Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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]

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

Build to Rent

<html><body>
It is critical that government and industry continued to work together to ensure build-to-rent schemes could become more feasible to help address the current housing affordability issues facing so many Australians.
Build-to-rent is popular overseas in countries like the Unites States, but is still in its early stages in Australia.
As a major investor in affordable housing First State Super wants to expand our investments in this sector and see the barriers removed to make way for the market to grow.
Growth in this sector is not as financially viable in Australia as it is internationally due to a number of challenges presented by the Australian financial system with its current tax laws.
The build-to-rent sector in the United States was significant, largely made possible by the financial system in the US – particularly the banking and debt systems and urged for greater tax incentives in Australia, including GST reform and a reduction in stamp duty.
Additional changes to policy to make build-to-rent more attractive in Australia were needed including reductions to land tax as well as additional concessions for density requirements under planning laws.
In order for build-to-rent projects to be successful there needs to be a reduction in land tax and more release of State and Federal land available for development. The Australian landscape has proven to be difficult with a higher cost of land holding it back compared to some overseas markets.
First State Super welcomed the NSW Government’s recent announcement that it would cut land tax for the next 20 years for new build-to-rent housing projects and would give a 50 per cent discount on land tax to developers who invested in build-to-rent schemes. Additional schemes for build-to-rent housing projects would be welcomed to allow for more investment in this space.
Now is the opportunity for governments, industry and investors to work together and respond to these challenging issues and allow for more investment opportunities of scale in affordable housing and build-to-rent developments.
First State Super has commenced its first ‘build to rent’ affordable housing project in New South Wales and is interested in expanding its investments across Australia, in addition to other affordable housing initiatives.
Over the past 12 months First State Super has invested $250 million in key worker affordable housing initiatives in NSW and Victoria; one of the largest commitments of this kind of any Australian super fund.
These key worker affordable housing investments have seen hundreds of new or renovated apartments and units rented to nurses, teachers, police, paramedics, aged and disability support workers and other key workers at 80 per cent of the market rate.
We know that for many key workers finding safe, secure quality housing near their workplace is a challenge. These investments support key workers to secure affordable rental accommodation close to work and other important amenities.
However, they also support our crucial construction sector to maintain jobs and move forward with important projects despite the economic uncertainty.
First State Super will be making further announcements regarding additional investments in affordable housing shortly and has committed to increase that investment to $400 million this year.
There is a real opportunity for investors like us to collaborate with government to respond to the significant issue of housing affordability, to help support future housing needs across the country, provide a welcome boost to construction and to support jobs.
DAMIEN GRAHAM is the First State Super Chief Investment Officer 
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j.ballantyne1990-6AQqhLzZaK

Build-to-rent is a key element of housing affordability going forward: Damian Graham

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Sydney-based developer, Coronation Property Co, has announced the acquisition of its latest western Sydney site in Merrylands Court, Merrylands.
Situated at 52-54 McFarlane Street, the 12,418 sqm site sits in the heart of the Merrylands town centre, adjacent to one of Stockland’s top-performing shopping centres.
Acquired from Stockland for $41 million, the site is currently DA-approved for the construction of five high-density towers that will comprise 562 residential apartments, as well as approximately 4,500 sqm of ground level retail and basement parking.
Pictured above is a render of the previous owner's plans for the Merryland site (Source: <a href="https://www.commercialrealestate.com.au/news/sydney-developer-coronation-property-plans-build-to-rent-project-following-41-million-merrylands-purchase-920972/">https://www.commercialrealestate.com.au</a>).
Following the DA approval, the Merrylands Town Centre planning controls have been amended and as such Coronation is also exploring increased yield at the site, says Managing Director, Joseph Nahas.
“Our goal is to deliver a mixed-use precinct with a combination of build-to-rent and build-to-sell apartments, as well as a bustling new retail offering for the community that will include a gym, supermarket and a wide variety of food and beverage vendors,” said Managing Director, Joseph Nahas
On the topic of build-to-rent, Mr Nahas says Coronation Property is backing the concept to succeed in Australia, adding that he saw the site as a "seed investment" for their build-to-rent business.
Coronation aim to deliver 5,000 apartments over the next seven years and play a leading roles in built-to-rent for Australia.
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Coronation Property acquire $41 million Merrylands residential site

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GUEST OBSERVATION
PowerHousing Australia today welcomes the announcement of tax breaks for institutional investors into build-to-rent if the ALP wins the upcoming Federal Election in May.
The Managed Investment Trust withholding tax rate would be cut from 30% to 15% on tax distributions attributable to investments in BTR.
The announcement today of decreased tax rates for institutional investors if focused on affordable housing will see greater investment into the development of build-to-rent properties as part of a burgeoning new domestic asset investment class.
Build-to-rent is already established in the US where it is known as multifamily housing, and its great success has been followed through in the UK.
With house prices still out of reach to many Australians, increased investment into this emerging asset class will see more rental stock available to the market.
PowerHousing Australia met in the past year with the key pension funds, financial and affordable housing providers as well as intermediaries in San Francisco, New York and Washington and the runs are on the board for the past 30 years.
Build to Rent in the U.S supplies up to 10% of all residential housing delivery per year, and is a safe, government backed investment class which has the lowest volatility in a down turn such as the Great Recession which decimated the US housing market a decade ago.
This election announcement follows the recent announcement of the ALP’s NRAS type 10-year scheme which will subsidise investment into new affordable housing and aims to deliver a quarter of a million new dwellings in areas of need.
With each monthly Building Approvals update we see the Australian new home delivery pipeline fall away. Incentivsation through an NRAS 2.0 as promised and this MIT measure would reduce the potential for new housing delivery rates to collapse with rental prices increase to impact affordability.
The increased federal focus on tackling the housing crisis will go a long way to addressing the shortfall in affordable and appropriate housing across the country, and ensure more Australians can be adequately and fairly housed.
Nicholas Proud is CEO of PowerHousing Australia, which represents Tier One and scale-growth community housing providers.
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jonathanchancellor-7SQnKwU6yx

Build-to-rent backing will boost building approvals: Nicholas Proud 

<html><body>
EXPERT OBSERVATION
The announcement by the Federal Labor Party of their support for a build-to-rent model through tax relief is good news.
There is a big swing to rental accommodation in Australian cities, but tenants are unable to have long term security of tenure.
In America and Britain long term rental is available through build-to-rent models, but this approach has not worked in Australia due to excessive taxes.
The announcement by the Federal Labor Party that they will cut the managed investment trust withholding rate in half would make build-to-rent economically viable.
The build-to-rent model works with apartment precincts that have shared amenities where residents can have a comfortable lifestyle while having the security of tenure in their own rental home.
It is likely that the larger developers of apartments will be encouraged to move into this new long term rental market.
Hopefully the current Federal Government will also support tax incentives to encourage a swing to long term rental across Australia’s cities.
There are 2.7 million renters of homes across Australia. Urban areas in Sydney have very high percentages of renters with Parramatta having 70%, Surry Hills 64% and Newtown 62%.
It is clear that younger people in particular, are swinging towards rental accommodation in bustling inner city urban areas where they are close to amenities and work.
With housing approvals dropping fast in Australian cities the industry will need a stimulus to boost housing supply. A viable build-to-rent approach will encourage the development of more homes across the country.
The Urban Taskforce is a strong supporter of Australia having a viable long term rental approach.
It is clear that many millennials now prefer an urban lifestyle, and many prefer this to be through a rental model in apartments.
This is clearly a different lifestyle to the suburban home and it needs to be supported as part of our diverse approach to how Australians want to live.
CHRIS JOHNSON is the Urban Taskforce CEO.
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cjohnson-8xfqfuuCSq

Labor's build-to-rent support is good news: Chris Johnson

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The NSW Government has announced the shortlisted consortia seeking the contract to build Australia’s first social, affordable and private Build-to-Rent development.
There are three consortia set to tender for the opportunity to deliver around 500 new homes under this innovative new Communities Plus model.
They are:
<ul>
<li>·         a John Laing-led consortium including Compass Housing Services</li>
<li>·         Frasers Property and Hume Community Housing Association</li>
<li>·         Capella Capital, Lendlease Building and Evolve Housing</li>
</ul>
The departing Minister for Social Housing Pru Goward said there had been a strong market response to the Build- to-Rent project where the project will be built on state government land and after 40 years rental stream reverts to the government.
“The overwhelmingly strong response from the expressions of interest process tells us that Build-to-Rent will become an integral part of the Government’s social and affordable housing building program," she said.
“Build-to-Rent will bridge the housing gap in a market where more people than ever before are renting.”
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
Around 70 per cent of the property will be build-to-rent units while the others will be affordable and social housing.
Communities Plus is the largest social and affordable housing initiative in Australia, delivering up to 23,500 new and replacement social and affordable houses over 10 years. 
The NSW Government will announce the successful proponent in the third quarter of 2019.
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NSW Government shortlists three consortia for Redfern build-to-rent development

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Earlier this month, <a href="/news/victorian-government-paves-the-way-for-build-to-rent">Urban.com.au reported</a> on the Victorian State Government's endorsement of Grocon's 60-storey Build-to-Rent development on City Road in Southbank.  Planning Minister, Richard Wynne endorsed the Bates Smart-designed proposal of 400-apartments, noting that barriers have been removed to pave the way for this new asset class that offers Melburnians a quality yet affordable housing option.

<blockquote>
New ideas often take a while to navigate the planning system. These actions will ensure that build-to-rent can prosper and increase the stock of rental housing to meet the current record demand.

- Richard Wynne, Minister for Planning
</blockquote>

According to Bates Smart, the design of the Southbank development has "been distilled from the best offerings noted from significant field research locally and abroad including a study tour of the US, conducted in March 2018, where representatives from Bates Smart visited 18 properties across New York, Boston and San Francisco." 

Apartments.com.au spoke to Bates Smart Director Julian Anderson about the research has undertaken on the Build-to-Rent model and the office's work in designing Melbourne's first BTR project on 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/42681628932_f8e15a5799_h.jpg" rel="gallery-all" title="The site which has now been cleared. Image: Ryan Seychell"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/42681628932_f8e15a5799_h.jpg?itok=lAQOrj0v" title="The site which has now been cleared. Image: Ryan Seychell" width="580"></a>

<figcaption>The site which has now been cleared. Image: Ryan Seychell</figcaption></figure>Apartments.com.au: What are some of the barriers to successfully adopting the Build-to-rent model in Australia?

Julian Anderson: The main barrier in Australia at the moment is the challenging tax environment. Assuming the tax regime is modified, there shouldn’t be any other obstacles to its success. In Europe and the US, millennials are choosing to live in these developments because of the lifestyle it supports and like Australia, home ownership is becoming increasingly difficult because of rising costs and supply constraints.

The Treasurer, Tim Pallas has commented that: “Encouraging BTR will increase the supply of new, large-scale housing for longer-term renting.” There have been barriers for residents in terms of choice in the rental market and build-to-rent offers Australians a genuine alternative for occupants to create and maintain the lifestyle they want and continue live in the CBD with access to the best in transport, work, retail and lifestyle activity.

There are some negative connotations associated with the US build-to-rent model where it is perceived as creating an elitist environment. This did not appear to be the case during our team’s study tour of the US build-to-rent model in 2017 where we visited 18 projects. We experienced first-hand how the US model encourages and promotes a diverse community and caters to varying lifestyle needs, while offering a more secure housing solution.

U: How can the build-to-rent model address the challenges associated with housing affordability and population growth?

JA: Residential development in Melbourne and the CBD periphery is relatively stagnant due to lending controls tightening for both foreign and local developers and purchasers. With Melbourne’s population scheduled to double to 8 million within the next 20 years, making it the size of London today, we will need to cater to this huge population growth. One way to do that is via the introduction of this build-to-rent typology. The success of these projects is not constrained by purchasers’ willingness or ability to buy, rather, it is driven by a demand in Melbourne that is growing exponentially.

Affordability and build-to-rent don’t necessarily go hand-in-hand and we need to continue to look at international models to establish an appropriate affordable housing provision in this country. This is as much an issue for ‘build-to-sell’ apartment developments as it is for ‘build-to-rent.’

How did you approach the design of City Road compared to say one of the luxury projects Bates Smart have designed on Spring Street?

JA: As with all of our projects, we start by developing a brief with the client. This was undertaken on this project during a study tour of the US, during which we surveyed 18 build-to-rent properties across New York, Boston and San Francisco. The newer properties contained significant amounts of amenity space, and most interestingly, the provision of areas within the building enabling flexible working. For example, in several build-to-rent properties in the US we saw residents running their small businesses from their laptop using the work lounge spaces provided within the development, rather than running it from out of their apartment.

So while the brief is different, the design process is very similar. We’ll ask ourselves questions like how does the building need to respond to its local context, how do we maximise access to light and views, how are the amenity spaces arranged and distributed to maximise benefits for the residents and how do people want to live in the 21st century? It’s then up to the client working with us to determine what level of luxury they’re seeking to introduce into the project. It’s about creating the best environment in which people can live and enjoy the lifestyle offerings.

<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/home_southbank_bs.jpg" rel="gallery-all" title="The 60-storey BTR project on Southbank. Image: Bates Smart"><img alt="" class="image-article-full-width-580px" height="725" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/home_southbank_bs.jpg?itok=AH7N36Ll" title="The 60-storey BTR project on Southbank. Image: Bates Smart" width="580"></a>

<figcaption>The 60-storey BTR project on Southbank. Image: Bates Smart</figcaption></figure>U: How was the City Road project conceived? What were some of the key drivers behind the design?

JA: Our client recognised the scale and importance of the build-to-rent market in the US as well as its global appeal and saw the opportunity that existed in Melbourne, particularly with the likely demand in the next 20 years. There was also a recognition that the existing rental market in Australia lacked the sort of security of tenure, consistent quality and services that were on offer in the US.

Travelling with the client and constantly talking about design and the project allowed us to very quickly agree on many aspects of the design. We saw how other buildings had dealt with similar challenges we were facing in our local context including how to deal with proximity to our neighbours, a material palette that responds to former industrial neighbourhoods and height. Constantly debating and discussing design over this two-week period sped the design process up so that upon return, we mapped out a very clear design direction for us to pursue.

We were very interested in creating a building that responds to the building’s local context, so the use of the brick in the podium is about relating to the large number of brick warehouses that used to exist in this area. We also see brick as having that tactile quality that creates a physical connection between the residents and the building. This materiality makes the building more inviting.

The facade approach is ordered and calm relative to many of the nearby buildings. We wanted to create a building that in its tower form was different to many neighbouring developments in Southbank. There are so many projects in this area that are trying to stand apart and make a statement, so we focused on creating an elegant and sophisticated building. There is a sense of repose and calm in this project.

U: The City Rd project is 60-storeys tall - is there an ideal size for delivering the build-to-rent model? Or is it easily scaleable?

JA: It’s relatively straight forward to scale up or down in design terms. In the US there is a bit of an amenity arms race occurring. We saw developments of over 1,000 apartments that have up to 8,000 to 10,000sqm of amenity space including full size basketball courts and commercially scaled gyms. In the US and in particular San Francisco, we saw smaller scale developments of under 100 apartments which were as successful as their larger counterparts, so I can see no obstacles to this being introduced at a smaller scale in Australia.

One of the key components of these types of developments is the ability to build a community in a way that is quite different to what occurs in a build-to-sell development. Strong communities were created, with very engaged residents, particularly in the smaller scale developments when compared with those that we saw that contained over 1,000 apartments.

U: Do you expect to see a development that comprises a mix of BTR and apartments for private sale in the future? 695 LaTrobe for example would feature a mix of BTR and hotel suties.

JA: Yes I think if you look to other world cities of Melbourne’s size, and appreciating our future population growth in the next 20 years, you’re seeing more and more mixed use-type developments located within proximity to public transport. We need to continue to cater to increased population densities in and around these transport nodes. For the ongoing success of Melbourne and the continued creation of walkable cities, we need to provide this rich mix of spaces where people can work, live and play.

There is also an opportunity as the build-to-rent market matures in Australia to create more blended living and working environments. As people’s ability work to more flexibly and remotely increases, our buildings need to be designed to suit the changing working environment. This hasn’t happened yet so it’s a good opportunity for architects and developers to explore more creative and interesting design solutions. I’d like to think that build-to-rent could be the catalyst that allows further exploration of these more blended mixed-use environments.
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Laurence Dragomir

Bates Smart's Julian Anderson discusses Build-to-Rent

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The Victorian Government has come out in support of the Build-to-Rent (BTR) model in an effort to improve access, choice and quality for tenants while also providing greater rental tenancy lengths. The Build-to-Rent model involves building properties to rent instead of selling them to individual buyers with the aim of can providing high quality and well maintained rental stock to renters.

The BTR announcement follows hot on the heels of the Government’s recent changes to the Residential Tenancies Act which seeks to ensure renting becomes "fairer for Victorians". The model has been established for quite some time overseas but is very much an emerging sector in Australia.

The development industry has identified some barriers to the delivery of BTR. In response the Government will facilitate planning assessment, establish an industry working group, financially support BTR in community housing, clarify taxation arrangements, and lobby the federal government to make it easier to realise BTR in Australia.

Mlbourne-based developer Grocon recently obtained approval for Victoria's first BTR development - a 60-storey apartment building at 260 City Rd, Southbank designed by Bates Smart. This revised scheme replaces a previous approval for a 62-storey residential development first designed by Hayball for Apex Vic, before being sold to Altus Developments who engaged Moull Murray architects to revised conceive a revised scheme known as Monarch Tower. 

<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/grocon_city_rd.png" rel="gallery-all" title="Grocon has received approval for a 60-storey purpose built tower. Image: Grocon"><img alt="" class="image-article-full-width-580px" height="728" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/grocon_city_rd.png?itok=tpHeggUe" title="Grocon has received approval for a 60-storey purpose built tower. Image: Grocon" width="580"></a>

<figcaption>Grocon has received approval for a 60-storey purpose built tower. Image: Grocon</figcaption></figure><blockquote>
Grocon is pleased to announce it has secured planning approval for Australia’s first purpose designed and developed Build to Rent in Southbank Melbourne which will include 400 apartments over 60 levels.  Grocon is proud to have collaborated with Bates Smart, the Department of Environment, Water, Land and Planning (DEWLP) and City of Melbourne for this exciting project.

- Grocon
</blockquote>

With the support of the Victorian Government, Salta might finally progress plans for its development site at 695-699 LaTrobe Street on the Docklands waterfront. Having already secured InterContinental Hotel Group (IHG) to operate a five-star Indigo-branded hotel of 170 rooms, the balance of the development will comprise 260 BTR apartments.

To be known as Hotel Indigo Melbourne Docklands the curved tower has been designed by Fender Katsalidis to reflect its harbourside location, with completion forecast for 2020.

According to the Victorian Government, a host of other development applications will be assessed via a fast tracked approval process. 

<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/695-latrobe-indigo.jpg" rel="gallery-all" title="Salta's Docklands project will include 260 BTR apartments. Images: Fender Katsalidis"><img alt="" class="image-article-full-width-580px" height="246" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/695-latrobe-indigo.jpg?itok=FO1mL8LE" title="Salta's Docklands project will include 260 BTR apartments. Images: Fender Katsalidis" width="580"></a>

<figcaption>Salta's Docklands project will include 260 BTR apartments. Images: Fender Katsalidis</figcaption></figure><h2>What they say</h2>

<blockquote>
Encouraging BTR will increase the supply of new, large-scale housing for longer-term renting. It can grow our stock of affordable and social housing, expanding housing choices for Victorians.” “Victoria is leading the way in supporting Build-to-Rent. We’ll keep listening for new ideas through our new industry working group.

- Tim Pallas, Treasurer
</blockquote>

<blockquote>
New ideas often take a while to navigate the planning system. These actions will ensure that BTR can prosper and increase the stock of rental housing to meet the current record demand.

- Richard Wynne, Minister for Planning
</blockquote>

<blockquote>
The Victorian Government’s support for build to rent is best in class and a welcome first step in creating a sector that will deliver high quality rental accommodation and provide greater security of tenure for Victorians. We congratulate the Government on its willingness to work with industry to address these challenges.

- Cressida Wall, Executive Director, Property Council Victorian of Australia
</blockquote>

 
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Victorian Government paves the way for Build to Rent

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<div>
The Hannah's Pies site in Ultimo has been sold for about $20 million.
The site, next to the Powerhouse Museum at 562-576 Harris Street, was sold with a leaseback to the pie shop. 
</div>
<div>
It was sold to Caper Property which owns two sites, both in inner-west Sydney. 
They are the Bald Face Stag Hotel and One Camperdown, Fairfax Media has reported.
Caper Property, which is seeking to capitalise in the build-to-rent and co-living sectors, is led by Chrsytan Paul formerly with boutique investment firm Aura Capital.
</div>
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Hannah's Pies, Ultimo site sold to Caper Property

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Renters want stability and security of tenure for the same reasons property owners do. 
They seek a stable location that enables the household to stay connected with their family, friends, schools, jobs and community. 
Moving frequently is also inconvenient and expensive, so the ongoing threat of not having leases renewed leaves renters, especially low-income renters, vulnerable. 
There is now a new concept that aims to alleviate some of the issues. 
Build to rent is where investors build multi-unit buildings and, instead of selling the units, they are retained to rent. 
Build to rent is well established in the UK and USA, but never really taken up in Australia by large scale investors.
Indeed rental housing supply has been primarily come from individuals rather than or large investors or even government in Australia. It's been mostly left to mum and dad investors. 
There have been very few large scale investors with the capacity or preparedness to take it on. Certainly Harry Triguboff leads the way given the many apartments he has kept in his private portfolio. While such apartment developments increase rental supply, they do not target lower income households. 
Unlike many European countries where public/social housing is a major component of the housing profile, social housing has never exceeded more than six percent of Australia’s housing stock. 
An Australian Housing and Urban Research Institute study indicated big Australian investor institutions had no experience of large scale investment in rental housing in to judge Australian outcomes. Untried investment niches normally require a pioneering investor and a novelty premium on the rate of return. 
The recent announcement by NSW Minister for Social Housing, Pru Goward of a project in Redfern provides such a positive start towards the aim of providing a more diverse supply of housing for Sydney. The site will accommodate social, affordable and market rental housing on land provided by the NSW government.
The government to retain the land while investors, in partnership with community housing providers will fund, build and manage the site under a 40 year lease.
The Elizabeth Street site, which includes the Police Citizens Youth Club premises, will be exempt from land tax. It’s expected 500 dwellings will be built with 30 per cent earmarked for affordable housing.
The Property Council NSW executive director Jane Fitzgerald said the government has put its money where its mouth is. “They’re not only giving the land but also giving a full land tax exemption for the project which should really make a difference for making the financials stack up,” Ms Fitzgerald said.
One of the key reasons for Australia's slow embrace has been the perceived low returns. High property management costs are another barrier, coupled by the illiquidity that comes with all property assets.   
There also remains a perceived high risk, of public policy changes. Unlike commercial property, the current GST rules won't help the roll out of build-to-rent.
That's something for Treasurer Scott Morrison to address. The shadow treasurer Chris Bowen has sought a parliamentary review as it "would be a shame to see this sector get killed by policy."
This article first appeared in The Daily Telegraph.
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jchancellor-FAypfDUnLy

NSW State Government backed build to rent will offer renters stability

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Harry Triguboff, one of the country's biggest owners of rental apartments, has accused unspecified rival developers, but the likes of Lendlease, Mirvac and Stockland, of supporting build-to-rent housing because they were trying to drum up capital at a time of harder access to funds.
Triguboff owns a portfolio of more than 4000 apartments that he rents out.
He suggested the current build-to-rent drive was pushed by his rivals.
"They want… a tax break," Meriton boss Mr Triguboff told The Australian Financial Review, though not naming them directly in the article.
"But the interesting thing is, it's not the people with the money talking.
"It's the snorers that have no money to build."
Housing built for long-term rent to middle-income households has yet to become established in Australia because tax concessions for investment in residential housing are not available to institutions in the way they are to mum-and-dad investors and low yields on residential property do not make it viable.
Last year, Treasurer Scott Morrison ruled out the use of managed investment trusts, a vehicle that pays a low 15 per cent withholding tax, for at-market residential property, saying they had to be limited to the purpose of affordable, or key-worker, housing.
The shadow treasurer Chris Bowen last month signalled he would reconsider the issue.
But Mr Triguboff, who subsidises his own rental portfolio with profit from his development projects in Sydney, Brisbane and Gold Coast, questioned whether foreign institutions were interested in Australian build-to-rent as an asset class.
"I'm critical of people talking about it without naming who are the people that will invest," he said in an interview with the Financial Review.
"I don't think they have people that will invest. I think what they are trying to do is sell the idea to Morrison, then they will run around and get somebody. That's how it appears."
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