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GUEST OBSERVATION
As environmental crises and the urgency to create ecological sustainability escalate, so does the importance of ecological economics. This applied, solutions-based field of studies is concerned with sustainability and development, rather than efficiency and growth. Also, given that cities account for <a href="http://nua.unhabitat.org/details1.asp?ProjectId=33&amp;ln=1" target="_blank">70-80% of global economic activity</a> and associated <a href="https://www.journals.elsevier.com/environmental-development/news/urban-resource-flows-and-the-governance" target="_blank">resource use</a>, <a href="https://www.un.org/en/climatechange/cities-pollution.shtml" target="_blank">emissions</a> and <a href="https://www.worldbank.org/en/news/press-release/2018/09/20/global-waste-to-grow-by-70-percent-by-2050-unless-urgent-action-is-taken-world-bank-report" target="_blank">waste</a>, they are central to finding solutions to the challenge of sustainability.
Ecological economics recognises local to global environmental limits. It ranges from research for short-term policy and local challenges through to long-term visions of sustainable societies. Ecological economists also consider global issues such as <a href="https://theconversation.com/climate-explained-what-each-of-us-can-do-to-reduce-our-carbon-footprint-123851" target="_blank">carbon emissions</a>, <a href="https://theconversation.com/the-amazon-is-on-fire-here-are-5-things-you-need-to-know-122326">deforestation</a>, <a href="https://theconversation.com/plenty-of-fish-in-the-sea-not-necessarily-as-history-shows-84440" target="_blank">overfishing</a> and <a href="https://theconversation.com/plants-are-going-extinct-up-to-350-times-faster-than-the-historical-norm-122255" target="_blank">species extinctions</a>.
Core concepts
You’re probably familiar with some core concepts of ecological economics. These include “steady-state economies”, “carrying capacity”, “ecological footprints” and “environmental justice”.
<a href="https://images.theconversation.com/files/299762/original/file-20191031-187912-wzwxwn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/299762/original/file-20191031-187912-wzwxwn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Nicholas Georgescu-Roegen was one of the first economists to argue that an economy faces limits to growth as a result of resource depletion.
A <a href="https://www.casse-nsw.org.au/" target="_blank">steady-state economy</a> is both relatively stable and respects ecological limits. Drawing on the work of mathematician and economist <a href="https://www.hetwebsite.net/het/profiles/georgescu.htm" target="_blank">Nicholas Georgescu-Roegen</a>, economist <a href="http://np4sd.org/about/herman-daly/" target="_blank">Herman Daly</a> elaborated the model, editing a 1973 anthology, <a href="https://en.wikipedia.org/wiki/Herman_Daly#Toward_a_Steady-State_Economy" target="_blank">Toward a Steady-State Economy</a>.
In 1990, Daly co-founded the International Society of Ecological Economics (<a href="http://www.isecoeco.org/" target="_blank">ISEE</a>). It had three key principles:
<ul>
<li>
the human economy is embedded in nature, and economic processes are actually biological, physical and chemical processes and transformations
</li>
<li>
ecological economics is a meeting place for researchers committed to environmental issues
</li>
<li>
ecological economics requires transdisciplinary work to describe economic processes in relation to physical reality.
</li>
</ul>
<a href="https://www.uvm.edu/gund/profiles/joshua-farley" target="_blank">Joshua Farley</a>, who has worked with Daly, discusses some of these principles in an opening address to the Australia New Zealand Society of Ecological Economics (<a href="https://anzsee.org.au/" target="_blank">ANZSEE</a>) <a href="https://anzsee.org.au/2019-anzsee-conference/" target="_blank">conference</a> at RMIT University later this month.
In a partnership program of several North American universities, Farley teaches <a href="https://e4a-net.org/what-is-e4a/" target="_blank">Economics for the Anthropocene</a> postgraduates. They apply ecological economics to “real-world environmental solutions”. Some will talk at the conference about their research.
Today overconsumption is measured against Earth’s <a href="https://theconversation.com/human-carrying-capacity-and-our-need-for-a-parachute-7160" target="_blank">carrying capacity</a>.
<a href="http://williamrees.org/biography/" target="_blank">William Rees</a> and <a href="https://www.footprintnetwork.org/about-us/people/?_ga=2.189136171.1872162861.1572564412-1050177602.1571894476" target="_blank">Mathis Wackernagel</a> developed the related concept of the <a href="https://www.footprintnetwork.org/" target="_blank">ecological footprint</a>. It’s an indicator of the ecological impacts of everyday activities and practices.
Ecological footprints are useful ways for industries, <a href="https://theconversation.com/chinese-migrants-follow-and-add-to-australian-city-dwellers-giant-ecological-footprints-103921" target="_blank">governments</a> and <a href="https://www.wwf.org.au/get-involved/change-the-way-you-live/ecological-footprint-calculator#gs.8476ub" target="_blank">people</a> to assess which practices we need to reduce to keep within the limits of Earth’s regenerative capacity.
ISEE co-founder <a href="https://ictaweb.uab.cat/personal_detail.php?id=15" target="_blank">Joan Martinez-Alier</a> established the global <a href="https://ejatlas.org/" target="_blank">Environmental Justice Atlas</a>. Activists and scholars developed this online database of around 3,000 environmental justice conflicts. It provides open access to many and various ecological and economic value assessments.
Issues of <a href="https://ejatlas.org/country/australia" target="_blank">environmental justice in Australia</a> include:
<ul>
<li>
<a href="https://gards.org/asbestos-related-disease-facts-and-figures-australia-2018/" target="_blank">fatalities from asbestos-related diseases</a>
</li>
<li>
<a href="https://theconversation.com/fossil-fuels-are-bad-for-your-health-and-harmful-in-many-ways-besides-climate-change-107771" target="_blank">health and climate impacts of coal mining</a> and <a href="https://theconversation.com/expanding-gas-mining-threatens-our-climate-water-and-health-113047" target="_blank">natural gas fracking</a>
</li>
<li>
<a href="https://theconversation.com/dont-just-blame-government-and-business-for-the-recycling-crisis-it-begins-with-us-121241" target="_blank">ineffective waste systems</a> and <a href="https://theconversation.com/explainer-how-much-landfill-does-australia-have-78404" target="_blank">landfills</a>
</li>
<li>
<a href="https://theconversation.com/logged-native-forests-mostly-end-up-in-landfill-not-in-buildings-and-furniture-115054" target="_blank">clear-felling of Australian forests</a>, and <a href="https://theconversation.com/australia-might-water-down-illegal-logging-laws-heres-why-its-a-bad-idea-86832" target="_blank">timber imports</a> from Asia-Pacific deforestation. 
</li>
</ul>
A new kind of economics
Ecological economics partly developed from frustration with the narrowness of environmental and resource economics. These approaches apply mainstream economics to the environment. In doing so, they fail to incorporate critical environmental concerns that arise with inputs, outputs and waste.
In addition, ecological economists have a <a href="https://theconversation.com/beyond-gdp-are-there-better-ways-to-measure-well-being-33414" target="_blank">broader view about what “progress” is</a> and how to measure it. Ecological econonomists are more sceptical about how much human-made capital improves on the benefits we get from nature. Critically, they ask: “How useful is it to put a monetary value on nature?”
Ecological economist <a href="https://theconversation.com/profiles/clive-hamilton-195">Clive Hamilton</a> <a href="https://theconversation.com/the-price-of-god-at-coronation-hill-49235" target="_blank">discusses</a> that question in the case of Coronation Hill in Kakadu National Park. He argues that market-based assessments such as “willingness to pay” favour market-based solutions. Similarly, <a href="https://theconversation.com/profiles/brian-coffey-162907">Brian Coffey</a> <a href="https://theconversation.com/cents-and-sensibility-why-its-unwise-to-put-dollar-figures-on-nature-49508" target="_blank">highlights</a> the conundrum of monetising ecological values: "I would rather ask “why is nature important?” and “how can we live with, and within, it?”
Despite this, certain ecological economists use monetary data to make powerful ecological statements. For instance, <a href="https://theconversation.com/profiles/ida-kubiszewski-142545" target="_blank">Ida Kubiszewski</a> and her co-authors surveyed land uses under different future scenarios. They <a href="https://theconversation.com/without-action-asia-pacific-ecosystems-could-lose-a-third-of-their-value-by-2050-63452" target="_blank">concluded</a> that continuing business as usual could wipe out a third of the value of Asia-Pacific ecosystems by 2050.
Solutions for sustainable and just futures
In short, ecological economics has contributors from diverse disciplinary and professional backgrounds.
Presenters to the ANZSEE conference of course include ecologists and economists. But there are also social and physical scientists, sociologists, philosophers, historians, planners and sustainability experts.
Sustainability expert <a href="https://theconversation.com/profiles/samuel-alexander-102353" target="_blank">Samuel Alexander</a> speaks about <a href="https://theconversation.com/limits-to-growth-policies-to-steer-the-economy-away-from-disaster-57721" target="_blank">living well with degrowth</a>. Others argue that a climate-safe world requires radical forms of economics.
Contributors will also talk about <a href="https://theconversation.com/why-our-response-to-climate-change-needs-to-be-a-just-and-careful-revolution-that-limits-pushback-123588" target="_blank">just transitions</a>, <a href="https://theconversation.com/keeping-the-city-cool-isnt-just-about-tree-cover-it-calls-for-a-commons-based-climate-response-120491" target="_blank">commoning</a>, the <a href="https://theconversation.com/the-search-for-an-alternative-to-gdp-to-measure-a-nations-progress-the-new-zealand-experience-118169" target="_blank">genuine progress indicator</a> (GPI), <a href="https://theconversation.com/i-stand-with-the-climate-striking-students-its-time-to-create-a-new-economy-123893" target="_blank">School Strike for Climate</a> (SS4C), <a href="https://theconversation.com/what-next-after-100-resilient-cities-funding-ends-116734" target="_blank">resilience</a>, <a href="https://theconversation.com/2050-is-too-late-we-must-drastically-cut-emissions-much-sooner-121512" target="_blank">decarbonisation</a> and ethical investment. Keynote speaker <a href="https://theconversation.com/profiles/jon-altman-2991" target="_blank">Jon Altman</a> presents a model of hybrid economies that’s useful in the context of Indigenous peoples.<img src="https://counter.theconversation.com/content/123915/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Anitra Nelson, Associate Professor, Centre for Urban Research, RMIT University.
Brian Coffey, Vice-Chancellor's Research Fellow, Centre for Urban Research, RMIT University, RMIT University.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-is-ecological-economics-and-why-do-we-need-to-talk-about-it-123915" target="_blank">original article</a>.
This article is part of a series on rebalancing the human–nature interactions that are central to the study and practice of ecological economics, which is the focus of the 2019 ANZSEE Conference in Melbourne later this month.
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j.ballantyne1990-6AQqhLzZaK

What is ‘ecological economics’ and why do we need to talk about it?

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A harbour-side mansion, in Sydney's Clontarf, has sold for $9 million, short of its $10.5 million listing price. 
The house, on Gordon Street, features seven bedrooms, seven bathrooms, a quadruple garage, full-sized billiards room, large pool, and home cinema.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/1/Clontarf%202.jpg" alt="">
The property comprises of 2240 square metres of private, landscaped grounds. 
Brad Hunt, who is part of the family that founded Primo Smallgoods, and his wife Kylie owned the house for the past nine years.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/1/Clontarf%203.jpg" alt="">
They bought the house in 2009 for $8.7 million, showing just $300,000 (or 3.5%) in 10 years.
The median house price in Clontarf is $2.92 million.
James Haywood and Anita Wildash, from Cunninghams Real Estate, listed the property.
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Harbourside Clontarf mansion sold for $9 million 

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Investors within the inner and middle ring suburbs of Sydney have generally been focused on capital growth, particularly within the recent years of 2015 to 2017 where most properties saw double-digit growth year on year, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at the rental yields across the country to dissect where to find the best returns in residential markets.
"However, since mid to late 2017, we have seen values decline in most property types and locations across Sydney with certain property types and locations hit harder than others," the valuation firm said. 
"In addition to this we are at record low interest rates and in an environment where capital growth or decent yields are difficult to find."
The report notes investment grade home unit style properties within inner Sydney can generally return gross annual yields in the order of 3% to 5%, however this is dependent on many of the usual factors that affect property such as location, property type, condition, quality, views and parking.
It also said it's important to remember that these yields are gross and therefore have not been adjusted for outgoings, in particular strata levies which can be substantial, particularly if the unit is located within a high density apartment building with common facilities such as pools, gyms and lifts.
A dual key apartment is commonly defined as having a self-contained studio accessed by a door, inside the main apartment.
There is a shared common hallway, but separate lockable doors to each home.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/21/chippendale%201.jpg" alt="">
A dual key unit in Central Park at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-chippendale-130754314" target="_blank">1203/18 Park Lane Chippendale</a> (pictured above) sold in May for $1.2 million.
The property was a two-bedroom dual key apartment with each area comprising one-bedroom, bathroom, kitchen, laundry, lounge/dining and balcony.
The unit also enjoys extensive common facilities such as pools, gym, spa, rooftop garden and concierge.
The advertised rental was $1,330 per week combined which reflects a gross yield of 5.76%.
"Depending on the specific needs of each investor, it could be more beneficial to focus on units within smaller scale developments or entry level Torrens title properties such as terraces or free-standing dwellings.
"These options would be beneficial in terms of not having to pay high fees for common facilities and there is opportunity to add value via renovations. Smaller scale unit developments and Torrens title properties also tend to have stronger capital growth over a long term period," the valuation firm concluded. 
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Smaller scale unit developments in Sydney CBD fringe have stronger capital growth: HTW residential 

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Return and Earn is encouraging all NSW residents to help set a record for the number of eligible drink containers returned during National Recycling Week (11-17 Nov) for their local government area. 
More than 5 million bottles and cans are returned every day – the equivalent of 2 containers for every NSW household. 
“We are challenging NSW residents to put their local area on the recycling map by returning as many eligible drink containers as they can through their local return point for the week,” Janelle Neath, Acting CEO of Exchange for Change, scheme coordinator for Return and Earn said today. 
“We’d like to see all of NSW involved and if you haven’t returned and earned before, this week is the perfect time to set yourself a new habit that’s a win for the environment and your wallet,” she added. 
The latest Return and Earn figures for the first six months of the year show Blacktown, Central Coast and Canterbury-Bankstown local council areas as leading Return and Earners. 
All Return and Earners are encouraged to post photos and stories of their recycling efforts during National Recycling Week tagging #returnandearn #nationalrecyclingweek. 
To avoid queues, check <a href="http://www.returnandearn.org.au/" target="_blank">returnandearn.org.au</a> for peak times or use an automated depot - these can be faster than reverse vending machines plus there’s no need to sort glass from plastic or cans. 
Each container deposited into one of 640 plus Return and Earn return points statewide is diverted from landfill and recycled into a new product while earning the consumer 10c for each return.
 
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NSW's residents urged to take on Return and Earn National Recycling Week challenge

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Between 2013 and 2017, it was a pretty tough slog for investors in residential real estate in Mackay, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
"The downturn in the resource sector and flow on effects to Mackay have been well documented in this column, but are important to give context in the current market," the valuation firm said. 
Rental vacancy rates blew out significantly from around 1% to a high of 9.4%, with market rental values falling between 30% and 50%.
"Investors all but left the market during this period, putting greater pressure on values of purely investment grade stock, in particular flats and units.
"However, over the past 12 to 18 months, the tide has definitely started turning," the valuation firm said. 
Rental vacancy rates have been falling over the past two years and currently sit at just below 2% with market rental values increasing throughout this period.
In fact, the rate of increase in rental values rose faster than any increase in capital values during this period, meaning yields are increasing.
This fact alone, with the prospect of increasing capital values in the medium term, is making Mackay a great place to invest at present, the report noted.
"So, what are the yields being achieved at present?
"For residential dwellings, gross yields currently sit between 5% and 6%, with the higher yields currently available on lower value dwellings," the valuation firm said. 
The HTW report suggests the minimum rental levels in Mackay have been rising steadily, allowing greater yields on these properties.
The risk is the older properties may require capital expenditure and repairs and do not reap the depreciation benefits on more modern properties.
"In terms of gross yields only, the highest yields currently available are with units. Unit values fell significantly in the downturn and have only started to increase slightly since," the valuation firm said. 
For example, an older style walk up two-storey attached unit in close proximity to the CBD can still be purchased for under $150,000, with some recent sales as low as $110,000.
These units can command a rental of between $180 and $200 per week giving gross yields of between 7% and 8.5%.
"Just a word of caution, these rates are gross yields only and do not take into account the higher costs of insurance and body corporate levies in Mackay or rates payable." 
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Mackay minimum rental levels rise steadily: HTW residential 

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EXPERT OBSERVATION
As green shoots have clearly appeared in the property market, RiskWise Property Research has taken a retrospective analysis of lessons to be learned from the recent downturn.
1) Think long term and don’t seek quick wins. It’s easy to see Sydney and Melbourne carry a low level of risk and are the long-term winners when it comes to the property market. While we’ve had short-lived episodes of enthusiasm in areas such as Hobart and the mining towns in both Western Australia and Queensland, these areas are no longer in favour with owner-occupiers or investors (Hobart delivered a modest annual change in dwelling value of 2.6 per cent). Now we are seeing the Sydney and Melbourne markets starting to perform more strongly, which means that only the people who bought at the top of the market in 2017 and 2018 are seeing temporary reductions in dwelling values. People who are looking for ‘adventures’ in the property market are like gamblers and often find these escapades to be perilous down the track when it is too late to do anything about.
2) Taxation and regulatory changes carry very tangible risk to property investors. Investors should focus on purchasing dwellings that are suitable for families in areas which have a high owner-occupier ratio, particularly houses, as these are less subject to potential taxation changes.
3) High-rise units simply carry a higher level of risk. This is driven by areas which have oversupply of units, often flagged as Danger Zones. However, the newly emerging threat of construction defects and combustible cladding has added an addition layer of risk for investors. For the same amount of money investors can usually buy a house in the middle or outer rings which will present much less risk and is more likely to enjoy solid capital gains down the track due to the long-term appreciation of land values.
4) Capital growth should be the key driver for investor decisions, rather than cash flow. A RiskWise five-year analysis of the property market earlier this year demonstrated that high rental yields generally deliver low overall returns for investors. Our analysis proved that, over the medium to long term, low rental returns delivered significantly higher overall return (i.e. capital growth + rental return), while high rental returns delivered lower ones overall. What it means is people who invest in very affordable suburbs that carry a high level of rental return, with the expectation of strong overall growth, achieve exactly the opposite result. The analysis showed, under the assumption of a 20 per cent deposit, that low-rent houses would increase their net equity by 63.1 per cent. Conversely, high-return houses would increase their net equity by only 29.5 per cent. This means low-rent houses increased their equity by more than twice that of the high-rent ones.
5) Undersupply of houses in Sydney and Melbourne is a systematic issue. With high population growth in both these capital cities, undersupply of family-suitable dwellings, mainly houses and, to a lesser extent, townhouses will drive property values and is likely to create strong long-term growth in prices. What it means is supply has been unable to keep pace with strong demand. While there has been a large supply of units in high-rise buildings, these are generally unsuitable for owner-occupiers and are largely rental properties. This imbalance in dwelling construction has been a major contributing factor to housing affordability challenges, remembering that rental properties and owner-occupied ones are not fully substitute products. Overall, investors are more likely to benefit more from buying houses in the middle rings and the outlying areas of these cities, provided there are adequate transport solutions and access employment.
DORON PELEG is the CEO of RiskWise
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Five lessons from Australia's recent real estate downturn: RiskWise's Doron Peleg

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Australia’s residential property developer, AVJennings, has signed a five-year deal with TechnologyOne.
The move – which forms part of the developer’s digital transformation strategy – will see a knock-down-rebuild of almost all of AVJennings’ major enterprise applications.
It’s all aimed at providing a simpler, unified and modern technology foundation for the organisation and its highly mobile, geographically diverse workforce spread throughout New South Wales, Victoria, Queensland and New Zealand.
The residential property leader is a new customer for TechnologyOne. 
AVJennings Chief Financial Officer, Larry Mahaffy, was seeking an integrated and efficient solution that promised better visibility of the multi-million dollar projects its manages. 
“We understand better than most how complex big projects with multiple stakeholders can be. We don’t want that complexity in our technology systems, we want simplicity,” Mr Mahaffy said. 
AV Jennings will replace a series of legacy software applications across financials, document management, asset and capital management, and human resources including payroll with TechnologyOne’s whole-of-business solution.
Ed Chung, TechnologyOne’s Chief Executive Officer said implementation is expected in October 2020.
“We heavily invest in research and development to bring pre-configured industry solutions to market. This delivers real value to our customers through implementations that are faster, lower in cost and with reduced risk,” said Mr Chung.
”To have AVJennings select our solution is a testament to our enterprise vision that spans across several vertical markets.” he said.
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AV Jennings signs with TechnologyOne to build its digital transformation

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An expansive modern home in Oatley has been sold for $2,421,000.
Situated at 78a Waratah Street, the narrow (but freestanding) house features six bedrooms, four bedrooms, double garage, and small lawn.
It sits on a 505 square metre block.
The home had not previously sold since it was built.
Oatley's median house price is $1,555,500.
Andrew Stefanovski and Bobbi Trajkovski, from Laing+Simmons St George, listed the property.
 
 
 
 
 
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Oatley home sells for almost $2.5 million

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A Carlton unit has sold for $680,000 at weekend auction. 
The two-bedroom apartment, at 6/2 Carnarvon Street, features two car spaces, a large balcony, and a single bathroom.
There is 149 square metres of internal floorspace (not including the balcony).
It came onto the market with a price guide of between $600,000 and $650,000.
It previously traded in 1998, when it sold for $225,250.
Carlton's median unit price is $645,000.
John Kastellorios, from Laing+Simmons St George, listed the property. 
 
 
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Carlton unit sells at weekend auction

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An Artarmon apartment has sold at auction for $1,027,000, comprehensively exceeding the listed price guide of $850,000.
The home, at 40/8 Buller Road, features two bedrooms, one bathroom, and an internal garage.
There is 108 square metres of internal floor space, and Artarmon train station is 408 meters away.
The unit had not previously traded since 1988, at which time it sold for $145,000.
Artarmon's median unit price is $852,000.
Catherine Ong, from Laing+Simmons Artarmon, listed the property.
 
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Artarmon apartment sale exceeds expectations

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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