Malaysian conglomerate <a href="/developers/mrcb">MRCB</a> International has sold more than 50 per cent of apartments in its $200 million Maris development in <a href="/developments/southport-qld-4215">Southport</a> ahead of its formal market release, highlighting a surge in demand for well-priced apartments in key Gold Coast urban precincts.&nbsp;

The project, approved by the Gold Coast City Council, will comprise 192 one- and two-bedroom apartments across 20 levels, with the option to amalgamate into three-bedroom residences.

To date, only the lower levels of the building have been sold, with upper-level apartments to be released later this quarter. MRCB International CEO Ravi Krishnan said the response had far exceeded expectations.&nbsp;

“Maris has resonated with buyers who recognise the long-term value in Southport’s transformation,” said Krishnan.&nbsp;

“The demand we've received to date validates our approach of creating considered, lifestyle-driven residences in locations with deep infrastructure, connectivity and lifestyle appeal.”

<img alt="Maris, Southport" data-entity-type="file" data-entity-uuid="6e685fd8-5135-4e9d-b1da-268ebcd7d025" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/MRCB11725_Maris_E02_Hero%20Queen%20Street%20Intersection_Warm_Tone.jpg?VersionId=_Hp9BRNg.mfaqqOYxwMxsQK.05LCXfyh" />

Demolition of the former Sundale Motel site is now complete, with construction of Maris expected to commence in the second half of 2025, and completion forecast for 2027. &nbsp;

Designed by <a href="/architects/plus-architecture">Plus Architecture</a>, Maris pairs contemporary coastal architecture with elevated amenity, offering residents access to a rooftop yoga and dining terrace, a podium-level pool, gym, sauna, and expansive lounge spaces with panoramic views of the Broadwater and Gold Coast skyline.&nbsp;

The project occupies a prominent position opposite the Broadwater Parklands light rail station, and is within walking distance of Australia Fair, retail and dining, and the proposed Olympic arena at Carey Park, slated to drive significant investment in the lead up to the 2032 Games.&nbsp;

Recent research from Urbis confirmed Maris was the single largest contributor to Gold Coast apartment sales during the March quarter, accounting for 80 of 209 new apartment sales city-wide.

Krishnan said the data reinforced MRCB International’s strategy to deliver accessible, lifestyle-led residences in strategically located precincts.&nbsp;

“Buyers are recognising the value in Southport and the opportunity to secure design-forward apartments in walkable, connected neighbourhoods,” Krishnan added.&nbsp;

“We’re focused on creating quality projects that align with how people want to live now, and into the future”.&nbsp;

Maris builds on the momentum of MRCB International’s flagship 26 Vista project in Surfers Paradise, one of the fastest-selling developments on the Gold Coast in 2023 and 2024.

[smartcode_project_cta:default project_id=134403]

Demolition of the former Sundale Motel site is now complete, with construction of Maris expected to commence in the second half of 2025, and completion forecast for 2027.  

Joel Robinson

MRCB sells half of Maris Southport apartments before official launch

In a move that signals the next chapter for Green Square’s transformation, <a href="/developers/deicorp">Deicorp</a> will break ground next week on The Avenues, a $874 million mixed-use precinct that will see a former industrial site in Zetland turned into a new residential neighbourhood over the coming years.

The 2.87-hectare site on Joynton Avenue, previously home to an Ausgrid depot, sits just four kilometres from the Sydney CBD and forms part of the broader Green Square renewal zone.&nbsp;

Construction will begin with a ceremonial sod-turn led by Deicorp founder Fouad Deiri.

Once complete, <a href="/new-apartments/the-avenues-zetland-130-joynton-avenue-nsw-2017">The Avenues</a> will deliver 624 apartments across nine buildings, along with curated ground-floor retail, purpose-built student housing and build-to-rent dwellings delivered in partnership with Scape. It's one of the largest developments to be launched in Sydney’s inner south in recent years, and one that takes a layered approach to scale, tenure and architecture.

<img alt="The Avenues" data-entity-type="file" data-entity-uuid="9c6fdda5-6201-4668-b2d2-801edbb30dfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-06-17%20at%202.06.57%E2%80%AFPM.png?VersionId=H_2kWnz0IkU5x03esnCmO1x4WwNeLHpR" />

Designed by <a href="/architects/fk-australia">Fender Katsalidis</a>, <a href="/architects/candalepas-associates">Candalepas Associates</a> and Lachlan Seegers Architects, the buildings vary in height and form, from eight to 14 levels. Each has been designed to respond to context: earth-toned brick facades, generous landscaped streets, and active retail edges aim to bring a pedestrian rhythm to what’s long been a closed-off site.

Public space is a key part of the plan. A $16 million package of park and infrastructure upgrades is tied to the project, including improvements to neighbouring Woolwash and Biyanbing Parks.

<img alt="Avenues" data-entity-type="file" data-entity-uuid="7fa0eedc-112b-4975-b21b-8deb66e059dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-06-17%20at%202.06.57%E2%80%AFPM_0.png?VersionId=dq.iJ1sqpbaQILqTuMVr6cbwHQuzYmOL" />

In contrast to the typical strata-only model, Deicorp’s plan integrates a mix of market apartments, long-term rentals and student housing, an increasingly common formula in inner-city regeneration precincts like Green Square and Waterloo. The precinct will also include over 800 sqm of commercial and retail space, with tenancy types ranging from cafes and bistros to small-format grocery and convenience stores.

The developer says the design prioritises sustainable performance and thermal comfort, with high-performance façades, natural ventilation, and external shading systems planned to meet SEPP 2022 and BASIX targets.

<img alt="Avenues" data-entity-type="file" data-entity-uuid="cedaa64f-cec8-4e62-861b-bfb71a50541f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-06-17%20at%202.07.08%E2%80%AFPM.png?VersionId=DFCYE0fPVIhSCOUsX4kaHVdXoKE_hZAk" />

<a href="/developments/zetland-nsw-2017">Zetland</a> has rapidly shifted from an industrial edge suburb to one of Sydney’s densest residential postcodes, driven largely by its rail connection and proximity to the city. Yet many parts of the suburb remain transitional. The Avenues aims to stitch one of its largest remaining brownfield parcels back into the urban grid, just a short walk from Green Square Station and the Gunyama Park precinct.

The project continues Deicorp’s active pipeline across metropolitan Sydney, with other projects underway or in planning in Parramatta, Melrose Park, Crows Nest and the Hills District.

[smartcode_project_cta:default project_id=146262]

Zetland has rapidly shifted from an industrial edge suburb to one of Sydney’s densest residential postcodes, driven largely by its rail connection and proximity to the city

Deicorp to break ground on The Avenues, Zetland masterplan

Developer&nbsp;<a href="/developers/rcorporation">R.Corporation</a>&nbsp;has launched the second and final tower in its mixed-use South&nbsp;Melbourne&nbsp;precinct.

<a href="/new-apartments/r-evolution-south-melbourne-253-normanby-road-south-melbourne-vic-3205">R.Evolution</a> follows in the footsteps of&nbsp;the highly successful <a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne">R.Iconic</a>, located on the western half of the prime Normanby Road site that&nbsp;<a href="/developers/rcorporation">R.Corporation</a>&nbsp;acquired nearly a decade ago.

The majority of the 456 apartments in the 31-level&nbsp;<a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne">R.Iconic</a>&nbsp;tower—designed by&nbsp;<a href="/architects/plus-architecture">Plus Architecture</a>— have sold, with just a handful of premium residences and townhouses remaining.

[smartcode_project:default project_id=150341 project_image_fid=1499]

R.Evolution continues in the same vein as its predecessor, offering a mix of one-, two- and three-bedroom apartments, townhouses and sub-penthouses.

Much like&nbsp;<a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne">R.Iconic</a>, which made headlines for its 30+ resident amenity offerings, including a rooftop running track, R.Evolution will add a host of new amenity.

The new 41-level tower includes a wellness Centre with a yoga and Pilates room, a second swimming pool, a magnesium spa and infrared sauna. Additionally, a co-working centre, table tennis tables, golf simulator, putting green, library, hotel-style lobby, private dining room and wine tasting room will also be added.&nbsp;

[smartcode_project:default project_id=150341 project_image_fid=1493]

R.Evolution also shares a podium with R.Iconic, giving R.Evolution residents access to the already established rooftop level—featuring a running track, indoor and outdoor gyms, sauna and steam room, dining pavilions, BBQ areas, fire pits, a children's playground, over an acre of Paul Bangay-designed gardens, and a pool.

Construction firm&nbsp;<a href="/news/maxcon-appointed-as-builder-for-adelaide-s-penny-place-development">Maxcon</a>&nbsp;has already commenced work on R.Evolution, with completion expected in 2027.

[smartcode_project:default project_id=150341 project_image_fid=1516]

<a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne">R.Iconic</a>&nbsp;was awarded Victoria’s Best Lifestyle Development at the 2023 PropertyGuru Awards—recognised not only for its extensive resident amenity offering, but also for its prime location at&nbsp;<a href="/developments/the-junction-nsw-2291">the junction</a>&nbsp;of South&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>,&nbsp;<a href="/developments/southbank-vic-3006">Southbank</a>, Port&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>, and the fringe of the CBD.

The entire precinct has been positioned as a "15-minute neighbourhood," with walking access to&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>’s extensive tram network, South&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>&nbsp;Market, and the&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>&nbsp;Exhibition Centre.

R.Corp is hosting a Grand Launch event on Saturday, June 28, in the R.Evolution Display Suite at 52 Boundary Street, South Melbourne, between 10am and 4pm.

[smartcode_project_cta:default project_id=150341]

R.Corp is hosting a Grand Launch event on Saturday, June 28, in the R.Evolution Display Suite at 52 Boundary Street, South Melbourne, between 10am and 4pm

R.Corporation launches R.Iconic sister tower, R.Evolution

Unit values on the Gold Coast edged down slightly in May, marking a rare softening in what remains an otherwise heated property market.

The decline was modest—just 0.1 per cent, according to the monthly Home Value Index by Cotality (formerly CoreLogic). Despite this minor drop, unit values have remained resilient, rising 1.3 per cent over the past three months and 5.4 per cent over the past year.

This small dip brings the median unit value on the Gold Coast to just under $850,000. However, the downward movement is not expected to persist, with demand for property in the region remaining strong, bolstered by expectations of further interest rate cuts from the RBA.

In contrast, house prices on the Gold Coast surged in May, climbing 0.9 per cent.

<h2>What happened in Gold Coast’s off the plan apartment market in May?</h2>

While <a href="/developments/gold-coast-qld">Gold Coast</a>&nbsp;unit values saw a rare contraction in May, prices aren't about to become significantly more affordable.

What is shifting, however, is the type of product being delivered to market.

The Gold Coast experienced a wave of money from the southern states during COVID, which led to a significant number of half- and full-floor apartments being developed in a short space of time. While these were quickly snapped up—thanks to continued demand over several years—this shift meant smaller apartments fell by the wayside. Even one-bedroom apartments were becoming a thing of the past.

But in recent months, including May, developers have begun reintroducing slightly smaller, more affordable apartments. This is helping meet an underserved segment of the market: buyers who are ready but haven’t had enough supply to choose from.

The Melbourne-based, Malaysian-backed development conglomerate MRCB is soon to launch Maris in Southport, a rare example of affordability-focused development.

There isn’t a single three-bedroom apartment in the building—just 180 one- and two-bedroom residences in the Southport Priority Development Area.

<img alt="MRCB greenlit for Maris, Southport apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-08-27%20at%208.56.13%E2%80%AFAM.png?VersionId=NzE9cgDGoWh3sGj8X7ZNyKH_bx6Sr.YV" />

Backed by Malaysian Resources Corporation Berhad, the project will replace the Sundale Motel and deliver a housing mix aimed at affordability, just steps from Broadwater Parklands Station.

Designed by <a href="/architects/plus-architecture" target="">Plus Architecture</a>, Maris will also feature a communal recreation deck and lush podium landscaping.

Read more: <a data-end="1662" data-start="1612" href="#" rel="noopener">MRCB greenlit for Maris, Southport apartments</a>

In Palm Beach, <a href="/developers/sherpa-property-group" target="">Sherpa Property Group</a> continues to expand its value-conscious Flourish brand with plans for <a href="/new-apartments/flourish-ovana-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Ovana</a>, a 102-apartment project located directly across from their flagship development, Flourish on Sixth.

[smartcode_project:default project_id=150017 project_image_fid=195]

If Flourish Ovana follows suit, it will feature a handful of one-bedroom apartments priced around $600,000, and two-bedrooms under $1 million.

The rooftop will include a swimming pool and spa.

Read more: <a data-end="2253" data-start="2187" href="#" rel="noopener">Sherpa expands Palm Beach footprint with Flourish Ovana plans</a>

Developer <a href="Dankav">Dankav</a> is also targeting the one- and two-bedroom market with <a href="/new-apartments/the-alfred-2375-gold-coast-highway-mermaid-beach-qld-4218">The Alfred</a>, a new mixed-use lifestyle precinct that will replace the Mermaid Beach Shopping Village.

The seven-level building will offer 80 one- and two-bedroom apartments above a vibrant hospitality precinct, capitalising on the proximity to the new light rail extension.

Dankav has enlisted BDA and J.AR Office to design the building.

<img alt="First look: Mermaid Beach Shopping Village to make way for Dankav's latest mixed-use development play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-05-14%20at%209.05.31%E2%80%AFAM.png?VersionId=gdBfGxorSfC4.6jrH.xG7C3Ckw2kh1H." />

"An opportunity exists to create a flagship mixed-use development that redefines the urban experience along the Gold Coast Highway," J.AR and BDA noted.

“Through considered analysis of the existing context of this area of Mermaid Beach and the envisaged potential for adjoining urban redevelopment, this design outcome will result in the addition of an elegant and visually interesting mixed-use tower with a highly active ground plane, which will provide considerable amenity for residents and visitors, and become a complementary and respectful addition to the ever-emerging light rail corridor of Mermaid Beach.”

Read more: <a href="/news/qld/first-look-mermaid-beach-shopping-village-to-make-way-for-dankavs-latest-mixed-use-development-play">First look: Mermaid Beach Shopping Village to make way for Dankav's latest mixed-use development play</a>

Developer<a href="/developers/polycell-group"> Polycel</a>l&nbsp;continues to target the higher end of the market, having nearly sold out their debut Gold Coast project, <a href="/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach">The Rochester</a>.

In May, the developer proposed their third local venture: a 59-level redevelopment of the Sandpiper site.

Effectively The Rochester 2.0, the new tower will comprise 216 apartments and three levels of resident amenity, including floating daybeds by a resort-style pool, golf simulators, two-level lounges, and private cinemas.

Read more: <a data-end="4067" data-start="3977" href="#" rel="noopener">First look exclusive: Polycell files Sandpiper redevelopment plans after owner buyout</a>

While Gold Coast unit values saw a rare contraction in May, prices aren't about to become significantly more affordable

City Beat May 2025: Developers eye shifting trends as affordability re-emerges on the Gold Coast

Dromana has long held a special place in the hearts of Victorians, thanks to its unique combination of natural beauty, laid-back charm, and rich local character. Tucked between the gentle curve of Port Phillip Bay and the dramatic rise of Arthurs Seat, the town offers a postcard-perfect setting that has drawn visitors for generations.

In the early 1900s, Dromana became a popular seaside retreat for Melbourne families escaping the city in search of sun, sea, and sand. Back then, holidaymakers would arrive by steamship or overland, setting up summer camps along the foreshore or booking rooms in charming guesthouses. The tradition continues today, with the town’s calm, safe beaches, colourful beach boxes, and scenic picnic spots offering a nostalgic slice of the “classic Aussie summer.”

Beyond the beach, Dromana is also adored for its access to nature. The climb to the summit of Arthurs Seat rewards with sweeping views over the Bay, while nearby trails and nature reserves make it easy to immerse yourself in the great outdoors. Food and wine lovers are equally spoiled, with wineries, breweries, and fresh produce at farm gates just minutes away.

But perhaps what people love most about Dromana is its balance. It’s lively without being hectic, close to everything yet far enough away to feel like a true escape. Its community is welcoming, creative, and close-knit—where weekend markets, surf clubs, and local festivals are part of everyday life.

It was all of the above and more that drew Melbourne developer Samuel Property to the area.

Samuel, led by Illan Samuel, has managed to create an unrepeatable, near-two-hectare site across the road from the beach for a new townhouse community: Hali Dromana, one of the first new developments in the coastal locale where four out of five dwellings are standalone houses.

Samuel says HALI Dromana is a location that will never be repeated along the Mornington Peninsula.

"Hali is a place where you can cross the road to the beach, take a short stroll to the shops, or relax in over 5,000 sqm of thoughtfully designed communal spaces. We're creating a true community, built on nearly 20 years of experience delivering high-quality, customer-focused residences."

[smartcode_project:default project_id=147112 project_image_fid=330356]

The 70 new two-, three- and four-bedroom townhouses are just a stone's throw from everything Dromana has to offer—from the Dromana retail strip with cafes, restaurants and boutique retailers, to the&nbsp;Dromana 3 Drive-In and the picturesque Dromana pier.

Hali, designed by Cera Stribley, reimagines the quintessential Australian beach house of the 1960s.

[smartcode_project:default project_id=147112 project_image_fid=330350]

The development embraces open, airy spaces and natural materials, reflecting the laid-back yet refined lifestyle Dromana is known for.

Blair Property Group Director Darren Blair, who is exclusively selling Hali, says it is the next logical step for some - a chance to downsize without compromise.

"Large, light-filled homes with thoughtful floorplans, optional lifts, and lock-up-and-leave convenience offer a lifestyle upgrade, not a trade-off," Blair says.

"For others, it’s the beach house dream made real: a place for epic summers with the kids, backyard barbecues after long days by the bay, and ultimately a full-time home for the next chapter of life."

Blair says it’s not just the exceptional architecture by Cera Stribley or the proximity to the pier, cafes, and wineries that’s driving early interest—it’s the chance to truly own your space.

"Buyers are already customising their homes, adding lifts and design features that speak to how they want to live. And that’s the real appeal: a home that fits you, in a place that feels like it always has.

The few buildings that were on the prime site have started to be demolished, and civil works on the land will begin in the coming months. Completion of Hali is slated for mid-2027.

[smartcode_project_cta:default project_id=147112]

Hali introduces a new way to live in Dromana’s timeless coastal charm

Summary

<ul>
	<li data-end="192" data-start="85">
	Sydney’s property market continues to strengthen, with unit values outperforming house values in May.
	</li>
	<li data-end="312" data-start="193">
	First home buyers drive demand in western suburbs, with strong interest in new projects in Auburn and Merrylands.
	</li>
	<li data-end="439" data-start="313">
	Latent Defects Insurance (LDI) gains traction, offering 10-year structural protection across several major developments.
	</li>
	<li data-end="579" data-is-last-node="" data-start="440">
	Major launches from Tian An, Northland Group, PERIFA, and Deicorp highlight a growing pipeline of quality, well-connected apartments.
	</li>
</ul>

<hr />
The upswing in the Sydney property market continued in May, with both house and unit values increasing in the wake of recent interest rate cuts.

Unit values rose 0.5 per cent, topping the 0.4 per cent growth in house values, Cotality's Monthly Home Value Index showed.

The year-to-date performance of units in Sydney is expected to turn positive when values rise again in June. The recent gains have offset the losses recorded in the first few months of the year, before the RBA began its rate easing cycle.

The median unit value in Sydney is $859,000—around $620,000 lower than the median house value of $1.48 million.

<h2>What happened in Sydney’s off the plan apartment market in May?</h2>

Sydney's western suburbs took the limelight in the new and off-the-plan apartment space in May.

In Auburn, Tian An launched the second stage of its Auburn Square development, North Village, in a move directly targeting affordability-seeking first home buyers.

Over 25 per cent of apartments were snapped up during its recent launch, with young professionals and investors showing the most interest.

[smartcode_project:default project_id=149184 project_image_fid=324852]

First home buyers don't have to pay any stamp duty on the one- or two-bedroom apartments, which are all priced under $800,000.

The building, designed by renowned architecture firm Rothelowman, has the sought-after 10-year Latent Defects Insurance by Resilience Insurance, protecting buyers from any structural or waterproofing issues for a decade after completion.

iCIRT-rated builder Binah has already started construction on site, with completion expected by early 2027.

Read more: <a data-end="1909" data-start="1811" href="#" rel="noopener">Tian An quickly sells 25% of apartments in North Village, Auburn, following successful launch</a>

<hr data-end="1914" data-start="1911" />
Developer Northland Group also opted for the Resilience LDI policy, bringing the first development to Merrylands under the new insurance scheme.

They launched Central Quarter, comprising 194 one-, two-, and three-bedroom apartments above a new retail and commercial podium. The apartments are also first home buyer–friendly, with the one- and two-bedroom offerings priced under the NSW Government's $800,000 stamp duty concession threshold.

[smartcode_project:default project_id=5660 project_image_fid=343722]

Central Quarter is one of the most connected developments in Merrylands—and potentially in all of Western Sydney.

Located on Pitt Street, the building sits directly next to Merrylands Station (just 35 minutes by train to the CBD), the Merrylands bus interchange, and across the road from Stockland Merrylands, home to nearly 200 retailers.

Read more: <a data-end="2935" data-start="2802" href="#" rel="noopener">Northland launches Central Quarter, Merrylands' first new apartment development with Resilience 10-year Latent Defects Insurance</a>

<hr data-end="2940" data-start="2937" />
Resilience Latent Defects Insurance was also taken out by developer PERIFA for Rozelle Village, the eagerly anticipated redevelopment of the former Balmain Leagues Club in Rozelle.

PERIFA officially launched Rozelle Village in May—a mixed-use project featuring 150 apartments across three buildings, retail spaces, and a new club for the community.

[smartcode_project:default project_id=8142 project_image_fid=347019]

Designed by Studio SC, with interiors by SJB, the project brings the peninsula its first full-line supermarket and aims to re-establish the site as a local hub with hospitality and community spaces.

Read more: <a data-end="3687" data-start="3594" href="#" rel="noopener">PERIFA to create new Inner West hub as buyers get first chance to buy at Rozelle Village</a>

<hr data-end="3692" data-start="3689" />
Builder-developer Deicorp has been one of the strongest advocates for Latent Defects Insurance since it was introduced to the Australian market by Resilience Insurance in 2023.

They recently broke ground on their $1 billion Showground Pavilions project at the Hills Showground Metro Station.<img alt="Deicorp breaks ground on $1 billion Showground Pavilions in Castle Hill" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/ShowgroundPavilions_Hero.jpg?VersionId=GB3aayxxrMWw.fbuntrb1nmOtBr6JWez" />

<a href="/new-apartments/showground-pavilions-3-andalusian-way-castle-hill-nsw-2154">Showground Pavilions</a> will deliver over 1,000 apartments and mixed-use amenity across five precincts, capitalising on its status as a Transit Oriented Development (TOD) site.

Read more: <a href="/news/nsw/deicorp-breaks-ground-on-1-billion-showground-pavilions-in-castle-hill">Deicorp breaks ground on billion Showground Pavilions in Castle Hill</a>

May also marked another construction commencement for Deicorp in&nbsp;Melrose Park.&nbsp;

Their $700 million <a href="/new-apartments/melrose-central-melrose-park-33-hope-street-melrose-park-nsw-2114">Melrose Central</a> project, in collaboration with <a href="/developers/payce-consolidated-limited">PAYCE</a>, includes 500 apartments across six towers above a five-level retail and lifestyle podium.&nbsp;

[smartcode_project:default project_id=134220 project_image_fid=289879]

With Coles anchoring the 30,000 sqm retail precinct and a Parramatta Light Rail stop to come, early sales have been strong, and construction is pushing forward with completion due mid-2027.

Read more: <a href="/news/nsw/construction-underway-at-deicorp-s-melrose-central-in-melrose-park">Construction underway at Deicorp’s Melrose Central in Melrose Park</a>

There were several major planning developments in May, with a focus placed on the Lower North Shore area.

Developer&nbsp;<a href="/developers/freecity">Freecity</a> lodged a 40-level TOD tower in Crows Nest, aligned with the state’s recent planning reforms.&nbsp;

<img alt="First look: Freecity lodges Crows Nest TOD tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-05-21%20at%208.15.00%E2%80%AFAM.png?VersionId=sUKLydf_wmpBHwLPTaqnBKn836XB7cRm" />

Designed by <a href="/architects/cox-architecture">Cox Architecture</a>, the development sits above the new Crows Nest Metro and includes 178 apartments.&nbsp;

Communal terraces and a retail podium round out the vision for high-density, high-amenity urban living.

Read more: <a href="/news/nsw/first-look-freecity-lodges-crows-nest-tod-tower">First look: Freecity lodges Crows Nest TOD tower</a>

In <a href="/developments/kirribilli-nsw-2061">Kirribilli</a>, boutique developer <a href="/developers/made-property-group">MADE Property</a> is continuing its luxury push with a 19-apartment project on Carabella Street.&nbsp;

<img alt="First look: MADE Property doubles down in Kirribilli new apartment market" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Kirribili%20Made%20Property%20front.png?VersionId=_1bVmrk_o8vXK87_572g10B1rCE93Wog" />

Designed by SJB, the twin four-level buildings will blend into the leafy suburb while catering to a discerning market following the successful launch of Kirribilli Harbour.

Read more: <a href="/news/nsw/first-look-made-property-doubles-down-in-kirribilli-new-apartment-market">First look: MADE Property doubles down in Kirribilli new apartment market</a>

Further north&nbsp;in <a href="/developments/roseville-nsw-2069">Roseville</a>, <a href="/developers/hyecorp-property-group">Hyecorp</a>&nbsp;unveiled plans for a 259-apartment project across a 9,370 sqm site bordering Lord Street and&nbsp;<a href="/developments/roseville-nsw-2069" target="">Roseville</a>&nbsp;Avenue.

The nine-level building will feature&nbsp;a wellness centre with a 15-metre swimming pool and gym, a kids club, cinema space, games rooms, and a residents' lounge.

<img alt="Hyecorp plots latest Upper North Shore apartment development" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-05-13%20at%209.27.54%E2%80%AFAM.png?VersionId=WXyZqJkqHr0asSM6Q2kz.Zi.AGhcaNUl" />

<a href="/developers/hyecorp-property-group">Hyecorp</a>&nbsp;has been developing across&nbsp;<a href="/developments/sydney-nsw" target="">Sydney</a>'s North Shore region since the early 1990s. They are approaching completion of their St Leonards apartment project,&nbsp;<a href="/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards">Audrey</a>, opposite Newlands Park, which will wrap up construction later this year.

Their current&nbsp;<a href="/developments/roseville-nsw-2069" target="">Roseville</a>&nbsp;development, Juliet, will comprise 37 apartments when it is completed in mid-2026.

Read more: <a href="/news/nsw/hyecorp-plots-latest-upper-north-shore-apartment-development">Hyecorp plots latest Upper North Shore apartment development</a>

Major launches from Tian An, Northland Group, PERIFA, and Deicorp highlight a growing pipeline of quality, well-connected apartments

City Beat May 2025: Resilience Latent Defects Insurance drives buyer appetite in Sydney's west

A full-line Woolworths, a new retail laneway, and a collection of sculptural residential buildings are anchoring the next stage of growth in Hurstville, where <a href="/developers/one-collection">The One Collection</a> has officially launched <a href="/new-apartments/horizon-hurstville-6-jack-brabham-drive-hurstville-nsw-2220">Horizon</a> — a mixed-use precinct on the edge of Kempt Field.

As the curator behind the residences, The One Collection is responsible for setting the vision, driving the design narrative, and shaping the overall lifestyle experience.To bring that vision to life, they work hand-in-hand with the respected development and construction firm Masscon, which has built a reputation not only for creating places where people can live and thrive, but also for leveraging its expertise in the built environment to take on developments others cannot.

Such is the case with <a href="/new-apartments/horizon-hurstville-6-jack-brabham-drive-hurstville-nsw-2220">Horizon</a>, where development had stalled due to water ingress issues with the basement drainage system. Masscon took over the rectification works to alleviate the site’s environmental order, unlock the final development stage —ensuring the integrity and longevity of the building are upheld from the ground up.

Now, with the green light from the Environmental Protection Agency confirming the basement’s full compliance, Masscon has commenced construction of the next phase of the project.

&nbsp;

[smartcode_project:default project_id=149850 project_image_fid=277]

Horizon will be the final of four buildings in the wider precinct, which already features a Woolworths supermarket and direct access to Kempt Field.

It’s the park and convenience that underpin Hurstville’s strong Walk Score of 81 — a number set to improve with the arrival of St Clair Lane, a new retail laneway soon to be activated by hospitality, health, and lifestyle businesses.

Above St Claire Lane, 179 one-, two-, and three-bedroom apartments are now available.

&nbsp;

[smartcode_project:default project_id=149850 project_image_fid=280]

Designed by DKO Architecture, the buildings adopt a soft, organic form language that responds to the surrounding parkland. The apartments prioritise open-plan living, outdoor space, and natural light. Smart home technology comes standard — with automated lighting and air conditioning — while finishes lean toward durable, neutral palettes.

Smeg appliances feature in all kitchens, and most two-bedroom apartments include island benches to create an additional entertaining zone. Floor plans are tailored to suit both owner-occupiers and investors.

[smartcode_project:default project_id=149850 project_image_fid=284]

Residents will have access to a suite of on-site amenities, many of which are oriented to capture park views. These include a gym, sauna, games room, landscaped courtyards, a meditation deck, and a shared kitchen and lounge space.

In addition to the immediate amenities at the foot of the building, Horizon is just a stone’s throw from Hurstville Station — a 20-minute commute to Central Station. Adjacent to the station is Westfield Hurstville, redeveloped in 2016 and home to over 230 retailers, including Big W, Kmart, Aldi, Coles, Woolworths, Cotton On, TK Maxx, Uniqlo, JB Hi-Fi, Rebel, and Event Cinemas.

Masscon is on site moving its way up the building, which is scheduled for completion in late 2026, with off the plan buyers expected to move in shortly after.

[smartcode_project_cta:default project_id=149850]

Horizon will be the final of four buildings in the wider precinct, which already features a Woolworths supermarket and direct access to Kempt Field

Horizon brings connected parkside living to Hurstville’s growing centre

Young first home buyer Elycia didn’t expect to become a property investor when she purchased an off the plan townhouse at Development Victoria’s <a href="/new-townhouses/luma-sunshine-north-247-st-albans-road-sunshine-north-vic-3020">LUMA</a> masterplanned community in <a href="/developments/sunshine-north-vic-3020">Sunshine North</a> several years ago.

“I’d been saving for a while, and it felt like a good time to get into the market,” Elycia said of her purchase.

When she visited the display suite, she could immediately see herself living there, thanks to the variety of thoughtfully designed floorplans.

“I fell in love with how the floorplans were laid out — especially how the living room was positioned quietly away from the kitchen and dining area,” she said.

[smartcode_project:default project_id=27783 project_image_fid=96896]

Having watched her parents build a home from scratch, Elycia was grateful for a simpler path.

“I wanted something with as few choices as possible. Just pick a colour scheme and go,” she said. “You didn’t have to pick bricks, carpet, or underlay — it was all done.”

She selected the light colour scheme and opted for a few upgrades like a premium benchtop, but kept most fixtures standard.

[smartcode_project:default project_id=27783 project_image_fid=255556]

While COVID lockdowns delayed the delivery of her three-bedroom home near Sunshine Station, Elycia, a teacher, said <a href="/developers/development-victoria">Development Victoria</a> was transparent throughout the process.

The fact that Development Victoria is operated by the Victorian Government was a big reason I felt confident buying from them,” she said, adding that she was pleased with their clear communication around the delays, which were widely felt across the building industry.

“It felt slow at times, but once I could physically see the building taking shape, it all started to feel real.”

Importantly, the original purchase price remained unchanged — something Elycia appreciated.

“There weren’t any extra costs passed on to us. I’d paid my deposit, and the balance stayed the same," she said.

[smartcode_project:default project_id=27783 project_image_fid=350574]

Elycia had planned to move in and transfer schools once the build was complete in 2025. But life — and opportunity — had other ideas.

“On settlement, I stayed in the home for one night just to take it all in — to feel a sense of accomplishment for doing this by myself,” she said. “It’s now for someone else to enjoy.”

Development Victoria is currently delivering Stage Two of the LUMA masterplan, located between Ginifer and Albion train stations.

The townhouses vary in configuration and design, ranging from one to four bedrooms, and are designed to be all-electric, featuring solar PV, double glazing, and a minimum 7-star NatHERS rating.

A new public park and future links to the broader Sunshine Precinct — set to become a major employment and infrastructure hub — positions LUMA residents to take full advantage of being in a long-term growth corridor with increasing appeal for a wide range of buyers.

[smartcode_project_cta:default project_id=27783]

First home buyer turned investor: How young teacher Elycia bought her home at LUMA in Sunshine North

Local Gold Coast developer&nbsp;<a href="/developers/aniko-group">Aniko Group</a> has officially launched the first stage of The Landmark, a $2.5 billion masterplanned, mixed-use development in Mermaid Beach.

With construction now underway, the project marks one of the most ambitious and transformative undertakings in Queensland’s recent history.

[smartcode_project:default project_id=134338 project_image_fid=311027]

The Landmark will comprise four towers with a mix of apartments, premium commercial space, fine dining, and a 5-star internationally branded hotel.

The first stage of the project will complete in 2027,&nbsp;through Aniko's own construction arm, Aniko Constructions. 240 apartments are part of the first release.

George Mastrocostas, Founder and Managing Director of Aniko Group, said the project has been years in the making.

"[It]&nbsp;embodies our long-held aspiration to create something truly exceptional,” Mastrocostas said.

“To simultaneously launch and begin construction on <a href="/new-apartments/the-landmark-mermaid-beach-14-seaview-avenue-mermaid-beach-qld-4218">The Landmark</a> represents more than just a milestone; it’s a clear and confident statement about our intent and capability."

“Having our in-house construction team build The Landmark allows us to maintain oversight across every detail and progress with absolute confidence, even as the broader industry faces significant headwinds.”

[smartcode_project:default project_id=134338 project_image_fid=311028]

Located on the corner of Seaview Avenue, the site places residents within walking distance of Pacific Fair, The Star Casino, and the bustling precincts of Broadbeach and Mermaid Beach.

Created in collaboration with acclaimed design firm <a href="/architects/plus-architecture">Plus Architecture</a>, the residences feature spacious two- and three-bedroom layouts, many with dedicated study nooks, designed to capture panoramic views of the coastline, hinterland, and cityscape.

A suite of amenities will be available exclusively to residents, including a lagoon pool, pickleball court, golf simulator, arcade, Pilates studio, spa, sauna, and a state-of-the-art gym.

[smartcode_project:default project_id=134338 project_image_fid=311033]

“We’ve imagined The Landmark as far more than a place to live, it’s a lifestyle precinct that brings together community, wellness, entertainment, and world-class design,” Mastrocostas added.

“We’re proud to contribute something of enduring value to the Gold Coast. This development will generate jobs, elevate expectations, and enrich the urban fabric of our city. It’s a privilege to play a role in shaping that future.”

Construction of stage one is now underway.

[smartcode_project_cta:default project_id=134338]

George Mastrocostas, Founder and Managing Director of Aniko Group, said the project has been years in the making

Aniko Group breaks ground on $2.5 billion The Landmark in Mermaid Beach

Searching for your first home can often be a lengthy process — but not for Melburnian James Rothwell, who wasn’t even actively looking when he stumbled across the sales office for <a href="/new-townhouses/olio-officer-corner-of-bridge-road-and-coxon-street-officer-vic-3809">Olio Officer</a>, a new masterplanned community by <a href="/developers/development-victoria">Development Victoria</a> in Melbourne’s South East Growth Corridor.

“There wasn’t really much of a thought process,” James recalled. “I just happened to walk past the display office on my way home from work one day.”

He said he wasn’t armed with a checklist or detailed questions — his curiosity was simply piqued by the location, close to where he grew up.

[smartcode_project:default project_id=84641 project_image_fid=161917]

“I wasn’t going in with a checklist. It wasn’t even a fact-finding mission. I was probably one of the least likely people to walk in and end up buying. But once I learned more about Olio, it all just started to make sense.”

James ended up purchasing a three-bedroom home early in the first stage of the development, well before construction was complete.

“I’ve always preferred new builds over older homes,” he said, adding that the financial structure of buying off the plan suited his situation and steady income.

[smartcode_project:default project_id=84641 project_image_fid=161916]

Once he decided he wanted to buy near his family home, James broadened his search and visited other masterplanned communities in the area.

However, it was the credibility of the Development Victoria brand that ultimately won him over.

“Knowing that Development Victoria was behind the project gave me a lot of confidence. It’s not just a one-off developer — they stand behind what they build and can’t disappear if something goes wrong.”

[smartcode_project:default project_id=84641 project_image_fid=211732]

The location was another key factor. James works in Mulgrave, and the connectivity of <a href="/developments/officer-vic-3809">Officer</a> made the commute easy.

“It’s a straight drive down the Monash, or I can jump on a train at Officer Station — which is right across the road — and be in the city.”

James bought in 2021, when interest rates were at historic lows. While rates have since increased, he said buying off the plan gave him time to save during the construction period, making the transition manageable when it came time to settle.

“It was a chance encounter, but I’m glad I walked into the sales office that day. The home works perfectly for my lifestyle,” he said.

Development Victoria is currently delivering Stage Two of Olio. Over 90 homes were completed in Stage One, which also includes a central neighbourhood park. Homes in Stage Two are now selling, with prices starting from under $500,000.

[smartcode_project_cta:default project_id=84641]

From passing curiosity to first home buyer: James' journey to Olio Officer

<a href="https://www.apartments.com.au/developers/centa-property-group">Centa Property Group</a> has achieved two major milestones at its <a href="https://www.apartments.com.au/new-apartments/bilinga-house-107-golden-four-drive-bilinga-qld-4225">Bilinga House</a> apartment development in the sought-after southern Gold Coast.

They've almost sold 50 per cent of the Golden Four Drive building, while at the same time announcing the commencement of construction through reputable builder Greyburn Construction.

The boutique 10-storey building, with 47 two- and three-bedroom apartments, now has a mid-to-late 2028 completion date.

[smartcode_project:default project_id=150037 project_image_fid=5333]

The <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed project is positioned just 200 metres from Bilinga Beach and brings a relatively rare apartment offering to a market that has seen limited new supply in recent years.

Residences have been designed to maximise natural light and ventilation, with open-plan interiors, generous glazing, and material palettes that reflect the surrounding coastal landscape.

Interiors incorporate engineered timber flooring, stone benchtops, and custom joinery, with layouts designed to adapt to both permanent living and lock-and-leave use.

[smartcode_project:default project_id=150037 project_image_fid=5336]

Rothelowman Senior Project Leader Matthew Tencate said the design approach centres on liveability and community.

“Providing curated on-site amenities and communal spaces for residents that facilitate a sense of community, liveability, and wellness,” Tencate said.

Residents will have access to a suite of private amenities including a pool, gym, sauna, and communal alfresco areas, alongside practical features such as surfboard storage and bicycle facilities.

[smartcode_project:default project_id=150037 project_image_fid=5336]

Centa Property Group Director Jason Yuen said the project has been designed to appeal to a range of buyers seeking flexibility in how they use their property.

“Bilinga House is designed for those who want the best of both worlds – a modern beachside escape with the flexibility to generate income when you're not there,” Yuen said.

[smartcode_project:default project_id=150037 project_image_fid=5338]

Bilinga remains one of the quieter pockets of the Gold Coast, sitting between the more established hubs of Coolangatta and Palm Beach. Its appeal has strengthened in recent years, supported by proximity to the Gold Coast Airport and the Oceanway coastal path.

[smartcode_project_cta:default project_id=150037]

Bilinga House apartments snapped up as Greyburn commences construction

Breaking into the Sydney property market has long felt out of reach for many first home buyers, particularly as median house prices sit above $1.6 million and unit prices push beyond $900,000.

But entry points still exist in pockets of Greater Western Sydney, where pricing, government incentives, and product mix are aligning to make ownership more attainable.

Understanding where those opportunities sit, and how the numbers actually stack up, is becoming increasingly important for buyers weighing up their next move.

<h2>Work out what you can actually afford</h2>

Sydney is expensive, but it isn’t uniformly expensive. The Greater Parramatta region continues to offer comparatively accessible entry points, particularly for buyers open to alternative configurations like studios.

There's an assumption that a first home needs to be a certain size, that anything smaller than a one-bedder is a concession rather than a choice. That assumption doesn't hold up against what well-designed studios in the right location actually offer: immediate liveability, strong urban amenity, and a price point that makes the deposit target realistic rather than theoretical.

At <a href="https://www.apartments.com.au/buildings/mason-main-merrylands-249-259-merrylands-road-merrylands-nsw-2160">Mason &amp; Main</a>, <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>'s multi-award winning precinct in Merrylands, studio apartments are unlike the typical studio configuration.

Starting from $498,000, the bedroom is fully enclosed, separated from the living area by a cavity sliding door, creating a genuinely private sleeping space that functions more like a one-bedroom apartment than a traditional open-plan studio.

[smartcode_project:default project_id=31751 project_image_fid=359814]

At 42 sqm internally, with an open-plan kitchen, built-in robes, modern bathroom, and separate laundry, the apartments are designed for everyday liveability rather than short-term use.

With a five per cent deposit under the Federal Government's First Home Guarantee, that equates to a deposit of around $24,200, achievable for many first home buyers without the added cost of Lenders Mortgage Insurance.

<h2>Understand the real cost of renting versus buying</h2>

For buyers weighing up the shift from renting to owning, the numbers are closer than many expect.

Here’s how the numbers stack up for a studio at Mason &amp; Main (based on a $498,000 purchase):

<ul>
	<li>Purchase price: $498,000</li>
	<li>Five per cent deposit (First Home Guarantee): ~$24,900</li>
	<li>Loan amount: ~$473,100</li>
	<li>Estimated mortgage repayment (6.29% variable, 30-year term): ~$675–$695/week*</li>
	<li>Estimated rental return: $590–$620/week*</li>
	<li>Rental yield: 6.16% - 6.47%</li>
</ul>

At this level, the gap between renting and owning is relatively narrow, particularly when factoring in long-term equity, with rental returns also making the apartments a viable option for investors.

The rental range reflects current asking rents for remaining studio stock in the development and, based on prevailing asking prices, equates to an indicative gross rental yield of up to 6.47 per cent.

For buyers seeking more internal space, Mason &amp; Main also offers a range of one-bedroom apartments from $629,000, alongside larger one-bedroom plus multipurpose room configurations priced from $680,000 - all priced under $800,000 and eligible for first home buyer incentives.

<ul>
	<li>Purchase price: $629,000</li>
	<li>20 per cent deposit: ~$125,800 (5% deposit on exchange: $31,450)</li>
	<li>Loan amount 80%: ~$503,200</li>
	<li>Estimated mortgage repayment: ~$720–$740/week*</li>
	<li>Estimated rental return: $650–$680/week*</li>
	<li>Rental yield:&nbsp;5.37% - 5.62%</li>
</ul>

One-bedroom apartments continue to present a balanced option for both owner-occupiers and investors, supported by steady rental demand across Western Sydney.&nbsp;

[smartcode_project:default project_id=31751 project_image_fid=359812]

<h2>Make sure you're across the government incentives</h2>

Government incentives continue to play a key role in reducing the upfront cost barrier.

At Mason &amp; Main, studio, one, and two-bedroom apartments are priced under $800,000, allowing eligible buyers to access a full stamp duty exemption under the NSW First Home Buyers Assistance Scheme.

On a $498,000 purchase, that represents a saving of roughly $17,900 that would otherwise need to be paid at settlement.

Combined with the First Home Guarantee, which enables purchases with as little as a five per cent deposit, the total capital required to secure a home is significantly reduced compared to traditional lending pathways.

<h2>No waiting, no uncertainty</h2>

For first home buyers who want to move sooner rather than later, Mason &amp; Main removes one of the more common pain points from the purchase process entirely. The development is already complete and move-in ready, meaning buyers can walk through the apartments, inspect the finishes, and have full certainty about what they're purchasing before signing anything.

Coronation brought in renowned architecture firm <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> to design the development.&nbsp;

"The project's design drew inspiration from the area's rich heritage, in particular the nearby brickworks and aqueduct, infusing a contemporary perspective to seamlessly integrate historical influences into the design," Woods Bagot Principal Dom Alvaro says.

[smartcode_project:default project_id=31751 project_image_fid=736]

<h2>Factor in location and lifestyle</h2>

Beyond the apartment itself, the surrounding infrastructure matters, particularly for a first purchase. Merrylands Station sits 350 metres from the development, putting the Parramatta CBD a five-minute drive away and the Sydney CBD roughly 25 minutes via the Western Line. Directly across the road is Stockland <a href="https://www.apartments.com.au/developments/merrylands-nsw-2160">Merrylands</a>, one of Greater Western Sydney's major retail centres.

At street level, Mason &amp; Main's own retail and dining precinct has more than 30 tenants trading, including Iftar, Macelleria, Hayat, San Churro, Yuzu, and Fat Jaks. Residents also have access to a resort-style pool, a Technogym-equipped gym, private dining rooms, and a rooftop terrace with panoramic views across Parramatta, the Sydney CBD, and the Blue Mountains, all exclusive to the building.

Due to the mix of configurations, including studios which are rarely offered in today's new apartment market, first home buyers and investors have driven Mason &amp; Main to over 90 per cent sold.

Coronation Property Managing Director Joe Nahas says the development is driving a revitalisation of Merrylands, setting a high standard for future developments in the area.

Mason &amp; Main is move-in ready and is the latest in a series of award-winning mixed-use developments by Coronation Property.

Disclaimer: Mortgage repayment figures are estimates only, based on a 6.29 per cent variable rate over a 30-year term (Canstar, April 2026). Pricing and rental estimates are indicative and based on current listings and project information. Gross yield figures are indicative and derived from asking prices and estimated rental ranges. Stamp duty savings are indicative only. Buyers should seek independent financial and legal advice before proceeding.

[smartcode_project_cta:default project_id=31751]

How first home buyers can enter the Sydney property market for under $500k

Australia’s housing debate has rarely been more urgent. The National Housing Supply and Affordability Council forecasts the country could fall around 262,000 homes short of housing needs by 2029, underscoring the scale of the challenge facing planners, governments and developers.

In response, much of the conversation has centred on high-density towers around transport corridors and strategic centres.

Diversified developer Coronation Property, while also focused on well-located, strategic sites, is incorporating an arguably underutilised typology, the terrace.

Difficult to integrate into true high-rise developments, terraces have become a defining feature of Coronation’s lower-rise portfolio, including projects in Ashbury and Erskineville. <a href="https://www.apartments.com.au/buildings/ashbury-terraces-165-171-milton-street-ashbury-nsw-2193">Ashbury Terraces</a> places a stronger emphasis on this housing type, forming part of a broader community mix.

At its Erskineville development, <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, terraces are more limited, with just a handful&nbsp;included within the wider, predominantly apartment-led precinct, one of the first developments to launch in Erskineville in several years.

[smartcode_project:default project_id=135149 project_image_fid=368392]

Terrace residents at Lillian benefit from many of the same advantages as apartment owners, the lock-up-and-leave lifestyle and access to shared amenities like the rooftop wellness space, but with significantly more space.

Spanning multiple levels, the terraces also feature front and rear courtyards, providing direct access to the central landscaped gardens within the precinct.

<h3 data-end="212" data-section-id="1n97jye" data-start="191">The terrace model</h3>

Terrace housing has long been part of Australia’s urban fabric. From Paddington and Surry Hills to Glebe and Annandale, rows of terrace homes have shaped neighbourhood streets, offering a housing form that sits between detached houses and apartments.

The contemporary terrace, however, addresses many of the limitations of older designs, where narrow staircases and constrained layouts often compromised liveability.

[smartcode_project:default project_id=135149 project_image_fid=368157]

“Terraces represent one of the city’s most intelligent housing models,” says Joe Nahas, Managing Director of Coronation Property.

“They deliver density without losing the human scale that makes neighbourhoods liveable. In many ways, they provide a bridge between the Sydney we know and the Sydney we need to build. If Sydney is going to grow well, it can’t rely on towers alone.”

<hr data-end="1090" data-start="1087" />
<h3 data-end="1124" data-section-id="1a7l0gw" data-start="1092">The evolution of the terrace</h3>

That thinking has shaped Coronation’s approach at Ashbury Terraces, where the terrace typology has been reinterpreted for modern living.

Designed by SJB, the project recently received recognition at the 2026 Better Future World Design Awards, acknowledging its architectural clarity and response to the surrounding suburban context.

SJB Director Adam Haddow says the intent was to evolve a familiar housing form rather than reinvent it.

“The terrace is one of Sydney’s most familiar housing forms, so our approach at Ashbury was to reinterpret that typology in a contemporary way,” Haddow says.

“The homes are designed to sit comfortably within the existing neighbourhood while introducing more light, landscape and shared spaces that support modern living.”

Ashbury Terraces combines terraces, apartments and penthouses across a series of low-rise buildings, integrating contemporary architecture with landscaped communal spaces and resident amenity.

That same typology is now being carried into Coronation’s Lillian development in Erskineville, where a smaller number of terraces sit within a predominantly apartment-led precinct.

<hr data-end="2269" data-start="2266" />
<h3 data-end="2289" data-section-id="cazuws" data-start="2271">Buyer response</h3>

Coronation’s decision to include terraces at Lillian was informed by strong buyer feedback from Ashbury Terraces, where purchasers were drawn to the flexibility and scale the housing type offers.

One resident, Sweta Pursem, purchased a terrace as a single buyer, citing its long-term versatility.

“As a single buyer, it might seem surprising that I chose a terrace over an apartment, but I was thinking long term,” Pursem says.

“The terraces are incredibly versatile, catering to a range of lifestyles while still offering the space and privacy of a house.”

For Pursem, the multi-level layout provides a level of functionality not typically found in apartment living.

“Having a separate living area from the bedroom and home office makes everyday living feel both functional and comfortable. When friends and family come to visit, the layout gives a sense of privacy while still feeling open and spacious.”

Her terrace also supports a more connected, lifestyle-driven way of living.

“I love entertaining, and the courtyard is ideal for relaxed weekend drinks with friends. I tend to use each level differently throughout the day, it creates a natural rhythm between work, downtime and entertaining, which I didn’t have in apartment living.”

Ashbury Terraces is now complete and ready to move in, while Lillian in Erskineville is under construction and expected to welcome residents in mid-2027.

Coronation champions terraces as a key piece of Sydney’s housing mix

Private equity real estate firm Conquest has entered into a $220 million partnership with Woolworths’ development arm, Fabcot, to deliver its long-awaited Waterloo project on Bourke Street.

The Bourke Street development was first flagged by Fabcot back in 2021 as part of its push into Sydney’s residential market. However, progress has since stalled, with no activity on site amid a number of design revisions in consultation with the City of Sydney.

<a href="https://www.apartments.com.au/developers/conquest">Conquest</a>, which is actively planning more than $6 billion worth of new developments, predominantly mixed-use precincts, is now set to move the project forward.

The current plans include between 110 and 120 apartments across two buildings designed by Bates Smart at <a href="https://www.apartments.com.au/new-apartments/923-935-bourke-street-waterloo-nsw-2017">923 Bourke Street</a>. The scheme will incorporate a portion of apartments reserved for key workers, alongside premium commercial space at ground level, including a full-line Woolworths supermarket.

Construction is expected to commence in the second half of 2026.

Michael&nbsp;Akaawi, CEO of Conquest, said the partnership reflects the firm’s commitment to "convenience-led" urban renewal."

"We are preparing to commence construction in the second half of this year," Akaawi says.

"Along with Woolworths, we look forward to delivering the first major supermarket to the growing Waterloo community, integrated with premium new apartments and specialty retail shops. Our focus is on creating a seamless lifestyle hub where essential services are at the doorstep, saving residents time and enhancing their quality of life."&nbsp;

<img alt="Conquest" data-entity-type="file" data-entity-uuid="d8beee83-ef9b-446b-a3b3-1e2fe596512b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-01%20at%2011.08.46%E2%80%AFAM.png?VersionId=raYhGepiLUJfx4InLPRRJduA3ftDJ_kS" />

The news comes just a week after Conquest went to the NSW Government to upsize its plans for Castlecrag's Quadrangle Shopping Centre.

Conquest purchased the site for just shy of $70 million last year, with existing plans in place for a mixed-use residential and retail precinct comprising 38 luxury apartments.

Those plans have now been significantly expanded, with the developer lodging a State Significant Development Application with the NSW Government’s Housing Delivery Authority for 150 apartments across two 11-storey buildings. The apartments will sit above a four-storey podium, incorporating specialty retail tenancies and five levels of basement car parking, on the 5,166 sqm site at&nbsp;<a href="https://www.apartments.com.au/new-apartments/100-edinburgh-road-castlecrag-nsw-2068">100 Edinburgh Road</a>.

Conquest has been increasingly active in the development space in recent years. The group acquired the&nbsp;<a href="https://www.apartments.com.au/developments/eastlakes-nsw-2018">Eastlakes</a>&nbsp;Shopping Centre redevelopment, where it plans to deliver more than 1,000 apartments above a new retail precinct, and has also lodged a $900 million State Significant Development Application for a&nbsp;<a href="https://www.apartments.com.au/news/nsw/conquest-unveils-900m-stanmore-village-vision-for-landmark-inner-west-site">mixed-use precinct in Stanmore</a>.

Conquest partners with Woolworths to deliver mixed-use Waterloo project

A shift away from Sydney’s industrial past has left parts of the inner south defined by contrast, brick warehouses repurposed into dining precincts, former factory streets softened by landscaping and pedestrian activity.

Rosebery is one of those suburbs. Over the past decade, it has undergone significant gentrification, anchored by The Cannery, which has helped reposition the area as one of the inner city’s most sought-after lifestyle pockets.

What hasn’t kept pace with that transformation is new residential supply, which has remained relatively limited. Builder-developer Deicorp identified that gap early, securing a site in 2019 and delivering what is now one of the suburb’s most architecturally distinctive developments.

To realise the vision, Deicorp engaged Candalepas Associates to design The Rothschild, a project that is immediately recognisable from the street.

Completed in 2025, The Rothschild comprises two buildings across Rothschild and Mentmore Avenues, delivering 176 apartments. The development replaces a former industrial site, retaining a material and structural dialogue with its past while introducing a more resolved residential framework. The scale is deliberate but not monolithic, broken into forms that engage both street frontages, with retail at ground level and two levels of basement parking below.

[smartcode_project:default project_id=106843 project_image_fid=221665]

From the street, the architectural intent is clear. Off-form concrete columns run through the façade, establishing a repeated structural rhythm that gives the building its visual weight. These are paired with deep-set arches and sections of exposed brickwork, creating a layered elevation that reads less like a typical apartment block and more like a reinterpretation of industrial architecture.

The material palette is intentionally restrained, with concrete left exposed and brick used to define mass rather than decoration. The result is a building that stands out through proportion and repetition, rather than height or glazing.

This approach continues internally. A central landscaped courtyard sits between the two buildings, anchored by an olive grove that acts as both a visual and spatial focal point. Rather than functioning as residual space, the courtyard is designed as a shared ground plane, where circulation paths, seating areas and planting come together to create a usable communal environment. Its positioning allows natural light to penetrate deep into the site while maintaining separation between residences.

[smartcode_project:default project_id=106843 project_image_fid=221666]

Within the apartments, the planning follows a clear and functional logic. Entry points lead directly into open-plan living areas, with kitchens positioned as central elements alongside dining and lounge spaces. These zones extend to balconies or external openings, maintaining a visual connection to either the courtyard or the street.

Kitchens prioritise practicality, with generous bench space, ample storage and European appliances configured for everyday use. Bedrooms are typically set back from the main living areas, creating quieter zones within each residence, with separation achieved through layout rather than material change. Bathrooms are compact but efficient, incorporating mirrored cabinetry and integrated storage to maximise space. Across all residences, the emphasis is on clarity of movement and functional planning.

[smartcode_project:default project_id=106843 project_image_fid=221669]

At ground level, retail and hospitality uses extend the building’s presence beyond its residential function. A café or restaurant space, alongside communal amenities such as a music room and rooftop areas, positions the development as part of a broader urban network rather than a standalone project. These shared spaces reinforce a lifestyle where the building operates as an extension of the surrounding neighbourhood.

Rosebery’s proximity to Green Square, The Cannery and nearby parklands supports this model of living, where much of daily life is within walking distance. The Rothschild sits comfortably within that network, contributing to the streetscape through its distinctive architecture, while internally organising space around light, structure and communal use.

The Rothschild is now complete and ready to move in, with limited residences remaining.

[smartcode_project_cta:default project_id=106843]

Joel Robinson

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