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Perth’s infill housing development is slowing, and the Property Council of Australia have said that it shows a need for regulatory reform.
According to the Property Council, reform is needed in regards to the introduction of community strata titles, to ease the process.
With infill development compared to the proportion of Perth’s urban fringe development dropping from 2011’s 32% to 28% in 2012, according to the Western Australian Planning Commission’s Urban Growth Monitor, Property Council of Australia executive director Joe Lenzo is calling for changes.
“Perth’s infill development strategy needs a shake-up, otherwise we will never achieve the 47% infill target in Perth’s strategic growth plan, Directions 2031,” said Lenzo.
“One of the main things holding back infill development in Perth is the outdated strata title system and the lack of community titles.”
He said that community titles would encourage larger scale precinct-style infill developments, alike to other Australian states.
“This includes more mixed use development around suburban centres and strategic infrastructure investments like train stations,” he said.
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jduke-EHk3XBmHkn

Perth strata reform called for by Property Council of Australia

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Brookfield Residential Properties’ Link at Portside Wharf has sold out after nine months of being on the market, with more than $13.5 million of apartments purchased.
Since launching to market, 32 one bedroom apartments spanning four levels have sold. Link will be completed by early-2015.
Link is the release in the retail and residential precinct at the Hamilton project Portside Wharf, with 522 square metres of retail space on the ground floor level.
Purchasers were mainly investors and first home buyers, according to Brookfield Residential Properties regional director Lee Butterworth.
"Link presented the perfect opportunity for entry level buyers to secure a spot at Portside Wharf and enjoy the luxury lifestyle that comes with living atop a lively retail precinct," said Butterworth.
"Savvy investors were also quick to move, snapping up the apartments in a matter of months to reap the financial benefits of providing renters a space with restaurants, boutique fashion and entertainment on their doorstep.”
Currently in Portside Wharf’s other projects, four apartments remain in the Promenade building, and the latest development Pinnacle is sitting at 60% sold. <a href="https://www.pinnacleportside.com.au" target="_blank">Pinnacle </a>is currently being built with construction due for early next year.
"Pinnacle is our premier residential development occupying a prime river fronting position with more than 70% of apartments boasting river views that can never be built out,” he said, with the development having reached $80 million in sales and having sold all of the one bedroom apartments.
A penthouse, six river terraces and a number of three bedroom and two bedroom apartments remain. Apartments are priced from $595,000.
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Nine months, $13.5 million worth of apartments: Portside Wharf’s Link sold out

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Melbourne-based developers R. Corporation have recently announced their eighth project. Called The Work, it is a West Brunswick offering spanning four buildings named after popular parks in the area.
One bedroom apartments in <a href="https://www.rcorporation.com.au/apartment/the-york-west-brunswick/" target="_blank">The York</a> will start from $379,500, with two bedrooms from $489,500.
There will also be some penthouses.
The 119 apartments will launch officially to the public on 18th October. When complete, the apartments will be located at 8 Olive York Way, West Brunswick.
Each apartment will include a private terrace or balcony, an individual car park, bike rack, separate storage, timber flooring and Bosch appliances.
Landscape designer Paul Bangay created the external design, providing communal gardens.
Sales manager Christopher Moreira said they have a proud heritage of iconic residential sites in Melbourne, “giving our buyers confidence that we are delivering another quality, well-designed address, in a unique and tightly held locale".
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New West Brunswick development The York, one bed units from $379,000

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In a move reminiscent of the recent HeForShe movement from the UN, popularised by Emma Watson, the Property Council of Australia (PCA) has formulated a group called Male Champions of Change (MCC) to push for gender equality in the property industry.
The Male Champions of Change has been around in Australia since 2010, established by Sex Discrimination Commissioner of the Australian Human Rights Commission Elizabeth Broderick – many years prior to the HeForShe movement. This is the first time the property industry is making a big push to get involved.
The founding Champions included Qantas chief executive and managing director Alan Joyce, ANZ chief executive Mike Smith, CBA chief executive Ian Narev, Telstra chief executive David Thodey and Prime Minister and Cabinet’s Ian Watt.
Former national president of the PCA Carol Schwartz will convene the MCC, which is expected to include senior leaders from development, construction, investment, funds management and agencies.
"All the research tells us that companies with gender diverse leadership teams show greater profitability and higher levels of innovation. It’s a testament to the Male Champions that they demonstrated leadership on this issue and have inspired others to do so," Schwartz said.
"Now it's the property industry's turn to influence this issue and really compete in the war for talent. Harnessing the talents of women has the potential to drive economic growth and prosperity and should be a national priority.”
She pointed to many initiatives that have taken place within the property industry, which will provide a foundation for the Champions’ charter and action plan.
Broderick said that women have been largely responsible for the gains made so far, but said that more is needed.
"Through the MCC strategy, men step up beside women and contribute their influence to accelerate this work and disrupt the status quo,” she said.
"I commend the Property Council for leading the change needed in the property industry, which is one of our country's largest employers.”
She has been seen tweeting and Facebooking her support for #HeForShe.
Current PCA chief executive Ken Morrison said that increasing the number of women in property leadership roles, and increasing the number of women attracted to work in the property industry, is important.
"The formation of the PMCC builds on the Property Council's diversity programs and we are excited to have Carol lead this extremely important group and help it create its foundation charter," Morrison said.
Joint managing director at Investa, Ming Long, was previously noted by Morrison for “her drive in taking the initiative to this point”.
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Male Champions of Change, the property industry’s HeForShe

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A new app is available for tenants in Western Australia, providing them reminders and information about their tenancy.
It also alerts them to if the landlord is breaking the law, explains Commerce Minister Michael Mischin.
“For example, if the date of a rent increase is less than 60 days from the date of written notification of an increase, or less than six months from the last increase, the app will warn users that this is not allowed,” he says.
“Similarly, if a landlord tries to schedule a home open for prospective tenants earlier than 21 days before the end of the tenancy, the app will let the user know they can’t do this. In many cases, tenants agree to unlawfully short notice periods for rent increases or routine inspections because they are unaware of their rights."
{qtube vid:=9SUbYjnvoTE}
The app helps tenants calculate the maximum monthly amount they may have to pay the landlord before moving in.
It gives them the capacity to save photos for the condition report, rental receipts and items that need repair.
“The app will set reminders for paying rent, routine inspections and giving proper notice before moving out,” Mischin says.
“Users can keep track of the constant payment deadlines, appointments and proper notice periods.  Whether you want to quickly find out about rent increases, getting your bond back or what to do with a breach notice, the app provides simple advice about it all.”
It will also note the end date of a periodic or fixed-term tenancy and home open dates and times for prospective buyers and tenants.
“The app not only informs users of their rights but helps them to keep good habits as well.  By reminding tenants to take photos at the start and end of the tenancy, there is less chance of a dispute over the return of the security bond.”
The app is called iRentWA.
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New app for WA tenants tells them if landlord breaks the law

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Over the September quarter, most of Australia’s capital cities recorded flat or falling rents for units and houses, according to the Domain Group Rental Price Series Quarterly Report.
The September quarter’s national median asking rent for units dropped 0.4%. However, this does bring it up 1.9% over the past 12 months.
A similar trend was seen for houses’ median asking rent, down 0.3% over the quarter and up 0.7% over the year.
Darwin’s house median asking rent over the quarter increased from $645 to $660 per week, bucking the trend.
Perth’s house rent dropped from $460 to $450 per week.
House rents across the other capitals were steady.
Meanwhile, units were more split, falling in Sydney, Perth and Canberra. Hobart, Melbourne, Adelaide and Darwin were all stable.
Brisbane saw a jump from $365 to $370.
Senior economist for Domain Group Andrew Wilson said that Brisbane’s unit rents and Darwin’s house rent were the only positive results.
“Unit rents weakened in Sydney over the September quarter, however, the median asking house rent remained steady at the June quarter’s record level of $510 per week despite record levels of investor activity in the local market. Although, we’ve seen a pause in rental growth over the September quarter, demand will continue to put upward pressure on rents in Sydney,” he said.
“In Sydney, yields are holding, asking rents are still strong and there is currently no signs of overshooting market fundamentals.”
Rental growth in Melbourne for houses and suburban units will also be impacted by demand drivers.
The other capitals are expected to move sideways as a best case scenario.
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Most capital cities’ rents falling or flat: Domain Group

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With the cash rate at a record low 2.5% and on hold, RateCity has found that the number of low deposit home loans on offer across Australia has reduced by more than 5% over the past year.
Low deposit home loans, which require savings of 5% of the property value or less for a deposit, account for 69% of the market, down from 73% in 2013.
RateCity product director Peter Arnold said that with the cheapest borrowing on record for over a year, the figures show that some borrowers are overstretching.
“So the banks are starting to take the reins on this matter and some are pulling in the belt before the regulators do,” said Arnold.
He expects the tightening up of lending criteria to continue.
“We see this as a good thing in terms of responsible lending, it means that borrowers, especially first home buyers, need to do the ground work and not borrow beyond their means,” he said.
On current available interest rates, with the average standard variable at 5.37%, a return to historical averages around 7% could see borrowers paying an extra $300 more per month on average and potentially more.
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Low deposit home loans have reduced by 5%

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Light and Co, a new apartment development from The Pradella Group, is currently being marketed through CBRE.
This is the first time properties in the project have been offered to market.
With previews available from this weekend, the Brisbane development at 321 Montague Road, <a href="/news">West End</a> offers one, two and three bedroom apartments from $395,000.
<a href="https://lightandcoapartments.com.au" target="_blank">Light and Co</a>'s name is a nod to the site’s earlier use as the heritage Gas and Light Company, and they have ROTHELOWMAN architects and LAT27 landscapers on board to bring the development into the modern day.
The development will include over 4,500 square metres of private landscaped gardens, plus recreation facilities and two pools. Barbecue facilities and entertainment areas will be created as communal amenities, while some apartments will feature private balconies.
Previews are from 11 October with an official launch in November.
In 2011, CBRE advertised 321 Montague Road as a development site. The 12,420 square metre site came with development approval for 423 apartments with a gross floor area of 35,127 square metres over seven levels and two levels of basement parking. An application for 495 apartments was being assessed.
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Light and Co apartments in Brisbane’s West End set for November launch

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There are eight regional cities expecting capital growth above double digits over the next three years, according to the Australian Housing Outlook 2014-2017 prepared by BIS Shrapnel for QBE.
The cities are located in New South Wales, Victoria and Brisbane.
Here are the markets QBE is tipping to grow:
New South Wales
Newcastle: Total price growth of 15% forecast for 2014/2015 and 2015/2016, accelerating in the latter year as affordability in Sydney becomes more challenging and outward migration picks up. Minimal increases expected in 2016/2017, resulting in total growth of 17% over the three year horizon.
Illawarra: The local rental market is tight, with vacancy rates low. Price growth is expected to be 7% per annum over 2014/2015 and 2015/2016, with rises around 1% in 2016/2017, to a total of 16% over the three years.
Victoria
Ballarat: With growth below that of Geelong and Bendigo over 2013/2014, population growth has remained strong and vacancies tight. Prices are expected to rise by a total of 11% in the three years to 2016/2017.
Bendigo: A strong economic environment and the new $600 million Bendigo hospital is underpinning employment. As a result, 6% growth is forecast over 2014/2-15, although a progressive slowing will then occur. As of June 2017, the three year growth is expected to total 10%.
Queensland
Gold Coast: A total 15% growth is forecast for the three years to 2016/2017. This is on the back of prices down 16% from peak in real terms as of June 2013. A pick up in the construction sector, and infrastructure will help underpin growth.
Sunshine Coast: A total 14% increase is expected over the three year period on the back of the Sunshine Coast University Hospital, and strong intrastate and interstate migration.
Townsville: Vacancy rates increased over the past 12 months, with the median price dropping by 1% due to the impact of fiscal consolidation on jobs. However, conditions are expected to improve to a total 10% growth over the three years.
Cairns: Showing signs of a recovery, vacancy rates have tightened with a lack of supply coming onto the market. The median house price has already seen a 10% gain, and can expect a further 14% over the next three years as the tourism sector strengthens.
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Double digit growth expected for Queensland coastal cities in the next three years

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The Housing Industry Association’s (HIA) latest Portrait of Australian Home Prices notes the number of investors in the market is being overstated by the reliance on home loan data.
Pointing to the Reserve Bank’s Financial Stability Review comments regarding the housing and mortgage market compositions “becoming unbalanced”, the HIA notes that the home loan breakdown points to 52.9% of owner occupiers and 47.1% of investors in the year to July 2014.
However, they say that this may not be painting an accurate picture of the numbers of owner occupier purchases.
“It is important to stress that this breakdown does not account for home purchases made without recourse to lenders,” the report notes.
They also explain that some investors purchasing with cash, and home purchases by those trading down and using their funds are missed out by the home loan radar.
“Consequently, it can be argued that a reliance on home loan data overestimates the proportion of home purchases conducted by investors.”
{mijopolls 50}
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Home loan data overstating investors in the market: HIA

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Jennifer Duke

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