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Only five apartments remain in the second release of Mirvac’s $350 million luxury residential precinct, Park at Waterfront Newstead.
Park features 102 one-, two- and three-bedroom apartments across 16 levels.
Two two-bedroom apartments remain priced from $765,000 to $775,000 and three three-bedroom apartments remain priced from $1.22 million to $1.26 million.
Mirvac has secured more than $42 million in sales in the Park release since the start of the year.
"We have just come off the best financial year to date for Park with the increased level of urgency and momentum continuing into the first half of financial year 14,” says Mirvac chief executive officer residential John Carfi.
"Purchasing a property is a significant investment, so to know that a large number of our residents are confident to secure more than one apartment at Waterfront Newstead is probably the best endorsement we can be given.
"We also have a number of purchasers who have secured their apartment now, with the plan to move in down the track when they are ready to downsize from their current home.
"They recognise that there are some great buying opportunities in the current market and that a location like this, on the river and so close to the heart of the city, is rare and limited."
Carfi says the apartments have a current weekly appraisal of around $725 for a two-bedroom apartment and more than $1,000 for a three-bedroom apartment.
"There is strong demand for high quality apartments in prime locations in Brisbane and limited supply, particularly for properties that are already completed or that are part of an expanding mixed-use precinct like Newstead Riverpark," says Carfi.
Located two kilometres from the Brisbane CBD in the Newstead Riverpark community, the 10.6-hectare Waterfront Newstead site will feature six residential precincts once complete, accommodating over 1,000 residents.
Construction on the first release, Pier, began in 2009 with construction starting on the second release, Park, in 2010.
Mirvac <a href="https://www.propertyobserver.com.au/queensland/mirvac-secures-three-5-million-plus-penthouse-sales-at-pier/2013102865940" target="_blank">sold the remaining three penthouses in its Pier release</a> last month for over $5 million each.
Mirvac’s <a href="https://www.propertyobserver.com.au/news/mirvac-secures-%24234-million-in-sales-at-waterfront-newstead-including-%2414-million-penthouse-sale/2013091164964" target="_blank">Waterfront Newstead community</a> will take around 15 years to complete.
The residential community will be part of the larger scale Newstead Riverpark, which will feature FKP’s $1.1 billion Gasworks development.
<a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
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ntrotman-Et3xWpamVh

Park at Waterfront Newstead sales running well 

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The first release of house and land packages at the Greenway in Sydney’s north west proved to be a success with 80% of packages snapped up over the weekend.
Legacy Property released 50 lots on November 23 with packages priced from $491,800 to $683,990.
Some 20% of buyers were first home purchasers, with lots ranging in size from 330 square metres to 586 square metres.
Chief executive officer of Legacy Property Matthew Hyder says Greenway received more than 1,500 expressions of interest leading up to the weekend’s sale launch.
“People see the benefits of living in a quality designed community with access to transport, roads, and employment opportunities in the future Sydney Business Park.
“We wanted to make it easy for home buyers at Greenway and that’s why we chose to offer blocks with designated home designs and builders. This meant the buyers save time and are able to exchange contracts before Christmas,” says Hyder.
Ten packages remain priced from $579,990 to $645,990 and remaining lots range in size from 330 square metres to 500 square metres.
Greenway is the first community in the Marsden Park precinct, located 40 kilometres from the Sydney CBD.
The precinct will comprise of around 1,800 hectares, with enough land for approximately 10,300 homes.
The Greenway community will include over 600 to 700 homes, a supermarket, specialty shops, playground, barbeque area and a dog park – all linked via bike paths.
Legacy Property will release 50 more house and land packages in early 2014.
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Strong buyer demand for Greenway's first house and land package release

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The Urban Development Institute of Australia says the recent Australian Bureau of Statistics population forecast has highlighted the critical need to improve the supply of land and new housing, as well as increase investment in new urban infrastructure.
The ABS projected the Australian population to double to 45 million by 2075.
“Our population is going to grow enormously over the coming decades, which will bring fantastic economic benefits for Australia and provide new opportunities for our society,” says UDIA national president Cameron Shephard.
“It is essential however that we manage that growth sustainably, by ensuring we are well prepared to provide the new homes, roads, schools, public transport and other community infrastructure that those additional people will need.
“Failure to do so is likely to worsen existing congestion and housing affordability problems, threatening both the quality of life in our cities, as well as Australia’s economic productivity,” says Shephard.
The UDIA is calling on both state and federal governments to work together to ensure there is better planning, greater land release and more investment in critical urban infrastructure to support the population growth.
“It is vital that the new federal government increases its focus on urban policy and Australia’s cities, and that the recent abolition of bodies such as the National Housing Supply Council does not negatively impact on this vital area of economic and social policy. The ABS figures clearly show that as a nation we need to be putting more resources into planning and managing the growth of our cities, not less.” “Australia already suffers from a chronic housing shortage of several hundred thousand dwellings.  Addressing the existing shortage as well as the additional demand caused by population growth is a major challenge for our policy makers,” says Shephard.
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Better planning critical for projected population growth: UDIA

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Melbourne’s population is forecast to surpass Sydney’s by 2053 and Melbourne could be Australia’s most populated city by as early at 2030, according to the population projections released by the Australia Bureau of Statistics yesterday.
The statistics confirm that Melbourne and Victoria will continue to accommodate strong population growth over the coming 50 years.
Melbourne’s population is forecast to reach 8.6 million by 2061 and Victoria is expected to grow from 5.6 million in 2012 to 10.3 million in 2061, an increase of 83%.
“The ABS has advised that Melbourne’s population will continue to grow strongly, which is why good, long term planning is so essential to maintaining good jobs growth and preserving the way we live,” says Planning Minister Matthew Guy.
“Plan Melbourne provides a clear course of action to protect our suburbs, as well as provide a clear pipeline of development in defined locations and a direction to once and for all create a State of Cities, not just a city-state.
“These policies position Melbourne and Victoria to allow for population growth and demographic change while at the same time protecting the liveability of Melbourne and Victoria's key regional centres.
“The ABS has included a number of alternative assumptions around fertility rates, net overseas migration and life expectancy. However, even if more conservative assumptions are used, Melbourne will still face significant population growth.
“If applied to Melbourne, the Series C projection (low growth) is still expected to realise a city of 7.6 million people by 2061,” says Guy.
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ABS forecasts Victoria's population to grow 83% by 2061

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A bundle of waterfront properties in Woodgate, including five existing beach houses and two adjoining development sites, have sold as a mortgagee sale for $1.915 million.
The five fully furnished beach houses were the remaining stock of stage one of the now completed Woodgate Beach House development, which features 26 beach house.
A mix of local and interstate investors purchased the beach houses and a Sunshine Coast-based developer purchased the development sites.
One of the sites is DA approved for nine villas and a shop café and the other development site has approval for a balance of 45 beach houses under the original DA for a total of 72 units.
Jason O’Meara and Derek Nissen of Savills secured the sales under appointment by Mortgagee.
“This was a significant land holding that provided a rare combination of a balance of completed stock, along with adjoining sites with approvals in place for future stages of development,” says O’Meara
“The appeal of these properties was the location and proximity to the beach and facilities. The existing dwellings provide an excellent platform for further expansion of the development,” Says Nissen.
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Remaining stock of Woodgate Beach House development sells at mortgagee sale

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Almost a third of apartments in the seven-level Ara on Sydney Park development in Erskineville have already sold, prior to the VIP pre release this weekend and the public launch next month.
The $20 million development with designs by Baker Kavanagh architects will comprise of 36 apartments starting from $540,000.
One-bedroom apartments have an internal area of 55 square metres, two bed-room apartments range in size from 80 square metres to 85 square metres and three-bedroom apartments have an internal area of 102 square metres.
Two-bedroom apartments start from $785,000 and three-bedroom apartments start from $925,000.
Apartments will feature natural stone and timber, European miele appliances and caestarstone benchtops.
“The opportunity to secure an apartment in a vibrant community with the CBD on your doorstep will be a huge drawing card for buyers,” says Peter Coulton of Savills Residential Projects.
Coulton says he expects the development to be a sell out at this weekend’s pre release.
“We expect most buyers to be locals with a good mix of owner occupiers and investors, Erskineville has an average rental return of 6% which is a good return for investors,” says Coulton.
The developers, Newtown Constructions, purchased the site at 241 to 245 Sydney Park Road in late 2011 for $4.25 million.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Ara on Sydney Park development already selling prior to weekend pre release

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Building contractors Zen Projects Group Pty Ltd, trading under Zen Homes, has gone into liquidation.
The business was placed under external administration on November 25.
Any consumers are asked to contact Fair Trading on 13 32 20 to find out about the impact of the liquidation on their circumstances.
Affected consumers may give their details to Fair Trading so they can be kept up-to-date regarding developments.
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Zen Homes goes into liquidation

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When choosing to buy an investment property in a highrise, there are sometimes hundreds or apartments to choose from, but what you floor you choose may have a stronger effect on your rental return than you think.
Typically, apartments higher up in a development are pricier as they offer more of a view, but it may be hard to have a rent that corresponds to the price you paid.
Research by Brisbane-based property analyst Think Matusik says levels three to eight sell more quickly and are generally held the longest.
Think Matusik says the best value for money in high rises is the level below the sewerage and water pipes – floors seven to eight – as the ceiling height is slightly higher.
Lower ground apartments are usually cheaper as they don’t have a view, but they may offer a courtyard.
It’s important to talk to the local council to see what development permits are on surrounding lots, as your investment property may dwindle in price as another development shoots up next door to overshadow you.
 
{module Which floor would you likely buy on for an investment property?}
<a target="_blank" href="mailto:ntrotman@propertyobserver.omc.au">ntrotman@propertyobserver.omc.au</a>
 
 
 
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Apartment levels giving you more bang for your buck, which floor would you choose?

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Mackay’s latest multi-stage residential development Somerset Park has started to release house and land packages from its second release into the market.
Stage one at the $100 million masterplanned estate by Trinity Property Consultants was a knockout, securing $29.3 million in total sales, with only one house and land package remaining.
“Based on the rapid uptake in stage one and the level of enquiries received, we can expect to see a quick take up of stage two properties,” says Total Property Group managing director and Somerset Park marketing manager Adrian Parsons.
“We have already recorded strong interest from prospective buyers and investors for stage two.
Stage one experienced a fast uptake for its 40 homes and 32 duplexes, which indicates the estate is in major demand and generates buyer interest particularly for its quality, location and value,” says Parsons.
Stage two will comprise of 21 new house and land packages and 12 duplex sites.
<img alt="mackay-nov-27-one" height="264" width="470" src="/images/stories/2013/11/27/mackay-nov-27-one.jpg">
Artist impression of Somerset Park, Mackay
The first release of stage two, known as 2a features 10 new house and land packages starting from $415,000 for three- and four-bedroom configurations.
The first release, 2A, will feature house and land packages with architecturally designed three, four and five bedroom homes.
“As there is only a limited number of home and duplex properties available for purchase in stage two, we anticipate the available blocks will be quickly snapped up by buyers as they are released to the market across several stages.
“Mackay is one of the fastest growing economies in Queensland, and as a result – there is persistent demand for new housing product.
“Over the past decade the regional centre of Mackay has boomed, experiencing consistent population and economic growth as a result of its strong mining, agricultural and tourism industry.
“There is also a limited supply of new residential housing in the area, which is positioning Somerset Park as a hotspot for future buyers.
“Investors are particularly attracted to the estate due to its strong rental yields and solid capital growth potential, while living in a new master planned community close to Mackay’s major amenities and CBD is a significant drawcard for owner occupiers and first home buyers.
“Stage one features an equal mix of home owners and investors, which is an ideal balance for the estate.
“With building of homes well underway in stage one and civil works completed for stage two, prospective buyers can now see the development take shape and as a community begins to form, we anticipate interest will only continue to grow across the next stages,” says Parsons.
Somerset Park is located six kilometres north of the Mackay CBD.
The median house price in <a href="/news">Mackay</a> in $399,000, a 15.7% change in the past five years, according to RP Data.
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$100 million Somerset Park Mackay estate releases second stage following near sellout

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Developer and construction giant Laing O’Rourke’s first major mix-used development in Australia - M&amp;A - welcomed its first guests last week.
Bordered by McLachlan, Ann and Connor Street in Fortitude Valley, the $250 million development comprises of a 21-level residential tower, 12-level commercial tower and a retail precinct.
The residential tower comprises of 234 apartments, with 181 already sold.
Remaining two-bedroom apartments are priced from $595,000 to $695,000.
A selection of apartments have been put aside to offer a mix of long and short stay accommodation, with the choice to stay from one to 60 nights.
Designed to appeal to both corporate and leisure travelers, a one-bedroom apartment starts from $200 a night and a two-bedroom apartments is priced from $240 a night.
The commercial tower, known as 825, has fully leased out the 17,000-square-metre space with architects PtD leasing the top two floors of boutique office space.
“With an end value in excess of $250 million, what sets M&amp;A apart from other mixed-use projects is its quality of design coupled with its prime location,” says M&amp;A development manager Mark Grant.
“Features also include a private recreational deck and pool for residents, extensive public artwork and an onsite concierge, and employees and residents have direct access to public transport networks, together with ready access to Brisbane Airport, the CBD and new toll road infrastructure projects,” says Grant.
The private rooftop recreation deck features a pool, gardens and barbeque areas.
M&amp;A will also boast a retail precinct with 13 tenancies, to be known as M&amp;A lane.
Only two tenancy leases remain, with 11 already snapped up.
On completion, the development will have nearly 2,000 residents, workers and visitors to the precinct.
<a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
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Fortitude Valley's M&A development welcomes first guests

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

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While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

Nicola Trotman

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