<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

[smartcode_project:default project_id=140747 project_image_fid=367540]

The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

[smartcode_project:default project_id=140747 project_image_fid=367529]

Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

[smartcode_project_cta:default project_id=140747]

Joel Robinson

Smith by Valli delivers a refined collection of luxury residences to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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A 3 hectare industrial site in Lane Cove, 13 kilometres north-west of Sydney’s CBD has hit the market. 
Situated on the shores of the Lane Cove River, the property at 170 Epping Road has been a functioning corn mill for 125 years.
Cushman &amp; Wakefield’s Paul Fernandes and Orlando Maciel have been appointed to sell 170 Epping Road via an expressions of interest campaign closing November 7.
The corn milling operations commenced in 1894 under the Chicago Starch Mills banner.
Over the course of 125 years, it have been operated by Starch Australasia, Clifford Love &amp; Co, Goodman Fielder and currently, Ingredion, an ingredient provider who continues to operate the site to this day.
The site comprises of about 30,000 square metres which includes seven industrial warehouses offering 4,500 square metres of storage, distribution and undercover loading.
Located opposite the Northern entrance to the Lane Cove Tunnel and the beginning of the M2 motorway, the property is just 1.3 kilometres from the Metro Line rail stop at North Ryde.
Surrounded by parkland, the property also features about 350 metres of uninterrupted frontage to the Lane Cove River, with Magdala park directly opposite.
Subject to the necessary approvals, the site holds the potential for a change in permissible use or rezoning.
This would follow the former Shell/McDonalds site at 150 Epping Road, which was redeveloped into a residential complex and completed in late 2016.
Ingredion will maintain its business in Australia following the sale at a new office and laboratory in Sydney.
Cushman &amp; Wakefield’s Paul Fernandes said: “170 Epping Road presents a rare opportunity for investors or developers to secure over 29,000 square metres fronting the Lane Cover River, with primary access to Sydney’s main arterial thoroughfares.
“We have already seen major residential developments in nearby locations that reaffirm, subject to planning approval, the potential to transform the large 170 Epping Road property into a business or mixed- use precinct in a unique location. This could add significant value to the site,” Fernandes added. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Lane Cove corn mill industrial site hits the market 

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GUEST OBSERVATION
In a country as dry as Australia, surely it is a no-brainer that we have in place a coordinated, national drought response that can be rolled out the same way that the Natural Disaster Relief and Recovery Arrangements are triggered when the country experiences cyclones, floods or bushfires.
Drought used to be part of these arrangements but, for good policy reasons, was removed in 1989.
Our last attempt at national drought policy
Once upon a time, Australia had a national drought policy. It was enacted in 1992 following a comprehensive review and report by an independent panel, the <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/work/6206176" target="_blank">National Drought Policy Review Task Force</a>, and detailed negotiations between Commonwealth and state ministers and their officials.
The policy included commitments by both state and Commonwealth governments to implement a coordinated and comprehensive package of programs covering drought preparation and response.
At the Commonwealth level, these measures were centred around:
<ul>
<li>
the controversial “exceptional circumstances” provisions of its revised <a href="https://onlinelibrary.wiley.com/doi/10.1111/j.1467-8500.2006.00483.x" target="_blank">Rural Adjustment Scheme</a>, which were aimed at supporting farm businesses by subsidising up to 100% of the interest paid on commercial loans.
</li>
<li>
a farm household support scheme that provided short-term income support to farmers and also offered grants for those who decided to leave the land.
</li>
<li>
farm management bonds, later known as <a href="https://www.ato.gov.au/Business/Primary-producers/In-detail/Farm-management-deposits-scheme/" target="_blank">farm management deposits</a>, that allowed farmers to set aside pre-tax income they could later draw on in times of need.
</li>
<li>
a drought relief payment (added to the policy in 1994) that provided income support for farmers in areas declared to be experiencing “exceptional circumstances” drought. By May 1995, <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/RP9596/96rp06" target="_blank">over 10,000 families</a> were accessing this payment every month.
</li>
</ul>
Flaws in the policy
As anyone familiar with these programs will know, the exceptional circumstances program was plagued by problems.
The first was the lack of clarity around defining when a drought moved from a “normal” situation that was expected to be managed by farmers, to an “exceptional” situation with which even the best manager could not be expected to cope.
The definition of an “exceptional circumstances” drought became the subject of ongoing debate, along with concerns that drought assistance was based on administrative boundaries, leading to inequities that became known as the <a href="https://books.google.com.au/books?id=EC_ubyzIecUC&amp;pg=PA59&amp;lpg=PA59&amp;dq=australia+drought+%22lines+on+maps%22+problem&amp;source=bl&amp;ots=Xt_qqiXXkc&amp;sig=ACfU3U3WoO17x1bFqBhucrPqvrQtiVGMYQ&amp;hl=en&amp;sa=X&amp;ved=2ahUKEwia3aeAno7lAhVpILcAHTEeCC0Q6AEwAHoECAgQAQ#v=onepage&amp;q=australia%20drought%20%22lines%20on%20maps%22%20problem&amp;f=false" target="_blank">“lines on maps” problem</a>.
The second issue was the amount of information farmers were required to provide in order to demonstrate eligibility for “exceptional circumstances” assistance. The process was considered onerous and time-consuming.
Amid these concerns, a comprehensive review of drought policy was conducted in 2008 by the <a href="https://www.pc.gov.au/inquiries/completed/drought/report" target="_blank">Productivity Commission</a>. This was accompanied by a <a href="http://www.bom.gov.au/climate/droughtec/ec-report.pdf" target="_blank">report</a> by the Bureau of Meteorology and CSIRO on the likely impact of climate change on the frequency and severity of droughts in Australia, and an independent report on the <a href="http://www.agriculture.gov.au/ag-farm-food/drought/drought-policy/history/dryness-report" target="_blank">social impact of drought</a>.
Following the review, the government decided to end the “exceptional circumstances” program in 2009. This effectively gutted the national drought policy.
Since then, there has been no further attempt at developing a comprehensive, predictable drought policy response from the federal or state governments. There have been intergovernmental <a href="http://www.agriculture.gov.au/ag-farm-food/drought/drought-policy/national-drought-agreement" target="_blank">National Drought Agreements</a>, but these have done little more than restate the principles underpinning the country’s drought policy since 1992.
In recent years, the Coalition government has appointed a drought envoy, Barnaby Joyce, and drought coordinator-general, Stephen Day, to study the impact of drought on farmers and recommend possible solutions, but we have <a href="https://www.theguardian.com/australia-news/2019/sep/23/labor-calls-for-release-of-drought-envoy-reports-barnaby-joyce-says-he-sent-via-text" target="_blank">yet to see what either has come up with</a>.
Providing meaningful, timely and predictable support
Much of the criticism levelled at the government’s response to the current drought relates to its ad hoc and knee-jerk nature. This reactive way of dealing with drought highlights the need to return to a more predictable approach. This would avoid <a href="https://www.news.com.au/technology/environment/disbelief-over-1-million-funding-as-moyne-shire-locals-deny-they-are-in-drought/news-story/d82ba5220872e2d291f898cbe70f3e6a" target="_blank">perceptions of pork barrelling</a> and provide certainty to farmers about what support is available and under what circumstances.
A new national drought policy needs to take several forms. First, it needs to support farmers to prepare for drought before it happens. This is one area where the current policy has been moderately successful.
As of August 2019, Australian farmers had set aside a total of <a href="http://www.agriculture.gov.au/ag-farm-food/drought/assistance/fmd/statistics" target="_blank">$5.809 billion in farm management deposits</a>. These deposits have encouraged farmers to manage financial risk by building up cash reserves in high-income years, which they could then use during times of drought.
Individual farmers can currently hold a total of $800,000 in deposits. One possible improvement is to raise the ceiling on annual deposits in the years following drought recovery to allow a rapid rebuilding of cash reserves.
Second, a strong drought policy needs to provide support to all farmers during drought, not just those who have accumulated sufficient deposits to help them ride out the lean years.
In recent years, many farmers have taken advantage of long-term, low-interest loans to help during drought, and some have called for <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/rural/2019-10-07/farms-push-for-interest-free-drought-loans/11574552" target="_blank">zero-interest loans</a> to be made available, as well. But loans are not an ideal solution, as repayments are generally required even when farm incomes remain low.
An alternative to low- or no-interest loans are <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/1467-8489.12213" target="_blank">income contingent loans</a>. Similar to the <a href="https://www.studyassist.gov.au/help-loans/hecs-help" target="_blank">HECS-HELP scheme in higher education</a>, these types of loans only require repayment when the borrower can afford to do so.
This would not only give farmers greater flexibility when it comes to repayment, it would also greatly reduce the extensive red tape that strangled the old “exceptional circumstances” scheme.
Third, we need a serious rethink of the way we provide income assistance to farmers in a broader sense. Providing income support to farmers who are asset-rich, for instance, raises questions about fairness when compared with poor people in cities who are struggling to get by on Newstart payments.
This imbalance has come into stark focus in recent weeks, particularly on social media, as government ministers have discussed the introduction of <a href="https://www.smh.com.au/national/nsw/dole-drug-tests-demonise-the-needy-20190906-p52okv" target="_blank">drug testing for Newstart recipients</a>, and in the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-09-09/farm-household-allowance-on-cashless-welfare-cards-no-problem/11492590" target="_blank">debate around the Indue card</a>.
There has been <a href="https://theconversation.com/farm-poverty-an-area-of-policy-aid-built-on-sands-of-ignorance-23756" target="_blank">no serious attempt in the past 45 years</a> to measure the extent of poverty among farmers. We can develop more appropriate and equitable income-support policies if we can better understand the genuine nature of their need.
The elephant in the room
While the government has assiduously avoided making the link, an effective national drought policy also cannot be divorced from discussions about climate change.
The 2008 Productivity Commission report was pretty clear in its conclusions about the impact of climate change on drought in Australia. A growing number of farmers are now <a href="http://farminstitute.org.au/publications/research_report/change-in-the-air" target="_blank">acknowledging this reality</a>. Denying the need for serious consideration of climate change is not doing our agricultural producers any favours.
Developing an effective national drought policy is hard work. But in another sense, it should also be easy. This is because, unlike many other areas of government policy, it can be bipartisan.
Although the National Party has historically been aligned with rural voters, all parties are broadly sympathetic to farmers and value their contributions to the economy and, importantly, our national identity. The public also generally <a href="https://csrm.cass.anu.edu.au/research/publications/parched-rural-australia-thirsty-solutions" target="_blank">regards farmers positively</a> and is responsive to their plight when they are faced with hardship.
As such, this should be one area where our politicians can come together to develop a coherent national response — one that is known in advance, forward-looking, equitable with other income-assistance programs in the community, and provides meaningful support before, during and after drought.<img src="https://counter.theconversation.com/content/124775/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Linda Botterill, Professor in Australian Politics, University of Canberra.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/a-national-drought-policy-should-be-an-easy-bipartisan-fix-so-why-has-it-taken-so-long-to-enact-a-new-one-124775" target="_blank">original article</a>.
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A national drought policy should be an easy, bipartisan fix. So why has it taken so long to enact a new one?

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The Lowy family has sold its $815 million stake in Australian shopping centre owner Scentre Group ending its association with the Australian retail sector that began in 1959.
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The move cuts the family’s ties with the 60 year old shopping centre company that grew from a single centre that opened in Blacktown in western Sydney.
Sir Frank Lowy has been in Sydney overseeing the sell down through investment bank UBS.
The Australian newspaper reported its sent a chill through the listed real estate investment trust sector.
The stake comprised 3.9 per cent of the company’s stock, with 206.1 million shares divested to institutions in what marked the largest ever REIT block trade in Australian history.
The sale at $3.956 was at a small discount to the closing price of $4.01.
Sir Frank, who was born in 1930, was knighted in 2017 and ranked as Australia’s 6th richest person on this year’s The List with a fortune of $8.92bn.
He co-founded the Westfield empire with John Saunders.
The offshore component sold to French group Unibail-Rodamco in a $32bn deal finalised last year.
Scentre was created in June 2014 when the Westfield Group separated its American and European businesses.
The sale also positions the Lowy Family Group for the next phase of investing and it is already backing a new property fund in Australia looking for opportunistic plays, with the aid of former Westfield executive Michael Gutman and the Alceon operation.
The group has launched a series of ventures in fields ranging from health, cybersecurity and theatre, confirming Sir Frank’s entrepreneurial streak.
The Lowy exit marks the end of an era and signals new challenges for the retail sector.
Department stores Myer and David Jones are ailing but the departing Mr Miles pointed to the surge in luxury retailers and predicted more would come into Australia.
He warned that not all shopping centres would come through the industry’s challenges but the local Westfield empire had been dramatically reshaped by asset sales in recent years and efforts to integrate with e-commerce.
</div>
 
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Chill for REITs as Lowy family sell $815 million Scentre Group stake

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GUEST OBSERVATION
You may mock the national anthem by singing “Our land abounds in nature strips” but what you might not know is how true that is.
In Melbourne, for example, <a href="https://www.sciencedirect.com/science/article/pii/S1618866719300718" target="_blank">more than a third of all public green space is nature strips</a>. (That figure includes roundabouts, medians and other green bits of the street.)
That’s a remarkable amount. The nature strip is everywhere. A million small patches combine into a giant park spanning the city, making it a significant player in our urban ecosystems.
A second remarkable thing is that the nature strip is <a href="https://apo.org.au/sites/default/files/resource-files/2007/11/apo-nid60258-1105966.pdf" target="_blank">public land that private citizens are required by law to maintain</a>. Councils manage the trees, but we residents mow the lawn.
What are the rules on nature strips?
<a href="https://images.theconversation.com/files/296146/original/file-20191009-3872-1i673y4.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/296146/original/file-20191009-3872-1i673y4.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Succulents, Agapanthus and Gazanias are the most common plantings on nature strips. Adrian Marshall CC BY 4.0, Author provided
Many residents go further and plant a street tree or some garden plants – succulents, Agapanthus and Gazanias are the most common. But the chances are that, whatever the garden on the nature strip, it’s against the rules.
The rules on nature strips vary from council to council. Some councils don’t allow any plantings. Others restrict plantings by height or allow only plants indigenous to the local area. In some areas, nature strips can only be planted to prevent erosion on steep slopes.
Some councils disallow food plants, for fear of historic lead contamination from leaded petrol. Others insist on no plants within a metre of the kerb and two metres of the footpath.
These bylaws are inconsistent and illogical. For instance, councils that insist on indigenous species nevertheless plant exotic street trees. Councils that say plants must be less than 30cm high to ensure they don’t block drivers’ sight lines still allow vehicles to park on the street, blocking sight lines.
Bylaws deny us many benefits
To have council bylaws restrict or disallow gardening in the nature strip flies in the face of common sense. Street greenery, whether it's trees, shrubs or lawn, provides many benefits. The science is in on this.
Urban wildlife uses street greenery for habitat and food and as green corridors for movement.
Even for those who mow, the lawns of nature strips are not just turf grass. They are home to over 150 species of plants, based on my yet-to-be-published survey data for nearly 50 neighbourhoods, confirming <a href="https://link.springer.com/article/10.1007/s11252-009-0098-7" target="_blank">earlier studies</a>. Many of these, like the clovers, provide important resources for pollinators.
One <a href="https://www.propertyobserver.com.au/https://www.nrs.fs.fed.us/pubs/55816" target="_blank">US study</a> showed that changing from a weekly mow to every three weeks increased the number of flowers in a lawn by 250%. Less mowing is good news for bees and butterflies.
An unpublished recent survey by the author and colleagues found gardening in the nature strip adds native plants to the streetscape, increases biodiversity and add structural complexity (more layers of plants, more types of stuff), which is important for many species.
<a href="https://images.theconversation.com/files/296397/original/file-20191010-188823-3m94cd.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/296397/original/file-20191010-188823-3m94cd.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The greater the diversity of plantings, the greater the benefits a nature strip can provide. <a href="https://www.flickr.com/photos/tedxmelbourne/9642464172/in/photolist-hj8dyc-skaU1u-dREut-eJsU1F-ffLmZK-indYV3-cLiW2J-vB2sc-7NsaK4-4VkF3d-yGjbRF-beH7sn-6Y5uUZ-rxC4mN-6LgaCq-8uZkP8-fFMrYB-fFMzz6-959BCc-fFMqN6-9XyM3R-8uZkQZ-fG59Eh-fG55kj-MdakbU-zKkV6-9A3mjp-2hgzR2Y-2gLLfma-2gLM1dK-2gjDcaq-fG56q1-V4CxJS-2EepMw-AJYA3h-8PLEFM-2Nnv4q-3HCckP-8LfDb6-F9XHNG-fG5dib-9hzViT-d5L2G-fG57A5-7tQdTT-vh8B5S-2d9eEDd-2gtBYEp-fFMxhv-6tVDoj" target="_blank">TEDxMelbourne/Flickr</a>, <a href="http://creativecommons.org/licenses/by-nc-nd/4.0/" target="_blank">CC BY-NC-ND</a>
<a href="https://www.propertyobserver.com.au/https://pubag.nal.usda.gov/catalog/1135097" target="_blank">Street greenery helps</a> water <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/27094440" target="_blank">soak into the ground</a>, filtering out pollutants, recharging aquifers and making rivers healthier. It <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/26828172" target="_blank">cools streets</a> and <a href="https://www.sciencedirect.com/science/article/pii/S0169204614002503" target="_blank">helps counter the urban heat island effect</a>. It also <a href="https://www.sciencedirect.com/science/article/abs/pii/S0277953613003742" target="_blank">promotes a sense of community</a>, <a href="https://www.sciencedirect.com/science/article/pii/S2214140518303281" target="_blank">encourages walking</a> and lowers the incidence of <a href="https://www.sciencedirect.com/science/article/pii/S2214140518303281" target="_blank">heart disease</a>, <a href="https://www.propertyobserver.com.au/https://jamanetwork.com/journals/jama/fullarticle/2524191" target="_blank">diabetes</a>, <a href="https://theconversation.com/children-living-in-green-neighbourhoods-are-less-likely-to-develop-asthma-96190" target="_blank">asthma</a> and <a href="https://www.sciencedirect.com/science/article/pii/S0169204614002941" target="_blank">depression</a>.
But councils tend to be risk-averse. They worry they will be sued if someone trips on groundcover or stubs their toe on an out-of-place garden gnome.
Fortunately, this risk aversion isn’t universal. For instance, the <a href="https://www.vincent.wa.gov.au/residents/environment/environmental-sustainability/news-events/adopt-a-verge.aspx" target="_blank">City of Vincent</a> in Western Australia is so keen for residents to convert lawn to waterwise plantings that it will remove turf and provide native plants.
But, as climate change looms, stubbed toes are not the main risk we should be worrying about. Rather, we must urgently remake our cities and our culture for sustainability and resilience.
Gardening becomes a neighbourly act
One of the great things about gardening in the nature strip is that people are <a href="https://www.sciencedirect.com/science/article/pii/S1618866719302535" target="_blank">more likely to do it if their neighbours do it</a>. It’s contagious, a positive-feedback loop creating a greener street.
Our recent survey found residents who garden in the nature strip have a greater <a href="http://www.communityscience.com/news-detail.php?news=114" target="_blank">sense of community</a> than those who don’t.
<a href="https://images.theconversation.com/files/296997/original/file-20191015-98653-wopjbq.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/296997/original/file-20191015-98653-wopjbq.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
A well-designed street garden, fully covering the nature strip, allowing pedestrian access to cars and using indigenous plants. Adrian Marshall CC BY 4.0, Author provided
Interestingly, the benefits nature strips provide are <a href="https://www.sciencedirect.com/science/article/pii/S1618866719302535" target="_blank">not equally distributed across the city</a>. For instance, newer neighbourhoods have more nature strip than older neighbourhoods (though their trees are younger). People garden the nature strip more on minor roads than major roads, and in more socially advantaged neighbourhoods.
Almost a <a href="https://www.sciencedirect.com/science/article/pii/S1618866719302535" target="_blank">quarter of residential properties</a> in Melbourne have some sort of nature strip gardening. If councils were to encourage this activity we might achieve more street greening with little cost to our cash-strapped councils. Such encouragement would also free many residents of their sense of frustration at being required to maintain the nature strip but forbidden to do anything more than mow.
Given that more than a third of our public green space is nature strip, the many small actions of residents can add up to substantial positive change.<img src="https://counter.theconversation.com/content/124781/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
Adrian Marshall, Lecturer, Landscape Architecture and Urban Ecology, University of Melbourne.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/our-land-abounds-in-nature-strips-surely-we-can-do-more-than-mow-a-third-of-urban-green-space-124781" target="_blank">original article</a>.
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Our land abounds in nature strips – surely we can do more than mow a third of urban green space

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A private owner-occupier in the medical field has snapped up the last remaining shed in Brisbane’s Newstead for $1.85 million. 
The property at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMtZbL8K1IrWjVUh45Aq1JPvZgRKLiO1yIdaTuGmyPY7RBzTjk87oMXyuFthyeL5QE+aqhgjQE5jCW/UMDpH6K1kp9xiqB1tH5vf6Yy2FK6kgVV4Ao2s9tObdzBgF59LHXpoFNEmZjwI4&amp;rh=ff0053388189a25f403cdaa3354dadf337507e34" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">10 Masters Street</a> comes with a 460sqm site area and 310sqm building area, comprised an existing warehouse facility.    It also comes with a development approval for a residential tower.
The property was sold by Ray White Commercial Qld agents Aaron Aleckson and Paul Anderson.   Mr Aleckson said the expressions of interest campaign generated more than 100 enquiries and multiple offers.   “When the site was initially taken to market in late 2018, there was a large amount of enquiry from developers and owner-occupiers looking to capitalize on the value-add opportunity of the last remaining shed in Newstead,” he said. 
“The sale is the second in the last year for us on Masters Street, having sold number 15 last year for $1,450,000, and we've seen the streets that link Commercial Road to Gasworks as the most hotly contested precinct in the City Fringe.”   Mr Anderson said the team had already sold the site to the current owners back in 2016 for $1,600,000 plus GST.   The current sale represents 14 per cent growth in three years.    The site's mixed-use zoning provided a diversified exit strategy for the owners. 
Whilst there's an apartment DA in place, the buyer will be using the existing improvements for a medical use.  
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Last remaining shed in Newstead's medical field sells for $1.85 million

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Hitting the market for the first time the retail lots in the former Legion Cab headquarters in Surry Hills are being offered in one line by expressions of interest.
With over 50 meters of frontage to Foveaux Street, this mix of high profile and national tenancies is set fetch over $15 million.  
Miron Solomons, Matthew Meynell, Matt Pontey and Nick Lumley of Colliers International are marketing the retail investment.
It spans over 1,000 square metres and sits less than 300 metres from Central Station.   
All shops in this development have been leased to international and national tenants including Sushi Train, Zeus Street Greek, The Bunker gym and high-end culinary school SBTA.
Net rental income across the four tenancies is about $659,300.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/15/LC%202-2.jpg" alt="">
“This is the first time that we’ve seen brand new prime retail of this calibre offered in Surry Hills. Assets with four quality tenants, strong covenant and full amenities including parking and loading are extremely hard to find in Sydney’s CBD Fringe markets,” said Miron Solomons, National Director, Investment Services at Colliers International.
“The ground floor retail captures 50 metres of frontage along Foveaux Street, perfectly positioned to take advantage to the huge amount of government investment and infrastructure being poured into the area.”
Nick Lumley, Executive, Investment Services at Colliers International said, “Sydney’s fringe retail markets are benefiting from close to $2 billion in infrastructure investment and increased demand from the rises in tourists, office workers, urban residents and international students.”
Expressions of Interest for the ground floor 81 Foveaux Street close November 13.
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Former Surry Hills Legion Cab HQ trophy retail investment listed 

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EXPERT OBSERVER
There are two very important aspects to the minutes of the October meeting of the Reserve Bank Board.
The first one relates to the conclusion to the minutes, “the Board would continue to monitor developments, including in the labour market, and was prepared to ease monetary policy further, if needed…”
This language is consistent with the July minutes following the cut at that meeting, “The Board would continue to monitor developments  in the labour market and adjust monetary policy if needed …”.
There was no move in August but this conclusion left the door open.
This compares with the August minutes, where the minutes concluded: “Having eased monetary policy at the previous two meetings, the Board judged it appropriate to assess developments in the global and domestic economies before considering further change to the setting of monetary policy. Members would consider a further easing of monetary policy if the accumulation of additional evidence suggested this was needed to support sustainable growth in the economy and the achievement of the inflation target over time.”
This indicated a clear message that rates would be on hold in September.
However,  consider the September minutes: “Members would assess developments in both the international and domestic economies, including labour market conditions, and would ease monetary policy further if needed…”
This clearly left the door open for a move in October which subsequently eventuated.
We were expecting the conclusion to the October minutes to look like the August conclusion, which would have indicated that the Board intended to pause in November as they gathered more information. That conclusion  was not used, and the conclusion looked like July.
The conclusion in October, “was prepared to ease”, is not as strong as the September conclusion “would ease”. It is  like the July conclusion, no strong commitment and allowing some flexibility.
However, it is surprising that the Board did not choose to close off the option of another move so soon after October.
The second important aspect of these minutes is a very detailed justification of the decision to cut in October and a general argument as to why lower rates still work in Australia. Firstly, the Board noted that it was the level of rates rather than the change that was the important determinant. Holding back rate cuts in anticipation of a negative shock was not the best policy. Instead, it is better to cut ; strengthen the economy immediately if deemed necessary so that the economy would be better placed to absorb a negative shock.
The Board also discussed whether  low interest rates might impact confidence. That was left as an open question, it still saw the transmission through the exchange rate channel working effectively and noted the positive effects of lower interest rates on aggregate household cash flows.( confidence issue is whether households decide to spend the improved cash flow.)
Finally, it noted that asset prices were part of the transmission mechanism of policy, including via encouraging home building. At this stage, it assessed that higher asset prices were unlikely to present a risk to financial stability and members saw only a limited risk of excess borrowing.
There is no doubt that this discussion can be seen as a justification of the decision that was made in October. As we have noted before, central banks will always provide robust arguments to support their decisions. However, these arguments seem to go beyond merely justifying the decision in October and laying the foundation for even lower rates.
There is no discussion at this point as to whether an effective lower bound exists for the cash rate. We do not think we should interpret this discussion as contemplating negative rates or even zero rates.
The commentary on the domestic economy further lowers the RBA’s assessment of the strength of the economy. This could be expected given the decision to cut rates.
In particular, the residential construction downturn was now expected to continue for some time, “the decline in dwelling investment for the June quarter was greater than had been expected a few months earlier”, and “the Bank’s liaison program continued to report weak pre-sales for higher density developments”. Members also noted that conditions in retailing are reported to have been very weak, and there had not been a pick- up in household spending following the tax cuts and cash rate reductions. Employment growth was likely to moderate over the subsequent few quarters.
On the positive side strong exports growth; and public demand was noted, while strong employment growth had boosted growth in labour income.
Unusually, the minutes did not confirm the current forecast that GDP growth in 2020 would be around trend. This might imply that the Bank is preparing to lower its GDP forecast for 2020 when it releases the revised forecasts on November 8.
Conclusion
We were surprised that the Board did not indicate more clearly that it was planning to take some time, given the decision in October, to assess the timing of the next cut. That indication would have been consistent with the wording used in August.
However, the language that is used is similar to July , following the cut at that meeting and, of course, there was no follow up move in August. 
The Board is clearly leaving itself the flexibility to move in November but we believe the hurdle is high and while the minutes leave us with little doubt that another cut is expected we are holding to the view we adopted in July that the next moves would be in October and February.
BILL EVANS is the Chief Economist for Westpac
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bevans-rYk9SxEa4r

The RBA minutes make a strong case for lower rates: Bill Evans

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GUEST OBSERVATION
Two seemingly unrelated but important things happened in Melbourne last week. One was a memorial service for David Yencken AO; the other was the exhibition opening of the Future Park Design Ideas Competition. The connection between the two is that both gave us radical ideas for Melbourne’s open space.
David Yencken was a visionary man who had a profound impact on Victoria and Melbourne. He was responsible, among many things, for the transformation of <a href="https://www.travelvictoria.com.au/southbank/" target="_blank">Southbank</a> and co-founding <a href="https://pursuit.unimelb.edu.au/articles/merchant-builders-celebrating-a-fifty-year-legacy" target="_blank">Merchant Builders</a>. But one of his wildest ideas was the 1985 <a href="https://www.killyourdarlings.com.au/2016/09/imagine-a-city-swanston-st-party/" target="_blank">Greening of Swanston Street</a>, when vehicle traffic was closed and a weekend street party was held right in the middle of Melbourne.
As the secretary (chief executive) of the Ministry for Planning and Environment, Yencken had been charged with changing perceptions of the city by rethinking its public spaces. At a time before <a href="https://theconversation.com/a-day-for-turning-parking-spaces-into-pop-up-parks-65164" target="_blank">pop-up parks</a> and <a href="https://theconversation.com/look-out-behind-the-bus-stop-here-come-guerrilla-gardeners-digging-up-an-urban-revolution-29225" target="_blank">guerrilla gardening</a>, his radical idea demonstrated what was possible for the inner city and sowed the seed of the <a href="https://www.mup.com.au/blog/melbourne-urban-transformation" target="_blank">idea of closing Swanston Street to traffic</a>.
The project was <a href="https://www.smh.com.au/national/the-man-who-helped-re-imagine-melbourne-20190705-p524mc" target="_blank">not without controversy</a> – it was costly and came in for political criticism as a stunt. But looking back to a time when inner Melbourne was underutilised and dominated by traffic, we can see how that radical idea sparked the imagination about what was possible for the city centre.
<a href="https://images.theconversation.com/files/207418/original/file-20180222-132674-1247hnf.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/207418/original/file-20180222-132674-1247hnf.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The Greening of Swanston Street in 1985. Victorian Ministry of Planning
Future Park fires imaginations and debate
This is just what the <a href="https://msd.unimelb.edu.au/be150/competitions/futurepark" target="_blank">Future Park competition</a> needs to achieve. The open competition held by the University of Melbourne and the Australian Institute of Landscape Architects has attracted global interest, with 123 entries from 20 countries.
The brief was simple but provocative. Designers were to find space within 10 kilometres of the city centre and design a future park that responds to the challenges of Melbourne today. The design responses from the 31 shortlisted entries ranged from manufactured lagoons to urban wildlife corridors and street transformation parks that Yencken would be proud of.
<a href="https://images.theconversation.com/files/296120/original/file-20191009-3935-24915r.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/296120/original/file-20191009-3935-24915r.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Melbourne from Past to Last, a vision of a city street park. Future Park Design Ideas Competition, Author provided
The first wave of media coverage on the competition inspired a range of public comments about Melbourne’s open space. For example, from the <a href="https://www.theage.com.au/national/victoria/visions-of-utopia-lagoons-floating-pods-among-future-park-entries-20190929-p52vzc" target="_blank">online comments in The Age</a>:
"Royal Park is a massive area of underutilised space. Driving down Elliott Av it’s just an open wasteland. Grassland and scattered gum trees does not make a welcoming “park”.
"How about bulldozing the eyesore known as Federation Square and putting a park in its place?
"These designs forget to include the things that make it a Melbourne park, graffiti, vandalism, weeds and the homeless.
"Architects and landscapers rarely, if ever, have a grasp on what will work for people … they are too busy trying to be creative, and not busy enough trying to make people happy."
What the public comments show us is that there is no single or obvious solution to our parks and public spaces. Some people like it busy, some people like the quiet. Some want European trees and others desire native plantings. It’s complicated, and each of these opinions make valid points.
Just like Yencken’s Greening of Swanston, there will always be debate about what makes good public space. And that is exactly why we need more radical ideas – some might call them “crazy” – for our cities.
We know the future of our cities will be complicated. Like it or not, there will be more people, a changing climate and increasing pressure on infrastructure and services.
Wicked problems call for radical thinking
These messy issues are often described as <a href="https://theconversation.com/too-many-wicked-problems-how-science-policy-and-politics-can-work-together-8990" target="_blank">wicked problems</a>. Popular in public policy and management, the term is used to explain problems with debatable cause and effect. Critically, the lack of agreement about wicked problems produces conflicting goals towards resolution.
Obviously, we need science, governance and planning, but finding solutions to wicked problems will also require creativity and collaboration. We need debate and we need ideas that can expand our imagination about what our cities can be. This is why it is so important that the competition entries for the Future Park explore new and outrageous possibilities.
Ideas throughout the shortlisted entries include plans for a new NBN: the National Biodiversity Network, which creates ecological corridors across the country. Others propose transforming schools into parkland; parks designed for bees; designs that return darkness to our urban landscapes; and sculpting new islands as rising sea levels engulf our coastline.
<a href="https://images.theconversation.com/files/296122/original/file-20191009-3910-wjyu19.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/296122/original/file-20191009-3910-wjyu19.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Multi-deck parks: as cities grow and space becomes ever more precious, urban parks replace car parks. Future Park Design Ideas Competition, Author provided
As design solutions, these ideas reflect the challenges of our world today. While many of these schemes are technically, socially or economically unfeasible, they remind us of the power of thinking outside of the box. Importantly, the competition format puts all of these ideas together in one place for us to think about and discuss.
In Australia, we have a <a href="https://theconversation.com/architecture-competitions-are-risky-but-we-can-build-on-that-29476" target="_blank">limited culture of “open design competitions”</a> for either built projects or speculative solutions. But design competitions provide opportunities for new voices and discovering unexpected solutions within these wild ideas.
Radical ideas are important and so is having the freedom to voice them. Especially as a way of expanding the discussions we need to have about the challenging future.
The Future Park competition winners will be announced on Friday, October 11, at the <a href="https://www.aila.org.au/imis_prod/TSATP/Home/TSATP/Default.aspx?hkey=39717070-b978-492a-b2d6-c59aab8cd866" target="_blank">2019 International Festival of Landscape Architecture</a> in Melbourne. The <a href="https://msd.unimelb.edu.au/be150/events/the-future-park-design-ideas-competition-the-square-and-the-park-exhibition" target="_blank">Future Park exhibition</a> is at Dulux Gallery, Melbourne School of Design, University of Melbourne, from October 4 to November 1.<img src="https://counter.theconversation.com/content/124772/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
Wendy Walls, Lecturer in Landscape Architecture, University of Melbourne.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-we-need-crazy-ideas-for-new-city-parks-124772" target="_blank">original article</a>.
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Why we need ‘crazy’ ideas for new city parks: Wendy Walls

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Noosa-based Altum Property Group has exchanged contracts to acquire the leasehold for Great Keppel Island from Terry Agnew's Tower Holdings.
It is subject to approval from the Queensland government.
The real estate developer made the move after a previous $50 million sale, to Wei Chao Pty Ltd in October last year, did not proceed to settlement.
It is understood the new buyers have negotiated an extended settlement period.
The island, which lies 12 kilometres from coast of Yeppoon, has approval for a $400 million major development including a hotel, eco-tourism villas, apartments, a marina, and a ferry terminal.
The previous decaying resort on the island was demolished last year.
The Queensland government has reportedly committed $30 million for common-user power and water infrastructure connections to Great Keppel Island, in the interest of boosting tourism.
Altum's group has no track-record of delivering tourism projects.
During the 1990s, Great Keppel was a famed party destination known by the slogan "Get Wrecked on Keppel".
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Great Keppel Island set to be sold again

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EXPERT OBSERVER
It's all happening in Brisbane CBD... there's not too much downing of tools or time for smoko around here at the moment!
So while residential construction is now slowing towards multi-year lows, there's plenty happening in the commercial and infrastructure space.
One of the major broadsheets reported this week on its front page that traffic controllers on the Queen's Wharf project are set to earn more than $194,000 per annum, including 10 hours per week of paid overtime.
Meanwhile, including overtime carpenters are expected to earn around $240,000 per year for a 46-hour week.
All of which will feed itself back into Brisbane's economy over the next few years.
We looked at some of the major projects and what they might mean for Brisbane at our buyer's agency website <a href="http://allenwargent.com.au/why-you-wont-recognise-brisbane-5-years-from-now-3-minute-video/" target="_blank">here</a>. 
<img src="https://1.bp.blogspot.com/-KtQy-K-vC5c/XaPSuPvLbHI/AAAAAAAAyQE/_x0BT6JdDHMFnjRj2rciTcjtK8Svzv69gCNcBGAsYHQ/s640/QW.jpg" width="640" height="320" data-original-height="800" data-original-width="1600">
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>. 
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