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Developers who aim projects at foreign investors are facing bleak times under the Budget package.
New developments will be subject to a 50 percent cap on foreign investment off the plan sale approvals to “safeguard the opportunity for Australian buyers to purchase”.
The new regulation applies only to developments with at least 50 units. 
The current level is 100 percent after the Rudd government lifted it from 50 percent during the global financial crisis.
"We will restore the requirement that prevents developers from selling more than 50 percent of new developments to foreign investor," the Treasurer said. 
Meanwhile, foreign investors in residential real estate will be slapped with a “ghost tax” if they leave their properties empty or not available for rent for at least six months of the year.
The annual charge will be equivalent to the foreign investment application fee which was paid at the time of application and will work out to at $5000 plus annually.
The measure is expected to net $20 million in revenue over the next four years.
Earlier in February Property Observer published an article by Robert Simeon where the agent suggested the need to reverse the off-the-plan ratio back to 50 percent from 100 percent to overseas buyers. 
"We are now going into the ninth year of 100 percent and the only clear impact we are seeing is that foreign investors have become a most dominant player," he wrote.
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j.ballantyne1990-6AQqhLzZaK

Reins tightened for developers aiming projects at foreign investors in 2017 Budget

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The Federal Budget has given seniors a nudge as part of its attempts to ease housing affordability by getting them to downsize. 
From July 1, 2018, people aged 65 and over will be able to make a non-concessional contribution (NCC) of up to $300,000 from the sale of their principal residence into their superannuation, if they have lived there for at least 10 years.
With this move, the government aims to encourage empty nesters to downsize to free up more multi-bedroomed properties.
The downsizing contributions will be outside of existing contribution caps, and both members of a couple will be able to take advantage of the measure from the same home. The scheme is expected to cost the government $30 million in lost revenue over the forward estimates period, News.com.au reported.
The new incentive is in addition to concessions already permitted and will be exempt from the age test, work test and the $1.6 million balance test for the NCC.
The measures apply from July 1, 2018.
The budget measure has been welcomed by the SMSF Association.
Association Chief Executive Officer John Maroney it would allow a couple to contribute up to $600,000 from the sale of their home to superannuation outside of the existing caps and balance restrictions.
"This means people can make a significant top-up contribution to their super funds, allowing them to fund a dignified and secure retirement,” he was cited as saying by moneymanagement.com.au.
"While the measure may not be a significant trigger to encourage downsizing, we welcome the ability for older Australians to top up their superannuation where downsizing their home provides them with funds to do so.”
But there are concerns for down-shifters on how the extra super assets would reduce their part-pension entitlement.
SMSF Association head of policy Jordan George had advised caution about such a move ahead of the budget.
“Incentives to encourage people to downsize their home is a sensible idea,” George told selfmanagedsuper. 
But while the exemption was a good idea in principle, George said it was crucial to consider any ramifications of such a measure for people’s pension entitlements. 
“The assets test for the age pension when people downsize and the profit from downsizing may affect their entitlement to the age pension – that could become a significant issue,” he noted. 
KPMG tax partner Damian Ryan said allowing older couples downsizing to contribute to their super funds was welcome news.
"This will allow some older Australians to sell the family home and contribute some of the proceeds into superannuation,” he said, adding, “Those on the age pension are unlikely to take up this initiative.”
He said the measure would be attractive to a group of members who would like to sell their family home but due to contribution caps would have been prevented from topping up their superannuation balance, essentially transferring funds from one tax-preferred asset to another.
Also, residence requirements for the Age Pension and Disability Support Pension are increasing to 10 years continuous residence, including five of a person’s working life, which will affect about 2,400 people.
 
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Budget 2017 encourages downsizing by pensioners, caution urged on entitlements

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The Real Estate Institute of Western Australia said the 2017 Budget saw the need to improve housing affordability and address supply constraints as well retain negative gearing and Capital Gains Tax (CGT) arrangements for property investors.
Hayden Groves, president, REIWA said the emphasis on housing affordability is long overdue, and he is pleased the Government is driving policy to improve housing outcomes, by helping first home buyers salary sacrifice a proportion of their pre-tax income.
"The Budget also encourages senior Australians over 65 to down size by making a non-concessional contribution of up to $300,000 into their superannuation fund from the proceeds of the sale of their principal home," he said.
“While we’re pleased the Turnbull Government have recognised the need to assist Australian seniors with housing affordability, more still needs to be done.
"REIWA will continue to advocate for reform to transfer duty, specifically a $10,000 concession for seniors to ‘right size.
The wins for small business owners included:
<ul>
<li>Small businesses with a turnover of up to $10 million will continue to be able to immediately write off expenditure up to $20,000 for a further year.</li>
<li>The Federal Government will take further action to reward States and Territories that cut red tape costs for small businesses.</li>
</ul>
"Most of our members are small business owners and these initiatives by the Federal Government will be a welcome relief to them given the challenging market conditions the industry is currently facing.
"although there were many positives for the WA real estate industry in the Budget, the Institute was disappointed the Government has chosen to slug foreign investors with a $5,000 levy if they fail to occupy or lease their property for at least six months each year.
"Additionally, the 2017-18 Budget prevents developers from selling more than 50 percent of new developments to foreign investors.
“Foreign investment in WA represents a very small proportion of our local market. These policies will only further dampen an already subdued housing market and deter foreigners who are not permanent residents to locate and live in WA."
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2017 Budget focus on housing affordability welcome news for Western Australia

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First home buyers will finally be able to top up their superannuation to save for a lower taxed deposit under the federal government’s wide-ranging housing affordability package.
Under the scheme for first home buyers, existing super balances will remain locked away.
But from July 1, savers will be able to salary sacrifice extra contributions into their superannuation account above the compulsory contribution, up to a maximum of $30,000 in total and $15,000 in a single year.
They will then be able to withdraw that cash from July 1, 2018 onwards, along with any associated earnings.
“Under this plan, most first home savers will be able accelerate their savings by at least 30 per cent,” Treasurer Scott Morrison said in his budget speech.
The SMSF Association Chief Executive Officer John Maroney says the Government initiative linking housing and superannuation offers superannuation funds, including the SMSF sector, an excellent opportunity to engage younger fund members in their superannuation.
The first home buyers’ proposal strikes the right balance between encouraging young people to save for a first home deposit in a concessional tax environment, but also protecting their retirement savings for the longer-term.”
Villawood Properties has applauded the First Home Super Saver Scheme, announced in last night’s Federal Budget.
Its executive director, Rory Costelloe, said the Budget’s housing affordability measures would be embraced by many who had been struggling to save a sufficient deposit in a market where prices continue to grow at unprecedented rate. 
"The Government's salary sacrifice option for first home buyers signals greater consideration for the wider market as it supports the first home buyers, without taking anything away from the wider market. 
“It's difficult for traditional young first home buyers to compete with the volume of new buyers, particularly given that Victoria had an immigration boost of 110,000 people last year. 
“The comparatively modest amount allowed for salary sacrifice will also mean there's not a sudden influx of purchasers on the market ready to buy, which would escalate already high demand even further,” Mr. Costelloe said. 
Costelloe added that giving new buyers access to funds through schemes such as the salary sacrifice option and revisions to First Home Buyers benefits were not enough to cool the housing market and that there is a real need slash current delays in getting land to market. 
“Victoria currently on has 21 days’ worth of supply of land on the market, in a competitive market its more like 90 days, the real answer to affordability is to increase supply - this means reduce planning red tape and third party appeal rights to allow developers to get sufficient supply to the market,” said Mr Costelloe.
Dubbed the “First Home Super Savers Scheme”, it will attract the tax benefits of superannuation, with contributions and earnings taxed at 15 per cent, rather than marginal rates, and withdrawals taxed at 30 per cent below their marginal rate.
“Savers will not have to set up another account, they can just use their existing super account and decide how much of their income they want to put aside to save for their first home deposit,” Mr Morrison said.
<div id="unruly-publisher-marker__inArticle">For an idea of how it would work, the government gives the example of “Michelle”.</div>
Michelle earns $60,000 a year, and salary sacrifices $10,000 of her pre-tax income into her superannuation account, boosting her balance by $8500 after contributions tax. After three years, she can withdraw $27,380 plus earnings on those contributions, paying tax of $1620, leaving her with $25,760 for her deposit. That works out to about $6240 more than if she had saved in a standard deposit account.
The scheme is expected to cost the budget bottom line $250 million over four years, while the Australian Taxation Office will be given an additional $9.4 million for its implementation.
Siobhan Hayden, HashChing COO, said Any Federal initiatives that allows Australians to salary sacrifice a proportion of their pre-tax income towards a deposit "is a good initiative." “However, Australia is not a single housing market, and therefore any single measure introduced by the Federal Budget to address this holistically will not be successful. “Supply issues still prevail, which continues to elevate prices in highly sought after suburbs. “Even those living in expensive suburbs are surprised by their own asset appreciation. “Innovative lending products will need to be introduced by existing lender participants, whereby multiple applicants can borrow but are proportionately liable. 
 “In the medium term, the Federal government should do a comprehensive review of the tax tabled on a new house build which is currently circa 40%,” she said.
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Voluntary super scheme for first home buyer savers in 2017 Budget

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Treasurer Scott Morrison’s ‘scalpel’-like approach to address housing affordability involves incentivising private investors to with tax discounts if they offer their property at below-market rents.
As part of the Budget announcement, the government will introduce a new National Housing and Homelessness agreement with the states and territories to ensure a supply of housing for those most in need. The agreement includes $375 million of government funding for housing for the homeless and those needing crisis accommodation. 
Beginning next year, private investors would be offered incentives to invest in affordable housing, with a 60% discount on capital gains if they provide their property at below-market rent and to tenants on low-to-moderate incomes managed by a registered community housing provider. 
The government will also establish a trust to get investors – both foreign and domestic – interested in investing in affordable housing.
“It’s a comprehensive plan, it’s not a silver bullet – nor is it intended to be,” Morrison was cited by saying in his budget lockup press conference by crikey.com.au.
Managed Investment Trusts (MITs) will be allowed to invest in affordable housing and investors who buy into these trusts will see an increase in the capital gains tax discount they receive of 60 percent up from 50 percent.
The discount, which will cost the government about $15 million over two years, helps to compensate for the lower yield on investing in social housing, according to The Australian Financial Review.
As another move to encourage investors, the government will strengthen the rent guarantee in these homes by allowing direct deductions of welfare payments from tenants. But investors must keep the property rental affordable for at least 10 years to get the discounts.
The establishment of a National Housing Finance and Investment Corporation (NHFIC) will provide $63.1 million over four years to operate a so-called “bond aggregator” that aims to provide cheaper financing for community housing providers. This is a good idea that should have a positive effect, and help address the high cost of funds that often plagues financing of housing for low-income earners, said economics professor Richard Holden. 
However, the federal government's budget met with its dose of scepticism from industry players.
Sara Watts, interim CEO of City West Housing, said the budget didn't go far enough on rental affordability.
“Last night’s budget doesn’t go far enough to address affordable rental housing shortfalls in our major cities, particularly for those who may never be able to afford their own home. Nor did the government add any clarity to the discussion about the difference between affordable housing and housing affordability. As a consequence, many key workers are no closer to being able to live near their place of work," said Watts.
However, she did welcome the introduction of a National Housing Infrastructure Facility that seeks to providing long-term, low cost financing for affordable rental housing.
"This will help affordable housing developers fund the construction of high-quality affordable rental housing stock."
 “For more than 20 years, City West Housing has designed, built and tenanted award-winning affordable housing for key workers in the City of Sydney area. Today, City West Housing owns and manages over 700 properties, has delivered 104 new properties into the market in 2016 and will have another 310 properties available to key workers by the end of 2019,” added Watts.
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Budget 2017 promises capital gains tax discount for affordable community housing investors

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The housing focus in the 2017 Budget sends an important signal to the community the Government is serious about delivering more affordable housing, according to the Housing Industry Association.
Graham Wolfe, deputy managing director, HIA said there are no simple solutions but providing well targeted assistance to help first home buyers save for their first home and to providers of community housing through the ‘National Housing Finance and Investment Corporation’ will make a difference.
“Although not an affordability measure, the incentives for ‘downsizers’ will also help stimulate the supply of new housing more appropriate to the needs of our seniors," he said.
“Much of the work to improve housing affordability rests with state and local governments and the Budget has made significant commitments to encourage action.
"The National Housing Infrastructure Facility has $1billion behind it is more than just window dressing.
“Linking the National Housing and Homelessness Agreement’s $1.8 billion to the states and local governments delivering improved housing supply and better planning systems is a significant and welcome reform.
“The ‘city deals’ expansion into smaller scale projects is also a welcome development: the big ticket projects are important but much can be achieved by removing obstacles to more efficient delivery of homes.
“However HIA is concerned about the negative impacts on residential building from the Budget’s measures on foreign investment.
“Plans to tax vacant homes, limit the share of foreign investment in new projects and increase foreign investor duties all send exactly the wrong signal to potential investors in Australia.
“HIA would urge the Government to build on the Budget’s initial steps towards more affordable housing by making this a standing item on the COAG agenda.
“In the meantime HIA will continue to urge the Government to undertake a thorough national inquiry into housing affordability and establish a mechanism for the regular monitoring of the crucial supply of land for the residential building industry."
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2017 Budget is a step towards housing affordability: HIA

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The Real Estate Institute of Australia has applauded announcements made in the 2017 Budget to address housing supply and affordability.
Malcolm Gunning, president, REIA said he is pleased that the Government reiterated that it will not remove or limit negative gearing or change the capital gains tax as this would increase the tax burden on Australians trying to provide a future for their families.
“The boost to infrastructure spending, measures to improve housing supply, the extension of small business concessions, and the retention of the current negative gearing as well as CGT arrangements for taxation of property investments will help ensure that the property sector remains an important contributor to economic growth,”  he said.
"This recognises that the current arrangements increase the supply of housing for our growing population, keep rents affordable and ease the burden on social housing.
“With home ownership in Australia declining and first homebuyers finding it increasingly difficult to enter the housing market, allowing first homebuyers to build deposits with superannuation through voluntary contributions is welcome.
“Whilst REIA has advocated for a more aggressive approach to bridging the deposit gap by allowing first homebuyers access to existing balances in superannuation accounts the Government’s initiative will reduce the time taken to save for a deposit by around 25 percent.
“The change in the threshold for foreign resident capital gains tax withholding to $750,000 from the current $2 million is not welcome and could be considered misguided as most foreign investors buy higher valued properties in Sydney and Melbourne and to a lesser extent in Brisbane.
“It is more red tape and not necessary. With the median house price of $743,776 across Australia this will mean most properties will be subject to this requirement and results in more work for sales agents and conveyancers and depending on the workload this presents for the ATO may even delay settlements.
“With forecasts of moderate growth, an improvement in the unemployment rate, inflation well within the RBA’s target zone, the Budget is welcome news for home owners, prospective buyers and renters."
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2017 Budget welcome news for home owners, prospective buyers and renters: REIA 

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The federal budget has addressed housing affordability issues in the Budget with an emphasis on “building more homes”, and Western Sydney figures prominently in it.
Treasurer Scott Morrison said there would also be “tens of thousands” of new homes delivered in western Sydney as part of the “Western Sydney city deal”.
The population of Western Sydney is expected to reach 1.4 million people by 2036, so an additional 180,000 new homes and jobs creation is required to support this population growth. 
The Western Sydney City Deal between the federal and state governments, according to the Urban Developer, pledges to;
<ul>
<li>target additional infrastructure investment to increase public transport and reduce traffic congestion, so people can spend more time with their families</li>
<li>deliver more jobs closer to homes and services, with a focus on youth and indigenous training and skills development.</li>
<li>increase housing through better planning and density done well, and streamlining approvals across all three levels of government</li>
</ul>
Since the election of the NSW Coalition government in 2011, there has been a renewed push for not only better infrastructure in Western Sydney, but also to decentralise Sydney by moving government offices that have traditionally resided in the CBD and migrate them to outer suburbs such as Parramatta and Liverpool.
NSW Premier Mike Baird and then Prime Minister Tony Abbott had first announced a second airport in Western Sydney’s Badgerys Creek. Baird and Prime Minister Malcolm Turnbull in October 2016 called the Western Sydney City Deal the "nation’s largest ever planning and investment partnership".
The federal government recently promised to build the Western Sydney Airport after the owners of Kingsford Smith Airport declined the offer.  It will provide up to $5.3 billion in equity to establish WSA Corporation Limited from 2017-18 to develop the airport. Works are expected to commence by late 2018 and airport operations by 2026, creating 20,000 jobs.
The push for Western Sydney housing began in 2014 when planning policy changes allowed 2,500 Western Sydney home sites to be instantly brought online.
Property Observer wrote that multi-storey residential towers are expected to be built in many parts of Sydney as numerous areas undergo a rezoning. 
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Western Sydney to have 'tens of thousands' of homes, says Budget 2017 

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Negative gearing remains, but the entitlement rules are being tightened around what can be claimed by property investors on travel expenses.
Investors will no longer be able to claim tax deductions for travel expenses “related to inspecting, maintaining or collecting rent for a residential rental property” from July 1.
Of the nation's 2 million landlords, about 1.3 million are negatively geared.
The measure is intended to “address concerns that many taxpayers have been claiming travel deductions without correctly apportioning costs”.
The government expects the travel changes to bring in an extra $540 million in revenue over the next four years.
Australia's 1.3 million-strong contingent of negatively geared landlords will no longer be able to claim travel expenses for inspecting their residential properties.
It also applies for travel to collect rent on a property.
At present, travel-related ­expense claims related to inspections but in reality ‘holidays’ is costing the government more than $160 million a year.
"This is an integrity measure to address concerns that many taxpayers have been claiming travel deductions without correctly apportioning costs, or have claimed travel costs that were for private travel purposes," the budget papers say.
It does not apply to commercial property.
Property management fees for third parties such as real estate agents will remain tax deductible.
The 2017 budget sees rules being tightened around what can be claimed by property investors, specifically around depreciation deductions.
<div>
 
</div>
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Property investors to lose travel expense tax claims: 2017 Budget

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The 2017 Budget sees rules being tightened around what can be claimed by property investors, specifically around depreciation deductions.
Under new rules coming into effect from July 1, depreciation deductions for plant and equipment items such as washing machines and ceiling fans will only be allowed if the investor actually bought them.
Of the nation's 2 million landlords, about 1.3 million are negatively geared.
It is described as an “integrity measure.”
It is intended to address concerns that items are being claimed as tax write-offs by successive investors in excess of their actual value.
It is calculated to claw back $260 million over the next four years of the budget.
The changes will apply to any items purchased after budget night, May 9, but existing investments will be grandfathered.
"Acquisitions of existing plant and equipment items will be reflected in the cost base for capital gains tax purposes for subsequent investors."
Those investments will continue to give rise to deductions for depreciation until the investor no longer owns the asset or the asset reaches the end of its effective life.
Assets purchased after budget night will attract a deduction over the effective life of the asset but subsequent owners will not be able to claim deductions on that asset.
Investors will also no longer be able to claim <a href="/expert-insights/69959-property-investors-to-lose-travel-expense-tax-claims-2017-budget" target="_blank">tax deductions for travel expenses</a> “related to inspecting, maintaining or collecting rent for a residential rental property” from July 1.
The government expects the travel changes to bring in an extra $540 million in revenue over the next four years.
It intends to use the “integrity measure” to fund a first-home buyers’ scheme, which will allow $30,000 to be salary sacrificed into a superannuation account at a concessional tax rate.
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Property investors to lose depreciation deductions on furniture: 2017 Budget  

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

Joel Robinson

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

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

Lendlease selected to deliver transformative South Brisbane riverfront precinct

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

First look: Level 33 upsizes Wollongong apartment towers

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

First look: Urban Property Group plans next major Wollongong tower

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

Staff reporter

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