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There's a little-known government reverse mortgage scheme, the pension loan scheme (PLS), which will necessarily become part of Minister for Social Services Scott Morrison's solution to the pension assets test conundrum.
Most people may not be aware that the scheme exists and although the PLS is listed <a href="https://www.humanservices.gov.au/customer/services/centrelink/pension-loans-scheme" target="_blank">on the Centrelink website</a>, it does not appear prominently. 
My barber told me about it. 
The issue has arisen given the proposal that family homes should be included in the assets test, raised last year in the Abbott government’s National Commission of Audit and <a href="/expert-insights/investing/scott-morrison-re-considering-family-home-inclusion-in-pension-assets-test">a hot topic last wee</a>k. 
Morrison suggested he would be addressing the rules that deter the elderly from selling the family home and then downsizing to a smaller, cheaper properties, while allowing pensioners to retain some cash without reducing their entitlements.
However the government scheme is currently only available to better-off retirees exchanging equity in their homes for a loan that is repaid from the proceeds when the home is eventually sold, the interest on the loan being capitalised.
The Centrelink and Department of Veterans' Affairs scheme is restricted to those on a part age pension, who own their own home or investment property.
The loan has to be taken as an income stream and is limited to that which, when added to the part-pension, takes them to the maximum pension.
The interest rate is 5.25% and fixed, which is much lower than the variable interest rates charged by reverse mortgage providers in the wider marketplace.
But oddly retirees who are poor enough to be on the full age pension and who own their own homes are currently unable to boost their income through the government scheme.
Self-funded retirees who own property can access the scheme if they are ineligible for the age pension under either the income test or the assets test, but if they are ineligible for the age pension under both tests, they cannot access the scheme.
The Australia Institute says the scheme<a href="https://www.tai.org.au/content/can-you-eat-family-home" target="_blank"></a> is available to retirees who need it the least and says the scheme should be made available to everyone of pension age.
"This may seem consistent with the broad goals of means testing," the institute suggested in the 2014 report, <a href="https://www.tai.org.au/content/boosting-retirement-incomes-easy-way-0" target="_blank">Boosting retirement incomes the easy way - Extending the Pension Loan Scheme to all retirees</a>.
"Those with both high income and high value assessable assets cannot use the PLS.
"But it also has consequences that seem perverse. A retiree with income just under the threshold and very high value assets can use the PLS, as can a retiree with very high income but assessable assets just under the threshold.
"But a single retiree with just over $202,000 in assessable assets and just over $160 private income a fortnight cannot access the scheme, as their pension is reduced under both tests."  
On the Australia Institute's numbers complied by researchers, Richard Denniss and Tom Swann, the scheme could be expanded without significant cost to the budget. 
"A simple modification to the PLS that would, in making it fairer, significantly help to boost the retirement incomes of a large number of current retirees," the report said. 
The Australian government will spend around $36 billion in 2014-15 on tax concessions for superannuation, the stated purpose of which is to increase retirement incomes.
The PLS has been in place in some form since at least 1986, and the interest rate has since been adjusted.
The researchers noted it was unlikely that governments and policymakers would have let a costly but regressively targeted loans scheme remain in place without it attracting attention – especially given current concern about budget deficits.
They then noted that the PLS is not mentioned in the 2012-13 Department of Human Services Annual Report and the Australian Instutute could not find mentions in previous annual reports.
Nonetheless, it is likely the scheme is run at a low cost to the government and could be expanded on a cost-neutral basis, it is suggested.
Indeed, given current concerns about the budget deficit now and down the track, the Abbott Hockey government could readily reform the scheme so that it actually generates revenue.
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jchancellor-FAypfDUnLy

Scott Morrison's budget solution rests with revised pension home loan scheme

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Any Sydney property correction will be one of stagnation not a short sharp drop, the Melbourne buyer's agent Richard Wakelin has forecast.
Describing the run-up in Sydney prices as "rational", the director of Wakelin Property Advisory suggests it was "reasonable to assume they will stop pushing up prices once a point is reached where valuations can't be justified based on rental returns or mortgage servicing costs".
"Yes, we might see an overshoot and a correction, but the correction will probably be characterised by a period of stagnant prices for several quarters rather than a short sharp drop in prices," he told the Australian Financial Review noting Sydney property prices rose 29% over the two years to December 2014.
The growth in Melbourne was 14% while most other capitals saw price growth in single figures.
He notes much of the strong price growth in Sydney had been "catch-up" with prices in Sydney only up 57% since September 2003, based on ABS data, while Melbourne was up 89%.
"To some extent, we may well be seeing a return to normal circumstances where Sydney property enjoys a 20% premium over its southern counterpart due to higher incomes, a larger population and a greater scarcity of land."
But he warns any RBA policy mistake in relation to Sydney property carried greater consequences than elsewhere noting, with the media concentrated in Sydney, any downturn could be amplified in a manner that could damage confidence nationwide.
{mijopolls 93}
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Sydney's property correction will see stagnation, not short sharp drop: Richard Wakelin

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Westfield shopping centre operator Scentre Group chief executive Peter Allen says the group had benefited from the recent demerger.
“The establishment of Scentre Group has allowed management to focus exclusively on the opportunities in Australia and New Zealand,” he said.
Scentre Group announced results for the six months to 31 December 2014 with arising from its ownership of 47 Westfield centres, including 14 of Australia’s top 20 performing centres, and has assets under management of $40.9 billion.
At 31 December 2014, the portfolio remained more than 99.5% leased, while average specialty retail sales in Australia had increased to $10,200 per square metre.
For the 12 months to 31 December 2014, comparable property net operating income across the Australian and New Zealand portfolio increased 2.2%.
Scentre Group has an identified future development pipeline in excess of $3 billion.
This year it commenced new developments at Chatswood and North Lakes with a combined value of $190 million, with the Scentre Group share being $150 million. 
In 2014, Scentre Group completed the $410 million development at Westfield Garden City in Brisbane and the major stage opening of the $475 million (Scentre Group's share $238 million) development at Westfield Miranda in Sydney.
Scentre Group’s development activity also includes two design and construction projects that are being undertaken for AMP Capital. The $440 million development at Macquarie Centre was opened in the second half of 2014, and the Group continues to make good progress on the $670 million development at Pacific Fair that is expected to be completed in 2016.
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Scentre benefits from narrower retail focus

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Lower interest rates may do nothing more than inflate property prices, according to Bank of America Merrill Lynch's Australian economist Saul Eslake.
Eslake suggests further cuts to the cash rate "may be relatively ineffective in directly stimulating improved levels of activity in the economy over the short-term".
However he is tipping a second 25 basis point cut to 2%.
Eslake predicts an increase in the median national dwelling price from an average $469,000 to $497,000 in 2015, along with debt metrics at levels not seen since the heady days before the onset of the global financial crisis.
"Indeed, on the majority of measures and metrics Australia's household debt level is already high compared to our own history and other developed nations," he said.
"The household sector holds more debt than the non-financial business sector and all levels of government combined.
"And as a proportion of GDP [it holds] more than any other comparable developed economy," he said.
Constraints on fiscal spending, the federal government's inability to push through budgetary reforms, and state governments' reluctance to sell public assets had added to pressure on the RBA, Eslake said.
"The RBA finds itself in a difficult position," he told the Australian Financial Review.
"Households with a mortgage continue to pay the same mortgage amount each month with only the principal and interest proportions altered," he said.
"In this way, lower interest rates have largely been cashflow neutral."
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Saul Eslake tips another RBA rate cut, but wonders on its effectiveness

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Businessman Ian Gowrie-Smith has sold his Finger Wharf apartment on Woolloomooloo Wharf reportedly to the car dealer, Paul Warren.
<a href="https://www.realestate.com.au/property-apartment-nsw-woolloomooloo-116222899" target="_blank">The three bedroom apartment</a> was bought from car dealer Neville Crichton in 2001 for $5 million by the former pharmaceutical industry entrepreneur, Gowrie-Smith.
Privately positioned at the tip of the Finger Wharf, it is a garden apartment with 600 square metre space.
It is one of nine purpose built residences within this exclusive address.
The three bedroom waterside residence was listed through agents Peter Blacket and Ken Jacobs.
The initial hopes were $8 million plus, but it is understood to have sold for around $7.1 million.
The finger wharf apartments were completed in early 2000 by developer Lang Walker after the world's largest timber-piled wharf had been saved from demolition in 1991.
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Ian Gowrie-Smith sells Woolloomooloo Finger Wharf garden apartment

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Sydney’s median residential land price increased by 19.7 percent over 2014 to $390,000, he most expensive of all the state capitals, according to data from the Domain Group. 
The $390,000 December quarter median land price was well ahead of Melbourne at $245,000 and Brisbane $237,950.
With Sydney residential land prices now rising faster than booming house prices, the task for first home buyers is becoming increasingly difficult, said Andrew Wilson, senior economist at the Domain Group.
“Sydney’s annual land prices increased at the fastest rate in over a decade and recorded stronger growth than the booming house prices which increased by 14% over the same period.”
Sydney’s outer suburban residential land market recorded strong growth over 2014.  Prices in the south-west increased by 25% to a median of $350,000 while prices in the west rose by 8.3% to a median of $410,500. 
The median residential land size sold in the west over the six months ending December was 564 square metres  at $759 per square metre.  In the south-west, the median land size sold was 500 square metres at $652 per square metre.
The most popular outer west suburbs for land sales over the six months ending December 2014 were Riverstone, Colebee, Pitt Town, Kellyville and Glenmore Park. 
The most popular outer south west suburbs for land sales were Harrington Park, Campbelltown, Moorebank, Appin and Edmondson Park.
Kellyville recorded the highest median land price over the second half of 2014 at $643,000 with a median land size of 701 square metres at $912 per square metre. Land prices in Kellyville increased strongly by 38.2% over 2014.
Kellyville land estate prices on realestate.com.au regularly exceeded the APM advisory such as <a href="https://www.realestate.com.au/property-residential+land-nsw-kellyville-200988363" target="_blank">Chelsea on the Park</a> where prices started at $730,000 for 700 square metre blocks, and were priced up to $860,000.
There were prices advertised last year as $400,000 plus on <a href="https://www.realestate.com.au/property-residential+land-nsw-kellyville-201014799" target="_blank">Hillview Ridge Estate</a>, ranging from 667 square metres to 826 square metres.
The blocks priced from $465,000 at the <a href="https://www.realestate.com.au/property-other-nsw-kellyville-119089259" target="_blank">Ashmore Park</a> estate are 363 square metre to 847 square metre in size. 
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Kellyville leads Sydney in fastest residential building block price escalation in over a decade: APM

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Dogs don't typically feature in real estate marketing campaigns, or for that matter work when they do, but Title Tattle loved this one.
Adrian Oddi at BresicWhitney Balmain secured $2.75 million for the five bedroom, four bathroom house at weekend auction.
It was a 236 square metre offering at 8 Byrnes Street, Rozelle.
<a href="https://www.bresicwhitney.com.au/buy/8-byrnes-street-rozelle-10401" target="_blank">The price guide was over $2.5 million</a>, whippet not included. Title Tattle ascertained the dog's name is Jasper. He's apparently extremely timid but loved the camera at the photo-shoot!
However he wasn’t there at the not quite sultry weekend auction, apparently too nervous. 
"He went to the dog park instead," Adrian, the selling agent told Property Observer.
There was rental guidance for investors of potentially $1,800 to $2,000 per week.
The Tony McLain architect plans were approved by council in 2011 for the new home.
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No dog day as Rozelle offering fetches $2.75 million

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Consolidated Pastoral Company (CPC), Australia’s largest privately owned beef producer, has completed the acquisition of Bunda Station in the Victoria River District, Northern Territory.
Founded as part of the famed Inverway Station in 1894, Bunda has been owned by the Underwood family since 1956.
The 178,800 hectare breeding and growing station currently runs in excess of 13,000 Brahman and Charbray infused cattle, including a 2,000 head purebred Brahman stud.
"Bunda Station has considerable development potential to run additional cattle that CPC will develop," said Troy Setter, chief executive of CPC.
“Our 28 year ownership of neighbouring station Kirkimbie gives us great confidence in the opportunity to apply our operational expertise at Bunda to further improve productivity and extract synergies and optimise performance from the merger of the two stations.
“This acquisition strengthens our portfolio in the north of Australia, the gateway to the rapidly expanding Asian markets. CPC and our owner Terra Firma see considerable opportunities across the beef value chain. We will continue to look at value-adding acquisitions which will allow us to expand grazing capacity as we continue to transform CPC from a farm-gate producer to a vertically integrated, customer-focussed business.” 
<a href="https://www.pastoral.com/en" target="_blank">CPC</a> runs approximately 360,000 cattle over 19 properties, covering more than 5.6 million hectares which represents around 0.75% of Australia’s land mass.
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Consolidated Pastoral finalises Bunda Station purchase

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It was yet another stunning result at weekend auctions when an initial 84.6% success rate was secured by Sydney vendors, according to Australian Property Monitors (APM).
The sizzling clearance rate was just below last year’s all-time record result of 86%, recorded coincidentally over the same weekend, said the senior economist at APM Andrew Wilson.
Some 636 homes were listed to go under the hammer on Saturday, which was well ahead of the previous Saturday’s 455 auctions, when the revised rate sat at 80.5%.
It was the third week above 80% on the weekend.    
Sydney’s inner city regions recorded a combined 90.6% clearance rate with almost half of all auction sales.
The city and east reported the highest regional clearance rate on Saturday with 92.5%.
The next best was the inner west with 91.2% with the highest sales reported at 93, followed by the lower north 85.7%, the upper north shore 84.2%, the northern beaches 82.5%, the south 81.8%, the west 80%, Canterbury Bankstown 76.7% and the north west 70.6%.
The central coast ranked weakest with a 54% clearance rate on Saturday.
The most expensive property reported sold was a five bedroom, tri-level home at <a href="https://www.clarkeandhumel.com.au/3032030/10-carrington-parade-freshwater" target="_blank">10 Carrington Parade, Freshwater </a>that sold for $3,750,000 through Clarke and Humel Property. There were seven registered bidders, four of whom got to lodge bids.
<img src="/images/2015/02/23/freshwater%20feb%2023%20one.jpg" alt="">
On its 2008 completion it was noted the architects, Gartner Trovato, maximised what one can do with the site. It last sold as is in 2012 at $3.01 million through Clarke.
The most affordable property reported sold at the weekend was a studio apartment at Coronation Inn, when 103/284 Pacific Highway, Greenwich sold for $308,000 by Urbane Inner West.
<img src="/images/2015/02/23/greenwich%20feb%2023%20one.jpg" alt="">
It was recently available at $320 a week, but the agency says <a href="https://www.realestate.com.au/property-studio-nsw-greenwich-118887747" target="_blank">$350 a week was achievable</a>.
However CoreLogic RP Data records show $350 was unsuccessfully sought earlier this year for the 30 square metre studio plus 16 square metre car space. It's $308,000 sale price reflected a 5.4% yield.
The first Super Saturday of the year arrives with 800 homes scheduled to go under the hammer next weekend.
"Sydney’s feeding frenzy for home buyers shows no sign of diminishing," Wilson said.
Saturday's 636 offering was down 20% on the same time last year, with next weekend's 800 offerings 20% up, according to APM.
{mijopolls 91}
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Sydney auction success at fresh near-record high as Super Saturday looms

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Lend Lease has reported a 25.4% profit boost in its half year profit announcement.
Profit was up to $315.6 million, although the property group reported a 9.4% fall in revenue to $5.9 billion. 
Lend Lease has operations in Australia, United States, UK and Asia.
Chief executive Steve McCann advised Australian and UK residential markets had remained strong.
"We increased our residential pre-sold revenue by $2.2 billion, to $3.6 billion, and settlements rose 11% from the prior corresponding period," he said.
In Australia apartment pre-sales increased 195%, including sales for The Yards at Brisbane Showgrounds.
Click to open in new window:
<a href="/images/2015/02/23/ll-feb-23-one.jpg" target="_blank"><img src="/images/2015/02/23/ll-feb-23-one.jpg" alt=""></a>
Source: Lend Lease
The group has about 4000 apartments scheduled for delivery across Australia and the UK.
Strong residential trading conditions saw the property development business deliver profit of $132.6 million. 
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Lend Lease report strong residential sales

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

Jonathan Chancellor

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