The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Apartments

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The Celtic Club's development is poised to proceed under the moniker Paragon, as developer Beulah International moves to capitalise upon the development permit granted under previous planning regulations.

At 316-320 Queen Street, the site's development history has been far from mundane, with project approval but one of the hurdles involved in realising the residential tower. As far back as 2013, inner club wranglings had the deal to develop the site voted down by club members.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_20170410175201bvf143_bv.png" rel="gallery-all" title="A new skyline marker in the offing"><img alt="" class="image-article-full-width-580px" height="355" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/1_20170410175201bvf143_bv.png?itok=rmU7GoAU" title="A new skyline marker in the offing" width="580"></a>

<figcaption>A new skyline marker in the offing</figcaption></figure>Having eventually purchased the site last year after playing a patient game which involved a number of members votes on the fate of the club, Beulah International $25.6 million investment in the corner site will pay off with Paragon. The site's permit extension granted by Minister Wynne is due to expire in October, meaning Beulah International will likely move to launch the 48-level apartment tower shortly.

Spread across a 3,000sqm site, much of the Celtic Club will make way for the tower which was approved to include 256 apartments, although this number will almost certainly change as the developer rebalances the project's apartment schedule to meet current market conditions.

Peddle Thorp Architects were behind the initially approved version which was characterised by its green facade. Now understood to be in the hands of Fender Katsalidfis Architects, the tower's exterior has been given a more pronounced look, featuring a stretched diagrid pattern over a golden facade.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image89_0.jpg" rel="gallery-all" title="Celtic Club's initial and revised versions side by side"><img alt="" class="image-article-full-width-580px" height="388" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image89_0.jpg?itok=OEFRnjeX" title="Celtic Club's initial and revised versions side by side" width="580"></a>

<figcaption>Celtic Club's initial and revised versions side by side</figcaption></figure>The emergence of Paragon follows on from Beulah International's purchase of its fifth Melbourne development site, a 2,000sqm South Melbourne plot with DKO Architecture given licence to create 27 luxury townhouses. The South Melbourne project is located on the corner of Boundary and Thistlethwaite Streets, with four level townhouses the expected outcome.

Beulah International first Melbourne project dubbed Gardenhill atop Doncaster Hill was completed at the turn of the year, whilst their Hallmark Ivanhoe apartment project also designed by Fender Katsalidis accounted for 80% of its apartments after two weeks at sales.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image88_5.jpg" rel="gallery-all" title="Hallmark Ivanhoe"><img alt="" class="image-article-full-width-580px" height="233" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image88_5.jpg?itok=rU_ODFPE" title="Hallmark Ivanhoe" width="580"></a>

<figcaption>Hallmark Ivanhoe</figcaption></figure>
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silvermb

Paragon caps Beulah International's healthy Melbourne development portfolio

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One of Melbourne's largest developments in waiting has been given a boost with Malaysia's Employees' Provident Fund (EPF) officially taking a 49% stake in Melbourne Square.

The largest sovereign pension fund in Malaysia and the investors behind London's Battersea Power Station redevelopment have taken the stake as developer OSK Property ramps up sales for the project. EPF's stake in the Kavanagh Street, Southbank amounts to $154 million. 
With EPF on board, OSK Property can progress with the first phase of their initial Australian project which will deliver apartments, retail spaces, specialty stores and a childcare centre. A central sloping green park will also form part of the first stage, with updated renders showing a refined scheme accounting for the sprawling open-air car park.

Latter stages will also feature a hotel, commercial office tower and further apartments that aim to activate and regenerate the backstreets of Southbank. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/osk_property_melbourne_square_skyline_to_bay_0.jpg" rel="gallery-all" title="The first stage of Melbourne Square will feature two residential towers. Image: supplied"><img alt="" class="image-article-full-width-580px" height="288" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/osk_property_melbourne_square_skyline_to_bay_0.jpg?itok=ZsrBL5G8" title="The first stage of Melbourne Square will feature two residential towers. Image: supplied" width="580"></a>

<figcaption>The first stage of Melbourne Square will feature two residential towers. Image: supplied</figcaption></figure>Melbourne Square has been designed by Cox Architecture, with Carr Design providing their expertise for Stage 1 interiors and Taylor Cullity Lethlean chipping in for the extensive landscaped public space which accounts for almost 20% of the site. 

Stage one of the project comprises two glazed elliptical residential towers accommodating over 1000 apartments. The development team's confidence in Melbourne Square is evident with Multiplex being engaged to provide early contractor involvement.

<h2>WHAT THEY SAY</h2>

<blockquote>
The Melbourne property development befits EPF's long-term objectives and will be a good addition to our overseas portfolio. This is EPF's second development venture overseas after Battersea in London.

The increasing demand for residential property in Melbourne, Australia will enable EPF to generate returns for its members.
<cite>- EPF CEO Datuk Shahril Ridza Ridzuan</cite>
</blockquote>

<blockquote>
We believe that Melbourne Square will be an important project for the world's most liveable city, providing the delivery of much-needed critical community infrastructure including a public park and network of green spaces. Partnering with EPF is a key milestone in progressing this project that will become a central point for Melburnians.
<cite>- OSK Holdings CEO / Group Managing Director Tan Sri Ong Leong Huat</cite>
</blockquote>

 Melbourne Square is currently in a pre-sales phase with construction of Stage 1 set for this year.
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Laurence Dragomir

Malaysia's EFT weighs into the local market with a stake in Melbourne Square

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35 Spring Street has been anointed as one of Melbourne's elite high density residential projects. Developer Cbus Property is rightfully making note of the project's completion, with Planning Minister Richard Wynne recently officially opening the $350 million development.

The project has drawn inspiration from equivalent park-front projects in New York, and holds views over Treasury Gardens that can never be built out.

Inside are 241 one, two and three bedroom apartments and penthouses; down from the original 270 after buyer interest saw the amalgamation of various apartments; in some instances entire floors were merged to create enormous dwellings. 

<blockquote>
35 Spring Street is the first luxury apartment building to be completed in Melbourne in many years and proves there is a market and appetite for well-designed, generous apartment homes. It is a building designed to be ahead of its time, while remaining classic for decades to come.
<cite>Cbus Property CEO Adrian Pozzo </cite>
</blockquote>

The double skin wrap around the building’s exterior is arranged in an asymmetric ashlar pattern, allowing for oversized windows and expansive views. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image11_14.jpg" rel="gallery-all" title="The tower's foyer"><img alt="" class="image-article-full-width-580px" height="812" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image11_14.jpg?itok=ir1gUMh6" title="The tower's foyer" width="580"></a>

<figcaption>The tower's foyer</figcaption></figure>Bates Smart were responsible for both the overall design and interior finishes.

35 Spring Street's ground floor features a restaurant and grand residents’ lobby with the prevalent theme throughout the foyer that of a strong, rich and natural finish. Capping the space is an Inge King sculpture that was preserved from 35 Spring Street’s previous life as an office complex.

In addition to the lounge at ground level, the ninth floor also carries amenities by way of a private dining room and kitchen, wine storage area, pool, gymnasium, plus internal and outdoor entertaining areas. The amenities level also defines the beginning of 35 Spring Street's tower component.

As to the tower's design, Bates Smart provided Apartments.com.au with the following response.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image14_11.jpg" rel="gallery-all" title="35 Spring Street befits its location"><img alt="" class="image-article-full-width-580px" height="348" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image14_11.jpg?itok=md121xMz" title="35 Spring Street befits its location" width="580"></a>

<figcaption>35 Spring Street befits its location</figcaption></figure><blockquote>
The design stands out not only for its height, but its intricate facade and massing which draws parallels with Manhattan and is reminiscent of some of the towers which flank Central Park. 

The design of 35 Spring St was inspired by its premium park location and never to be built-out views which extend beyond the Treasury Gardens, but also the local precinct, such as the surrounding heritage government buildings and the vibrancy of Flinders Lane.

The façade draws references from the materiality of the surrounding buildings, with its vertical strands providing elegant proportions and a crispness of edge. The facade was also inspired by fabric patterns, and references the manufacturing legacy of Flinders Lane.

The building has an extraordinary position on the far eastern boundary of the Hoddle Grid, and aims to define the edge of the city. Like many of the buildings that surround Central Park in Manhattan, 35 Spring St, creates a strong line and edge between city and park.

It is a new landmark for Melbourne and creates a new gateway into the city. While, the design pays tribute to many of Manhattan’s most elite residential developments, the tower’s references to local precinct and high quality finishes, ultimately reflect Melbourne, making it a strong architectural statement for our city.
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image10_11.jpg" rel="gallery-all" title="Collins Place creates an external backdrop to the pool deck"><img alt="" class="image-article-full-width-580px" height="337" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image10_11.jpg?itok=6L9X2FZn" title="Collins Place creates an external backdrop to the pool deck" width="580"></a>

<figcaption>Collins Place creates an external backdrop to the pool deck</figcaption></figure>With 35 Spring Street now complete, Cbus Property are pursuing a string of additional developments around Melbourne. Of those, Collins Arch and Classic East Melbourne shape as developments which have also been positioned to attract the high-end owner occupier.
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35 Spring Street becomes one of Melbourne's premier apartment developments

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It was announced this morning that Golden Age Group will develop the residential component of The Glen.

Vicinity Centres with co-owner Perron Group have decided to sell the air rights above the centre which is at the starting point of its multi-million dollar redevelopment. Apartments.com.au <a href="/news/vicinity-and-pellicano-provide-monash-with-a-development-boost">reported last month</a> on Vicinity's construction launch of the $490 million project, which will expand the existing centre to include 78,000 square metres of gross lettable area.

Vicinity Centres has indicated that the majority of retail spaces within The Glen's first development stage has been leased. Opening late 2017, this initial stage will include an Aldi, Woolworths, Coles and over 60 specialty stores.

Multiple dining precincts and a new Town Square will spearhead the redevelopment's push to open up/be more expressive with its surrounds.

The Glen will open in a number of stages and is expected to be complete by early 2020.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image217_0_0.jpg" rel="gallery-all" title="Future residents will benefit from The Glen's increased offerings"><img alt="" class="image-article-full-width-580px" height="318" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image217_0_0.jpg?itok=v2Bf2Wm1" title="Future residents will benefit from The Glen's increased offerings" width="580"></a>

<figcaption>Future residents will benefit from The Glen's increased offerings</figcaption></figure>As for Golden Age Group, they now inherit the right to deliver 539 apartments across three towers, in accordance with approved plans devised by NH Architecture. 

Initially submitted at a lofty 86 metres to its highest point, The Glen's tallest residential tower was eventually approved at 64 metres or 20 levels. Smaller residential towers reach 12 and 13 levels respectively.

The tallest tower in the area prior to The Glen receiving approval is Australian Nan Xin Investment's Galleria at 52-54 O'Sullivan Road at 15 levels and 47 metres.

Under the approved plans, the 539 apartments are split between 155 single, 357 double and 22 triple bedroom and 5 quad bedroom apartments. Whether Golden Age Group pushes on with the approved design or seeks to alter the format/configuration of the three buildings remains to be seen.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image76_1.jpg" rel="gallery-all" title="517-521 Station Street and Opera are part of the Golden Age Property stable"><img alt="" class="image-article-full-width-580px" height="395" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image76_1.jpg?itok=9ZcjhSAD" title="517-521 Station Street and Opera are part of the Golden Age Property stable" width="580"></a>

<figcaption>517-521 Station Street and Opera are part of the Golden Age Group stable</figcaption></figure>The addition of The Glen's apartment component swells Golden Age Group's current Melbourne portfolio to seven projects, encompassing a very hefty 2,750 apartments.

Victoria One, Opera, <a href="/buildings/collins-house-melbourne-460-466-collins-street-melbourne">Collins House</a> and Sky One Box Hill represent the developer's projects currently at construction. Also in Box Hill, Golden Age Group are pursuing a planning amendment that will allow for the delivery of dual towers across 517-521 Station Street, whilst The Glen joins 85 Spring Street as projects that the developer has licked up post planning approval.

Lead image: Panoramio
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Golden Age Group adds The Glen to their portfolio

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It endured as a paper design for years, but now a new scheme is on show for 41-49 Bank Street, South Melbourne.

Initial overtones of development for the site landed with Port Phillip during 2009, but amounted to nothing even though the project was marketed at one stage as Aero Apartments. Enter Virgate Property (Bank Street) Pty Ltd who are driving the current bid to transform the plot into a substantial residential tower.

Moved on during 2016, 41-49 Bank Street's sale at the hand of CBRE City Sales was <a href="http://www.australiannationalreview.com/chinese-developers-invest-56-million-melbourne-apartment-sites/">reportedly</a> to Chinese developer Guangdong Carrington Real Estate Group, with the previous permit for a 16-level tower of 180 apartments in tow.

Their local development arm, Virgate Property Group, is now pushing for a tower of 19 levels and 174 apartments.

<h2>41-49 Bank Street application summary</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image40_7.jpg" rel="gallery-all" title="Bank Street perspective. Planning image: Bruce Henderson Architects"><img alt="" class="image-article-full-width-580px" height="608" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image40_7.jpg?itok=67TYFLVR" title="Bank Street perspective. Planning image: Bruce Henderson Architects" width="580"></a>

<figcaption>Bank Street perspective. Planning image: Bruce Henderson Architects</figcaption></figure><ul>
<li>1,441sqm holding with in excess of 60 metres of frontage</li>
	<li>Currently a tri-level commercial building</li>
	<li>Proposed 19 level tower at 59.7m</li>
	<li>174 apartments: 37 x 1BR, 11 x 1BR+S, 126 x 2BR</li>
	<li>Apartment sizes: 46-82sqm</li>
	<li>Common areas on Levels 5 and 6</li>
	<li>Basement and above ground provisions for 124 vehicles &amp; 58 bicycles</li>
	<li>2 retail premises of 106sqm and 55sqm</li>
</ul>
Planning &amp; Property Partners are guiding the Bruce Henderson Architects-designed tower through the planning process.

The tower itself features strong vertical elements by way of white metal slats set over silver, grey and dark grey glass. The main north elevation of the proposed tower is dominated by the slats, save for a few sections of unobscured glazing, including an architectural feature within the podium which houses the development's gym. 

Having taken on a modest apartment project in Mont Albert, 41-49 Bank Street represents Virgate Property Group's first Melbourne highrise, although it's certainly not the area's first. Wedged between Dorcas Street and Park Street, 41-49 Bank Street is in the middle of a mushrooming precinct that spreads across Southbank and South Melbourne.

41-49 Bank Street is surrounded by a very healthy number of residential towers (from planning to construction) with 14 listed within the Apartments.com.au Project Database in the immediately surrounding blocks.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image41_3.jpg" rel="gallery-all" title="Views from the site. Image: CBRE City Sales"><img alt="" class="image-article-full-width-580px" height="402" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image41_3.jpg?itok=v1tPXCHF" title="Views from the site. Image: CBRE City Sales" width="580"></a>

<figcaption>Views from the site. Image: CBRE City Sales</figcaption></figure><h2>41-49 Bank Street development team</h2>

<ul>
<li>Developer: Virgatee Property Group</li>
	<li>Application Plans: Bruce Henderson Architects</li>
	<li>Planning: Planning &amp; Property Partners</li>
	<li>Sustainable Management Plan: ADP Consulting</li>
	<li>Daylight Assessment Report: ADP Consulting</li>
	<li>Waste Management Plan: One Mile Grid</li>
	<li>Transport Impact Assessment: One Mile Grid</li>
</ul>
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Take it to the Bank: South Melbourne's latest tower on show

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Affordability is the buzz word, and has been for some time in regards to Melbourne's property scene. It's quite hard to escape the plethora of articles on the pressing issue at the moment, and understandably so.

One such article in this week's AFR goes in depth on the <a href="http://www.afr.com/opinion/columnists/melbourne-holds-the-answer-to-the-housing-crisis-20170403-gvd0wv">housing affordability issue</a>, touching upon both the detached housing and apartment sector, and the differences between the two from a local perspective. In this malaise of unaffordability, one developer has taken steps to position their pending development as a genuine opportunity to secure an inner-city apartment at an affordable price.

Growland's first stage within Footscray's Victoria Square development will see 61sqm one-bedroom plus study apartments priced at $298,000. Any buyer actively looking to enter the market will be aware that the apartment size versus price outcome at Victoria Square is skewed in favour of the buyer.

In a recent media release, Growland's CEO Ronald Chan addressed the affordability quandary:

<blockquote>
The key to addressing Melbourne’s affordability lies in high rises like Victoria Square – strong, modern communities are created through high density living. It is vital that the next generation has access to quality homes, with considered, long lasting architecture, but at a price that is achievable in relation to today’s median household incomes.

Young people also need to be able to live at a reasonable distance to where they work. Melbourne’s employment precinct has traditionally been concentrated to the CBD, meaning the inner ring suburbs are incredibly important to Melbourne’s future growth.
</blockquote>

CoreLogic's median price for a one bedroom Melbourne apartment is $330,000, whilst REIV has the median Melbourne apartment price above $585,000 for the December 2016 Quarter.

With the first stage including 240 one, two and three bedroom apartments, its unclear how many single bedroom apartments are priced at $298,000. Nonetheless it will be an appealing price for a certain segment of the buyer market and an attractive hook in order to encourage buyer interest within Victoria Square.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image14_10.jpg" rel="gallery-all" title="An apartment within Victoria Square"><img alt="" class="image-article-full-width-580px" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image14_10.jpg?itok=o4zrbHHi" title="An apartment within Victoria Square"></a>

<figcaption>An apartment within Victoria Square</figcaption></figure>Previously dubbed Joseph Place, Victoria Square has been extensively covered by Apartments.com.au in the past.

As one of Joseph Road Precinct's power development blocks covering 13,179sqm, Growland hold approval for 939 apartments across 6 separate buildings. Stage 1 of  Victoria Square will rise 23 levels and maintain a wave-like exterior.

In addition to the 240 apartments, Stage 1's street level activation will be considerable. A retail laneway will slice through the distinctive podium, featuring 3,000sqm of retail and hosptiality space which will be built in conjunction with the first tower.

Above, the stand out communal facility is Australia’s first and only Olympic-sized aerial outdoor track. Also in tow is a residents’ pool, gym, and cinema whilst a 3,000sqm podium skypark will provide the project with a generous slab of open space.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/jp-01.jpg" rel="gallery-all" title="Victoria Square's first stage"><img alt="" class="image-article-full-width-580px" height="773" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/jp-01.jpg?itok=K6tDvi2T" title="Victoria Square's first stage" width="580"></a>

<figcaption>Victoria Square's first stage</figcaption></figure>
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Growland positions Victoria Square as an affordable buyer option

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A daring design has emerged for one of Johnston Street's premier corners.

Developer Pirovich is proposing a unique 9 level building on Johnston and Nicholson Streets, complete with hanging greenery and a distinctive central staircase that may well define the design. Fieldwork have created 329 Johnston Street, which also holds secondary frontages to 236 Nicholson Street and 37 Hunter Street.

The cross laminated timer (CLT) proposal would follow in the steps of the pioneering 10-storey Forte residential building and Docklands Library, both of which utilised the CLT method and are located within Victoria Harbour.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image10_10.jpg" rel="gallery-all" title="Nicholson Street perspective. Image: Fieldwork Projects"><img alt="" class="image-article-full-width-580px" height="296" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image10_10.jpg?itok=NxrSos64" title="Nicholson Street perspective. Image: Fieldwork Projects" width="580"></a>

<figcaption>Nicholson Street perspective. Image: Fieldwork Projects</figcaption></figure>Wall, floor and roof segments are fabricated offsite, with the building method's <a href="http://www.crosslamtimber.com.au/">official website</a> showing CLT can:

<ul>
<li>Provide a carbon-neutral construction method</li>
	<li>Allow for more economic foundations and shorter construction time frames</li>
	<li>Allow for immediate access and easy procedures for follow-on trades</li>
</ul>
For their part, Pirovich describes 329 Johnston Street in the following fashion:

<blockquote>
At 329 Johnston Street Abbotsford we are proposing a beautiful and sustainable new building - retail, offices, medical suites and a hotel. The building structure will be cross laminated timber, wrapped in a stunning expanded mesh.

The building fabric is seeking to achieve <a href="http://www.passivehouse.com.au/">Passive Haus</a>, giving future occupiers of the building a happier and healthier place to work, rest and play.

As part of the new development we are setting the building back at ground level and ceding over 200sqm of the site to the public realm.
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image12_6.jpg" rel="gallery-all" title="Project perspectives. Image: Fieldwork Projects"><img alt="" class="image-article-full-width-580px" height="286" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image12_6.jpg?itok=ooh5vn76" title="Project perspectives. Image: Fieldwork Projects" width="580"></a>

<figcaption>Project perspectives. Image: Fieldwork Projects</figcaption></figure>The particulars of the prospective development sees a retail mix including café's, a convenience store and shops across the ground floor, with medical suites and offices accounting for levels one and two.

Subsequent floors carry 41 serviced apartments, split between 8 x 1 bedroom, 26 x 2 bedroom and 7 x 3 bedroom options. At its tallest point 329 Johnston Street would be 30.1m above ground, which would see the project as one of Johnston Street's tallest, with the yellow open stairwell facing Johnston Street running the height of the building.

Three levels of basement parking include provisions for 157 car parking spaces, whilst 70 bicycle spaces are at ground level. With an estimated cost of development at $20 million, Pirovich's ground breaking Abbotsford project is currently at <a href="http://www.yarracity.vic.gov.au/list-planning-applications/view-application/?ApplicationID=3715">advertising</a>.
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Pirovich's daring Abbotsford CLT/Passive House building unveiled

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New and old apartments around inner Melbourne have been compared to see which were more valuable in 2016, according to Secret Agent’s recent report.
The sample included 1674 apartment sales across inner Melbourne’s suburbs and the CBD from January to December 2016.
New apartments are those built from the 90s onwards, excluding any recent off-the-plan apartment sales.
Old apartments include Art Deco units and flats located in 60s to 80s brick buildings.
The model accounted for location, size of the apartment (number of bedrooms, number of bathrooms, floor area of internal and external space) and whether a car park was included or not.
It was found that on average and holding all else constant, older style apartments in inner Melbourne are expected to sell for $38,000 more than new apartments, which is a 5.75% increase in average expected sale price.
This is significant at all levels of significance (p &lt; 0.01).
The results are shown in Table 1.
<a href="https://www.propertyobserver.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%201.40.07%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/Screen%20Shot%202017-02-06%20at%201.40.07%20pm.jpg" alt="">
A comparison based on the number of bedrooms shows that one and two bedroom apartments of both styles had similar average sale prices.
It is mostly with very small (studio) and very large (three or more bedroom) apartments where we can observe the biggest price differences.
Old studio apartments sold on average for 27% more than new studios, while old apartments with three or more bedrooms sold for 19.5% more than their new counterparts.
Different apartment sizes can be accounted for by comparing them on a price per square metre basis.
Table 2 shows that for old apartments, the price per square metre declines as the number of bedrooms increases.
<a href="https://www.propertyobserver.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%201.40.15%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/Screen%20Shot%202017-02-06%20at%201.40.15%20pm.jpg" alt="">
The best value is gained from apartments with at least three bedrooms, which sold on average for $8,600/m2, while older studio apartments were the most expensive per square metre at nearly $10,000/m2.
For new apartments, smaller apartments are all similarly valued, with 1 bedroom selling cheapest at $8,400/m2, nearly $800/ m2 cheaper than older brick and Art Deco apartments.
New apartments with three or more bedrooms are more expensive than larger old apartments at nearly $9,100/m2.
While this data alone gives no definite explanation as to why old apartments are valued more highly than newly built apartments, some possible reasons include:
• On average, older apartment buildings will be smaller than new buildings, which may make them more appealing to buyers. They may also be better located to buyer’s preferences.
• Well maintained or refurbished apartments located in older buildings often have a lot more character than new apartments.
• Our sample contained more than twice as many new apartments compared to old, suggesting that the relative rarity of good quality, older style apartments makes them more appealing.
• Older apartments often have more spacious layouts and higher ceilings.
Even so, it is somewhat surprising that the average sale price of older apartments surpasses that of new apartments.
Often more amenities (gym/pool, underground parking, etc.) are found in newer apartment buildings and they are generally easier to maintain.
This may suggest that new developments are not meeting the needs of buyers, who instead are willing to pay a premium for older apartments.
A three bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-st+kilda-125090398" target="_blank">7/29 Marine Parade</a>, St Kilda (above) has been listed for sale with interior filled characters and bay views for April 22 auction.
For more information from Secret Agent, <a href="https://secretagent.com.au/" target="_blank">click here</a>.
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j.ballantyne1990-6AQqhLzZaK

Why three bedroom older apartments offer the best value

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Most Melbourne apartments are failing to meet minimum design requirements, according to Secret Agent’s latest bulletin.
The website recently released its findings on the state of recently built apartments in comparison to the Better Apartments Design Standards.
"What we found only confirmed our intuitive assumptions of inner Melbourne’s apartments: they’re generally hard to live in.
"While our full report dove into detail about each standard, this bulletin sums up the results of the overall study to shed light on the bigger picture, see the table below.
"We sampled 3000 apartments built in the last 6 years across 21 suburbs in Melbourne,” the report stated.
<a href="https://www.propertyobserver.com.au/images/2017/03/16/Screen%20Shot%202017-03-16%20at%203.39.53%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/16/Screen%20Shot%202017-03-16%20at%203.39.53%20pm.jpg" alt="">
Overall, 99.7 percent (2,991 apartments) failed to meet all the minimum requirements.
Only 9 apartments passed the seven standards we assessed (main bedroom dimensions, smallest bedroom dimensions, living room dimensions, private open space, windows, room depth, storage).
Out of these, 4 were 1 bedroom units, and 5 had 2 bedrooms.
<ul>
<li>94.2 percent (2,826 apartments) had balconies that were too small, or had none at all.</li>
<li>92.3 percent (2,770 apartments) were too small in terms of both bedrooms and living rooms, failing to meet all minimum dimensions.</li>
<li>84 percent (2,520 apartments) had either bathrooms or corridors that were too small. These failed accessibility standards.</li>
<li>70 percent (2,100 apartments) were not well-ventilated. Most of these only had windows on one side of the apartment, with the opposite wall facing the internal corridors.</li>
<li>52 percent (1,560 apartments) did not provide adequate sunlight to bedrooms. More than half of our sample either had no windows to their bedrooms, or had ‘snorkel’ windows that were deeper than allowed.</li>
<li>15.6 percent (468 apartments) were too deep, reducing natural light in parts of the living and dining areas.</li>
</ul>
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Melbourne apartments failing minimum design requirements

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Ringwood's apartment market is displaying a new-found degree of depth and maturity of late.

Whilst Apartments.com.au has in the past placed the spotlight on a handful of pending high-rise projects that will physically redefine the suburb, <a href="/new-apartments/ringwood-vic-3134">Ringwood's</a> current apartment charge is most definitely due to a squadron of low and mid-rise projects that have propelled the suburb to the fore as an apartment market of choice.

A sign of Ringwood's progression is news that has filtered through in the last week regarding the sale of a penthouse within the Eden Square project. Located across the top floor within Stage Two of the development, the 288sqm dwelling has just sold off the plan for a sizeable $2.42 million.

This follows on from the news that five apartments within the development were sold for over $1 million, whilst selling agen Marshall White Projects also oversaw the sale of all 10 apartments containing three bedrooms sold with a matter of hours during project launch.

Pushing apartment prices within the suburb to new highs, the success of the Eden Square project is very much symptomatic of Ringwood's success of late.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image84_6.jpg" rel="gallery-all" title="Eden Square. Image: Marshall White Projects"><img alt="" class="image-article-full-width-580px" height="266" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image84_6.jpg?itok=evTw1sb3" title="Eden Square. Image: Marshall White Projects" width="580"></a>

<figcaption>Eden Square. Image: Marshall White Projects</figcaption></figure>Ringwood's progression is backed by data released by RPM Real Estate during March which translates the suburb's success into raw numbers.

The outer east's designated Metropolitan Activity Centre, Ringwood has and will continue to be the beneficiary of an investment pipeline which equates to $1.213 billion. According to RPM Real Estate, that investment will span 148,527sqm of non–residential floor space and 1,392 residential dwellings.

Hand in hand with these figures are the increased employment opportunities across the area; 2.8% per annum over the two years to September 2016, thus providing 8,500 plus additional jobs. RPM Real Estate data also shows that Ringwood's median house price has increased by a sizeable average of 15.6% per annum to $860,000, while its median unit price has increased by 8.9% per annum on average to $530,125.

With this increased development and employment activity, and the rise of respective median prices, Ringwood's Metropolitan Activity Centre's resident population is forecast to increase by 58% over the five years to 2021.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image68_8.jpg" rel="gallery-all" title="The Selection is coming to Ringwood"><img alt="" class="image-article-full-width-580px" height="340" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image68_8.jpg?itok=KFAjDYLA" title="The Selection is coming to Ringwood" width="580"></a>

<figcaption>The Selection is coming to Ringwood</figcaption></figure>In light of the above figures, it would then come as no surprise that Ringwood's apartment market has reached a stage where pending releases are seeking to distinguish themselves from the pack. No longer a one-dimensional apartment market, this new level of differentiation where one project trumpets its superiority relative to others demonstrates an expanding degree of market depth.

Put quite simply Ringwood's apartment market is now large enough to offer genuine choice for prospective buyers.

<a href="/buildings/the-selection-8-bond-street-ringwood">The Selection</a> is the latest project looking to capitalise on the emerging and increasingly diverse Ringwood apartment buyer. Located at 8 Bond Street and diagonally opposite Eastland, the project which has yet to formally launch, has positioned itself as a cut above in terms of quality.

In terms of current and future projects, Apartments.com.au is tracking 16 major developments within Ringwood; the majority are dedicated apartment projects with Sage Hotel Eastland and Quest Maroondah Highway the notable exceptions. The overall number of 16 projects will invariably increase as new developments come online.

During March a revised application was submitted for <a href="/new-apartments/bond-central-48-bond-st-ringwood">48-52 Bond Street</a>. In a sign of confidence in the market, its proponents have sought to expand the development from three to seven levels, with the new plans expected to yield 90 dwellings onsite.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_0967.jpg" rel="gallery-all" title="Sage Hotel atop Eastland "><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_0967.jpg?itok=HyxWjBtv" title="Sage Hotel atop Eastland " width="580"></a>

<figcaption>Sage Hotel atop Eastland</figcaption></figure>
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