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It seems that nobody is happy about Fishermans Bend.

My first impression was that the design guidelines were quite good, but the public response has been scathing since the Strategic Framework Plan was released in late July. The usual old chestnuts of building height and transport provision dominate mainstream coverage of Australia’s biggest urban renewal project, just like they do whenever somebody tries to build above two storeys in suburbia. Occasionally a spectacular oversight breaks the monotony, in the worst way possible.

Still, the most interesting criticism I've heard so far is that this 'might be another Docklands'.

I suspect that the reason the response has been so generic and negative is that there isn't much to set Fishermans Bend apart in people's minds. Without anything distinct to latch on to, discussion naturally turns to standard worries about urban canyons and traffic jams.

This is a concern, because place identity matters. Rapid development without a clear identity is part of the reason Docklands sometimes still feels like a collection of towers, rather than a place.

I believe that the urban design standards advocated in the Strategic Framework Plan should give us a better built form than than in Docklands, if they're adhered to. But in terms of making Fishermans Bend unique and memorable, I think there's a big opportunity that is yet to be taken.

Instead of being remembered as Australia's biggest urban renewal project, Fishermans bend could become Australia's leafiest, lushest, and most sustainable suburb.

On an average year, 1.6 billion litres of rain will fall on Fishermans Bend. The drain at the end of every shower, and every tap, is a pretty steady source of water too. With 80,000 future residents taking showers each day, this greywater is a huge resource stream. It could be cleaned, and recycled, using natural systems of filtration through plants – while greening up the plants in buildings and open spaces.

Water Sensitive Urban Design isn’t a new idea, but this is a chance to do it at a vast scale, and reap accordingly vast benefits. Next time you're in Singapore, set aside a few hours to visit the Gardens by the Bay precinct to see how good this can look - if you can make your way through the crowds.

The greening driven by all this available water could be vertical, too. With good design, many of the new, tall buildings in Fishermans Bend could be covered in plants – like they’ve done at One Central Sydney, an apartment development blanketed in vertical gardens that not only looks fantastic, but also sold hundreds of apartments prior to construction. This aesthetic could be a nice counterpoint to the stark glass and steel of Docklands.

Rooftop greening doesn’t need to just be about beauty: it can also mean local production of food. Rooftop greenhouses, like they’ve got in Montreal and Brooklyn, operate at commercial scale and produce large quantities of food. These greenhouses could serve to cool and purify air for the residents of the buildings below them, too.

Going by current trends, the future 80,000 residents of Fishermans bend will produce around two tonnes of waste each, and around half of this will be organic. That’s 80,000 tonnes of organic waste, each year, going to landfill. Anything organic – whether it’s from the garbage bin or the toilet – can be used to produce natural gas (biogas). Biogas can be burnt in small, neighbourhood-scale gas systems to produce cheap heat and electricity (this is called ‘cogeneration’). Biogas use for cogeneration already happens in Denmark, and plans are in place for Sydney to go down the same path.

Even solar energy benefits from precinct-scale planning; locations best suited for large-scale solar generation (like they’ve got on the roof of the University of Queensland) could be identified, and height controls could ensure that these areas aren’t overshadowed. With 250 hectares to work with, the potential for panels is vast.

If we put all these ideas together, it becomes clear that, with the right combination of creativity and advanced technology, new suburbs can approach self-sufficiency, and in some cases become a source of resources instead of a sink. The devil is often in the detail with these things, but the potential is there – The thing is, planning for sustainability at the precinct scale requires serious government leadership; the current design guidelines for individual developments won't be enough.

Fortunately, tools to measure precinct-scale sustainability are already emerging globally, with the GBCA having recently released the ‘Green Star Communities’ tool, which takes the idea of star ratings beyond the usual focus of individual buildings. It also goes beyond environmental issues, with key parts of the tool focused on issues like liveability, governance, urban design and economic prosperity. It strikes me that these criteria could be helpful in guiding us away from the dire prediction of ‘another Docklands’.

It’s hard to create place from scratch, as the Docklands experience has shown, especially when it’s instantly compared to a CBD that’s over 150 years old. A true sense of place (or a ‘soul’ if you like) comes with age, but here at Fishermans Bend we have the opportunity to make a good start with memorable sustainability and aesthetic initiatives.

To its credit, the Strategic Framework Plan admits that it isn’t complete, and is clear there is plenty of scope for future review. With tower approvals already commencing in this area, I hope we see proactive, precinct-scale sustainability plans to seize the huge opportunities that the current plan isn't pursuing.

After all, the chance to develop a new suburb with a clear identity as Australia’s greenest, right in the heart of Melbourne, really is ‘once in a lifetime’ – as the pollies like to say.

Thami Croeser is a Town Planner at Tract Consultants and a Master of Urban Planning student at the University of Melbourne. Follow Thami on <a href="https://twitter.com/GibbonTake">Twitter</a>.

Lead image courtesy yarrariver.info.
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Tract TC

Fishermans Bend: how to avoid another Docklands

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Working at Tract Consultants near Bridge Road in Richmond gives me a front-row seat on the city's sad trend of high-street decline. Every day, I watch one of the city's key retail strips slowly lose tenants. Walking to get my lunch, I often pass three or four empty shops in a row - and the ones that are still open are having closing-down sales. My guess is that 30% of the shops are vacant.

This decline has been going on for a while, but yesterday I noticed a new sign of desperation: a number of shops on the street are displaying this poster in their windows.

<img alt="" height="429" src="/sites/urbanmelbourne.info/files/pictures/article-images/free-parking-sign-bridge-road.jpg" width="286">

This campaign felt misguided to me, but I couldn't quite put my finger on why.

That evening I walked past the new H&amp;M and UNIQLO - where there are still queues out the door on some nights. Next, I got home and unwrapped a parcel, containing a new pair of shoes I'd bought online, cheaply, from Asos in England.

It dawned on me - rather guiltily - that if our inner-urban shopping strips die, parking won't be the reason.

High-street retailers face two brutal competitors, in the form of big-box retail and online shopfronts. Both are vastly better at marketing, and have the advantage of advanced supply chains and economies of scale. This enables them to easily undercut small operators, even displacing the outlet stores of Bridge Road. They're simply more competitive - if you're only looking at prices.

The thing is, nobody dreams of living on a quaint little street with a friendly local lKEA, Zara and DFO. Large retailers, while cheap, are just as anonymous as eBay; they add no identity to the places they set up in, nor do their owners truly belong to the community in the way a small business owner does.

Small retailers are essential to the fine-grained, individual appeal of our Main Streets. These active, diverse frontages create the walkable, interesting environments that Australians from other cities marvel at. In short, small retail is an essential part of Melbourne's livability.

Despite this vital contribution to our city, the vacancies I see on Bridge Road suggest that we're collectively putting low prices first - or that at times we're content to act as 'free riders' by enjoying these beautiful streets while shopping in cheaper, less distinctive places. Maybe this is because we're subject to a constant economic narrative of 'belt-tightening'; maybe we just like having more stuff. Maybe shopping on the couch with iPad in hand is just easier.

Either way, the fact that residential development in these areas is moving at a crawl certainly isn't helping local retailers keep up. Sure, there are some apartment towers popping up behind the shops, buts this growth is too slow to offset the loss of regional customers. The local customer base isn't growing very fast, but the overheads - and competitors - are. Meanwhile, residential growth at the fringe (and in the CBD) continues apace, where regulations are more conducive.

I spoke to The University of Melbourne's Kim Dovey, Professor of Architecture and Urban Design, and he agrees that parking isn't the problem - but he isn't convinced that retail is in serious trouble.

<blockquote>
Bridge Road might be losing some retail space to online competitors, but high street retail will generally be fine. I'm hopeful that the less successful strips will become mixed spaces, with small-scale production workshops and studios filling the gaps between surviving stores.
<cite>Kim Dovey, Professor of Architecture and Urban Design, University of Melbourne</cite>
</blockquote>

I like the vision of Bridge Road as a place where things get made. Watching a 3D printer do its thing might be just as good as window shopping. I'm also hopeful that a rise in shop-top residential could effectively cross-subsidise street retailers, providing landlords with a new income stream and enabling them to ease off on retail rental rates, which are often blamed for high vacancy rates. Perhaps Bridge Road will simply shift from its regional factory outlet role into one focused on day-to­day local needs; this is working very well for Swan Street nearby.

Tract will be conducting a corporate forum on revitalizing Main Streets later this year, focusing on our doorstep - Bridge Road. Hosted from some vacant Bridge Road shops, our range of local and interstate experts will shed some light on why some streets thrive and why others dwindle.

From what I've seen, the successful Main Streets display authenticity, localism, and retail diversity. They need amenity from high quality streetscapes, an active trader association, and a growing residential catchment. Parking does matter, but it's only one factor among many and it doesn't solely explain the decline of Bridge Road. I look forward to a broader discussion later this year to bring out some really inspired ideas for the future of this iconic street.

Thami Croeser is an Assistant Town Planner at Tract Consultants and studies at the University of Melbourne. This article first appeared in Planning Institute of Australia, Victoria Division's "Planning News" June 2014 issue.
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Will free parking save Bridge Road?

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Lately, I’ve been spending a lot of time staring at blank brick walls.

Whenever I’m in Melbourne, I find myself doing this, and the question that always springs to mind is the same: “Why is nothing growing on these walls?”

In a city that’s generally quite efficient at filling empty spaces, the uncounted hectares of unutilised vertical space stay largely barren, year after year. This is despite an abundance of ways to cultivate vegetation vertically, and a broad evidence base on the many benefits of urban greening.

Recently, I did a bit of looking into the reasons for this lack of change, and the most straightforward answer I could find is that it isn’t directly profitable for anyone to green up these empty spaces. In fact, some green walls and facades can be quite expensive to establish and maintain. The same is true for green roofs, which can quickly perish if the wrong species and soils are used.

Despite the costs, the benefits of urban greening are substantial. Researchers have found that urban green roofs, walls and facades can reduce the urban heat island effect, reduce peak stormwater flows and improve air quality. Some studies suggest that urban greenery also reduces stress, increases property values, and even reduces patient recovery time in hospitals.

With such a suite of benefits, it’s worth asking how cities can encourage urban greening, since market forces alone aren’t doing the job at the moment. It may be that councils can get change happening by providing incentives – or even mandating greening. Around the world, governments are exploring options to green up urban spaces.

Melbourne is no exception. The IMAP (Inner Melbourne Action Plan) is an alliance of inner-city councils that recently completed a review of policy options for encouraging green roofs, walls and facades. The review identified quite a few options. One initiative that the review suggests is a reduced rates charge for buildings with green roofs, walls or facades. Other options to make greening more profitable might include fast-tracking of permit applications, waived planning fees or exemptions from some planning requirements. If set at the right level, these incentives have the potential to spark a wave of green developments on both new and existing buildings.

However, when I asked Dr Dominque Hes, a Senior Lecturer in Architecture at the University of Melbourne, whether an incentive like a rates discount would do the trick, she cautioned against silver bullets:

<blockquote>
A discount on rates or drainage fees could certainly get the ball rolling, but money isn’t the only challenge we face. Green infrastructure generally needs reliable irrigation and regular maintenance. It’s a novel concept to many building owners, and it can go wrong. When you’re talking about quite substantial capital outlays for unfamiliar building upgrades, the risk of failure can be offputting.
<cite>Dr Dominque Hes, Senior Lecturer in Architecture, University of Melbourne</cite>
</blockquote>

Fortunately, this sentiment is reflected by IMAP’s policy review. While financial incentives will help, councils have a role to play by setting good examples on public buildings, as the Victorian EPA has done with the green wall outside its offices on Victoria street. The review suggests that councils will also need to reduce unnecessary regulatory hurdles such as permit application requirements for small green infrastructure developments.

For some building owners, recognition might be as powerful an incentive as money. Rating schemes for building energy efficiency, like Green Star or NABERS, generally don’t give green roofs or walls much in the way of credit. This is despite the potential for greening to reduce cooling requirements in buildings. If having a green roof meant an easier path to a Green Star rating or a less demanding NABERS retrofit, some of the CBD’s blank walls might quickly go green.

Some cities have taken a different path. Cities including Toronto, Stuttgart and Copenhagen are opting for regulation on top of encouragement, in a bid to green up the city’s rooftops. For example, permit applications for most new buildings over 2000m2 in Toronto must have green roofs covering at least 20% of the total roof area.

Of course, any successful set of new policies to encourage greening must be accompanied by solid guidance on how to do this greening. Fortunately this guidance already exists; the IMAP’s Growing Green Guide gives a fairly thorough run-down on how to design, build and maintain green walls, roofs and facades.

With such an array of policy options, and an excellent information resource already in place, the ball is now in the court of policymakers. Watch closely in coming months as councils plan their next moves.

This article first appeared at <a href="http://tract.com.au/news/could-money-one-day-grow-on-rooftop-trees/">Tract Consultants</a>. For further information and additional articles, visit the <a href="http://tract.com.au/news/">Tract news portal</a>.
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Could money one day grow on rooftop trees?

Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.

Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.

The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.

The challenge for investors is that suitable product is becoming harder to find.

For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.

Today, the development pipeline looks very different.

Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.

That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.

At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.

We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.

The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.

&nbsp;

[smartcode_project:default project_id=150017 project_image_fid=370964]

Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.

True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.

<h2>Corallo, Palm Beach</h2>

Priced from: $841,500

Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.

The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.

[smartcode_project:default project_id=112194 project_image_fid=808]

For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.

<h2>Corner House, Stones Corner</h2>

<h2>Priced from: $880,000</h2>

One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.

One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.

[smartcode_project:default project_id=149098 project_image_fid=330594]

Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.

The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.

Parkdrive Apartments, Chermside

Priced from: $749,000

The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.

The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.

For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.

Joel Robinson

Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

Thami Croeser

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