IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Joel Robinson

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Abadeen unveils penthouse at Park Residences in Cremorne

Build to Rent

Brisbane developer Belmonde Property Group, in a joint venture with Sun Luxe Group, have filed plans for their over 1000 build to rent units in the heart of the 2032 Olympic precinct.

The project, dubbed Gabba Heart Precinct at 79 Logan Road, will see four towers built, three of which will home 1,387 build-to-rent units. The fourth tower will be part hotel, part serviced apartments.

The towers will rise above three podiums which will comprise&nbsp;significant retail and food and beverage tenancies.&nbsp;Each of the towers will have amenity on both the podium level and the rooftop. Two will have rooftop swimming pools.

Architecture firm Cottee Parker are behind the designs of the precinct, with landscaping by Urbis. Cottee Parker say the project will "reactivate the heart of Woolloongabba, embrace Brisbane’s subtropical climate, and showcase the best of Queensland’s unique climate and lifestyle with iconic architecture."

<img alt="Woolloongabba" data-entity-type="file" data-entity-uuid="74795326-8fe7-4a24-ae37-4346374cb8d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-08-22%20at%204.20.00%20pm.png?VersionId=uHcAQlOLQL0lq2jte_bNcoaB.h3NdEwf" />

Cottee Parker Director Martin Timms says the Gabba Heart Precinct will do for Woolloongabba what the James Street Precinct did for Fortitude Valley.

“This project will reactivate the heart of Woolloongabba, embracing Brisbane’s subtropical climate and showcase the best of Queensland’s unique climate and lifestyle with iconic architecture,” Timms says.

“The projects vision also includes upgrading Logan Road to a high street that will maximise the existing road width and create a vibrant space for a new retail precinct.

“This is the first of what I’m sure will be many developments to meet the needs of the 2032 Brisbane Olympic Games.”

The application is another which is looking to push past the height limits of the area, which is currently set at 20 levels.

Saunders Havill Group suggested in their Town Planning Report that since the adoption of the Woolloongabba centre neighbourhood, the long-term vision for the locality has changed dramatically with investment into significant transport infrastructure and the redevelopment of the Gabba stadium.

"The current circumstances mean that the provisions of the Woolloongabba centre neighbourhood plan are out of date and have been overtaken by events," their submission noted.

"The provision of key infrastructure outcomes and the intent for the locality to be the centre of the Brisbane 2032 Olympic and Paralympic Games have changed the community’s expectations about the form and scale of development that will occur within the locality. These expectations are no longer linked to the provisions of the neighbourhood plan."

<img alt="Gabba" data-entity-type="file" data-entity-uuid="d2eef504-5ae4-4212-83d9-69f7bc7554c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-08-18%20at%209.01.33%20am.png?VersionId=Lz5LBlJS8DTGT6qlB48q00CIZLGP4K08" />

They said this proposal seeks to align with the new expectations and builds on the vision of the locality for high quality development outcomes that leverage the government investment in the precinct.

They cited Trenert's Station Square proposal, which will have five new towers rising up to 40 levels.&nbsp;

There's also Trilogy, the 525 apartment development Arden Group on the corner of Vulture and Main Streets. They will top 30 levels, as will Aria's Canopy House development and Sarazin's Silk Three towers.

"The development of the site provides the opportunity to not only deliver a high quality, subtropical development outcome that will enliven the site, but also the opportunity to deliver significant improvements to the entirety of the heart of Woolloongabba", Saunders Havill Group added.

79 Logan Road, on a large 9,361 sqm site, is only 250m from Woolloongabba station which connects directly to Brisbane CBD Casino Precinct.

Architecture firm Cottee Parker are behind the designs of the precinct, which they say will "reactivate the heart of Woolloongabba."



First look exclusive: Belmonde plot over 1,000 build-to-rent units in "Gabba Heart Precinct"

The Electrical Trades Union of Employees Queensland has submitted plans for a 358 build-to-rent apartment tower in the heart of South Brisbane.

The 1838 sqm site at&nbsp;37-41 Peel Street, on the&nbsp;corner of Peel Street and Merivale Street, will home a 30-level building which has been designed by Nettletontribe&nbsp;to suit the rental market, with the unit mix including studio&#39;s and one and two-bedders.

With an intent to increase the pedestrian activation along Peel Street and address the footpath treatment, ground floor activation and podium treatment has been considered to contribute positively to its context through the introduction of high-quality landscape to the streetscape.

The Queensland sub-tropical climate is reflected in the built form and landscape design with planted edges and shady under croft pedestrian paths. A tropical green language is used to assist with podium screening and the planter boxes provide a multi-faceted layering of detail.

<img alt="" height="364" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-04-20_at_11.49.34_am.png" width="918" /> 
Podium elevation of the proposed development on Merivale Street. Image sourced.&nbsp;

The tower extends this concept with planter boxes along the tower edge, and a landscaped rooftop communal and pool area.

A refined palette of natural tones and textures is used throughout with the architectural language expressing &ldquo;elegance through simplicity&rdquo;.

&ldquo;Materials such as concrete, metal, glass and timber are combined with lush greenery to create a timeless design impression,&rdquo; Nettltontribe noted in their design statement.

The proposal provides a distinct lower and upper building form, with the building entry points articulated and well defined for pedestrians, with a resemblance to Queenslander&rsquo;s gatehouse and forecourt. Street awnings and podium structures are designed to provide high degree of shade, cover and visual interest in various depth and scale.

<img alt="" height="1068" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-04-20_at_11.51.42_am.png" width="682" /> 
The proposed development at 37-41 Peel Street, South Brisbane. Image sourced.&nbsp;

A transparent street edge has been created through the use of screening, allowing activation to occur on the periphery of the ground floor common area.

Common areas are located on landscaped street level, level 30 and the roof terrace. Sitting above all residential floors, both indoor and outdoor communal areas take advantage of natural lighting and provide access to sweeping views to the city, South Bank and the river for all its residents.

The City Rooms along peel street provides immediate interface between residents, visitors and the public, with breakout landscaped spaces for users that are sensitive to Brisbane&rsquo;s subtropical climate and appropriate for the Brisbane culture and character.

The apartment tower design celebrates a landscaped, open roof terrace, connected to common areas in the level below, with sweeping 360 degree views to the North and South.

This provides a natural conclusion to the building form, enhancing future opportunities for communal gathering in an organised setting.

The project brings into play Brisbane City Council&rsquo;s vision of engaging the broader community through art and lighting with a number of design ideas. The group have proposed that the site&rsquo;s corner location offers opportunity to utilise the ground plane as a place for activation and engagement, hence the need for a sensitively lit podium to ensure the safety of the general public, while the podium soffit can be utilised as a canvas for light installations with colour-adaptable up lights that engage with Brisbane City sporting events and celebrations.

<img alt="" height="1042" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/peelstreet-elevated-view-to-landscaped-podium_0.png" width="1200" /> 
Elevated view of the&nbsp;landscaped podium at Peel Street. Image sourced.&nbsp;

Sculptural public art is envisaged on the prime corner location which assist in creating a meeting place and way-finding into the building as well as an art display wall at the building&rsquo;s entry, amplifying the ground plane experience and tying into Brisbane&rsquo;s developing art scene within the neighbourhood.

The site is located in the Brisbane suburb of South Brisbane on the corner of Peel Street and Merivale street, approximately 1.3 kilometres south west of the city centre. The site is close by to a number of notable amenities including the South Brisbane Railway Station, the State Library, QPAC, GOMA, South Bank Parklands, the M3 and inner city bypass.

Well within walking distance to both cultural and life style hubs, the pocket location offers separation from unwanted noise and traffic within its pedestrian orientated urban context, while still staying connected to the bustling Brisbane suburb.

Build-to-Rent (BTR) is an emerging asset class in Australia with some forms of BTR already established within the Australian market including Purpose Built Student Accommodation and Aged Care / Retirement Housing currently being the most prolific.

Other build to rent sites include Frasers 210 Brunswick Street, Mirav&rsquo;s, LIV at 60 Skyring Terrace, 2 Cordelia Street, South Brisbane, 28 Robertson Street, Fortitude Valley and 13-17 Cordelia Street, South Brisbane.

Designed by Nettleton Tribe, the development will comprise 77 studio, 154 one-bedroom plus MPR, and 127 two-bedroom units.



alisonwarters@gmail.com

First look: ETU lodge plans for build-to-rent South Brisbane apartment tower

&quot;How are we going to be able to afford property?&quot;

That&#39;s the disgruntled question often&nbsp;muttered when first home buyers start looking at getting on the property ladder.

Runaway property prices have seen young prospective buyers either compromise on a number of factors of a purchase, whether it be location or number of bedrooms, when buying their first apartment. Some will stay living with their parents, and some will turn to renting.

One of Melbourne&#39;s most innovative developers, the&nbsp;affordability-conscious&nbsp;Assemble, has a unique model which has already helped many young Australian&#39;s get in to the property market.

Rather than the traditional build to sell (we develop, you buy) model, which has out-priced many, their Build to Rent to Own offering (known as Assemble Futures) allows prospective buyers to rent apartments, with a free option to buy, after five years.&nbsp;&nbsp;

[smartcode_project:default project_id=28968 project_image_fid=195525]

<h2>What are Build to Rent to Own communities and how do they work?&nbsp;</h2>

Assemble began with Assemble Futures, previously known as the Assemble Model, offering an alternate pathway to home ownership, enabling residents to rent securely for five years, with the option to buy their home at the end of the lease period.

In June 2020, Australia&rsquo;s largest superannuation fund, AustralianSuper invested into the company, with a focus on supporting the expansion of the Assemble Futures model to help address housing affordability and create better access to homeownership.

&quot;Assemble​ Futures supports first home buyers into homeownership by enabling them to move in and experience their home and community for five years, while saving for a deposit to buy it,&quot; Assemble&#39;s​ director of marketing and relationships, Rebecca Shackleton, told Urban.

&quot;It protects them from shifts in the property market as they lock in the future purchase price of their home, and leases are renewed every 12 months, so if life takes them elsewhere, they have the flexibility to leave after the first 12 months.&quot;

[smartcode_project:default project_id=28968 project_image_fid=194522]

The hybrid Build to Rent model offers stable rents, certainty of tenure, financial coaching, and community services, giving residents the option to purchase after a five-year lease period at a pre-agreed price.

This pricing stability&nbsp;creates a pathway&nbsp;to homeownership that supports Australians with a moderate income, as defined by the&nbsp;<a href="https://www.planning.vic.gov.au/policy-and-strategy/affordable-housing/resources">Victorian State Government</a>.

Assemble&#39;s ambition is to challenge Australia&#39;s unfair housing system, with a focus on developing pathways into high quality, sustainable, stable housing.&nbsp;

&ldquo;With a deep respect for people, place, and planet, we deliver housing and create communities that embrace diversity, reflect local culture, and nurture a stronger sense of ownership and belonging,&rdquo; Shackleton said.

[smartcode_project:default project_id=28968 project_image_fid=195527]

Assemble, starts construction on its newest Build to Rent to Own development, 15 Thompson St, Kensington, this month.&nbsp;

MAKE - Assemble&#39;s parent company,&nbsp;spent $30 million on the site, which is the third project by the group in the inner Melbourne suburb.

Construction firm, Hacer Group has been awarded the contract to deliver the Kensington project valued at $190m, designed by Hayball with landscaping by Oculus.

Assemble Managing Director, Kris Daff said support by the Government, planning authorities and AustralianSuper, demonstrates confidence in offering Australian&rsquo;s alternative pathways into home ownership.

[smartcode_project:default project_id=28968 project_image_fid=195526]

&ldquo;Kensington is a highly prized inner-city location, and this approval unlocks access to design-driven, sustainable and community-oriented apartment living for Melbournians,&rdquo; said Daff.

&nbsp;Earlier this year Assemble secured rezoning of two prime industrial sites in Clayton and in East Bentleigh for future residential development.

Daff said it was a strong move that ensures Victorians will have an appropriate supply of social and affordable housing to meet the critical shortfall.

&quot;We are now a step closer to delivering over 1,600 social and affordable housing units, along with much needed health, commercial and retail outcomes, for the broad Glen Eira and Monash communities,&quot; Daff says.

[smartcode_project_cta: project_id=28968]

Assemble’s Build to Rent to Own (BTRTO) housing model is delivered through Assemble Futures.



How Melbourne developer Assemble is changing the game for first home buyers

The innovative Melbourne property developer, Assemble Communities, whose unique pathway to home ownership has already helped thousands get on the property ladder,&nbsp;has secured planning approval for its 199-apartment Build to Rent to Own development, 15 Thompson Street in Kensington.

Australian superannuation fund, AustralianSuper, will invest in the project, providing a pathway to home ownership for moderate-income buyers.

The super company purchased a 25 per cent share in Assemble Communities in June 2020 and has an option to invest in Assemble&rsquo;s future pipeline of projects that encourage home ownership through the developer&rsquo;s innovative Assemble Futures (or Build to Rent to Own) housing model.

[smartcode_project:default project_id=28968 project_image_fid=80125]

Construction firm, Hacer Group has been awarded the contract to deliver the Kensington project valued at $190m, designed by Hayball with landscaping by Oculus.

Assemble Managing Director, Kris Daff said the support by the government, planning authorities and its cornerstone investor demonstrates confidence in offering Australian&rsquo;s diverse affordable housing choices.

&ldquo;Kensington is a highly prized inner-city location, and this approval unlocks access to design-driven, sustainable and community-oriented apartment living for Melbournians,&rdquo; said Daff.

Demolition is now complete at 15 Thompson St, Kensington and construction is scheduled to commence by April this year.

[smartcode_project:default project_id=28968 project_image_fid=80128]

The approval cements Assemble as an impact-focused Australian housing development business which holds a significant $3 billion privately funded social and affordable rental housing portfolio&mdash;the largest of its kind in Australia.

Its existing pipeline with 5,000 dwellings will inject $1 billion of construction activity into Victoria&rsquo;s economy alone and create 8,000 construction jobs.

Hacer Group Director General Manager, Mark Lewis spoke on the significance of the milestone and the impact it has on the future of affordable housing.

[smartcode_project:default project_id=28968 project_image_fid=80126]

&ldquo;We are eager to break ground on this project and bring the Assemble vision to life by giving more people the chance to live sustainably&rdquo; he said.

Assemble has several Build to Rent to Own projects underway with 393 Macaulay Road, Kensington scheduled for completion by May this year&nbsp;and 4 Ballarat Street, Brunswick to commence construction as soon as a planning permit is secured.

The developer also acquired the site at 402 Macaulay Road, Kensington in early 2021 which will be transformed into a 370-apartment Build to Rent community.

[smartcode_project_cta: project_id=28968]

Australian superannuation fund, AustralianSuper, will invest in the project, providing a pathway to home ownership for moderate-income buyers.



Assemble Communities secures approval of Kensington apartment project

Global investment manager Hines has paid $16.5 million for its first site in Brunswick.

Set six&nbsp;kilometres from the centre of Melbourne, Mirvac and Milieu Property are currently developing a nearby BTR project on Albert Street with more than 500 rental apartments.

Hines plans to develop a 250-unit BTR apartment complex at the 4247-square metre site at 10 Ballarat Street.

It will have an end value of $250 million.

[smartcode_project:default project_id=94542 project_image_fid=160729]

Sam Bisla, who heads Hines new BTR and co-living business in Australia, said the asset class would deliver &quot;defensive, stable cash flow&quot; for investors.

The warehouse site, leased to Bell Plaster Supplies, sold through Colliers with a permit for an eight-level building of 163 apartments designed by Bruce Henderson Architects.

It is expected planning authorities will grant extra capacity for BTR.

Build to Rent refers to a residential development in which all apartments are owned by the developer and leased out to tenants, as opposed to the build-to-sell model.

The site last sold for $12 million in 2017.

[smartcode_project:default project_id=94542 project_image_fid=160734]

Mirvac and joint venture partner Milieu have a late 2024 scheduled completion date for its a one-hectare site in Brunswick.

Mirvac has estimated the project would cost $172 million to build.&nbsp;

Assemble Futures are currently marketing their take on build-to-rent (Rent-Save-Buy) just a few doors down from the recent sale.

Their 4 Ballarat Street project,&nbsp;with design by&nbsp;Fieldwork Architects&nbsp;and landscape design by Rush Wright, places an emphasis on providing a seamless transition to the natural environment, with each apartment running on 100% renewable energy.

The&nbsp;spacious outdoor areas and floor-to-ceiling glazing provide&nbsp;plenty of light to fill each living space and cross-flow ventilation.&nbsp;

[smartcode_project:default project_id=94542 project_image_fid=160741]

Global investment manager Hines has paid $16.5 million for the 4247-square metre site at 10 Ballarat Street

jchancellor-FAypfDUnLy

Hines joins Brunswick build-to-rent push

Oxford Properties Group (&lsquo;Oxford&rsquo;) and Investa today announced they have received development approval from the Independent Planning Commission (IPC) for the first build to rent building in the Sydney CBD, a new residential development above the South entrance of the Sydney Metro Pitt Street Station.

The development will deliver an innovative, sustainable, purpose-built build to rent residential building that will create an unmatched rental experience for residents in the Sydney CBD. The approval is a major milestone for the project and is the first step in Oxford&rsquo;s strategy to create a leading build to rent platform in Australia and to attract co-investment from like-minded and strategic investors. The platform is being created in partnership with Investa, which is Oxford&rsquo;s local operating and development partner for its office portfolio and growing build to rent business.

<img alt="" height="530" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/pitt_st_station.jpg" width="920" />

The 39-storey building will feature 234 residential apartments with extensive on-site amenities, including a wellness floor, rooftop terrace and adjoining communal space, an entire floor dedicated to work from home spaces, a social lounge and up to 682 square metres of retail. The building is targeting a 5 Star Green Star rating, with 30% Basix energy targets and 40% water targets.

Nellie O&rsquo;Keeffe, Project Director at Oxford Properties said, &ldquo;this is an exciting milestone for a truly transformational project. We are working with a world-class project team, which includes leading Australian architects Bates Smart and are committed to delivering a project that sets the bar for purpose-built rental in Sydney.

[smartcode_project:default project_id=7758 project_image_fid=79424]

Located on the corner of Pitt and Bathurst streets, the development is ideally positioned to provide a lively city lifestyle to future residents, ranging from young families, to working professionals to downsizers. Seamlessly integrated with the new Pitt Street metro station and well connected to other primary transport hubs, residents will benefit from connectivity to Greater Sydney and close proximity to Hyde Park and some of Sydney&rsquo;s best retail, dining and entertainment attractions, while enjoying the convenience, amenity, flexibility and sense of community this location offers.

Oxford&rsquo;s build to rent pipeline in Australia now includes approximately 1,000 units, following the acquisition of its first build to rent site in Melbourne at 3 McNab Avenue, Footscray, and is targeting more than 5,000 units over the next 10 years.

Oxford&rsquo;s consortium partners, CPB Contractors commenced construction on the metro station in December 2020. The residential development is scheduled to begin in late 2021 and due to be completed in line with metro services in 2024. Oxford anticipates that around 350 jobs will be created through the construction over a 24-month period.

Oxford Properties Group (‘Oxford’) and Investa today announced they have received development approval from the Independent Planning Commission (IPC) for the first build to rent building in the Sydney CBD

jordan_55689

Development approval locked in for Sydney CBD's first build to rent development

<html><body>
EXPERT INSIGHT

Australia’s emerging build-to-rent sector is growing — “<a href="https://theurbandeveloper.com/articles/build-to-rent-boom">booming</a>” by some accounts with a <a href="https://www.cbre.com.au/about/media-center/australian-btr-pipeline-grows-by-70-in-one-year">70% jump in value in the past year</a>. Under this model, institutional investors develop purpose-built rental apartments to retain and operate under single ownership. In Australia, it will change how apartments are designed and developed, how we are housed and how our tenancies are managed.

With 40 projects under way, an <a href="https://www.cbre.com.au/about/media-center/australian-btr-pipeline-grows-by-70-in-one-year">estimated</a> 15,000 units worth more than A$10 billion are in the pipeline. Site availability has made Melbourne popular, with over 50% of the national market. Investors are active in Sydney, Perth and Queensland too.

Sought-after neighbourhoods are earmarked for large developments. Many have 300 or more units, most at market-rate rents.

Build-to-rent is new to our shores, but hardly uncharted territory abroad. In the UK, the sector expanded exponentially from 2013 with government support. It now accounts for <a href="https://assets.publishing.service.gov.uk/government/uploads/system/%20uploads/attachment_data/file/817037/FT1101_Trends_in_tenure.xlsx">one in five new homes built in England</a> and <a href="https://data.london.gov.uk/dataset/housing-london">one in four in London</a>.

In the US, the built-to-rent sector is relatively mature. It makes up almost two-thirds of the rental stock in many of the largest cities. Heavyweight corporate landlords operate <a href="https://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2020-top-managers-list/">as many as 400,000 units each</a>.

In Australia, we need more data and more informed public debate to guide tax, design, planning and tenancy reforms to secure the best possible urban and social outcomes from the build-to-rent expansion.

The build-to-rent promise

Build-to-rent presents an enticing vision. For households, it promises several things:

<ul>
<li>
	flexible long-term tenancies
	</li>
	<li>
	client-centric onsite management
	</li>
	<li>
	hotel-style amenities and services
	</li>
	<li>
	allowances for <a href="https://theconversation.com/can-i-have-a-pet-and-be-housed-too-it-all-depends-155202">pets</a> and personalisation, such as painting and decorating.
	</li>
</ul>
<figure class="align-center "> </figure>For cities, the model promises high-amenity, well-located, purpose-built rental apartments that cater to diverse and changing housing needs.

Proponents hail build-to-rent as a win-win. It’s seen as a salve for various housing woes, including concerns about housing <a href="https://www.ahuri.edu.au/__data/assets/pdf_file/0012/13242/AHURI-Final-Report-281-Housing-supply-responsiveness-in-Australia-distribution-drivers-and-institutional-settings.pdf">supply</a>, <a href="https://www.domain.com.au/news/housing-affordability-already-declining-across-the-nation-on-the-cusp-of-being-obliterated-1031061/">affordability</a>, the <a href="https://www.rentingcommissioner.vic.gov.au/the-rental-sector/key-issues">private rental sector</a> (including insecure tenancies and inexpert property and tenancy management) and <a href="https://theconversation.com/dealing-with-apartment-defects-a-how-to-guide-for-strata-owners-and-buyers-150292;%20https://theconversation.com/life-in-a-windowless-box-the-vertical-slums-of-melbourne-41181">apartment quality</a>.

Since the COVID-19 downturn, the model has been <a href="https://www.budget.vic.gov.au/place-call-home-victorias-big-housing-build">hailed</a> as an economic lifeline too: good for the construction sector, good for jobs.

Rise of a new asset class

For build-to-rent investors, the rental revenue returns appear relatively modest. Under current market conditions, however, secure margins and “lower (but) for longer” investment prospects appeal.

Advocates continue to push for <a href="https://urbis.com.au/insights-news/build-to-rent-stimulating-recovery-ensuring-resilience/;%20https://www.allens.com.au/globalassets/pdfs/campaigns/accelerating-build-to-rent-march19.pdf">tax reforms</a>. They point to a growing “<a href="https://info.propertycouncil.com.au/property-australia-blog/build-to-rent-growth-spurt-ahead">weight of capital</a>” awaiting more enticing returns. But many international <a href="https://theurbandeveloper.com/articles/oxford-gurner-move-on-melbourne-build-to-rent">build-to-rent behemoths</a>, superannuation/pension funds, private equity firms and real estate investment trusts are entering our private rental sector regardless.

Institutional investors’ entry into our rental sector contributes to a broader paradigm shift in urban housing systems dubbed the <a href="https://www.onlinelibrary.wiley.com/doi/abs/10.1111/1468-2427.12522">financialisation</a> of (rental) housing.

States have endorsed build-to-rent, improving its viability with <a href="https://theconversation.com/why-nsw-is-skewing-its-tax-system-toward-build-to-rent-apartments-and-away-from-mum-and-pop-landlords-143594">land tax concessions</a>, exemption from foreign investor surcharges, privileged planning pathways and pilot projects (e.g. <a href="https://www.treasury.qld.gov.au/programs-and-policies/build-to-rent-pilot-project/">in Queensland</a>). The federal government’s position has been more ambiguous.

Crucially, the rise of build-to-rent sets in motion two important structural shifts

<ol>
<li>
	institutionalising the private rental sector
	</li>
	<li>
	diversifying residential development models.
	</li>
</ol>
Historically, <a href="https://grattan.edu.au/wp-content/uploads/2018/03/901-Housing-affordability.pdf">small-portfolio “mum and dad” landlords</a> have owned and managed our rental stock. They are motivated by many of the same benefits (such as tax concessions and capital gains) and exposed to the same risks as owner-occupiers.

So we’ve had a high degree of integration between the private rental and owner-occupier sectors: few dwellings were purpose-built for renting and most homes were readily interchangeable between sectors.

Build to rent disrupts this integration. It replaces the fragmented ownership of apartment buildings under strata title laws with a single institutional owner.

Build to rent also diverges from familiar speculative build-to-sell development geared towards short-term profits. Its longer-term investment horizons give developers a new incentive to minimise a building’s running costs and to create apartments that appeal to and retain tenants.

So will it deliver?

Will build to rent provide high-quality, high-amenity, professionally managed rental homes? And at what scale, for how long, and at what costs to whom?

In the longer term, will this model disrupt the socio-political <a href="https://theconversation.com/three-reasons-the-government-promotes-home-ownership-for-older-australians-80200">twinning of home ownership and home</a>?

<hr>
Read more: <a href="https://theconversation.com/ideas-of-home-and-ownership-in-australia-might-explain-the-neglect-of-renters-rights-104849">Ideas of home and ownership in Australia might explain the neglect of renters’ rights</a> 

<hr>
Could build to rent be a catalyst for more progressive tenancy reforms, leading towards tenure neutrality/equality where ownership isn’t seen as automatically superior to renting?

These questions matter. <a href="https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure">One in three</a> Australian households now rent their housing. Some <a href="https://theconversation.com/retiree-home-ownership-is-about-to-plummet-soon-little-more-than-half-will-own-where-they-live-115255">argue</a> we’re headed for a “post-ownership” society in which most people rent their homes.

<figure class="align-center zoomable"><a href="https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="chart showing changes in proportions of households by tenure type" sizes=" 600px) 600px, 237px" src="https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=384&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=384&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=384&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=483&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=483&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=483&amp;fit=crop&amp;dpr=3 2262w"></a>
</figure>Private rental was once a route to ownership. Now it’s a destination. Ownership has been delayed, become unattainable or been <a href="https://theconversation.com/i-wouldnt-want-to-buy-even-if-i-had-the-money-the-rise-of-renters-by-choice-130696">“traded off” for flexibility</a> and being able to live in desirable locations.

Tenants are also <a href="https://www.tandfonline.com/doi/abs/10.1080/14036096.2018.1467964">more diverse</a>. There are more lower-income and higher-income earners and more families than ever before.

Renters endure short leases on often <a href="https://theconversation.com/chilly-house-mouldy-rooms-heres-how-to-improve-low-income-renters-access-to-decent-housing-116749">poorly maintained</a> properties owned by a cottage industry of “mum and dad” landlords. Social housing options are few and far between in a sector that has been marginalised and <a href="https://www.propertyobserver.com.au/https://www.ahuri.edu.au/research/final-reports/108">residualised</a>. More renters, <a href="https://theconversation.com/australia-had-rent-control-in-wartime-war-on-coronavirus-demands-the-same-response-135694">uncapped rents</a>, <a href="https://theconversation.com/an-open-letter-on-rental-housing-reform-103825">weak tenant protections</a> and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2021-02-24/wage-price-index-abs/13187102">stagnating wages</a> make for a toxic mix of <a href="https://theconversation.com/australia-had-rent-control-in-wartime-war-on-coronavirus-demands-the-same-response-135694">housing stress</a> and financial risk.

<hr>
Read more: <a href="https://theconversation.com/build-to-rent-could-be-the-missing-piece-of-the-affordable-housing-puzzle-82320">'Build to rent' could be the missing piece of the affordable housing puzzle</a> 

<hr>
Reasons to proceed with caution

We don’t have robust evidence to answer these questions, but limited evidence suggests caution is well advised.

In Australia, build-to-rent properties look set to attract rents of about <a href="https://www.afr.com/property/residential/rental-only-apartments-test-tenants-appetite-in-a-weak-market-20200804-p55iij">10-15% more</a> than comparable non-BTR housing, just <a href="https://www.colliers.com/en-gb/news/09-07-18-firm-evidence-that-build-to-rent-schemes-command-higher-rents">as they have in London</a>. Without government subsidies, market-rate BTR <a href="https://cityfutures.be.unsw.edu.au/documents/558/LCOM_0000_Build_to_Rent_Report_WEB.pdf">will not provide more affordable housing</a>.

Overseas, these rental premiums, alongside planning leniency (which reduced the affordable housing required of these developments), have been blamed for <a href="https://www.ft.com/2020living">poor outcomes</a>, such as residents being priced out of neighbourhoods they could once afford.

In Ireland, permissive planning concessions enable build-to-rent developers to circumvent design standards. This has <a href="https://www.gov.ie/en/publication/15f0b-design-standards-for-new-apartments-dsfna-2018/">raised concerns</a> that build-to-rent may deliver smaller, less diverse and lower-amenity housing (less storage, for example) than standard build-to-sell development.

In New South Wales, BTR developments <a href="https://www.treasury.nsw.gov.au/sites/default/files/2021-02/Treasurer%E2%80%99s%20Guidelines%20for%20the%20Reduction%20in%20Land%20Value%20for%20Certain%20Build-to-rent%20Properties%2C%20for%20Land%20Tax%20Purposes.pdf">cannot be subdivided for 15 years</a> (without clawback of land tax concessions). This ensures buildings remain in use as rental stock for that period. But what will happen after that?

<a href="https://theconversation.com/profiles/megan-nethercote-156060">Megan Nethercote</a>, ARC DECRA Fellow at the Centre for Urban Research, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/build-to-rent-surge-will-change-apartment-living-for-australians-but-for-better-or-worse-154839">original article</a>.
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In Australia, we need more data and more informed public debate to guide tax, design, planning and tenancy reforms to secure the best possible outcome for build-to-rent

Build-to-rent surge will change apartment living for Australians but for better or worse?

Australia&#39;s build to rent pipeline has grown by nearly 70 per cent over 2020, new research by CBRE has found.

Their Build-to-Rent development pipeline report showed a 68 per cent expansion, topping&nbsp;40 projects. The total number of units was approaching 15,000 &ndash; a new high for the asset class.

There was a&nbsp;28 per cent increase in new projects in the second half of last year relative to the first six months of 2020, the&nbsp;half-yearly profile of supply and development projects highlighted.

&quot;As the pipeline continues to expand, the aggregate size of the market is currently estimated to exceed $10 billion with an additional $3-5 billion in the pipeline currently under consideration or at various stages of due diligence&quot;, the reported noted.

The second half of the year saw the completion of&nbsp;Mirvac&rsquo;s&nbsp;Pavilions at Olympic Park&nbsp;in Sydney and Lateral Estate&rsquo;s first stage in Green Square.

[smartcode_project:default project_id=7363]

Queensland also increased its share of the pipeline with new large scale schemes announced by Frasers and Mirvac following Gold Coast&rsquo;s lead which already has a number of BTR projects.

Melbourne remains the top investment destination geographically, due&nbsp;to its more accessible and affordable market for site acquisitions.&nbsp;Investors continue to pursue Sydney opportunities as Australia&rsquo;s premier gateway city.

&quot;We expect the momentum to be maintained with more projects announced as developers work through a pipeline of several thousand units currently under due diligence and taking advantage of recent tax reforms enacted in NSW and Victoria.

&quot;The effects of COVID-19, while having had a significant impact across the economy, appear not to have derailed many groups&rsquo; plans.

&quot;On the contrary, it may have stimulated further interest for BTR both from developers as well as investors, some of which are recording relative outperformance of BTR assets in their global portfolios.&quot;

[smartcode_project_cta: project_id=7363]

Melbourne remains the top investment destination geographically, due to its more accessible and affordable market for site acquisitions



Mirvac and Frasers drive soaring 2020 Build-to-Rent pipeline

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MAKE, the parent company to the property development firm Assemble, has spent $30 million on its third site in Kensington, which they will develop in to a build to rent community with over 400 apartments dedicated to affordable housing.

Some 20 per cent of the building will be committed to social housing delivered in partnership with a community housing provider.

Kerstin Thompson Architects and Hayball are currently preparing designs to lodge to the local council.

The project will span four buildings, with Assemble committing one of the buildings to Cross Laminated Timber construction, as it continues to focus on reduction in embodied carbon across its projects.

The purchase of 402 Macaulay Road means Assemble are now developing 650 dwellings in the Kensington area, collectively valued in excess of $500 million.

They own the neighbouring 393 Macauley Road (below), and 15 Thompson Street, which are both currently either in their demolition phase or under construction.

<img alt="" height="1091" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/assemble_kensington.jpg" width="1200">

These two buildings are being delivered under Assemble's ‘rent-with-the-option-to-buy’ model. 

Assemble managing director Kris Daff said that MAKE will continue to privately acquire well located development properties which can then be made available to its institutional investment partners under its housing mandates, once those acquisitions are appropriately out of risk.

“We have been executing our strategy over the past five years of a growth-centric approach," Daff said.

"As a result of such a large, committed pipeline of projects, we continue to attract the attention of key institutional players and construction partners that value our commitment to build to rent, particularly focused on households with essential worker incomes and below.”
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The purchase of 402 Macaulay Road means Assemble are now developing 650 dwellings in the Kensington area, collectively valued in excess of $500 million.



Melbourne's Kensington set for new build-to-rent community from Assemble

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The Melbourne developer GURNER and fund manager Qualitas have announced a partnership to enter the multi-family housing sector.
They will soon launch of capital raising for a dedicated build-to-rent fund with three seed projects in the works with total value of over $1 billion and 1,200 plus apartments.
GURNER and Qualitas aim to become the largest multi-family housing players over the next one to two years.
In September Gurner announced a strategic agreement with the private real estate financier for an equity allocation of up to $150 million on residential apartment projects.
Gurner's decision to partner with Qualities comes six months after Tim Gurner labelled the emerging sector a "stupid model" and warned that institutional investors like Blackstone and Greystar would wipe out mum-and-dad investors.
However he has since qualified the comments that came in a spat with Melbourne Lord Mayor Sally Capp who'd suggested that BTR was a great way of delivering affordable housing.
Gurner maintains the asset class was about delivering a premium product and compelling returns to investors.
He told The Australian Financial Review a significant reduction in apartment supply, falling interest rates, and land tax breaks and incentives introduced in NSW and Victoria this year specifically would make returns "very attractive".
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