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The Federal Government has let its housing affordability inquiry lapse.
News of the quashed inquiry emerged through Fairfax Media's commentator Peter Martin as Treasurer Scott Morrison delivered a speech in which he declared housing affordability to be an "important policy focus" of the Turnbull government in the new parliamentary term.
The inquiry was initiated by Morrison's predecessor, Joe Hockey early last year to be undertaken by the House of Representatives economics committee and chaired by Liberal backbencher John Alexander.
Alexander was replaced as chairman by Liberal MP Craig Laundy after hearings concluded in September last year.
Mr Laundy has told Fairfax Media he had worked on a draft report with the committee secretariat.
But he wasn't able to put it to the committee before he was promoted to the ministry and replaced with backbencher David Coleman shortly before the July election.
Under the rules governing committees, the inquiry lapsed with the election, meaning Mr Coleman is unable to conclude the report without a fresh referral from the Treasurer.
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jchancellor-FAypfDUnLy

Federal Government lets housing affordability inquiry lapse

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Confirmation came last week that Australia's richest female executive, Maxine Horne was the $9.3 million buyer of a Noosa beachfront.
<a href="https://www.realestate.com.au/sold/property-house-qld-sunshine+beach-118069215" target="_blank">Listed through Offermann Real Estate</a>, the five bedroom on 1460 sqm set a Noosa district record.  
Horne has been splashing in the property market having recently spent $10.5 million on a three-level riverfront home in New Farm.
She recently sold 28 percent of her stake in the Vita Group company that she co-founded over two decades ago, selling off $42 million worth of shares.
This article was first published in the Weekend Australian Mansion Australia property section.
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Maxine Horne emerges as Noosa $9.3 million record buyer

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A Vaucluse mansion has been sold at close to $47 million.
The <a href="https://www.realestate.com.au/property-house-nsw-vaucluse-120427321" target="_blank">Peter Stutchbury-designed Carrara Road</a> has been reportedly bought by Strathfield-based Sanity boss Ray Itaoui and his wife Rachel.
They bought from global financier Andrew Ipkendanz some three years after it was listed with hopes of breaking Australia’s housing price record.
The unconfirmed sale through Alison Coopes is the country’s biggest single dwelling sale so far this year.
<img src="/images/2016/10/26/Carrara2.jpg" alt="" width="470" height="245">
The Peter Stutchbury-designed residence was originally listed with hopes of $60 million but discounted to $53 million last year by Alison Coopes, of Agency by Alison Coopes, Fairfax Media reported.
Set over four levels with a lift, the 2000 sqm property comes with nine bedrooms, ten bathrooms, vast formal and informal living areas, games room and a 20-metre pool.
It's construction was reported to have exceeded $25 million.
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Vaucluse mansion sells for nearly $47 million, 2016's most expensive

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<img src="https://counter.theconversation.edu.au/content/66394/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Last week Fairfax Media reported that the Parramatta Light Rail is set to cost the NSW government not A$1 billion (together with part of the proceeds of a levy on new residential developments), as budgeted, but a whopping A$3.5 billion.
People could be forgiven for thinking that the revelation of a A$3.5 billion price tag is surprising, and much higher than expected from what’s been budgeted. But as a new Grattan Institute report shows, cost overruns in public transport infrastructure are far too common.
The report is the first comprehensive Australian study of all 836 transport infrastructure projects valued at A$20 million or more and planned or built since 2001. It reveals that over the past 15 years, Australian governments have spent A$28 billion more on transport infrastructure than they told taxpayers they would spend. Much of this overspending should never have happened. 
The A$28 billion over the originally promised costs does not stem from the accumulation of small cost overruns on most projects. Rather, most projects come in reasonably close to their original announced cost, as the figure below shows. The problem is that when projects do run over, it can be spectacular: 90 percent of the cost overrun problem is explained by the 17 percent of projects that overran their cost promise by more than 50 percent.
<a href="/images/2016/10/26/image-20161023-15963-pm2um9.png" target="_blank">Click to enlarge</a>
<h4><img src="/images/2016/10/26/image-20161023-15963-pm2um9.png" alt=""></h4>
<div class="enlarge_hint"> </div>
The main culprit for this startling finding is premature announcements. Ministers and shadow ministers frequently promise to build a road, bridge or rail line for a particular cost, especially in the lead-up to an election. 
History shows that projects with costs announced before a formal budget commitment are at much more risk of a large cost overrun than those announced when they are better developed. Over the past 15 years, 74% of the total value of cost overruns is explained by the 32% of projects announced early.
The poor performance of projects with early announcements is not just a warning to mistrust politicians’ promises. Premature cost announcements continue to haunt projects throughout their lives, as the figure below shows.
<a href="/images/2016/10/26/image-20161023-15930-107f13l.png" target="_blank">Click to enlarge</a>
<h4>
<img src="/images/2016/10/26/image-20161023-15930-107f13l.png" alt=""> 
</h4>
It is not common practice to analyse projects from as far back as when they are first announced, but it should be. Once politicians have announced a project, they and the public treat that announcement as a commitment. They are right to do so: two-thirds of these projects end up being built. 
In fact, it is not common practice to analyse the cost outcomes of infrastructure projects in any systematic way. Analysts are hindered by the absence of meaningful reporting on the outcomes of these projects – by the lack of information on how well they performed against the costs and benefits, such as travel time savings, that were used to make the original investment decision.
Failing to collect and aggregate information about past projects also hampers those trying to estimate what today’s projects will cost. Without actual Australian data on past projects, cost estimators may be able to factor in the prices of equipment, material and the workforce, but they can’t factor in how to protect against unusual and unforeseeable events that can have a big impact – “unknown unknowns”.
Today’s projects suggest we are not learning from history. For every project, cost estimators forecast what they expect the project will probably cost (known as a “median” or “P50” cost estimate), and also what it could cost for the one in ten times that a project will probably go over budget – a “worst case” cost estimate (known as a “P90”). 
The experience of the past 15 years shows that the difference between the median cost estimate and the “worst case” cost estimate is 21% on average for transport infrastructure projects valued at A$20 million or more. 
But cost estimates for current projects do not reflect this experience. Instead, the difference between the median and “worst case” estimates is generally about a third to a half this size. Judging by recent history, this suggests that either the median cost estimate is too high or – more likely – the “worst case” cost estimate is too low. 
What’s wrong with this approach is that it probably won’t be one in ten projects that governments are expecting, but actually more likely one in three, that go over the “worst case” estimate. 
Our research also shows that, if history is any guide, these overruns will be bigger than expected. Some of today’s big-budget projects that have these surprisingly low “worst case” cost estimates are the Inland Rail between Brisbane and Melbourne, Sydney’s WestConnex and Melbourne’s Western Distributor.
This is not to slight the motives or the abilities of cost estimators, who deal with intrinsically uncertain costs. But without historical information to draw on, these estimates are inherently limited. The evidence is clear: over the past 15 years, cost estimators expected between 10% and 25% of projects to exceed their budget. In fact, 34% did so.
<h2>Policy changes required</h2>
The solutions are within reach. Governments should not commit to building transport infrastructure before tabling a proper evaluation and the underlying business case in parliament. And once a project is completed, governments should report to the public on how it performed against the costs and benefits behind the original decision to invest. 
Governments can also improve project assessment methodologies, collect and publish data that would enable cost estimators to learn from experience, and manage contingency funds with more discipline. 
We must start to learn from history. Our infrastructure systems should promise what is worth having, and then deliver what is promised.
Marion Terrill is transport program director, Grattan Institute and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/marion-terrill-169480" target="_blank">here</a>.
 
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Spectacular cost blowouts show need to keep governments honest on transport

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GUEST OBSERVER
The latest available China housing data reports that the pick up in house price momentum in August was sustained in September, across both new and existing markets.
For new housing, 63 cities reported price gains in the month, broadly in line with August’s 64 and the recent peak of 65 in April 2016. Emphasising the breadth of the improvement in 2016, a year ago only 37 cities reported price gains.
The secondary market improved further in September with 60 cities reporting price gains in the month. That contrasts to 57 in August 2016; 54 in March 2016; and 40 a year ago. Only 7 cities are currently experiencing price declines – the best result for this metric since end-2013.
<a href="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.24.07%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.24.07%20PM.png" alt="">
Investigating annual price growth by tier, 2016’s key themes endured in September. Price growth of near 30 percent/yr continues to be seen on average in tier- 1 cities, across both new (29.4 percent/yr) and existing (33.0 percent/yr) markets.
Also, the tier-2 averages gained further momentum, from 9.1 percent/yr to 11.1 percent/yr for new and 7.6 percent/yr to 9.0 percent/yr for existing. Meanwhile, tier-3 price growth remains fickle, new and existing house prices up 6.6 percent/yr and 4.4 percent/yr respectively.
<a href="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.17.44%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.17.44%20PM.png" alt="">
As we have previously highlighted, the most interesting aspect of the price data is not the tier averages, but rather the city-by-city detail.
Herein we continue to see strong evidence of speculative demand, with a wide spectrum of price activity by city.
In tier-1, against the 29 percent/yr average result for new housing: Shenzhen price growth has slowed from near 63%yr in April to 34 percent/yr currently; over the same period, price growth has accelerated from around 17 percent/yr to 27 percent/yr and 23 percent/yr respectively in Beijing and Guangzhou. Shanghai has been stable near 30 percent/yr.
In tier-2, against the 11 percent/yr average: Hefei and Nanjing are currently seeing price growth of 46 percent/yr and 40 percent/yr, while many other cities such as Dalian are broadly flat year on year.
Similarly in tier-3, against its 6.6 percent/yr average for new housing, annual price growth varies between 47 percent/yr in Xiamen to –4.5 percent/yr in Jinzhou.
Clearly, cities with close ties to tier-1 and/or new industry are attracting investors (and owner occupiers); but elsewhere, demand is lacking.
<a href="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.19.11%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.19.11%20PM.png" alt="">
Given the disparate conditions across the nation, the divergence between sales and starts is likely to persist as significant inventory of unsold new homes lingers in many jurisdictions.
Indeed, even in areas where price growth has been strong, developers have cause to manage new supply carefully so as to see prices sustained at high levels. This is particularly true if authorities impose further restrictions in ‘overheated’ markets.
<a href="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.20.27%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.20.27%20PM.png" alt="">
As a consequence, while it has improved through 2016, growth in real estate investment is likely to remain soft relative to history, providing only modest support to manufacturing and commodity prices.
<a href="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.21.44%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.21.44%20PM.png" alt="">
As a final point, note that the strong price gains witnessed over the past year pose a risk to services activity into 2017. Chinese households remain willing to invest in property despite the higher cost, but doing so could crimp their ability and willingness to spend elsewhere. This is particularly true if job creation in the construction sector and related areas disappoints. 
<a href="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.22.47%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2012.22.47%20PM.png" alt="">
 
Elliot Clarke is senior economist, Westpac and can be contacted <a href="https://www.westpac.com.au/" target="_blank">here</a>.
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Pick up in China housing data sustained: Westpac's Elliot Clarke

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GUEST OBSERVER
The NSW government is facing a budget shortfall with land related transactions and total stamp duty collected below current budget forecasts for the first three months of the 2016- 2017 financial year, according to the Real Estate Institute of New South Wales. 
Data from the NSW Office State Review shows that for July, August and September 2016 both the number of land related transactions and the total stamp duty collected from those transactions is less than for that period last financial year. 
The NSW Government’s failure to address stamp duty bracket creep is beginning to hit them in the hip pocket. It's time to review and amend the out-dated stamp duty brackets that are inhibiting people from buying and selling property in NSW. 
There were 60,034 land related transactions in the first three months of the 2015-2016 financial year and this financial year there have been only 54,582. Last month, there were 17,988 transactions compared to 20,447 in 2015, some 12 per cent less. 
Approximately $2.157 billion in transfer duty was collected from land transfer transactions in the first 3 months of 2015. This financial year some $2.019 billion or $138 million less has been collected. The total Budget for 2016-17 for “All” transfer duty is $8.777 billion and at the current rate the NSW is facing a budget shortfall.
If not for the continued value growth the loss of budgeted revenue could be far greater. It's on a slippery slope unless government can find ways to generate more activity.
It is a disgrace that stamp duty bracket creep has not been reviewed for the past 30 years and Government's failure to address this issue is unconscionable and the market is now punishing them for it.
John Cunningham is president, REINSW, and can be contacted <a href="https://www.reinsw.com.au/imis15_Prod/web" target="_blank">here</a>.
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NSW land, property transactions fall: REINSW

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The photographer Mark Morffew has listed his ultra bright designer pad overlooking Bondi Beach.
Accessed through an expensive private front courtyard, <a href="https://www.realestate.com.au/property-apartment-nsw-bondi+beach-123870394" target="_blank">the two bedroom, two bathroom apartment</a> comes with interiors by Lawless &amp; Meyerson.
The walls are lined with photographic works.
The living and dining areas flow onto an ocean-facing terrace.
The master bedroom offers terrace access and the second bedroom opens to a rear entertaining courtyard.
Belle Property Double Bay agent Albert Sassoon has a November 16 auction date.
One of the blocks most recent sales came in May when other two bedroom apartments sold for $3.8 million and at $4.2 million. 
He paid $2.9 million for the 94 sqm Notts Avenue apartment.
The Pacific Terraces development was undertake by Bill Shipton in 1983 with financing from the late Kerry Packer.
This article was first published in the Sunday Telegraph.
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Mark Morffew lists at Bondi Beach through Belle Property

You don’t address housing affordability by crashing the housing market: Scott Morrison

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Renowned winemaker Grant Burge has bought Lorndan Vineyard in the Adelaide Hills from the Pinchbeck family.
The 25-hectare boutique property at Gumeracha includes 20 hectares of vines planted in 1995 and supplies fruit to Penfolds Yattarna, Bin A and Cellar Reserve wines with a contract continuing until 2019.
About 15 hectares is planted to Chardonnay, with yields averaging between 10-12 tonnes per hectare.
The vineyard is 37km from the Adelaide CBD and close to the Barossa Valley, where the Burge family operates the Illaparra Winery and cellar door at Tanunda and whose involvement in the wine industry dates back to 1855. 
Mr Burge and his wife Helen sold the Grant Burge wine business along with the historic Krondorf Winery, to Accolade Wines, in December 2014 with speculation the price paid was about $50 million.
The couple founded Grant Burge Wines in 1988. At the time of its sale to Accolade Wines it sold around 450,000 cases of wine in the domestic market each year, and 150,000 cases overseas.
The Australian Financial Review subsequently revealed that Grant Burge Wines tumbled to a loss of $9.4 million after generating sales of $40.4 million in its last 12 months as an independent company. It had been seeking an equity investor as nervous bankers worried about its future, before Accolade stepped in with a full buyout offer in late 2014. 
"The Lorndan Vineyard is a standout Adelaide Hills vineyard providing a unique combination of healthy yields and very good grape prices, particularly for Chardonnay," said selling agent Toby Langley, managing director of winebrokers Gaetjens Langley.
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Grant Burge buys in the Adelaide Hills

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The $70 million irrigated farming property that producers of the famous Menindee Seedless grapes has been listed for sale.
Evergreen Farms in Central Queensland is one of Australia's largest horticultural operations.
Evergreen is the major supplier of Menindee Seedless, Flame Seedless and Crimson Seedless grapes that make their way into IGA, Coles, Woolworths and ALDI. 
CBRE Agribusiness have been appointed to sell the 5077-hectare farm at Emerald.
About 403 hectares are planted to table grapes, 29 hectares planted to lychees and 353 ha developed and ready for planting. 
The vendors Pacific Century Group invested more than $100 million to transform what was once a cattle grazing block, now positioned to benefit from growth in exporting.
The property also has a flood margin licence to occupy 1230 hectares adjacent to Fairbairn Dam.
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$70 million Menindee Seedless grapes holding for sale in Central Queensland

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

&nbsp;

&nbsp;

fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

&nbsp;

FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Jonathan Chancellor

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