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Lend Lease's Toorak Park development set to launch in Armadale
<a href="https://www.toorakpark.com" target="_blank">A luxury residential apartment development </a>named Toorak Park is coming to Melbourne's Armadale.
The 2.5 hectare site beside Toorak Park will hold 448 apartments and 18 townhouses, designed by Denton Corker Marshall and Carr Design Group. The 16 building project, developed by Lend Lease, will feature landscape architecture by Tract, with open space making up a third of the project.
According to Denton Corker Marshall director John Denton, the practice took its cues from its local surroundings.
"We looked at the Beatty Avenue shops on one side of the lines and saw we could create a place with its own character on the other side," Denton said.
"We wanted to build a village within a village.
"We sought to open up access to the railway station and Beatty Avenue from Orrong Road by creating a central boulevard that is, in effect, a new leafy road in Armadale. The newest area in the neighbourhood will connect with one of the oldest."
The Toorak Park project will include a publicly accessible boulevard with direct access to Toorak railway station.
Lend Lease's national head of Apartments Ben Christie said the site was one of the best qualities of the project.
"Toorak Park is in a fantastic location, where residents can enjoy the local amenities, transport or proximity to the city," said Christie.
"It's also one of the few blue-chip inner-city suburbs in Melbourne where people can live in the heart of a vibrant community but still enjoy a relaxed suburban lifestyle where locals know their name."
One, two and three bedroom apartments are available. One bedroom apartments will range from 55 square metres to 88 square metres, two bedroom apartments are sized from 75 square metres to 107 square metres, and three bedroom apartments range from 115 square metres to 148 square metres.
Toorak Park will have a bluestoned plaza with a convenience store and cafe, as well as communal gardens.
The $500 million project has reportedly faced opposition from the local council and community since the site was purchased in 2009, with a legal battle in the Supreme Court of Victoria, reports the <a href="https://www.afr.com/p/business/property/lend_lease_battle_launch_ritzy_armadale_FbvzOfhAgJ5nz0K1ecJpdJ" target="_blank">Australian Financial Review.</a>
The project is expected to be completed in 2018, with a display suite opening in late March.
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jrichardson-uRX5hFdKfN

Lend Lease's Toorak Park project coming to Armadale

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Capital city first home buyers are boosting approvals for townhouses, units and semi-detached homes, according to Bankwest.
Bankwest's Housing Density Report showed that while medium density housing approvals as a proportion of total dwelling approvals was down slightly in the past year – 43% in 2014, compared to 44% in 2013 – approvals for the homes are trending upwards and approaching record levels. In the 12 months to November 2014, 85,323 medium density homes were approved.
In New South Wales, the Northern Territory and the Australian Capital Territory, townhouse, unit and semi-detached homes made up the majority of approvals in the year to November 2014. In Western Australia, less than 25% of housing approvals were for medium density homes.
<img src="/images/2015/02/26/Picture%2014.png" alt="">
The category's approvals overtook house approvals in 30.4% of all Australian local government areas in that time.
Unsurprisingly, the growth in medium density housing was concentrated in capital cities. Bankwest executive general manager of Retail, Andrew Whitechurch, said last year almost nine out of 10 approvals for medium density dwellings were in capital cities.
"This is a marked increase from 2011, when the Census revealed capital cities accounted for only 76% of all medium density dwellings," said Whitechurch.
According to Bankwest's report, 88.2% of medium density approvals were for capital city homes. The concentration around capital cities was most pronounced in South Australia, Victoria and Western Australia.
"The number of medium density housing approvals has increased in five out of the eight capital cities in the 12 months to November last year," Whitechurch said.
"Perth experienced the largest increase, with approvals growing by 43.7%.
"Brisbane and Melbourne also saw double digit increases (23.1% and 18.9% respectively), followed by Adelaide (8.9%). Approval figures in Sydney have remained stable with a 0.4% increase."
<img src="/images/2015/02/26/Picture%2013.png" alt="">
Considering medium density housing as a proportion of total approvals, Brisbane is seeing the quickest escalation in housing density of any capital city. There, the proportion of medium density housing approvals increased by 33.7 percentage points between 2011 and 2014. Bankwest attributes Greater Brisbane's share of medium density approvals in part to apartments, townhouses and units in the Gold Coast and Sunshine Coast.
Canberra saw the second highest increase in medium density housing as a proportion of total approvals, with a 27.7 percentage point increase in the three year period. The increase has been in part due to the ACT's Tuggeranong, where housing density is increasing faster than in any other local area (as defined by the Australian Bureau of Statistics). Between 2011 and 2014, the proportion of medium density approvals has jumped 64.2 percentage points, to 79%.
While almost all the capital cities saw an increase in the proportion of medium density approvals, Hobart bucked the trend, with the proportion of medium density housing decreasing by 8.6 percentage points in the same period.
Whitechurch said first home buyers are likely to be driving the demand for medium density housing as they seek out more affordable housing options.
"Bankwest's First Time Buyer Deposit Report, released in December last year, showed that  units are considerably more affordable, taking the average first time buyer couple 3.3 years to save a 20% deposit on a median-priced unit in an Australian capital city compared to 4.1 years to save for a stand-alone home," he said.
He also cited population growth as a key driver for medium density housing supply.
"Increasing competition for housing and higher prices will no doubt lead to further growth in medium density housing approvals in the future," said Whitechurch.
"Despite this ever-emerging trend, the growth in approvals for stand-alone houses outpaced medium density home approvals in the year to November 2014 (14.9% growth compared to 10.2% growth)."
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Capital cities driving medium density approvals: Bankwest

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Darwin's property market hasn't quite found the bottom of the cycle yet, according to SQM Research's Louis Christopher.
In a recent newsletter, he wrote that the market, which is in a "full blown slump" is seeing negativity which has been "getting worse".
Over the summer period, Christopher noted that vacancy rates continued to rise, with rents trending downwards (see below). In November, he described the city's increasing vacancies as <a href="/expert-insights/buying/perth-and-darwins-vacancy-increases-alarming-sqm-research">"alarming"</a>.
<img src="/images/2015/02/26/Picture%202.png" alt="">
<img src="/images/2015/02/26/Picture%207.png" alt="">
<img src="/images/2015/02/26/Picture%2011.png" alt="">
In the past, Christopher has described Darwin as a "shallow" housing market, with relatively small market volumes allowing for increased price fluctuation.
"Right now its swinging south, primarily due to the commodities downturn", wrote Christopher in January, with no indication that the market's descent would stop soon. Mineral mining is a major economic driver for Northern Territory capital.
Stock on the market in Darwin has been trending upwards since late 2012.
<img src="/images/2015/02/26/Picture%2011.png" alt="">
In January, SQM Research recorded a <a href="/expert-insights/buying/property-listings-increase-over-january-sqm-research">34.2% increase in Darwin listings</a> from the previous year.
<img src="/images/2015/02/09/sqm-feb-9-one.jpg" alt="">
Source: SQM Research
The research firm has also recorded a decrease in asking prices over the past 12 months. Houses saw a 0.5% drop in asking prices, while the downturn was more pronounced in the unit market: unit asking prices were down 5.9% over the year. <a href="https://%20http:/www.realestate.com.au/property-unit-nt-brinkin-414327211" target="_blank"></a>
<a href="https://%20http:/www.realestate.com.au/property-unit-nt-brinkin-414327211" target="_blank">A Brinkin apartment</a> has failed to attract the attention of renters, despite numerous discounts. The air-conditioned, tiled unit pictured below was advertised to rent at $520 per week in April last year.
<img src="/images/2015/02/26/brinkin.jpg" alt="">
In November, the asking rent was lowered to $480 per week. Earlier this year, the landlords were asking for $460 per week - a 11.5% drop in less than a year.
If the landlords, who paid $143,000 for the unit in 2005, manage to secure a tenant at the current asking rent, it will have a rental yield of 16.5%. Similarly, the owners of <a href="https://www.realestate.com.au/property-house-nt-leanyer-414920111" target="_blank">36 Hotham Court in Leanyer</a> have decreased the asking rent for the three bedroom, two bathroom house. In the last month, the asking rent has dropped from $600 per week to $550 per week. The investor owners purchased the home for $532,000 in 2008.
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Darwin's full blown slump is getting worse: Louis Christopher

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Last year, the Gladstone property market was frequently wheeled out as yet another commodity-linked decline story.
After peaking in 2011 the port town's property market saw climbing vacancy rates and rental falls, leading to some claiming that Gladstone was <a href="/news/is-the-gladstone-market-positioned-to-crash">"positioned to crash"</a>.
In June 2014, Terry Ryder wrote that <a href="/news/qld/the-worst-is-yet-to-come-for-gladstone">"the worst is yet to come for Gladstone"</a>, with three big gas projects to wind up eventually. He cautioned readers then not to buy into media hype around the town, with some claiming that the market had stabilised.
Indeed, the Real Estate Institute of Queensland (REIQ) still termed Gladstone's vacancy rate of 4.2% "weak" in its September 2014 quarter report, although it noted that residential vacancy rates are trending downwards.
REIQ chief executive Antonia Mercorella said the latest Residential Rental Survey showed that "median rents in Gladstone and Mackay continue to ease". The survey recorded a 4.1% decline in Gladstone's median house price for the September quarter, to $374,000.
The market's downturn was attributed in part to an oversupply of housing, thanks to developers chasing incoming QGC workers who were then shifted to accommodation on Curtis Island. But the property market's results were not quarantined to the housing market, with some noting a reflection in the performance of commercial properties.
Last month, REIQ Gladstone chairman Mark Spearing wrote in <a href="https://www.gladstoneobserver.com.au/news/residents-cautious-as-tough-business-conditions/2541550/" target="_blank">The Gladstone Observer</a> that "the feel locally is that business in general is very tough and the cost of business is affecting employment", noting a downturn in confidence.
"Our latest commercial property figures confirm this as there are several vacant commercial spaces around town," wrote Spearing.
"Have we conceivably transitioned from an overpriced market to an undervalued one in super-fast time? Time will tell."
While many agree that the property market was over-valued a few years ago, some, like Commercial Property Specialist Dale Ware of Ray White Gladstone, say the "doom and gloom" headlines are unwarranted.
"There's a lot of doom and gloom about the construction phase of the gas projects coming to an end," Ware tells Property Observer.
"Yes, one of the plants is winding down, but two are nowhere near finished, and probably have another 12 months to go."
He notes that some level of market fluctuation is typical for Gladstone, and that in his 35 years of business in the town, he's seen the market go quiet, only to "go crazy again" a few weeks later.
"That's what Gladstone's about."
Ware believes that Gladstone's reputation is in part due to some associating the town with the mining industry.
"We're not a mining town at all. We're a port more than anything," says Ware.
"We export aluminium, grain, coal, power and gas. Even though we're linked to the mining industry, we're not a mining town."
Ware comments that coal mining towns further west like Emerald and Blackwater are experiencing a worse downturn than Gladstone.
"We're alright. It's just that two years ago, we had an enormous boom.
"We've come off that high, and everyone thinks they've had their throats cut." He notes that Gladstone's market was only at its recent peak "for 18 months or so".
He also notes that while rents are "coming down a little bit", he doesn't believe there's been any large increase in the number of vacant commercial properties.
"I've done probably six leases in the last six weeks, which is probably three times what we were doing last year", says Ware. He predicts that when, in September, the Curtis Island workers camps are dismantled, work will be created. That will impact the commercial property space, says Ware, with an increased need for storage space.
This retail and office space at <a href="https://www.realcommercial.com.au/property-retail-qld-gladstone+central-501473747" target="_blank">91 Goondoon Street</a> in Gladstone Central is currently listed to rent at $32,800 per annum, or just over $135 per square metre, per year.
<img src="/images/2015/03/04/gladstoen-mar-4-one.jpg" alt="">
An industrial and warehouse space in Gladstone Central, <a href="https://www.realcommercial.com.au/property-industrial+warehouse-qld-gladstone+central-500371535" target="_blank">at 1/4 Roseanna Street</a>, is available for $1,600 (plus GST) per month, equating to $218 per square metre, per year.
<img src="/images/2015/03/04/gladstoen-mar-4-two.jpg" alt="">
In his investor warning last year, Ryder wrote that despite its price volatility, Gladstone has a "huge future" as "Australia's leading industrial city".
Ware believes the mix of industries in Gladstone means the market won't stay down.
"We've got powerstations, aluminimum plants, a smelter, the gas, [ammonium nitrate producer] Orica, the coal, the port, the grain – they can't all be quiet at once.
"To succeed in business you've got to be diverse. And Gladstone's diverse", says Ware.
Picture courtesy of Wikimedia Commons.
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Tough times for Gladstone commercial property as town adjusts to end of mining boom

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International experts, from developers to urban planners, architects to politicians, will be in Melbourne next month to speak about building sustainable environments.
<a href="https://www.greencities.org.au/" target="_blank">Green Cities 2015</a>, co-hosted by the Green Building Council of Australia (GBCA) and the Property Council of Australia (PCA), will be taking place on 17-19 March. Experts will be speaking about how to build cities that people fall in love with, design inspired by nature and the economic benefits of good design. Attendants will have the opportunity to learn from international examples of urban planning, technological innovation and development to learn about how to contribute to sustainable environments in Australia.
Headlining the event will be urban planner Larry Beasley CM. Widely considered one of the world's best urban planners, Beasley has been responsible for much of the shape of Vancouver's inner city, heading up suburb revitalisation projects and heritage conservation projects in what has since been called the "Vancouver model of new urbanism". He's advised planners in Dallas, Rotterdam, and Abu Dhabi. At Green Cities 2015, he will be speaking on "Rekindling the urban love affair", explaining how to create cities that are not just economically and environmentally viable, but also comforting and engaging.
Panelists will also discuss ethical investment strategies, and how insurers manage climate change related risk. Green Cities, as much a networking opportunity as a series of presentations, will host a women's leadership breakfast among other events.
As part of this year's event, Green Cities launched a sustainable innovation competition, called Weapons of Mass Creation 2015. The competition saw submissions from companies and organisations such as Stockland, Mirvac and the University of Sydney. The 23 organisations pitched technology innovations, planning strategies and novel designs to the judging panel, which will be presented to the audience on Wednesday 18 March. The winning innovations will receive national publicity in the GBCA's Green Building Voice and the Property Council's Property Week.
On the third day, attendees will get up close to sustainable buildings, with a tour of Melbourne's Green Star sites.
The event itself will be as "green" as possible, with energy use and waste offset.
Urban planners, architects and landscape architects including representatives from Indigenous Architecture and Design Victoria, HASSEL, ASPECT studios, Fit Landscape, Cox Architecture, Conrad Gargett and Exploration Architecture will all be present at the event. Melbourne Lord Mayor Robert Doyle will launch Green Cities 2015 on 17 March.
Since its launch in 2007, 9,000 people have attended Green Cities.
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Larry Beasley to headline Green Cities event coming to Melbourne in March

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The Reserve Bank of Australia has kept the official cash rate on hold this month.
The official cash rate remains at its record low of 2.25%, after a 25 basis point cut last month.
The majority of experts <a href="/expert-insights/finance/experts-split-on-reserve-banks-march-rate-move-finder">surveyed by comparison website Finder</a>, including NAB's Alan Oster, anticipated that the Reserve Bank would announce that rates would not change this month.
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Reserve Bank holds rates for March

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The National Australia Bank and Commonwealth Bank are both offering their five year fixed rate loan product at 4.59% ahead of today's Reserve Bank announcement.
Their five year fixed loans rates are 10 basis points lower than that offered at Westpac, which has a 4.69% rate on its comparable product.
ANZ's interest rate is higher still, at 4.74%.
However, the lowest interest rates on five year fixed products are still offered by minor lenders. UBank's five year fixed rate is at 4.37%, and Newcastle Permanent is offering a 4.39% rate on its five year fixed loan.
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NAB and Commonwealth neck and neck for five year fixed rate loans

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Australia's falling dollar and the promise of a recovering market is drawing New Zealanders back to the Gold Coast, according to one agent.
Russell Barker, a licensee of First National Southport, tells Property Observer that the agency is seeing "very strong enquiries" through its New Zealand offices.
He believes the renewed enthusiasm is in part due to a general increase in foreign interest in the area on the back of the upcoming Commonwealth Games.
"It started about nine months ago," says Barker. After a flat market, stretching back to 2008, and negativity from Queensland's floods, he says new infrastructure built to support the 2018 games is attracting media coverage and buyer interest.
He notes an uptick in development in the area, which can accommodate foreign buyers who are only allowed to purchase new properties. But while much has been made of Chinese investment in the Gold Coast, he says the Chinese market only contributes to about 5% of sales.
Barker believes that New Zealanders aren't simply drawn to the Gold Coast because of the associated lifestyle, but because of investment opportunities.
"Apart from Auckland and Queenstown, there aren't really many places with strong capital growth in New Zealand," he explains.
With the earthquake's impact on the Christchurch market and few solid investment opportunities in Wellington, Barker says investors turn to the Australian market – and the falling Australian dollar, now worth NZ$1.03, is only increasing the appeal.
"When the market crashed, a lot of Australians were buying in America," he notes.
"And now with the dollar changing, we're seeing the reverse," with New Zealand and European buyers considering our market."
Barker says New Zealanders' interest in Australia will "only get stronger and stronger".
"They're really the extra state of Australia," he says. "We openly accept New Zealand, the same as they accept us."
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New Zealanders return to Gold Coast as dollar nears parity, says agent

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More than half of the 37 experts surveyed by comparison website <a href="https://finder.com.au">Finder</a> predict that the Reserve Bank will keep the official cash rate on hold at today's meeting.
The 21 respondents who believe the cash rate will stay at its record low of 2.25% include National Australia Bank's chief economist Alan Oster, who said the effects of last month's 25 basis point cut will "take some time" to become apparent.
Although Oster believes that the interest rate will stay on hold, economists from the other big four banks don't agree. Warren Hogan from ANZ, Michael Blythe of Commonwealth Bank and Bill Evans of Westpac all predict that the cash rate will be cut this month.
In general, the experts surveyed predict a low interest rate environment will continue until June 2016.
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Experts split on Reserve Bank's March rate move: Finder 

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A north-facing home in Sydney's Bellevue Hill was the most expensive sold last week, according to CoreLogic RP Data.
The four bedroom house was sold through Raine &amp; Horne Double Bay for $5.5 million.
Set on a 720 square metre parcel, the three storey contemporary home has views of the city. Various living areas open through bi-fold doors to outdoor entertaining zones, which include a courtyard, gardens, multiple terraces and a gas heated pool.
The home includes an open plan library at the top of the stairs.
The vendors purchased <a href="https://www.domain.com.au/property/for-sale/house/nsw/bellevue-hill/?adid=2011531949" target="_blank">14 Arthur Street in Bellevue Hill(</a>pictured above) for $4.8 million in 2010. In five years, its sale price increased by $700,000.
The home was one of nine from Sydney that appeared in this week's top 10 list. Just one Melbourne home got a look in – a five bedroom house on Kew's Cotham Road was the 10th most expensive Australian home to sell this week at $3.61 million.
CoreLogic RP Data's top 10 sales of the week ending 1 March:
<ul>
<li>
14 Arthur Street, Bellevue Hill, NSW
</li>
</ul>
4 bed, 3 bath, 2 car house 
$5,500,000 
Raine &amp; Horne 
Double Bay
<ul>
<li>
2A Mount Street, Hunters Hill, NSW
</li>
</ul>
5 bed, 4 bath, 3 car house 
$5,060,000 
First National 
Hunters Hill
<ul>
<li>
190 Barrenjoey Road, Newport, NSW
</li>
</ul>
6 bed, 5 bath, 3 car house 
$5,000,000 
L J Hooker 
Mona Vale 
<ul>
<li>
60 Portland Street, Dover Heights, NSW
</li>
</ul>
4 bed, 6 bath, 5 car house 
$4,800,000 
Position Realty
<ul>
<li>
54 Cammaray Road, Castle Cove, NSW
</li>
</ul>
5 bed, 6 bath, 3 car house 
$4,620,000 
Belle Property 
Glebe 
<ul>
<li>
34 Yanko Avenue, Bronte, NSW
</li>
</ul>
4 bed, 3 bath, 3 car house 
$4,082,000 
Richardson &amp; Wrench 
Bondi Beach 
<ul>
<li>
31 Le Vesinet Drive, Hunters Hill, NSW
</li>
</ul>
3 bed, 2 bath, 3 car house 
$3,850,000 
BresicWhitney Estate 
Agents Hunters Hill 
<ul>
<li>
139 Military Road, Dover Heights, NSW
</li>
</ul>
6 bed, 5 bath, 3 car house 
$3,825,000 
Laing + Simmons 
Double Bay
<ul>
<li>
10 Carrington Parade, Freshwater, NSW
</li>
</ul>
5 bed, 3 bath, 4 car house 
$3,750,000 
Clarke &amp; Humel Property 
Manly
<ul>
<li>
266 Cotham Road, Kew, Vic
</li>
</ul>
5 bed, 3 bath, 4 car house 
$3,610,000 
Marshall White 
Hawthorn
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$5.5 million house on Bellevue Hill tops week's sales: CoreLogic RP Data

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Joel Robinson

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Jessie Richardson

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