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The Urban Taskforce has announced its Property Person of the Year as Darren Steinberg, the CEO of Dexus. 
“Darren Steinberg is a distinguished leader of the Australian Property industry, with a career spanning 30 years across property management, leasing, development, fund management and now at Dexus where he has been CEO for the past seven years,” said Urban Taskforce Chairman Peter Daly.
“As CEO, Darren has led Dexus to an impressive position, building the group to $31.8 billion funds under management and managing a portfolio of properties across the Australian office, industrial, retail and healthcare sectors. Dexus’s portfolio now includes 53 office properties, making it the largest office owner and manager of office properties in Australia.”
Urban Taskforce CEO, Chris Johnson, said: “Darren is a very worthy recipient of Property Person of the Year and follows an impressive series of winners including Harry Triguboff of Meriton, Lang Walker, Greg Goodman, Ross McDiven from Multiplex, Steve McCann from Lendlease and last year’s winner Justin Hemmes from Merivale Group. All of these people have contributed in exceptional ways to the Property industry in Australia.”
Dexus has developed global award-winning properties including 5 Martin Place in Sydney, 480 Queen Street in Brisbane, Kings Square in Perth and the recently completed 100 Mount Street in North Sydney.
It is also behind a number of major projects including 80 Collins Street and 60 Collins Street in Melbourne, the Pitt and Bridge Street Precinct in Sydney, the Health and Education Precinct in St Leonards, and the Waterfront Precinct in Brisbane.
“Darren is a committed advocate for the Property industry and its importance to the Australian economy, and has made a strong contribution as former two term National President of the Property Council of Australia and a founding member of the Property Male Champions of Change,” said Johnson.
The Property Person of the Year award will be presented to Steinberg at a dinner on 28 November.
The event will raise funds for the Warrah Society and St Vincent’s Prostate Cancer Centre.
Over the past 16 years, the Property Person of the year event has raised more than $2.5 million for charity.
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j.ballantyne1990-6AQqhLzZaK

Darren Steinberg of Dexus named Urban Taskforce Property Person Of The Year for 2019

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In a handful of blue-chip suburbs located in Melbourne’s east, property prices have corrected to mid-boom levels following the recent sharp correction, according to a recent Herron Todd White (HTW) residential report. 
The report notes that Balwyn North and Kew are two of the eight suburbs in Melbourne where the median house price is similar to that of the 2015 property market.
A 1960s home at 2<a href="https://www.realestate.com.au/sold/property-house-vic-kew-131537478" target="_blank"> Victor Avenue, Kew</a> has recently been sold for $1.6 million.
Surrounded by garden and alfresco decking, the single level home comprises four bedrooms living room with fireplace, updated kitchen and four car parking.
It's within close proximity to elite schools, trams, shopping precincts and parklands.
While the pressure of the property market has eased in recent months, the types of property available on the market such as detached dwellings and apartments etc largely remain the same despite lots of residential developments taking place in Box Hill and Ringwood at the moment.
"This is very different from large englobo estate developments that are happening in areas with an abundance of vacant land available such as Truganina, Melton and Werribee," the valuation firm said. 
"Of the properties in Melbourne’s eastern region, around 33% are owned outright or mortgaged, with 20% of housing comprised of townhouses or semi-detached homes and 33% of residential properties being high-rise apartments."
The eastern suburbs are proving to be popular with first home buyers due to the number of schools located in the region.
Catchment areas of elite government schools such as Camberwell High School are highly sought after.
The report suggests suburbs such as Ringwood and Mitcham in the outer east will most likely be more desirable as the median house price for those suburbs is $830,000 and $920,000 respectively.
These suburbs boast great access to coffee shops, restaurants, gyms and health clubs that is highly desirable and are also very close to transport and schools.
Some of the most popular and desirable areas include Kew, Hawthorn, Camberwell and Balwyn.
Travelling into the city by train from Hawthorn and Camberwell takes 15 and 25 minutes.
"This short trip is not only a selling point for those who commute to corporate jobs in the city but also allows their children access to quick transport to school via tram or train. This drives the price of homes in these areas upwards," the valuation comments. 
The Hawthorn median house price sits at $2,192,500 and Camberwell’s median house price is $1,955,000.
This market is geared towards established families or couples who are well resourced and are able to afford the choices of lifestyle that come with living in the eastern suburbs of Melbourne.
<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/2019/9/11/kew%202.jpg" alt="">
A three bedroom townhouse at 2/51 Cobden Street, Kew (pictured above) has recently been sold for $1,275,000.
The home comprises three bedrooms, study or fourth bedroom, upstairs retreat or lounge, living and dining areas and courtyard garden. 
It is close to High Street shops and restaurants, trams, recreation centre, and schools. 
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Balwyn North and Kew prices correct to mid-boom levels: HTW residential 

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The most desirable properties in the sub $500,000 price range in the Ballina Shire are located close to services within the townships of Ballina and Alstonville or Wollongbar, according to a recent Herron Todd White (HTW) residential report. 
The report suggests within this price bracket buyers are limited in what they can get for their money, however $500,000 and up to $600,000 would still get you a reasonable three-bedroom dwelling within close proximity of schools and shops in these townships.
A three bedroom house in Wollongbar has recently been sold for $480,000.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-wollongbar-130919158" target="_blank">14 Ramses Street</a> (pictured below), the family home comprises three bedrooms, lounge/dining room, kitchen and covered timber deck at the rear. 
The home is situated close to the Palms Shopping Centre, Wollongbar Tavern and Wollongbar Public School. 
<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/2019/9/9/wollongbar%20.jpg" alt="">
The mid-range price bracket of about $600,000 up to the early $1 million dollar mark would generally allow buyers to obtain a property in the desirable beachside localities of Lennox Head through to East Ballina, or possibly a small acreage property in the Ballina Hinterland.
A current listing on the market is a four bedroom home in Ballina priced at $649,000.
Set on a landscaped 753 square metre block, the single level house at <a href="https://www.realestate.com.au/property-house-nsw-ballina-131719474" target="_blank">32 Brunswick Street</a> (pictured below) comprises four bedrooms, large lounge, formal dining room, kitchen and undercover deck. 
The home has been renovated. 
<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/2019/9/9/ballina%20.jpg" alt="">
"Generally speaking, $1 million in the current market would get you a good quality house on Lennox Hill, possibly with some sort of restricted ocean view," the valuation firm said. 
An example of this is the recent sale of<a href="https://www.realestate.com.au/sold/property-house-nsw-lennox+head-130113842" target="_blank"> 18 Brolga Place, Lennox Head</a> (pictured below) for $970,000.
This property comprises a contemporary style part two-level, four-bedroom, three-bathroom residence with a double garage situated on an 856 square metre lot which has restricted ocean views towards Boulders Beach.
<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/2019/9/9/lennox%20head%201.jpg" alt="">
"Moving up to the prestige price bracket of properties in excess of say $1.5 million, buyers would expect to either be located within the most sought-after locality of the Ballina Shire, being Lennox Head village or Lennox Hill, Skennars Head or East Ballina with extensive ocean views," the valuation firm said. 
"Alternatively, somewhere in the $1.5 million to $2 million price bracket would get you an executive style residence on small acreage in the sought after rural residential locality of Tintenbar, situated 10 to 15 minutes west of Lennox Head."
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Options limited within the sub $500,000 price range in Ballina Shire: HTW residential 

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Melbourne-based developer Lucent has received development approval from council to build Brighton’s first fossil free apartment project, due to launch next month.
Located on the corner of 7 Bleazby Avenue and 51 Male Street, the permit approves 14 apartments to be developed on the 1,392 square metre site.
The project, to be known as Slate House, will consist of eight two-bedroom and six three-bedroom residences, ranging from 90–200 square metres in size, across three levels.
Centred upon sustainable design principles, the project achieves a NatHERS rating of 7.8 – the highest of any residential project in the area.
<a href="https://maynardarchitects.com/bleazby" target="_blank">Slate House</a> incorporates a fossil fuel free embedded network, high-efficiency appliances and uses rainwater harvesting to encourage residents to lead a zero emissions lifestyle.
<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/2019/10/3/Slate%20House%201.jpg" alt=""> Plans for the apartment development
Designed by the award-winning Austin Maynard Architects, Slate House aligns with Lucent’s strategic vision to develop well-located projects that meet a gap in the market, whilst promoting liveability, sustainability and community, said Lucent’s managing director, Panos Miltiadou.
“Good design transcends far beyond a project’s look and feel. Drawing on our past experience we know that socially and environmentally led design is at the forefront of purchaser’s minds, particularly owner-occupiers, and therefore we see Slate House as contributing to the shift in challenging the status quo of apartment design in Australia,” Miltiadou said.
“Slate House is aimed at meeting the growing demand for apartment living in Brighton, particularly among the growing owner-occupier family and downsizer market.”
Slate House will be within walking distance from the Church Street retail precinct, as well as local schools, transport and parks.
The developer lodged plans for the project in November last year after purchasing the site in October.
<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/2019/10/3/Slate%20House%20site.jpg" alt=""> The current site
The suburb has experienced a recent boom in apartment developments, with a new wave of downsizers buying into smaller, low-maintenance homes.
Units in Brighton have risen by 5.1%, despite Melbourne’s median house price falling over the past year.
With the project launching to the market in mid-October 2019, construction is set to be completed in 2021.
Slate House follows on from the sell-out success of the developer’s Nightingale and Little Miller apartment projects in Brunswick East which are nearing completion.
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Development approval granted for fossil fuel free Brighton apartment project Slate House

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Walker Corporation’s Parramatta Square development has attracted two new tenants.
GT Insurance and Universal Fitness have committed to 4 Parramatta Square.
4 Parramatta Square is the first of four towers in Parramatta Square development and will open in December 2019. 
GT Insurance and Universal Fitness will join anchor tenant the NSW Government in the 65,000 square metre, 40 storey building.
A subsidiary of Allianz Insurance, GT Insurance diversifies the mix of occupants at Parramatta Square.
"The office relocation from St Leonards has been welcomed by staff travelling from Western Sydney," Greg Walsh, General Manager, at GT Insurance said.
<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/2019/9/18/4PSQ%20Property%20NSW%20fitout%203.jpg" alt="">
NSW Government fit-out, indicative of GT Insurance fit-out
Occupying over 1,000 square metres of retail space, Universal Fitness has committed to a 10 year lease.
"The drawcard for us was the number of high quality corporate firms and diverse workforce that the development brings," co-founders of Universal Fitness Kumar Ramachandra and Anthony Kerkmez said.
The gym will include a wide range of Technogym equipment, personal training, a variety of group Les Mills classes from Body Pump to, boxing, Yoga and more.
It is expected that more than 5,000 staff will work in 4 Parramatta Square.
Wellness factors employed in 4 Parramatta Square include an agile working environment, greater use of outside air, lighting system, and a minimum 5 Star Green Star fit-out, according to the marketing. 
<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/2019/9/18/Parramatta%20Square%2020.jpg" alt="">
Construction of the first tower is close to completion.
Award winning architects Johnson Pilton Walker created the design.
It features atriums and staircases that promote workplace connectivity, winter gardens and a range of amenities, including retail outlets and a business and events centre, catering for up to 200 people. 
With the NSW Government and GT Insurance confirmed as tenants, 450 square metres remains available at 4 Parramatta Square.
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GT Insurance and Universal Fitness take up Parramatta Square leases 

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A stately family home in Ivanhoe East, Victoria has hit the market with a price guide between $4.9 million and $5.35 million.
Nestled on a 737 square metre block, the home at <a href="https://www.realestate.com.au/property-house-vic-ivanhoe+east-131882926" target="_blank">36 York Avenue</a> comes with master suite with dressing room, three additional bedrooms, library/formal dining room, family room, meals area and kitchen.
It also comes with lounge and piano room, home office, sitting room, games room, and balcony overlooking the district. 
<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/2019/9/18/ivanhoe%20east%202.jpg" alt="">
There is also an entertainment zone with outdoor kitchen. 
Other features of the home include ducted heating/cooling, internal lift, surround sound and a triple auto garage.
<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/2019/9/18/iavnhoe%20east%203.jpg" alt="">
It is situated within walking distance from Ivanhoe Park and close to Ivanhoe Train Station, East Ivanhoe Village, and Warringal Shopping Centre.
The expressions of interest campaign for the property closes October 8.
James Goulopoulos and Tina Goulopoulos of Jellis Craig Ivanhoe have the listing.
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Ivanhoe East trophy home with city views listed  

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GUEST OBSERVATION
A <a href="https://www.greater.sydney/performance-indicator-addressing-urban-heat" target="_blank">recent report</a> by the Greater Sydney Commission singles out urban heat as one of four priority areas given our coming climate. It identifies tree canopy as the top response for reducing city temperatures and delivering amenity. However, the public conversation about urban heat often misses the complex relationship between trees, people and the built environment, which challenges this response.
In soon-to-be-published research supported by the <a href="https://www.landcom.com.au/approach/research-and-learning/universities/" target="_blank">Landcom University Roundtable</a> we found that responding to a more extreme climate requires new social practices and new relationships with the <a href="https://www.communityeconomies.org/index.php/publications/articles/commoning-social-life" target="_blank">commons</a>. Commons are the spaces, resources and knowledge shared by a community, who are, ideally, involved in the regeneration and care of those commons. Trees are an important social commons, but they also present multiple challenges.
Closing our doors to the great outdoors
For one, trees are an outdoor amenity, but we are spending more and more time <a href="https://press.anu.edu.au/publications/journals/human-ecology-review/human-ecology-review-volume-24-number-2" target="_blank">indoors</a>. For those who can afford it, air conditioning delivers cooling in the privacy of your own home or car – no need for trees.
However, staying in cool bedrooms and car rides mean <a href="https://www.smh.com.au/politics/federal/lonely-unfit-and-hooked-on-air-conditioning-is-this-the-summer-of-the-future-20190208-p50whm" target="_blank">less time outdoors</a> and with others, which isn’t ideal for human health and well-being.
Air conditioning also uses more fossil-fuel-based energy, which generates more greenhouse gas emissions. The result is more climate change.
Mixed feelings about trees
As the Greater Sydney Commission <a href="https://www.greater.sydney/performance-indicator-addressing-urban-heat" target="_blank">report</a> makes clear, tree canopy in Greater Sydney is roughly proportional to household wealth. The “leafy suburbs” are the wealthier ones. This means tree planting is an important investment in less wealthy parts of the city, which experience <a href="https://www.tai.org.au/sites/default/files/Western%20Sydney%20Heatwatch%20WEB.pdf" target="_blank">more extreme heat days</a>.
<a href="https://images.theconversation.com/files/291435/original/file-20190909-175696-359nzu.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/291435/original/file-20190909-175696-359nzu.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Number of days over 35°C recorded in various parts of Greater Sydney (July 2018-June 2019). <a class="source" href="https://www.greater.sydney/performance-indicator-addressing-urban-heat" target="_blank">© State of NSW through the Greater Sydney Commission</a>
However, <a href="/news">research</a> also shows people have mixed feelings about trees. In comparison to the neat shrubbery and easily maintained sunny plazas we’ve become used to in our cities, trees can be “messy” and “unpredictable”. Leaf litter can be slippery and natives like eucalypts, with their pendulous leaves, provide limited shade. People worry about large trees falling over or dropping branches.
Trees are often at the <a href="https://lsc.sa.gov.au/resources/TreesandtheLawBooklet.pdf" target="_blank">centre of disputes</a> between neighbours. They can also be perceived as a security problem – if trees reduce visibility they might provide cover for wrongdoers.
In addition, insurance companies can charge a premium if a property is <a href="https://www.gocompare.com/home-insurance/trees/" target="_blank">deemed at risk of damage by large trees</a>. As we experience more extreme weather, laws on vegetation clearing are <a href="https://www.thehills.nsw.gov.au/News-Publications/New-rules-to-give-property-owners-more-say-in-how-their-trees-are-managed" target="_blank">becoming more risk-averse</a>.
What trees where and when?
Urban development tends to give priority to roads and delivering the maximum number of dwellings on sites. This leaves little space for trees, which need to fit into crowded footpaths with ever-changing infrastructures. For example, will larger <a href="https://www.smh.com.au/business/telstra-pushes-for-5g-that-works-in-australia-20170109-gto0gz" target="_blank">trees interfere with 5G</a>?
When juggling priorities in the streetscape, trees often <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2016-01-27/100-yr-old-sydney-trees-to-be-felled-to-commemorate-anzacs/7116608" target="_blank">lose out</a>.
It’s an obvious point, but trees take time to grow. It can take many years for a planted sapling to become a shade tree. In that time there will be no shelter from the heat.
Also in that growing period, which can sometimes be unpredictable, trees need to be nurtured, especially in times of drought. And, once the tree is mature, fingers crossed that extreme weather events do not undo all those years of waiting.
So, while increasing tree canopy sounds like an obvious solution, trees are in fact a <a href="https://www.landcom.com.au/assets/Downloads/Library/f4e2252c79/Street-tree-design-guidelinesfactsheetlp.pdf" target="_blank">complex social challenge</a>. In our research, we point to ways some of these tree-related tensions can be managed.
Shade in the meantime
<a href="https://images.theconversation.com/files/291428/original/file-20190909-175696-1wvg9yu.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/291428/original/file-20190909-175696-1wvg9yu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
A structure to support fast-growing vines has been built on one of Darwin’s hottest streets, but even these will take some time to grow. <a class="source" href="https://www.facebook.com/Darwinweloveit/posts/cavenagh-st-shade-structure-complete-with-all-the-sunshine-rain-we-are-getting-t/305429293391839/" target="_blank">Darwin We Love It/Facebook</a>
Shade is an important <a href="https://placesjournal.org/article/shade-an-urban-design-mandate/" target="_blank">civic resource</a>. Large, mature trees with spreading canopy provide the best shade, so strategic construction bans and <a href="/news">tree preservation orders</a> are an obvious first step.
However, if shady canopy is decades off, we need to think about other, creative ways to provide shade in the meantime to ensure, for example, that people of diverse abilities can walk their city in reasonable comfort. This might include temporary shade structures such as awnings, <a href="https://www.propertyobserver.com.au/https://www.yoursaypenrith.com.au/25909/documents/72131" target="_blank">bus shelters</a> and fast-growing vine-trellised walkways (if there is space to create troughs for soil and the structure doesn’t cause <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-07-15/firefighters-limited-access-darwin-cbd-shade-structure/9995608" target="_blank">access problems</a>).
And, as the <a href="https://www.cancer.org.au/preventing-cancer/reduce-your-risk/be-sunsmart" target="_blank">Cancer Council</a> consistently reminds us, we all need to adopt more climate-defensive clothing.
An important alternative is to follow our regional neighbours and start to populate parks and other public spaces at night. This suggests a need for removable shade, so we can take part in activities like <a href="https://www.landcom.com.au/news/media/new-community-lights-up-macarthur/" target="_blank">stargazing</a>.
Cultivating an intergenerational commons
Mature trees can die back or die altogether, so other trees should be maturing to take their place. Usually, experts design and maintain landscapes for others to enjoy.
However, users of the cooling services of parks could be invited into the process of planning and realising landscape designs. This would give them a say on the trees of which they have “shared custody”. Planting for succession can create an <a href="https://www.researchgate.net/publication/299720121_Commoning_as_a_postcapitalist_politics/figures?lo=1" target="_blank">intergenerational sense of ownership over a shared place</a>.
Current planning practices tend to ignore wind and solar patterns. The result is urban forms that make heat worse by prioritising comfortable private interior spaces over the commons of public space. Designing cool cities means using trees, water and buildings to create cool corridors that work with cooling breezes – or even <a href="https://link.springer.com/chapter/10.1007%2F978-981-10-6638-2_10" target="_blank">summon</a> these in still, heat-trapping basins like Western Sydney.
These few examples point to new ways of living with trees as social commons, but they also point to new forms of commoning – collaborative forms of care and governance that invite people to <a href="https://www.propertyobserver.com.au/https://www.routledge.com/Sustainable-Practices-Social-Theory-and-Climate-Change-1st-Edition/Shove-Spurling/p/book/9780415540650" target="_blank">adopt new social practices</a> better suited to living well in the coming climate.
It is a positive step that state development agencies like <a href="https://www.landcom.com.au/organisation/about-landcom/" target="_blank">Landcom</a> aim to demonstrate global standards of liveability, resilience, inclusion, affordability and environmental quality. In so doing, they initiate transitions to these more commons-based ways of living.
<hr>
In addition to the authors of this article, the Cooling the Commons research team includes: Professor Katherine Gibson, Dr Louise Crabtree, Dr Stephen Healy and Dr Emma Power from the Institute for Culture and Society (ICS) at Western Sydney University (WSU), and Emeritus Professor Helen Armstrong from Queensland University of Technology (QUT).<img src="https://counter.theconversation.com/content/120491/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;">
Abby Mellick Lopes, Senior Lecturer in Design, Western Sydney University.
Cameron Tonkinwise, Professor, School of Design, University of Technology Sydney.
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/keeping-the-city-cool-isnt-just-about-tree-cover-it-calls-for-a-commons-based-climate-response-120491" target="_blank">original article</a>.
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Keeping the city cool isn’t just about tree cover – it calls for a commons-based climate response

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Knight Frank Australia has appointed Linda Rudd, its national head of asset management services, to join the board of directors.
 Linda will start her board responsibilities in September 2019. 
Linda has been with Knight Frank Australia for over seven years in the Asset Management Services (AMS) line of business.
She has over 15 years experience in the property industry. 
As part of a broader restructure, following the appointment of Rod Leaver as Chief Executive officer of Knight Frank Australia, it was recognised there was an opportunity to add different experience, and ways of thinking, to the Knight Frank board. 
“We are focused on building a customer centric and diverse business which takes a long-term growth view," Leaver said.
"This focus, paired with people who lead with a strong set of values, passion, mature thinking and diverse skill sets, really defines how we plan to move our business forward. Linda fits this profile and I have complete confidence she will add significant value to the board discussions. 
Linda Rudd, Partner noted Knight Frank encourages a sense of entrepreneurship amongst its employees.
"This environment, in addition to a great set of colleagues and clients, is why I am looking forward to working with the board, and making strategic, long term decisions for Knight Frank.”
Ms Rudd is a committee member for the Property Council of Australia and a Director of the Real Estate Institute of New South Wales. She joins the following Knight Frank Australia board members:
Board of Directors
Kevin Coppel                          Chair
Naseema Sparks                    Independent Director
Rod Leaver                             CEO 
Aaron McGhee                       COO/CFO 
Craig Dawson                         Head of Western Australia  Linda Rudd                             National Head of AMS
James Templeton                   Head of Victoria
 
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Knight Frank Australia appoints Linda Rudd to board

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NSW Fair Trading inspectors have uncovered 102 breaches of the law governing the sale and management of property, during a compliance operation in Sydney’s West.   
A NSW Fair Trading Commissioner Peter Dunphy said inspectors targeted compliance with licensing, completion of continuing professional development, trust account requirements, supervision, underquoting and signage.                   
“Our inspectors canvassed 31 real estate agencies across South West and Western Sydney and issued over 30 penalties totalling almost $40,000,” Mr Dunphy said.     
Fair Trading has conducted 12 compliance operations of real estate agents this year and issued almost $400,000 in fines.   
Agents were fined under the Property, Stock and Business Agents Act 2002 and Property, Stock and Business Agents Regulation 2014.   
“Inspectors predominantly uncovered non-compliance with the Rules of Conduct, supervision, licensing and record keeping requirements as well as underquoting,” Mr Dunphy said.    
Underquoting occurs when a real estate agent either verbally advises or advertises a property for a price that is less than the estimated selling price in the agency agreement they have with the seller. It is not considered underquoting when a property sells for a price more than what an agent estimated in the selling agency agreement.            
When quoting, agents responsibilities include:
<ul>
<li>Including their reasonable estimate of a property’s likely selling price in the agency agreement and providing evidence to the seller of how the estimate was determined;</li>
<li>Ensuring the highest price in a price range does not exceed the lower price by more than 10%;</li>
<li>Not using any statements such as “offers over” or “offers above” or “plus”.</li>
</ul>
“Fair Trading has conducted 12 compliance operations of real estate agents this year and issued almost $400,000 in fines. Inspectors are also focussed on supporting education and accountability in the industry, issuing warning letters for minor breaches and providing   education and advice to local businesses,” Mr Dunphy said. 
Inspectors are also focussed on supporting education and accountability in the industry, issuing warning letters for minor breaches and providing education and advice to local businesses,” Mr Dunphy said. 
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NSW estate agents cop $400,000 fines so far in 2019

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EXPERT OBSERVER
In Australia we saw the release of consumer and business surveys for August/September. Offshore, the ECB’s well telegraphed announcement of new stimulus largely met expectations.
As we saw in last week’s June quarter GDP report, the Australian economy is navigating a period of cyclical weakness. The question going forward is to what extent recent RBA rate cuts and tax offset receipts support the economy in the second half of 2019 and into 2020. Disappointingly, the private sector surveys released this week are yet to show any response.
Starting with the NAB Business Survey, not only was there an absence of a bounce, both conditions and confidence slipped further in August and remain at below average levels. Conditions declined 2pts to +1 – the softest result since 2014 – and confidence was down 3pts to +1. While employment conditions rose 2pts to +2 in the month, the trend is clearly moving lower. That stands in contrast to ABS employment growth figures which have held robust to July – the August update to be released next week.
Dour business sentiment was also echoed in the Q3 release of our Australian Chamber-Westpac survey of industrial trends. The Westpac–AusChamber Actual Composite index fell sharply to 52.9 in September from 61.5 in June, continuing the weakening trend seen since mid-2018.
Similarly for the household sector, our Westpac-MI Consumer Sentiment survey lapsed back into slight negative territory again, down to 98.2 in September from 100 in August. The survey contained additional questions on the new tax offset payments received from July 1 for the 2018/19 financial year. Just over 16% of consumers reported receiving a payment. Amongst that cohort, 29% planned to spend it all, and a further 16% planned to spend over half. The remainder (53%) planned to spend less than half including around 25% who planned to save the full payment. Yet, perhaps the most telling indicator of the impact of the new stimulus (or lack thereof) is our regular ‘finances vs a year ago’ sub-index which declined 2.5% to a well below average 84.3.
The sombre consumer mood stands in contrast to further affirmation that the residential property market is stabilising. This week’s release of July housing finance approvals showed the total value of finance up 5.1%. That is broadly consistent with the improvement in auction activity and prices seen through June to August.
It therefore appears that concerns about the state of the domestic economy, broader international conditions and employment are having a more dominant effect on the consumer mindset. New stimulus measures may need more time to have an effect, but at this stage, overall data are still painting a soft economic backdrop.
As such, we continue to believe the RBA is set to deliver 25bp cuts in October and February. Our RBA forecast is explained in our September Market Outlook released this week which covers our broader view on Australian and global economies, FX, rates and commodities.
Of note in this month’s edition is an update to our US forecast. As announced last Friday, we now expect in addition to our previous forecast of FOMC cuts in September, October and December, a further two cuts in March and June, taking the federal funds rate to 0.875%.
In that respect, Thursday’s ECB meeting offered an interesting prelude to next week’s FOMC meeting.
The ECB cut the deposit rate 10bps to -0.5%, moved to a tiered reserve system (for each bank, a multiple of six times minimum reserves will be exempt from the deposit rate charge and instead receive a juicy 0.0%), restarted asset purchases (€20bn per month pace and will persist for as long as necessary), repriced TLTRO's (cheap bank loans incentive rate 10bps cheaper at -0.5%), and strengthened forward guidance.
All up, the stimulus package broadly came in line with our own expectation. We did not anticipate the repricing of TLTRO-III but had expected a larger €40bn per month asset purchase program. We continue to believe the program will be lifted to that pace in 2020 and the deposit rate will be reduced to a low of -0.7%.
As we had seen going into the meeting, not all ECB members agree with the new stimulus, with some of the opinion that economic conditions were not weak enough to warrant restarting asset purchases. Draghi’s time as ECB president has faced significant criticism from within the ECB, and more recently, ire from US President Trump (who once again reiterated his belief that the ECB are targeting the exchange rate). But at his last meeting, Draghi did get a unanimous agreement that fiscal policy should be the main instrument going forward.
Finally, to finish on a more upbeat note, we did at least see some tentative positive developments this week in regards to the US-China trade war and, to some extent, Brexit.
The trade situation calmed down a notch after China released a list of goods that will be exempted from the retaliatory tariff on US imports. In return, the US offered a good will gesture by delaying the scheduled 25% to 30% tariff increase on $250bn of imports by two weeks to October 15.
With Brexit, we saw the Benn bill become law. This will effectively force PM Johnson to request a three month extension to the exit deadline unless a deal is found before October 19. Following that, the Government made a second attempt to call a general election, but once again, failed. Parliament is now suspended to October 14.
ELLIOT CLARKE is a senior economist at Westpac.
SIMON MURRAY is an economist at Westpac
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No signs yet of a rebound in consumer or business sentiment: Westpac 

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.

Joel Robinson

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.

[smartcode_project:default project_id=134646 project_image_fid=6116]

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]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Staff reporter

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