than doubled but the total number of dwellings is on 100% growth - in 2015 I only looked at up to 4 levels, however in hindsight I should have filtered out up to 3 levels as well because this average size reduction, I suspect, is linked to more and more projects that have been added to the database in areas which are zoned general residential (up to 3 levels in height).

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/inner-v-outer.png" rel="gallery-all" title="The number of projects and dwellings in inner Melbourne versus everywhere else"><img alt="" class="image-article-full-width-580px" height="430" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/inner-v-outer.png?itok=hm6L0kqZ" title="The number of projects and dwellings in inner Melbourne versus everywhere else" width="580"></a>

<figcaption>The number of projects and dwellings in inner Melbourne versus everywhere else</figcaption></figure>This lack of '<a href="/news/the-goldilocks-zone-well-represented-in-new-additions-to-the-project-database">Goldilocks zone</a>' type development in the middle and outer ring of Melbourne is often bemoaned by commentators yet 363 of the 486 up-to-4-level projects are outside the local government areas that are deemed inner city by Plan Melbourne.

The City of Melbourne, City of Yarra, City of Port Phillip are all part of the inner region as defined by Plan Melbourne.

Similarly, regardless of how many floors a project has, there are now 1143 projects outside the Plan Melbourne-defined inner city area with 68,386 dwellings across all of them.

While there is justifiably questions over what represents inner-Melbourne, using the regions from Plan Melbourne conform to local government areas - which is intrinsically linked to the development industry as the councils are the authorities, in most cases, who assess then either approve or reject projects in the overall pipeline.

For those interested in the numbers which relate to different floor heights across Melbourne, if we use 10 floors as an arbitrary cut off there are 461 projects  with 10 or more floors that include 99,874 dwellings right across metropolitan Melbourne.

Similarly, the number of projects which have between 5 and 9 floors weighs in at 633 and includes 32,149 dwellings.

Lead image credit: <a href="/new-apartments/the-queensbridge-building-southbank-90-queensbridge-street-southbank">88 Melbourne</a>.
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Stocktake: 1590 Melbourne projects on the project database

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Foxtel's Melbourne office in Moonee Ponds has been put up for sale by owner Charter Hall with the redevelopment opportunities for its adjacent car park featuring among the pluses highlighted in the marketing material for the site.

The sale transaction of the building which has just over 7,000 square metres of lettable area, all of which is leased to Foxtel, is jointly handled by Colliers International and CBRE.

The building recently completed a $1.5 million refurbishment programme which saw new end of trip facilities, upgraded bathrooms and carpets added to the building.

Trent Preece of Colliers International said the entire site, which is zoned with Moonee Valley's Activity Centre Zone 1, could see new residential or commercial development on or above the adjacent multi-level car park.

“There is potential for future residential development, or to build above the current multi-deck car park,” Mr Preece said. “The property, and any future development will also benefit from its location just 100m from Moonee Valley Racecourse which is about to undergo a $2billion re-development over the next decade providing 2,000-plus apartments plus entertainment, mixed use and world-famous racecourse hosting the Cox Plate."

“Given its favourable zoning and substantial street frontages, the property presents a genuine potential for future high-density development on the under-developed land component at the eastern end of the site as well as opportunities for constructing additional levels above the existing office building."

The expression of interest campaign ends this week on Wednesday at 2pm.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/moonee_valley.png" rel="gallery-all" title="Moonee Valley's vision has been released"><img alt="" class="image-article-full-width-580px" height="121" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/moonee_valley.png?itok=h16Zhdyc" title="Moonee Valley's vision has been released" width="580"></a>

<figcaption>Moonee Valley's <a href="https://www.thevalley.com.au/about/the-valley-tomorrow">vision</a> has been released</figcaption></figure>Moonee Ponds has featured many times on Apartments.com.au owing to the concentration of new projects in the pipeline in the area.

In November of last year, the Moonee Valley Racing Club released its updated vision for the racecourse &amp; surrounding land.  It included a clearer picture of how the equestrian and grandstand infrastructure will develop and the club announced it would be partnering with Hamton for the residential development component of the vision.

The only planning application to make its way on to the Moonee Valley City Council's website relates to repurposing the former Club's Secretary's house to a child care facility.

The largest project in the suburb is the redevelopment of the former Moonee Ponds market side by Caydon which recently saw one of its final stages launch its marketing campaign.  Some of the first apartments will transition out of construction soon - the two Hall Street towers are effectively structurally complete with internal work still progressing.

Furthermore, in February Apartments.com.au summarised the development pipeline for the suburb and since then we've spotted works starting on sites like <a href="/buildings/350-ascot-vale-road-moonee-ponds">350 Ascot Vale Road</a>, <a href="/buildings/editor-moonee-ponds-31-taylor-street-moonee-ponds">33 Hall Street</a> and pocket-rocket <a href="https://urban.melbourne/projects/moonee-valley/editor-moonee-ponds-31-taylor-street-moonee-ponds">Editor</a> on Taylor Street has flown up. 

In fact, the experience with the Editor project shows the value on '<a href="/news/the-goldilocks-zone-well-represented-in-new-additions-to-the-project-database">goldilocks</a><a href="https://urban.melbourne/development/2016/09/28/goldilocks-zone-well-represented-new-additions-project-database"> zone</a>' developments: they're very quick to build with construction crews only taking 4-5 months to go from street level to ultimate height on the Editor site.
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Foxtel's Moonee Ponds base up for sale

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The design of the new <a href="/developments/clayton-vic-3168">Victorian Heart Hospital</a> project has been unveiled and a builder has appointed to construct the project located within Monash University's Clayton campus.

The $543 million joint venture design from Brisbane-native firm Conrad Gargett and local outfit John Wardle Architects will be built by John Holland with works expected to commence by the end of the year.

As its name suggests, the hospital's focus is on cardiovascular health and will include 195 beds with the capacity to provide 2,000 cardiac surgeries each year, 13,5000 cardiac laboratory procedures and cater for 28,300 cardiac emergency presentations and 108,000 consultations.

The hospital will be endowed with TeleHealth facilities enabling remote specialist appointments for those living in regional Victoria to be conducted remotely, removing the need for long bouts of travel.

90% of the materials required to build the Monash Heart Hospital will be sourced from local industries and Spring Street expects 1,700 construction jobs will be created.  

“Our state is at the forefront of breakthroughs in treating heart disease. This hospital further cements our reputation as the world’s best and gives Victorian patients better access to the latest advances in cardiac care," the Minister for Health, Jill Hennessy said.

The hospital is expected to be operational by mid-2022 according to the <a href="https://vhhsba.vic.gov.au/health-infrastructure/victorian-heart-hospital">Victorian Health and Human Services Building Authority</a> (VHHSBA).

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/vic_heart_hospital1.jpg" rel="gallery-all" title="Exterior render of the new Victorian Heart Hospital - image: VHHSBA"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/vic_heart_hospital1.jpg?itok=ZnfYX3SC" title="Exterior render of the new Victorian Heart Hospital - image: VHHSBA" width="580"></a>

<figcaption>Exterior render of the new Victorian Heart Hospital - image: <a href="https://vhhsba.vic.gov.au/health-infrastructure/victorian-heart-hospital">VHHSBA</a></figcaption></figure>Elsewhere another Monash Health hospital is currently being expanded.  Casey Hospital located near Berwick Station is expanding with the addition of 160 new beds which consist of 128 multiday patient beds, an intensive care unit of 12 beds and a day surgery unit with 12 beds.

6 new operating theatres, refurbishment and expansion works of pharmacy, pathology, and back of house facilities along with new teaching and training facilities which will be operated by Monash University are also included in the expansion project.

The Casey Hospital expansion is happening at the same time as the move of the local St John of God private hospital's from Gloucester Avenue to a site opposite Casey Hospital on Kangan Drive in the heart of the Berwick Station, Health and Education precinct that includes a campus of Chisholm Institute and former Monash University and now Federation University campus.

The Casey Hospital expansion project is being carried out under the terms of the original public private partnership and the hospital will revert to State Government hands in 2029, as originally planned according to the VHHSBA.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/casey_hospital_expansion.jpg" rel="gallery-all" title="Render of the Casey Hospital expansion - image: VHHSBA"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/casey_hospital_expansion.jpg?itok=1VqYQ7MR" title="Render of the Casey Hospital expansion - image: VHHSBA" width="580"></a>

<figcaption>Render of the Casey Hospital expansion - image: <a href="https://vhhsba.vic.gov.au/health-infrastructure/casey-hospital-expansion-project">VHHSBA</a></figcaption></figure>
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John Holland to build the new Victorian Heart Hospital

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<h2>Comment</h2>

It's now quite obvious why Tuesday's budget speech had effectively every infrastructure initiative announced well before the Treasurer's speech - the Turnbull Government wanted everyone to focus on its 'surprise!' tax cut plan.

All of the infrastructure items in the Federal Government's 2018/2019 budget were announced before Scott Morrison rose to the despatch box in Canberra on Tuesday night - the biggest item out of all of them, the $5 billion for the Melbourne Airport Rail Link was announced at a media conference by the Prime Minister and Treasurer back in mid April.

In the context of the ongoing argy-bargy between the State and Federal Governments, it's been a case of 'will there be more information, other than a nice big dollar figure, disclosed at any time soon?' ever since.

We have our answer now: no there wasn't, but yes there will be.

It's toward the end of the year, in September, two months before the state election and about the time Turnbull will be seriously thinking about when he'll call his own next election, that we're likely to see something other than big dollar headlines.

We're all just going to have to deal with the fact that public transport initiatives get planning money while big-arse freeway projects get the capital they need before anyone can do a sane comparison of options.  Australian politics &amp; infrastructure planning, eat your heart out.

There will be an enormous amount of time devoted to the Federal Government's 7-year plan to flatten the tax system &amp; the ALP's opposing policy in the days and weeks ahead but it would be nice if a smidgen of the forthcoming public debate focuses on the implications for infrastructure projects.

It's pretty hard not to get swept up in the pre-budget announcements about headline dollar figures on what's going to be allocated.  Guilty as charged!  But it's when the budget documents get released and the lack of any clarifying information in the respective treasurer's speeches that depression starts to set in.

It doesn't surprise anyone that when both major parties are in office at either the state or federal level that there's argy-bargy, but now that elections are around the corner, suddenly the purse strings are loosened.

Victoria has for the last three to four years been way out in front in terms of population growth because Western Australia and Queensland's economies have been in a post-mining boom toilet. 

Whether predictions for Melbourne's population growth come to fruition remains to be seen however imagine if Melbourne's population kept on growing around the 100,000 per annum mark for the next 7-10 years when, potentially, a massive Federal Government revenue shortfall kicks in?

Here's something else to ponder.

Look at the time it takes to get a major public transport project implemented - the first Metro tunnel project will probably take, from start to finish, 10 years.  What's Malcolm Turnbull and Scott Morrison, the holders of the biggest purse strings in the nation, just announced in the budget?  Huge tax cuts over the 7 years - $140 billion in revenue we might be able to use to transform our cities, gone.

So does that mean Spring Street - or any other state government for that matter - now have to factor in less grant money flowing from Canberra?  What's the impact on infrastructure projects long-term? 

Taking the layman approach: less money coming in via taxes means cutbacks will happen in services, and new infrastructure, unless 'creative' new financing options are created.

When it comes to building the transport infrastructure fast growing cities will need over the next decade, the Turnbull Government's plan to reduce Commonwealth revenue should be interpreted like a giant air raid siren with flashing red lights going off.
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Cutting tax revenue over the next 7 years could spell a worrisome infrastructure finance deficit

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The owners of the site with a permit to build the 55 Clarke Street project have put the site up for sale through Colliers International.

<a href="/news/51-65-clarke-street-shapes-as-a-southbank-tower-with-a-twist">In 2016 when we profiled the project</a>, the 1,787 square metre site originally had a proposal for 73 levels that included 112 hotel suites and 512 apartments across all three main apartment configurations.

Developer Newcity Group also engaged Ellenberg Fraser to design a tower that also included 120 car spaces and 327 bike spaces.

Fast forward and the project that was eventually approved was chopped down to 69 levels that included 565 apartments, 653 square metres of office space and a further 462 square metres of retail space.

Approval for the project occurred prior to the new floor-space ratios that are now governing new proposals on land which has a Capital City Zone in Central Melbourne with marketing material for the sale of the site with a permit referencing the 'unrepeatable' 30:1 FSR.

<a href="https://goo.gl/maps/zz7JzUpRRAR2">The site</a> sits one block back from City Road and has three frontages to Clarke, Hancock and Catherine Streets in Southbank.  Its nearest neighbours include recent developments such as Salvo's Platinum, 283 City Road and the 2013-era Habitat at 58 Clarke Street.

<h2>What they say</h2>

<blockquote>
Conveniently located in one of Melbourne’s most proven apartment market’s 55 Clarke Street features an approved planning permit to deliver one of Melbourne’s most impressive towers.

At 69 levels, the Elenberg Fraser design comprising a range of 1, 2, and 3 bedroom apartments featuring spectacular views over Port Philip Bay, Melbourne CBD and Albert Park Lake.

With a prime position located in between Melbourne CBD, and South Melbourne 55 Clarke Street will afford its future residents easy access to public transport, retail amenity, along with the arts and sporting precincts providing a dynamic and exciting lifestyle in the world’s most liveable city. 
<a href="http://www.colliers.com.au/206929/"><cite>Colliers International</cite></a>
</blockquote>

Trent Hobart, Bryson Cameron and Jun Lai of Colliers International have been appointed to sell 55 Clarke Street.

"55 Clarke Street represents an exceptional development site for connected inner city living, located in the middle of the South Melbourne lifestyle precinct, the Melbourne CBD and Crown Casino entertainment complex and the Melbourne Arts precincts, in what is considered the ultimate location for connected living,” Trent Hobart, Residential Director at Colliers International, said.

Bryson Cameron added “there is over $7 billion worth of private and public infrastructure investment within Southbank's future supply pipeline through to 2021. This includes a combination of commercial and mixed-use projects adding to the public amenity and fuelling local employment." 

The sale of 55 Clarke Street is by expression of interest which closes at 2pm on June 13th.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/55_clarke.png" rel="gallery-all" title="The 55 Clarke Street project render from the street - image: Colliers"><img alt="" class="image-article-full-width-580px" height="425" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/55_clarke.png?itok=xXGYYG8c" title="The 55 Clarke Street project render from the street - image: Colliers" width="580"></a>

<figcaption>The 55 Clarke Street project render from the street - image: Colliers</figcaption></figure>
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A Southbank super site goes to market

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Spring Street has announced a new wave of tram stop upgrades which will see $19 million spent on upgrading stops in both the north and south of the city's network.

6 stops between Victoria Parade and Kerr Street along Nicholson Street in Carlton/Fitzroy will be upgraded with centre island platforms.  The #96 East Brunswick - St Kilda Beach route is now 100% operated by low-floor E-class trams.

Special attention will be given to the tram stop opposite Melbourne Museum and the Royal Exhibition building to enable all passengers between the stop and the Carlton Gardens safely and easily.

The Minister for Public Transport Jacinta Allan said that Melbourne had a fleet of 163 low floor trams and "more than 420 raised stops on the network and we will continue to introduce new trams and stops to make our network more accessible ."  Work on the northern section of the #96 route will begin later in the year.

From mid-2019 onwards works to improve interchange between trains at Flagstaff station and William / La Trobe street trams will kick off and the William Street stops at the corner of Bourke &amp; William Street will be upgrade to match the accessible stops in Bourke Street.

The #58 West Coburg - Toorak route runs past the Royal Children's, Royal Women's and Royal Melbourne Hospitals and began seeing D-class low-floor trams operate some services in 2017.  The older Z-Class and B-Class non-low floor trams, also operate on the #58.

Balaclava station will also see new accessible stops created on Carlisle Street to improve accessibility at the interchange with the #3 tram and Sandringham line trains and the Bundoora RMIT stop on the #86 will also be upgraded.

According to a Spring Street media release, 63 next generation low-floor E-Class trams are now operating on the network with another 17 to be manufactured at Bombardier's facility in Dandenong.

The State Government has also announced the free tram zone's geographic reach will be extended temporarily to help with moving people to major events while various construction blitzs are underway.

On the weekends from the 2nd of June to the 17th of June, while the construction blitz previously announced for the Dandenong line is underway, the free tram zone will be extended to the various stops on Wellington Parade adjacent to the MCG.

Buses will be replacing trains between Caulfield and Westall as works on the level crossing removal projects in the area are finalised. Caulfield junction will see major signalling work completed during the shutdown period.

The entire Gippsland V/Line train service will be replaced with Coaches.

The temporary extension will be in operation for the NRL State of Origin match to be played on Wednesday 6th of June and the Queen's birthday match of Collingwood and Melbourne at the MCG.

The State Government has rolled out a new website where users can enter their postcode and be provided with a map &amp; summary of all transport network disruptions. 

 

See <a href="https://bigbuild.vic.gov.au">bigbuild.vic.gov.au</a> for more information.
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Number of accessible trams stops to rise across Melbourne's tram network 

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The approval by the New South Wales planning department last week of an unsolicited proposal by the Sydney born-and-bred Macquarie Bank has provoked a rebuke from the City of Sydney via the Lord Mayor, Clover Moore, and highlighted council concerns that decades-old planning work to ensure Sydney CBD's streets have maximum natural light penetration are in jeopardy.

Martin Place has for many years had controls that maximise sunlight in the former east-west street as evidenced by the shape of skyscrapers proposed and built on the northern side - Angel Place's sloped roof and the tiers of Deutsche Bank place &amp; its lattice structure are prime examples.

The overall proposal, which still has a few planning hurdles to overcome, includes the recently renovated 1920s-era  50 Martin Place which currently holds Macquarie Bank's headquarters, a 'north' tower located next door to 50 Martin Place (bounded by Castlereagh, Elizabeth and Hunter Streets) and a 'south' tower opposite the bank's headquarters with frontages to Castlereagh &amp; Elizabeth Streets and Martin Place).

The redevelopment will include building the platforms for the new Sydney Metro City &amp; South West, new entrances and interchange infrastructure with the existing Eastern Suburbs railway line underground.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/martin_place_components1.png" rel="gallery-all" title="The various components of the proposal - image: Urban Design Report"><img alt="" class="image-article-full-width-580px" height="605" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/martin_place_components1.png?itok=GgNP35S9" title="The various components of the proposal - image: Urban Design Report" width="580"></a>

<figcaption>The various components of the proposal - image: <a href="https://majorprojects.accelo.com/public/e1582925ebe3ed186308002054aa6b0f/Appendix%20A_%20Urban%20Design%20Report.pdf">Urban Design Report</a></figcaption></figure>The primary issue the City of Sydney's Lord Mayor went to twitter to say was the tower to the south of Martin Place did not meet the setback conditions (25 metres) set out decades ago to protect pedestrian amenity in the area.

"We need the NSW Government to put the public's interest first here, not Macquarie Bank's, &amp; protect Martin Place into the future, as we've protected it for a quarter of a century", Clover Moore, Lord Mayor of Sydney said on twitter.

In a long tweet thread, the Lord Mayor continued: "25 years ago, Heritage Council, New South Wales Depart of Planning and the City of Sydney developed controls requiring towers over 55m to be set back 25m to reduce impact on the public domain in Martin Place, reduce the impact of wind on pedestrians and enable adequate sunshine."

<blockquote class="twitter-tweet" data-lang="en">
But now Macquarie Bank comes forward with an unsolicited proposal, which means it doesn't go through the proper planning processes and controls that other developers have faced in Martin Place
— Clover Moore (@CloverMoore) <a href="https://www.propertyobserver.com.au/https://twitter.com/CloverMoore/status/993282046251298817?ref_src=twsrc%5Etfw">May 7, 2018</a>
</blockquote>

The predominantly Sydney-based developer lobby group, Urban Taskforce Australia, added its own voice on Monday calling the approval of a new tower over the future Martin Place metro station a good balanced solution.

“It is important that the NSW Government works with the private sector in rolling out new metro rail lines and stations and the proposal for the Martin Place station is an excellent example of this.” Says Urban Taskforce CEO Chris Johnson “The final setback above a podium of 8 metres maintains the character of Martin Place while allowing a commercial tower to be built over the podium but set back by 8 metres .”

“The City of Sydney have raised concerns that a set-back of 25 metres would have been preferable but their comments do not take into account that the adjacent MLC Centre tower is set back far more than this. The proposed tower is well away from the Cenotaph down the far end of Martin Place and is more contextually related to the Reserve Bank building at the top of Martin Place.”

The proposal is now has a Stage 3 status as part of the <a href="https://www.nsw.gov.au/contact-us/unsolicited-proposals/">NSW Government's unsolicited proposals</a> process.

Lead image credit: <a href="https://www.macquarie.com/au/about/newsroom/2017/stage-three-martin-place-development-proposal">Macquarie</a>.
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Part approval for Macquarie Bank's unsolicited proposal in Martin Place irks City of Sydney

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Joel Robinson

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Alastair Taylor

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