In the space of a decade, Melbourne-based developer <a href="/developers/icd-property">ICD Property</a> have grown from a small, family-ran outfit to become one of the go-to joint developer partners for a number of Australia's largest mixed-use projects.

They've worked on a number of developments with <a href="/developments/melbourne-vic">City of Melbourne</a> in recent years, while currently undertaking the redevelopment of Market Square in the heart of Adelaide with the <a href="/developments/adelaide-sa">City of Adelaide</a>. They're also progressing what might be their most impressive project of all, the redevelopment of the heritage-listed <a href="/new-apartments/sydney-house-194-204-pitt-street-sydney">City Tattersall Club in the heart of Sydney</a>.

ICD's Deputy Managing Director Sal Quah, who has been with ICD almost since its inception in <a href="/developments/melbourne-vic">Melbourne</a>, says the plan was to always get to a stage where they were producing show-stopping mixed-use projects in the heart of the country's biggest cities.

[smartcode_project:default project_id=12428 project_image_fid=152515]

"Ultimately the goal was to create city-centric, mixed-use buildings which we could point to and say 'we developed that'", Quah said.

The company started as a family business in 2009, founded by developer Michael Mai. They started with smaller projects in Melbourne's inner ring, before realising the best way for the company to scale was to work in a partnership, whether it be with a co-developer, private investor, funding partner, or a city council.

In their native Melbourne they're developing <a href="/buildings/aspire-melbourne-301-king-st-melbourne">Aspire Melbourne</a>, the strikingly curved King Street tower which has been designed by award-winning architect Elenberg Fraser. They've previously had success in the city centre with the <a href="/buildings/eq-tower-127-abeckett-street-melbourne">A'Beckett Street EQ. Tower</a>, which sold out 80 per cent of its apartments within two months of the project launching.

<a href="/buildings/eq-tower-127-abeckett-street-melbourne">EQ. Tower</a> was also&nbsp;Melbourne's fastest approved planning permit by the Planning Minister at the time of the development, as well as&nbsp;Australia's single largest bank loan for a residential development by Commonwealth Bank Australia at the time of development.

Their move into the <a href="/new-apartments/sydney-nsw">Sydney market</a> came in 2015 when they were invited to participate in a joint venture proposal with the <a href="/new-apartments/sydney-house-194-204-pitt-street-sydney">City Tattersall Club</a>. Only a handful of parties were invited to participate to pitch for the redevelopment.

[smartcode_project:default project_id=12428 project_image_fid=152516]

The 12 month process saw ICD the preferred partner for the redevelopment of the <a href="/new-apartments/sydney-house-194-204-pitt-street-sydney">iconic Pitt Street building</a> near Martin Place.

"Sydney was always on the radar - it's the New York of Australia," Quah said.

"If you make it to Sydney, you make it to the global stage."

The City of Sydney have strict planning rules, particularly in the CBD, where a design competition must be held to determine the best outcome for the project. Three or four architecture firms pitch their designs, and a panel determine the preferred design.

BVN Architecture won the tender in mid-2020 to design the 49-level tower which will soar above the heritage-listed building below, which will be significantly restored. fjcstudio has been retained as the architect for the heritage component of the building.

[smartcode_project:default project_id=12428 project_image_fid=152518]

Quah said that while the design competition means the council can protect the landscape and the interest of the city, it will limit the supply given the extra layer of complexity it brings to the development process.

All in all, <a href="/developers/icd-property">ICD</a> liked the design competition exercise, so much so ICD took the idea&nbsp;to New Zealand when they were developing their Auckland tower 65 Federal Street, inviting the likes of Zaha Hadid, Elenberg Fraser, and Warren &amp; Mahoney among others to submit their concept designs.

Quah said the designs put forward to the City of Auckland Council has had a major knock on effect to how the city looks at what's permissible.

"65 Federal Street is the first approved tower that is more than double the permissible floor space ratio," Quah said.

"That's a true testament to the excellence in design."

The project was fast tracked by&nbsp;Minister of Environment James Shaw.

"The quality in design now has the City of Auckland Council considering removing the floor space ratio, as long as you can prove the right solution for the site."

Earlier this year <a href="/developers/icd-property">ICD</a>, who are joint venture partners with First Sponsor on the City Tattersall Club redevelopment, appointed Richard Crookes Construction to handle the build of the tower which will comprise 241 apartments, a high-end hotel, and a refurbished club space.

ICD's Deputy Managing Director Sal Quah says the plan was to always get to a stage where they were producing show-stopping mixed-use projects in the heart of the country's biggest cities

Joel Robinson

How ICD became the go-to development partner for Australia's biggest councils

When Michael&nbsp;Pesochinsky co-founded PB &amp; Co. in 2018, his vision was a simple yet ambitious one, to create an unparalleled level of luxury never seen in the Australian property market.

While luxury is a subjective term, banded around the real estate industry like boutique, there's no denying what PB &amp; Co. have produced, and are looking to produce, doesn't fall under the luxury in anyone's eyes.

Their most recent project, Fifty Two Black, has elevated the status of luxury in Brighton, one of Melbourne's most affluent areas.

Recently catching up with Pesochinsky, he said that when the team were putting the plans together for 52 Black, they asked themselves the question: 'How do we create something of the absolute highest quality that hasn't been done before?'

They concluded that things like 3.3-metre high ceilings, Wolf and Sub Zero appliances, and 15 different types of stone and marble which took six months for artisans to craft, were some of the key inclusions in the project of just five apartments.

"Because we were targeting the ultra luxury downsizer market, who are looking at something like 52 Black as their true forever home, we needed to create something that they weren't accustom to seeing in the high-end downsizer space before,"&nbsp;Pesochinsky said.

<img alt="52 Black" data-entity-type="file" data-entity-uuid="965c0e07-60f9-4eb9-86de-bca4be543926" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-13%20at%203.13.41%20pm.png?VersionId=ddZTPp7Hs5OoYPtg2XUoq7D0.cJetpXN" />

Pesochinsky said that while a lot of other developers are looking at cutting costs to either make projects financially viable or to maximise profits, they decided to go the other way.

"We wanted to create something buyers would typically expect when building their own home.

"When you build your own home, particularly the affluent suburbs, a lot of the time you tend to over capitalize. We wanted to essentially take that headache away, and have these features all included in the sale price."

The project secured silver in the Melbourne Design Awards, and it's looking likely it will be a finalist in the 2023 Dezeen awards, the revered architecture, interiors and design magazine.

Pesochinsky decided to wait for the project to be finished to sell the apartments due to the stop start nature of construction, and therefore marketing campaigns, throughout the rolling COVID lockdowns.

And while stock at that end of the market takes longer to sell than more traditional newly completed stock given the price tag, the apartments are yielding around two and a half times the standard rental prices seen in Brighton.

Having completed high-end projects on Toorak's Clendon Road and East Melbourne's Jolimont Street, PB &amp; Co are off to Sydney in their next venture, a luxury project on the Harbour's edge.

They secured a prime waterfront site in Kurraba Point, in the Lower North Shore, three years ago.

"We felt at the time the market in Sydney was about to explode," Pesochinsky recalls.

"It was bubbling, and prices were rising, but subsequent to our purchase, prices escalated."

The decision was both economically driven, given the capital growth of the Sydney luxury market, and a personal one.

"If you're going to produce the best, you've got to be in the best location,"&nbsp;Pesochinsky said.

"To create a product that is at that pinnacle of luxury, you need to be in an appropriate location to sustain the prices it'll cost. We really wanted to get into that next level of quality and luxury, because that further's people's buying capacity."

PB &amp; Co. had renowned architect Koichi Takada put plans together for just 10 residences across the 4,200 sqm block&nbsp;in Kurraba Point, which slopes down to the water.

<img alt="Takada" data-entity-type="file" data-entity-uuid="7fc981b2-7244-4567-ae11-bab4d536f657" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-13%20at%203.07.11%20pm.png?VersionId=_7ltJaMYfqo4I3vep2rkpotkH8qElrkZ" />

Speaking on using Takada,&nbsp;Pesochinsky said that they wanted to make sure, if they were going into the Sydney market, they were going to go with someone who represents quality and luxury in design.

A conscious effort has gone in for the project to be highly sustainable. Not only has the project been designed carbon neutral, but it will operate carbon neutral too.&nbsp;

Takada said in the design statement submitted to the local council last November that the&nbsp;overall vision is for a transformative project which embodies the idea of ‘regenerative luxury,’ inspiring a zero-carbon lifestyle for it’s residents.

"This project will lead the way in the luxury housing market and support the New South Wales state government objective to achieve carbon neutrality by 2050."

<img alt="Takada" data-entity-type="file" data-entity-uuid="c4986dbc-ca27-4ed4-bc17-549da3062428" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-13%20at%203.07.18%20pm.png?VersionId=5Sbdi9gTzzbLGLMDIaR0chg_qo7B9x6W" />

Pesochinsky says that while Melbourne has a lot going for it, consistently named one of the most liveable cities in the world, it will never compete with Sydney in the luxury apartment space.

"The big difference between Melbourne and Sydney is that Melbourne doesn't have the views, that's what escalates the prices," Pesochinsky says.

"The landmarks in Sydney on the Harbour takes luxury to the next level. There's not too many places in the world that can match it."

Pesochinsky said that while $15 million plus in Melbourne would be a particularly high price paid for an apartment, it's "the norm" in Sydney.

PB &amp; Co. are hoping for development approval in Kurraba Point toward the end of 2023.

While luxury is a subjective term, banded around the real estate industry like boutique, there's no denying what PB & Co. have produced, and are looking to produce, doesn't fall under the luxury in anyone's eyes

How PB & Co. are redefining the luxury downsizer market: Five minutes with Michael Pesochinsky

It was the creative licence in property development that first lured the then Jeans West Director Mark Stevens into the game back over 25 years ago.

In 1997 he founded Kokoda Property, with his first development being a renovation of a house in the eastern suburbs of Melbourne. Fast forward a quarter of a century and they've completed over 100 projects in Melbourne, and they've just <a href="/news/qld/kokoda-snare-last-remaining-riverfront-in-teneriffe-for-mixed-use-development">spent a record $100 million on a 17,600 sqm site</a> in Brisbane's Teneriffe which is one of the last of it's kind.

"Ultimately it was a real love of architecture," Stevens told me when I asked him what took him from the corporate world to developing property.

He said always loved the creative process.

"Architecture allows you to create an environment, and I really believe architecture can change the way you feel."

Over the years Stevens' architecture preferences have changed somewhat.

"I used to be besotted with&nbsp;classicism," Stevens said. Now he's into "uber-cool modern."

Kokoda's striking Malvern project, the Malvern Collective, is a testament to the uber-cool, modern design. Two glass-facaded buildings rise from a more heritage-style streetscape.

[smartcode_project:default project_id=12457 project_image_fid=200172]

It was Stevens' love of architecture, paired with his passion for gardens and wanting to develop in another economy, that led him to Brisbane around 10 years ago.

While he'd travelled to Brisbane in his more corporate life, Stevens admitted that he didn't really know it as well as he'd like. He says however he will never forget his first visit.

"When I saw James Street (in Fortitude Valley) for the first time, I remember saying to myself 'oh my god, what an amazing precinct.'

"It has a story to tell. There's nothing like it in Melbourne," Stevens said.

There was the draw of Brisbane's climate and the Brisbane City Council's Buildings That Breathe Design Guide, which encourages developing to the climate. More than any other capital, there's more encouragement to incorporate gardens into high-rise towers, something which Stevens also had a personal affinity towards.

"I've always had a real passion for gardens, and I've invested a lot in them over the years," Stevens said.

He believes gardens change the topography of the street.

"With gardens you see a big difference between say summer and autumn, whereas architecture doesn't change."

Stevens says Brisbane offers an amazing climate and amazing amenity, particularly in the life of Teneriffe and New Farm, where living near the river offers a perf

Kokoda's first Brisbane project was the two-tower Chester &amp; Ella in Newstead, which was completed in 2020. Kokoda stayed waterside with their most recently completed project, The Ambrose in Milton, which was finished earlier this year.

Now the team are preparing to launch Ruby Ruby, a 21-level tower with 145 apartments, just around the corner.

<img alt="Ruby Ruby" data-entity-type="file" data-entity-uuid="0e62f0f8-8731-4aca-8ced-4b689815aac8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-10%20at%201.32.57%20pm.png?VersionId=itC5hruAoFXlJSzFuICTJAlRdtX4MYI3" />

Both The Ambrose and Ruby Ruby have been designed by Cottee Parker, who Stevens says are very open to different styles.

The burgeoning developer is also at the early planning stages of the masterplan precinct in Teneriffe which they secured early last year. The 17,600 site Skyring Terrace riverfront block will be transformed into a $1.75 billion mixed-use development that will activate the waterfront at a scale not yet explored.

Kokoda’s vision for the site comprises apartments and townhouses, a waterfront office tower, a luxury hotel, a retail precinct comprising high-end luxury retail and F&amp;B, and a&nbsp;marina, connecting the expanding Brisbane riverwalk replete with waterfront hospitality, retail and dining.

"We're in the design and development phase of what we think will be a game-changing precinct in Brisbane for years to come," Stevens said.

"It's very community focussed. We're giving a lot back to open space and architecture. It will be a place-making experience. It's not a case of putting what we can on the site, it's about being respectful to what's there, as well as the history of the area."

While there's considerable hype about Brisbane's future growth prospects due to the 2032 Summer Olympics, Stevens said it's not what defines the Queensland capital.

"The Olympics isn't what will make Brisbane amazing. It was already amazing before it got the Olympics," Stevens said.

"If you look at the history of The Olympics, they're being hosted by cities that don't need them to be come amazing. Think San Francisco, Tokyo, London.

"What the Olympics will bring is international attention so the whole world can see Brisbane's appeal."

It was the creative licence in property development that first lured the then Jeans West Director Mark Stevens into the game back over 25 years ago

How a love of architecture inspired a move into property development: Five minutes with Kokoda's Mark Stevens

Prominent Western Sydney developer builder&nbsp;ALAND&nbsp;is on track to deliver 652 new homes this year to the heavily undersupplied New South Wales property market.

&nbsp;

ALAND, who recently celebrated 20&nbsp;years in operation, is on track to deliver hundreds of new homes after topping out two of its most significant residential projects in Sydney’s western suburbs.

Stage one of The Gladstone Village in Merrylands, dubbed Quartz, and their Carson on the Park project in St Marys, both reached their highest structural points recently.

The 652 apartments set to be completed this year make up around 50 per cent of&nbsp;ALAND&nbsp;apartments currently under construction this year, with a further 6,500 new homes in the pipeline.&nbsp;

[smartcode_project:default project_id=7642 project_image_fid=197117]

ALAND&nbsp;Chief Executive Officer George Tadrosse says Sydney’s chronic housing shortage and a high demand from buyers and investors was driving its strategy.

“We take a medium- to long-term view on our projects,"&nbsp;Tadrosse says.

"We can see development approvals dropping off and supply slowing yet demand continues to increase. There’s a need for projects in Western Sydney for buyers who want to enter the market or investors looking to build their wealth.

“Our expertise is in identifying the best sites for quality living for owner occupiers and tenants, close to amenities, and beautiful finishes at an affordable price point. We’ve proven there’s demand for this and we continue to deliver on our promise to provide much-needed housing.”&nbsp;

Tadrosse attributes&nbsp;ALAND’s successful project delivery to its position as a multidisciplinary development and construction company&nbsp;

“As a developer builder, we are better equipped to be able to manage the various pressures at play and keep moving ahead,” Tadrosse added.

“We have between 300-400 construction workers on each project, some of whom have been with&nbsp;ALAND&nbsp;for up to 20 years. We’re fortunate to have a loyal and dedicated team that shares&nbsp;ALAND’s vision and commitment to deliver high-quality stock to the market.”

On track for completion this year is Carson on the Park in St Marys which will deliver 289 new apartments priced from $475,000 and Quartz in The Gladstone Village, Merrylands offering 363 new apartments starting at $567,000 for a one-bedroom.&nbsp;

[smartcode_project:default project_id=7642 project_image_fid=197136]

By 2024, Paramount on Parkes in Harris Park, on the fringe of Parramatta CBD will deliver 331 new apartments with prices beginning from $705,000 and Archibald by&nbsp;ALAND&nbsp;in Gosford with 363 new apartments starting from $450,000 for a one-bedroom.

ALAND&nbsp;Founder and Director Andrew Hrsto says with its focus on meeting the demand for inexpensive housing stock in NSW,&nbsp;ALAND&nbsp;is committed to forging ahead and delivering new homes to the market where they’re needed most.&nbsp;&nbsp;&nbsp;

“The completion of these projects has been a priority for us as we recognise the urgent need for affordable housing options in the region. This is in line with our commitment to deliver quality homes that represent true value for money to help alleviate the current housing supply issue in NSW,” Hrsto says.&nbsp;&nbsp;

“We are dedicated to providing immediate relief to the market and we understand that solving the housing crisis requires more than just a pipeline of future developments. It is about forward thinking and addressing the issue head-on to ensure that stock is available now.”

The average price for a two-bedroom apartment across available&nbsp;ALAND&nbsp;stock is $650,000 – around 38 per cent less than Sydney's median dwelling value – allowing more people to enter the market as property in this price range qualifies for several government incentives.&nbsp;

[smartcode_project:default project_id=134670 project_image_fid=208154]

“At our accessible price points, we continue to see interest from first home buyers and investors, with the majority of&nbsp;ALAND&nbsp;projects selling out prior to completion, proving there is demand for high-quality housing where prices are achievable for buyers entering into the market,” Hrsto says.

Carson on the Park is over 85 per cent sold, with first-home buyers and investors accounting for a significant portion of the sales. Earlier this year, Quartz released its final apartments to the market, creating a significant increase in enquiries as the building begins to take on a more prominent position in the local skyline.&nbsp;

ALAND, who recently celebrated 20 years in operation, is on track to deliver hundreds of new homes after topping out two of its most significant residential projects in Sydney’s western suburbs

ALAND on track to deliver 650 homes to Sydney in 2023

Around a decade ago there were some early signs the buoyant overseas property investor market was starting to cool.

That prompted Tim Campbell, former Lendlease development director, and Stuart Kacir, a former Lendlease development manager, to team up and create their own development firm, with the sole focus to create beautiful and functional apartments for the local owner-occupier.

Since founding the company in 2016, Carpe have delivered over $100m of completed residences across multiple high-quality, architecturally significant and boutique developments in some of Melbourne's best suburbs. Testament to their founding vision they have only sold one residence to an investor

"We wanted to pivot away from the high density towers Lendlease is known for and create something which catered for a completely different market," Campbell and Kacir told me in a recent interview with Urban.

"We started specifically targeting local downsizers with higher end apartments, a type of product that wasn't familiar with the more traditional, blue-chip suburbs across Melbourne."

Their first project was back in 2017, when they built nine townhomes in Brighton East.

Now, without admitting it, they have a bit of a following. That's been showcased in their most recent apartment development, The Walton in Kew, which is competing with a number of similar off the plan projects in the area targeting downsizers.

They've only been on the market for a few months and they've already sold over 50 per cent off the plan.

[smartcode_project:default project_id=135736 project_image_fid=208613]

Construction is set to kick off on the Walpole Street site in June, after the team achieved construction funding from Australian Unity.

While over the years they've have seen personalisation of apartments, Campbell and Kacir said they've never seen so much customisation than they have in The Walton.

"It's not a case that buyers want to change the product," Campbell says, adding that they just want some features in particular upgraded.

"Some buyers have opted to remove a bedroom and turn a three-bedroom apartment into a two-bedroom to provide a second living space, but most asking for bespoke joinery, fireplaces, custom appliances, underfloor heating and even spa to the top floor terrace.”

“Given the market we are in, our main demographic tends to be couples who are downsizing from their family home of two or three decades, and there's some things they have always had, and want to continue to have.”

[smartcode_project:default project_id=135736 project_image_fid=208617]

Electric car charging infrastructure in basements has been a popular addition for buyers in The Walton.

"They openly admit that they have no intention of owning an electric car, nor do they think they'll ever own one in their lifetime," Campbell says.

"They're just future proofing the apartment for generations to come, while also charging motorized golf carts."

Campbell and Kacir said Melbourne councils are now finally starting to require the inclusion of electric car charging as standard in new apartment developments. Coming with it will come a change in design mandate in basement garaging. Fire safety protocols will mean developers will likely have to create two points of entry and exit to a basement garage, given the heightened risk of fire associated with batteries.

[smartcode_project:default project_id=135736 project_image_fid=208615]

Carpe are a very much design-focused developer, which is evident across the portfolio of under construction and completed projects.

"A lot of the job of developing is compliance and number crunching," Kacir says.

"When it comes to the architecture, that's something you can really get excited about, and ultimately it's how we see the finished product, so we like to make sure the architecture is something we can look back at and be proud of."

The team that created The Walton, Warren &amp; Mahoney and John Patrick Landscape Architects, created Carpe's under construction Eaglemont project, Eaglemont Residences, which only has two apartments remaining.

[smartcode_project:default project_id=109113 project_image_fid=191204]

A bonus of the market Carpe develop in was that the nature of the business meant they navigated COVID relatively unscathed. Of course build costs have gone up, but ultimately their target market, downsizers, saw the price of their homes skyrocket, some areas jumping over 40 per cent in around 18 months.

Sales continued through the lockdown period, as did construction, and now Carpe is in a position to take advantage of the lack of demand for development sites.

They have recently secured new development sites in Sandringham, Hampton, and another in Boroondara.&nbsp;

"We look at the long term for our buyers when we're securing a site," Kacir says.

" Our niche is boutique projects in sought-after suburbs. When we find the right site, we know the apartments we build there will be in high demand, because they'll be something rare, something you can't often find anywhere else in the suburb."

The three new projects will bring around 75 apartments and approximately $190 million end value to Carpe's pipeline, with another few sites also currently in the crosshairs

Since founding the company in 2016, Carpe have delivered over $100m of completed residences across multiple high-quality, architecturally significant and boutique developments in some of Melbourne's best suburbs

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