Wollongong developer&nbsp;Level 33&nbsp;has revealed what it intends to do with its recently acquired WIN Grand development.

<a href="/developers/level-33">Level 33</a>, led by Eddy Haddad, bought the 13,088 sqm megasite for a reported $70 million from&nbsp;media veteran and billionaire Bruce Gordon earlier this year. Now Level 33 has submitted a $500 million, State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, three residential towers, between eight and 40 levels, a commercial office building, and a hotel. There will also be extensive retail on the ground and podium levels, entertainment facilities, and a wellness centre.

A total of 578 apartments have been proposed, of which around 100 will be designated affordable housing under the infill affordable housing bonus scheme.

The original scheme, for the entire city block that borders Crown, Keira, Burelli, and Atchison streets,&nbsp;was approved in December 2022, but Level 33 has now refined the original vision, appointing a new design team, to rework the site’s development approach.&nbsp;

Their key objectives for the site were to:

• Rationalise the proposed retail uses to ensure the provision is compatible with and enhances the retail primacy of Crown Street and aligns with current market trends and needs analysis.

• Update residential mix to meet local housing needs in Wollongong.

• Enhance the pedestrian experience around and through the site to improve permeability and movement to and from the Train Station and Crown Street Mall.

• Implementing a staged approach to ensure longer-term leases remain operational during site development.

• Incorporated a hotel component into the architectural proposal to enhance the overall design and functionality

<img alt="Wollongong" data-entity-type="file" data-entity-uuid="b99be0b5-2fdd-4389-8984-6aa23d654c54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-09%20at%207.56.37%E2%80%AFPM.png?VersionId=ai495PUGcatYI29t1wkiCnprIzw5nZ2z" />

Located within <a href="/developments/wollongong-nsw-2500">Wollongong</a>’s central business district, WIN Grand is well-positioned, just 280 metres from Wollongong Train Station and adjacent to Wollongong Central Shopping Centre.&nbsp;

The project aims to enhance pedestrian movement between the train station, Crown Street Mall, and the surrounding areas through a central plaza, while also maintaining the historic facade of buildings on the site.&nbsp;

"Level 33 have appointed a new design team to review the existing development consent and take a fresh approach to the site," the developer noted in the application.

"This fresh approach seeks to refine what has been approved and identify opportunities for additional market and affordable housing using the infill affordable bonus, and in doing so maximising the sites highly accessible location in Wollongong.

"Redevelopment of the site will act as a catalyst for improving this part of Wollongong and stimulating broader renewal of the town centre."

The design maximises solar access for private and public spaces and takes care to avoid overshadowing MacCabe Park, less than 50 meters away.

WIN Grand is expected to stimulate economic growth in Wollongong, acting as a catalyst for the broader renewal of the town centre.&nbsp;The proposal also reflects Level 33’s strategy of delivering mixed-use developments that cater to both the residential and commercial sectors.&nbsp;The developer’s previous projects in Wollongong, such as Easterly Wollongong and Skye Towers, demonstrate its familiarity with the local market.&nbsp;

A total of 578 apartments have been proposed, of which around 100 will be designated affordable housing under the infill affordable housing bonus scheme.

Joel Robinson

First look exclusive: Level 33 reveal $500 million WIN Grand, Wollongong development

Leading Australian development and construction group ALAND has taken over another development site from Jean Nassif's disgraced Toplace.

A few weeks after announcing it would be <a href="/news/nsw/aland-to-deliver-final-three-buildings-in-toplaces-skyview-apartment-development-in-castle-hill">developing the final three towers</a> in Toplace's five-tower Castle Hill development Skyview, Andrew Hrsto's <a href="/developers/aland">ALAND</a> has swooped on 189 Macquarie Street in the heart of <a href="/developments/parramatta-nsw">Parramatta</a>.

The $100 million deal for the 5,213 sqm site is ALAND's&nbsp;largest individual property acquisition since the company was founded in 2002.

Plans had been for two 54 and 41-level towers, however ALAND is now scaling back those plans, instead opting for two 30-level towers with 425 apartments, 1,550 sqm of communal open space, 317 sqm of retail floor space, and 715 public and 389 resident parking spaces

<img alt="ALAND" data-entity-type="file" data-entity-uuid="00bf008f-ee21-4729-a6d7-9a467ddc95b3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-08%20at%202.37.33%E2%80%AFPM.png?VersionId=M_tlGJiNmM090eCBL8d83eUqjwDMkHJl" />

ALAND Founder and Owner Andrew Hrsto says the acquisition of the Macquarie Street site further demonstrates ALAND’s commitment to delivering properties of exceptional quality at an affordable price to the people of Greater Western Sydney. &nbsp;

“ALAND has a strong focus on only delivering precisely what the local community needs, and we continue to invest heavily in Parramatta – in line with the state government’s commitment to employment, lifestyle and amenity in the area,” Hrsto said.

“We’ve had a long and proud relationship with this community. Not only have we been the major sponsor of the Parramatta Eels for many years, but we will soon be moving our company headquarters into the new ALAND building in Parramatta CBD.”

Hrsto says that a design masterplan for 189 Macquarie Street, Parramatta, will be developed over the coming months.

Aligned with ALAND's development ethos, the local community will be kept informed at all times.

189 Macquarie St is just 250 metres away from ALAND's recently completed <a href="/buildings/paramount-on-parkes-harris-park-14-20-parkes-street-harris-park">Paramount on Parkes</a> building.

Read more:&nbsp;<a href="/news/nsw/aland-opens-paramount-on-parkes-parramattas-new-landmark-apartment-development">ALAND opens Paramount on Parkes, Parramatta's new landmark apartment development</a>

ALAND Founder and Owner Andrew Hrsto says the acquisition of the Macquarie Street site further demonstrates ALAND’s commitment to delivering properties of exceptional quality at an affordable price to the people of Greater Western Sydney

First look exclusive: ALAND take over second Toplace site, plot two 30-level apartment towers

Local downsizers are approaching settlement stage at the soon-to-be-completed luxury Toorak apartment development, ADA Toorak by&nbsp;<a href="/developers/buxton-projects">Buxton Projects</a>.

Construction firm Manresa is finalizing the build of the 22 three-bedroom apartments, with buyers expected to be moving in before Christmas.

Located at 1093-1099 Malvern Road, the $22 million ADA Toorak is one of few apartment buildings designed by Conrad Architects, led by sought-after architect Paul Conrad.

Conrad has created some of the best homes in the&nbsp;<a href="/developments/toorak-vic-3142">Toorak</a>&nbsp;and wider Stonnington area, while also carrying an enviable workbook overseas. He's designed mansions in Los Angeles and New York, while also lending his interior eye to the Dubai Hotel.

[smartcode_project:default project_id=92806 project_image_fid=175567]

The architecture of ADA Toorak features a modest, contemporary design, and sits in landscaping planned by Jack Merlo to include private botanical terraces and courtyards, ensuring that each apartment benefits from green surroundings.

The apartments at ADA Toorak are certainly "house-sized", with floorplans ranging from 183 sqm to 289 sqm.

Each residence is designed with expansive living areas, featuring floor-to-ceiling double-glazed windows and doors that maximize natural light.&nbsp;

High-end finishes such as travertine stone and limestone are used throughout, and the kitchens are equipped with Miele and Barazza appliances, including a butler's pantry for added convenience.&nbsp;

&nbsp;

[smartcode_project:default project_id=92806 project_image_fid=175568]

Ground-floor apartments will feature large outdoor living spaces, some as large as 205 sqm, complete with built-in barbecues, offering ample space for outdoor entertainment.&nbsp;

The apartments on higher levels will have private terraces, maintaining a strong connection to the outdoors.

The carefully designed landscape includes the retention of existing trees, as well as new plantings of Pin Oaks, shrubs, and hedges to ensure privacy and blend with the surrounding streetscape.

Situated in one of Melbourne’s most prestigious suburbs, <a href="/buildings/ada-toorak-1093-1099-malvern-road-toorak">ADA Toorak</a> places residents within walking distance of High Street and Glenferrie Road, providing easy access to a range of shopping, dining, and entertainment options.

[smartcode_project_cta:default project_id=92806]

Situated in one of Melbourne’s most prestigious suburbs, ADA Toorak places residents within walking distance of High Street and Glenferrie Road, providing easy access to a range of shopping, dining, and entertainment options

ADA Toorak apartments approach completion

Sunshine Coast builder-developer Habitat has completed construction of The Corso, its latest residential apartment development in <a href="/developments/maroochydore-qld-4558">Maroochydore</a>.&nbsp;

<a href="/buildings/the-corso-maroochydore-20-south-sea-islander-way-maroochydore">The Corso</a>, which comprises 158 two and three-bedroom apartments across two towers, has started welcoming its first residents.

Just three-bedroom apartments remain in the development that is strategically located in the heart of the burgeoning&nbsp;Maroochydore CBD.

The sub penthouse is priced at $1.59 million and has three bedrooms, a study, two bathrooms, and parking for two cars, while the final remaining penthouse is priced at just under $1.7 million.

&nbsp;

[smartcode_project:default project_id=100708 project_image_fid=294387]

The Corso comprises a 15-level south tower with 116 apartments and a smaller nine-level north tower with 42 apartments.&nbsp;

Residents will have access to various communal amenities, such as a resort-style pool with cabanas, day beds, and a lawn area. A&nbsp;private terrace spans both towers, offering panoramic views and a dining area for exclusive use by residents. The Corso also features ground-level commercial spaces for retail and café outlets.&nbsp;

Designed by <a href="/architects/k-architecture">K Architecture</a>, the development rises above landscaped parklands and a proposed convention centre.

&nbsp;

[smartcode_project:default project_id=100708 project_image_fid=294382]

Just minutes from Maroochydore’s coastline, the area provides access to beaches, rivers, and parklands like Maroochydore Rotary Park and Cotton Tree Pier.

The Corso is the second residential project in Maroochydore CBD by&nbsp;<a href="/developers/habitat-development-group">Habitat Development Group</a>, following the successful Market Lane project.

&nbsp;

High demand in the Sunshine Coast’s rental market, combined with Habitat Development Group’s track record of maintaining vacancy rates under one per cent, suggests strong potential for investors.

[smartcode_project:default project_id=100708 project_image_fid=291147]

The Corso will also benefit from Maroochydore’s transformation from a tourism and retirement destination to a hub of economic activity with world-class infrastructure.

The region now boasts its airport and a Greenfield CBD, and future transport projects, including plans for light rail and train connections to Brisbane, enhancing the area's accessibility.

[smartcode_project_cta:default project_id=100708]

The Corso is the second residential project in Maroochydore CBD by Habitat Development Group, following the successful Market Lane project

Habitat complete The Corso, Maroochydore apartment development

Brisbane developer&nbsp;Consolidated Properties Group&nbsp;has revealed its final release of six residences in its $450 million absolute riverfront Monarch Residences development at Toowong.&nbsp;

The Penthouse Collection encompasses the largest and most lavishly appointed apartments within Monarch Residences and the final six are hitting the market.&nbsp;

Astute buyers keen to own in what is Brisbane’s finest current apartment offering are expected to move quickly on the release, says Colliers Brisbane Director of Residential, Andrew Scriven.

“This is a once-in-a-lifetime opportunity to own such a home of this calibre, with a breathtaking landscape with vistas of the city and 130 metres of north-facing riverfront,” Scriven said.

“There will never be another place like <a href="/new-apartments/monarch-residences-toowong-600-coronation-drive-toowong">Monarch Residences</a>.” &nbsp;

[smartcode_project:default project_id=113455 project_image_fid=302324]

The Penthouses have been curated by <a href="/developers/consolidated-properties">Consolidated Properties Group</a>&nbsp;(CPG)&nbsp;in partnership with John Wardle, the Melbourne-based Architectural Institute of Australia gold medal-winning architect, and leading national architectural practice Cottee Parker.&nbsp;

The Penthouse Collection features elevated ceiling heights, starting at a minimum of 3.2m, that create a volume of space, openness to uninterrupted views, and an abundance of natural light and river breezes.

[smartcode_project:default project_id=113455 project_image_fid=302328]

In addition, the penthouses feature premium interior finishes including Herringbone European oak timber flooring, oak finished bespoke joinery, paired with luxurious Dolce Vita quartzite benchtops and a suite of European appliances.&nbsp;

The individualised floorplans allow each penthouse to showcase its own views and unique features, ensuring each of the collection’s apartments stands out from the rest.

Apartments in the Penthouse Collection range in size between 295 sqm and 347 sqm and are priced between $5.75 million and $7.9 million.

[smartcode_project:default project_id=113455 project_image_fid=302329]

Consolidated Properties Group CEO and chairman Don O’Rorke says the final release of the Penthouse Collection is a case of leaving the best until last.

“We launched Monarch Residences in early 2023 and it’s been one of the best received residential projects in our 45-year history, as well as Brisbane’s, with the apartments now 95 per cent sold out ahead of construction completion end of next year,” O’Rorke said.

“There is no better-connected site in Brisbane with its rail, bus, ferry, pedestrian and cycleway linkages at its doorstep – and we have aimed to deliver apartments, amenities and a design ethos that does justice to the quality of the land and which reflects quintessential Queensland living.

“We have designed each penthouse as a sanctuary right in the heart of the city. They are the epitome of luxury, elegance and security overlooking the Brisbane River – the purchasers will be securing something truly special.”

[smartcode_project:default project_id=113455 project_image_fid=302327]

Architect John Wardle says that when designing interiors for The Collection, his team wanted to create a feeling of harmony and connect owners to the Brisbane Riverfront.

“Our design philosophy focuses on creating spaces that harmonise with their surroundings," Wardle says.

"The Collection not only captures breathtaking views but also embodies the true essence of what it means to live in Brisbane, ensuring residents feel a true connection to the riverfront.

“Each residence is a testament to modern design capability, sophistication, architectural excellence and remarkable construction.”

[smartcode_project:default project_id=113455 project_image_fid=211466]

&nbsp;

In addition to owning one of Brisbane’s most exclusive apartments, residents at Monarch Residences will have direct access to the historic heritage-listed Middenbury House, which sits on the site and is currently being restored and refurbished with the public able to access the house for the first time since it was built in 1865.

Monarch Residences is currently under construction with Hutchinson Builders, with an anticipated move-in by the end of 2025.&nbsp;

Prospective buyers can visit the multi-million-dollar, riverfront sales office on-site at 600 Coronation Drive, <a href="/developments/toowong-qld-4066">Toowong</a>. The sales display will be closing at the end of the year to make way for construction.

[smartcode_project_cta:default project_id=113455]

The Penthouses have been curated by Consolidated in partnership with John Wardle, the Melbourne-based Architectural Institute of Australia gold medal-winning architect, and leading national architectural practice Cottee Parker. 

Consolidated release final Penthouse Collection at Brisbane’s Monarch Residences

Nestled within the Martha Cove marina community, <a href="/developers/figurehead">Figurehead Group</a>’s Osprey development is a collection of 18 luxury coastal apartments that perfectly blend architectural elegance with its scenic surroundings.&nbsp;

[smartcode_project:default project_id=138447 project_image_fid=290648]

The multi-award-winning developer recently completed <a href="/buildings/osprey-safety-beach-15-martha-cove-boulevard-safety-beach-vic-3936">Osprey</a>, which was honoured with the Urban Developer’s Development of the Year award.&nbsp;

We recently toured the completed apartment with <a href="/project-marketer/projects-by-buxton">Projects by Buxton</a> director, Heath Thompson.

<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/dCCTNwG1VUU?si=dN3KMFSQnXQgmlxA" title="YouTube video player" width="560"></iframe>

Designed by <a href="/architects/wolveridge-architects">Wolveridge Architects</a>, the two and three-bedroom apartments are inspired by the marina setting, with curved architectural details capturing the essence of the coastal location.&nbsp;

The curved facades flow into the interiors, providing uninterrupted views of the marina both from inside the apartments and on the spacious balconies.

Entry to each residence is through a central lightwell breezeway, emphasising the indoor-outdoor design concept.&nbsp;

[smartcode_project:default project_id=138447 project_image_fid=290632]

Located less than 200 metres from the vibrant Martha Cove marina, residents can enjoy quick access to Martha's Table, the local café, wine bar, and Mediterranean restaurant that serves as a hub for the community.&nbsp;

Osprey’s proximity to <a href="/developments/safety-beach-vic-3936">Safety Beach</a> and the wider Mornington Peninsula further enhances its appeal, offering a blend of seaside living and easy access to surrounding attractions.

Osprey apartments are now complete and ready for new residents to move in.

[smartcode_project_cta:default project_id=138447]

Designed by Wolveridge Architects, Osprey's two and three-bedroom apartments are inspired by the marina setting, with curved architectural details capturing the essence of the coastal location. 

Inside Figurehead’s Osprey in Safety Beach: Urban’s completed apartment tour

The volatile nature of apartment approvals is continuing to hindering the national housing target to build&nbsp;1.2 million new well‑located homes over five years.

The number of dwellings approved fell 6.1 per cent in August to 13,991, after an 11 per cent rise in July, according to data released by the ABS.

The decline was fuelled by a 16.5 per cent fall in approvals for private dwellings excluding houses (such as townhouses and apartments), to be 6.1 per cent lower than one year ago.

This was mainly driven by a decline in high-density apartment approvals. There were 1,214 apartments approved in nine or more storey blocks in August, down from 2,504 in July.

Matthew Kandelaars, Property Council Group Executive Policy and Advocacy, said it is disappointing to see the number of approvals go backwards after growth in July.

“We need to increase the number of homes approved and ensure a strong pipeline of apartment supply, to drive towards our housing targets at scale,” Kandelaars said.

“But the reality is that it has never been more difficult and costly to get apartments out of the ground.

“Apartment-killer taxes and planning systems continue to stall housing supply at a time when we can least afford it.

“Over the past year, we approved nearly 9,000 fewer apartments and townhouses across the country than the in preceding 12-month period. We need that number to increase month on month to build the homes Australians need."

In New South Wales, approvals declined by 14 per cent over the 12 months to August 2024 to just 42,400. They are now 45 per cent below their September peak.

“The decline in approvals is a warning that the path to reach our state’s housing targets is getting steeper by the month,” said Stuart Ayres, CEO, of UDIA NSW.

This pressure continues to be felt across the whole state, and across all dwelling types. As UDIA NSW analysis shows, all typologies reported an annual decline, with apartments again showing the most dramatic of declines of 30 per cent over the last twelve months to just 10,300 approvals.

<img alt="New Building Approvals, NSW, Rolling Annual to August 2024" data-entity-type="file" data-entity-uuid="ff4c36ec-8788-4e6d-8776-9b1c4e37a3a4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/unnamed_0.png?VersionId=rO6K6BlNWp9t3uf6ncykilGX4ANsvY2h" />

Source ABS: UDIA NSW 
<img alt="No of Building Approvals" data-entity-type="file" data-entity-uuid="1f56a5f2-4fe4-4a3f-a07d-eba8eb37da08" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/unnamed.jpg?VersionId=B.ag7p8G51AHHuKgYDdTBD5KYPmCR_8j" />

UDIA says it is continuing to advocate for more action to speed up the delivery of housing, including the Government adopting key recommendations made in the Productivity and Equality Commission’s Review of Housing Supply Challenges and Policy Options for New South Wales. The report called out the challenges of development feasibility, construction sector capacity, and a slow and inefficient planning system, which are all constraining the delivery of new housing.

The Productivity Commissioner’s report makes some common-sense recommendations that can unlock more housing supply more quickly and help us chart a course to deliver our housing targets.

The Commissioner confirmed the findings of UDIA’s recent. Making TODs Work research found that mid-rise apartment projects are largely unfeasible in most parts of Sydney and recommended a further increase in densities around the announced TOD sites, expanding them to 800m and adding more locations to the program.

“Doubling the permissible floor space ratio in the TOD 2 sites and greatly increasing density in other areas which are already zoned for high-density apartments will significantly increase the capacity of the industry to deliver housing," Stuart Ayres added.

Ayres also says an upfront Government investment now will be recouped through future developer contributions and state revenue like stamp duty, land tax and payroll taxes, which are only paid to the Government when new homes are built.

"The current business-as-usual approach of waiting years for developer contributions to accumulate, before there is enough available to start funding a handful of these housing-enabling projects, is clearly not delivering homes at the speed that communities need them.

Low apartment approvals hindering housing goals

Sunkin Property Group has revealed the next phase of its game-changing Highett community, Highett Common, following the success of the first two stages of the net-zero masterplan.

Currently building Highett Common's stage one and two, the former of which is 85 per cent sold, Sunkin is set to launch The Mews Collection, a trio of buildings with 185 one, two and three-bedroom apartments.

[smartcode_project:default project_id=108019 project_image_fid=300057]

The apartments will feature&nbsp;floor-to-ceiling glazed windows, to take advantage of the views of the surrounding parklands, as well as all-electric kitchens with stone surfaces, Bosch appliances, and induction cooktops.

Several apartments in the collection feature wrap-around terraces.

[smartcode_project:default project_id=108019 project_image_fid=300054]

The Mews Collection also includes the first luxury apartments within the precinct.

The 12 apartments, dubbed the Luxury Collection are a step up in design, with&nbsp;Gaggenau appliances, herringbone timber flooring, marble benchtops, and advanced home automation systems that are integrated with the Highett Common Connect app.&nbsp;

Buyers in the Luxury Collection will also receive a $12,000 styling&nbsp;consultation from <a href="/interior-designers/coco-republic-interior-design">Coco Republic</a> to further customise their interiors.

[smartcode_project:default project_id=108019 project_image_fid=300048]

The Mews Collection also introduces the first neighbourhood facilities that will be accessible to the wider Highett community.

There will be a new two-level public library, part of the Bayside Community Facility, which will have study areas, rooms for community classes and meetings, and an adjacent café.&nbsp;

The Northern Residents’ Amenity is part of the Mews Collection stage and will comprise&nbsp;a lap&nbsp;indoor pool, a gym with a wellness area, and a bookable private dining room.

The Southern Residents’ Amenity will bring another gym with green views, an outdoor swimming pool, wellness hubs and a cinema.

[smartcode_project:default project_id=108019 project_image_fid=300074]

<a href="/new-apartments/highett-common-37-graham-road-highett-vic-3190">Highett Common</a> is part of an ambitious project to create Victoria’s first medium-density, net-zero community, located on a 9.3-hectare site in the heart of Highett, ideally position to take advantage of Highett Road's lively bar and restaurant scene. Future residents will also be in close proximity to Sandringham Beach, Highett Shopping Centre and Highett Train Station.

SK Construction has already been appointed to deliver the whole project, which will be home over 1,000 apartments and townhouses when complete in 2029.

[smartcode_project_cta:default project_id=108019]

The Mews Collection also includes the first luxury apartments within the precinct

Sunkin reveal The Mews Collection, Highett Common's latest release

Mosaic Property Group, has emerged as the buyer of the development-approved Kangaroo Point site offloaded earlier this year by Woolworths.

Woolworths development arm, Fabcot, had secured approval for an impressive shoptop housing development at <a href="/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point">25 Ferry Street</a>, with 128 two and three-bedroom apartments located above a full-line Woolworths, BWS, and a cafe.

The apartments, across a 16-level building, will have city and river views.

<a href="/developers/mosaic-property-group">Mosaic</a> Founder and Managing Director, Brook Monahan, emphasised the long-term significance of the acquisition.

"This iconic site has been on our radar since 2016, known to many as a dormant opportunity burdened by years of challenges," Monahan said.

"After a thorough 12-month process, we are honoured to have been entrusted by Woolworths to bring this landmark site to life. It is a truly special location."&nbsp;

Monahan said Kangaroo Point has long awaited a project that introduced essential amenities while further elevating the area's architectural landscape.

"Our collaboration with Woolworths is rooted in a shared vision—to seamlessly integrate luxury living with retail convenience, ultimately enriching the lives of residents and the broader community."&nbsp;

The prime 3,197 sqm site in the Dockside precinct has been vacant for over three decades.

<img alt="Mosaic" data-entity-type="file" data-entity-uuid="df9f7789-14df-45fe-981e-4e143de640c9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-08%20at%208.59.58%E2%80%AFAM.png?VersionId=1DfNqWWDa_UzU0yzymoRhgGK0hgwvfCz" />

"This development is not just about reviving an inactive site—it's about creating lasting value for Kangaroo Point and aligning with &nbsp;Mosaic's long-term vision of delivering exceptional, enduring projects," Monahan added.

“We are looking forward to engaging with the local community to ensure they are well informed of our plans, and how we seek to complement and add value to the area. Our commitment is not only to deliver exceptional outcomes but to foster positive, long-term connections with the people who call this area home.”&nbsp;

The project has already sparked substantial interest, with Monahan noting a strong response within Mosaic's existing network.

"The level of excitement around this development signals its potential to be one of Mosaic's defining achievements to date.

“The Kangaroo Point Peninsula is one of the most tightly held and highly sought-after locations in Brisbane, and for good reason. It has one of the best, if not the best, walk scores in the city, made even stronger now with the completion of the green bridge and soon, with a full-scale grocery store on the horizon.” &nbsp;

Colliers secured the sale on behalf of Woolworths.&nbsp;

Troy Linnane, Residential Development Sites Director, noted that development-approved sites of this scale are very rare, particularly in Kangaroo Point, one of Brisbane's most sought-after riverside suburbs, which led to strong interest in the site from local developers.

True to Mosaic's unique end-to-end business model, the company will oversee the entire development process—from detailed design and construction to long-term asset management.&nbsp;

Since 2012, Mosaic has completed over 65 developments valued at well over $2 billion, with an additional $2 billion currently in its pipeline.

“Mosaic is very grateful to continue moving forward in a market that continues to face serious headwinds, and the delivery of high-quality built form has ground to a halt," Monahan said.

"It is by no means easy, and we are in no way immune to the challenges. Still, it is in many ways what defines our business: our ability to continue delivering premium developments, backed by disciplined processes and an unwavering commitment to our customers and the communities we serve."

Mosaic has submitted a minor change application to the existing scheme designed by Cottee Parker, collaborating with renowned Brisbane-based architects BDA.

Early works are expected to commence in 2025, with project completion slated for 2027.

Monahan said Kangaroo Point has long awaited a project that introduced essential amenities while further elevating the area's architectural landscape

Mosaic secures landmark Kangaroo Point development site from Woolworths

New report from leading Australian developer <a href="/developers/thirdi-group">Third.i</a> reveals that their one-of-a-kind residential development, Elevate Hume Place—situated above the newly opened Crows Nest Metro Station—offers a prime real estate opportunity with strong long-term value and high rental yields.

Research has revealed that over the past decade, suburbs along the Metro line have seen a 49 per cent increase in capital values, with <a href="/developments/crows-nest-nsw-2065">Crows Nest</a> experiencing a remarkable 79 per cent growth, driven by improved accessibility and future infrastructure potential*.

A review of 11 stations across Sydney shows that rental and sales prices for properties centrally located near these stations are, on average, 33 per cent higher than those on the periphery of the local government area*.

The convenience and lifestyle benefits associated with living near public transport make these properties highly desirable. Historical data shows that residential properties near transit stations consistently outperform the market in both rental rates and sales prices.

[smartcode_project:default project_id=142550 project_image_fid=297877]

In addition to local trends, global patterns indicate a growing demand for properties near public transportation.

In Tokyo, properties within a five-minute walk of major train stations enjoy a value premium of 20-30 per cent. while Shenzhen in China has seen residential property values increase by 17-23 per cent within a 400-600 meter radius of new metro stations.

These international examples underscore the potential for significant growth in property values for Elevate Hume Place, situated directly above Crows Nest Metro Station.

Crows Nest is not only benefiting from improved connectivity but is also poised for economic growth. The Metro Station is expected to attract new businesses and residents, bolstering the local economy. As more people flock to this well-connected area, property values are anticipated to appreciate further.

<a href="/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate</a> offers 130 one, two, and three-bedroom apartments, thoughtfully crafted to foster social interaction through upscale communal amenities. Residents will enjoy seamless connectivity to the heart of Sydney, as demand for centrally located properties with superior transport access continues to drive growth for both buyers and investors.

Third.i Co-Founder Luke Berry says that the Metro will boost Crows Nest’s connectivity and accessibility, elevating its appeal and driving property values, while attracting new residents, visitors, and businesses to the area.

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“The Crows Nest Metro station is poised to become a catalyst for commercial growth and investment in the area," Berry says.

"The Metro will allow you to be in North Sydney, Barangaroo, and the CBD within minutes. It’s going to draw new and interesting people who want to explore the village, shop, consume and invest in the area."

Berry says&nbsp;Crows Nest offers a unique blend of urban convenience and community charm.

"With its prime location, excellent amenities, strong demographic profile, and now the Metro, it’s an ideal choice for both residents and investors seeking long-term financial gains."

The Crows Nest Metro Station has transformed connectivity for residents, placing Crows Nest just seven minutes from the CBD and four minutes from Chatswood. According to new data from the Australian Bureau of Statistics, the metro will also shorten the average one-way commute for Crows Nest residents by 18 minutes.

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In addition to improved connectivity, the Crows Nest Metro introduces several upgrades to the area, including enhanced pedestrian crossings, increased pedestrian capacity, bike parking, and bidirectional cycle links, all of which promote a more active lifestyle for locals.

These improvements complement the vision for Elevate Hume Place, a project conceived by Third.i and Phoenix Property Investors with interior and exterior architecture by <a href="/architects/woods-bagot">Woods Bagot</a>, who also designed the Crows Nest Metro.

“Elevate will cater to a variety of purchasers from first time owners and/or investors to downsizers and right sizers wanting to be close to the Crows Nest Village and all this has to offer in terms of lifestyle, amenity and long term value,” Berry added.

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“Elevate will cater to a variety of purchasers from first time owners and/or investors to downsizers and right sizers," Third.i Co-Founder Luke Berry said.

Why the investment potential at Elevate Hume Place above Crows Nest Metro is proving too good to miss

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

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<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

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The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

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Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

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Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

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The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

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The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

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Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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Joel Robinson

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