National developer Time &amp; Place appears to have settled on a design for its long-anticipated Potts Point project.

After several years of back and forth with local council and the NSW Government, the developer, which has spent close to a decade targeting the former The Chimes site on Macleay Street, has now progressed its plans.

Following a concept design submission last year by SJB, Time &amp; Place has lodged a full State Significant Development Application with the NSW Government, this time for a scheme designed by Kerry Hill Architects.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="504d2a27-d65f-4227-8189-1e35e3376e62" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.38.24%E2%80%AFAM.png?VersionId=_XqFKATYHF30KnVByPxhaI9UBzmkmfn7" />

The 16-storey proposal includes 44 apartments, 21 of which will be build-to-sell. These will comprise 19 three-bedroom apartments and two four-bedroom penthouses.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 one- and two-bedroom apartments delivered in line with the NSW Government’s Housing SEPP.

Kerry Hill Architects said the proposal is driven by a strong response to place.

“Our proposal for a new residential building for Potts Point in Sydney is driven by a deep consideration of place,” the practice said in its submission.

“This operates on multiple levels, including a landscape approach that reinstates endemic flora of the Sydney peninsula and provides a ground-floor garden for residents, reconnecting the site to its pre-European history. A brick podium further strengthens this relationship to context, integrating planting and fine bronze detailing that references the predominant material language of Macleay Street.”

The three-level podium will be topped by a communal resident space, featuring a covered pool designed to receive direct afternoon sun in winter, a neighbouring reflection pool, dining and event areas oriented to maximise sunset views, and an outdoor exercise zone.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="8d3eedc1-babb-44a3-bd96-d8a42f3adf1f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.37.48%E2%80%AFAM.png?VersionId=Ii7.4dvqNatu5GQi6bhqNjAswrMB998." />

The design also incorporates highly crafted shopfronts and a clearly defined residential entry to activate the street. Juliette balconies to the podium residences will provide passive surveillance and a strong sense of habitation.

Above, the larger apartments are housed within a light-coloured masonry and bronze tower.

“The tower steps back in a series of gently curved volumes that reference the rich Art Deco context of Macleay Street,” the architects said. “Carefully calibrated vertical fins frame the views while providing privacy and a sense of refuge.”

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="6fab60f4-3140-4469-b47a-48c781e0a30b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.28.44%E2%80%AFAM.png?VersionId=e5XxrM3kzdASdKlcIACHAHbOSZhSKC9O" />

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in South Melbourne.

The developer has approval for The Burke, a mixed-use project in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;being delivered in partnership with Woolworths. The 60 apartments, positioned above a new Woolworths supermarket, are expected to launch in the coming months. Time &amp; Place is also progressing plans for the redevelopment of&nbsp;<a href="https://www.apartments.com.au/developments/northcote-vic-3070">Northcote</a>&nbsp;Plaza, and have recently submitted plans for a <a href="https://www.apartments.com.au/news/vic/time-place-unveils-plans-22-storey-south-melbourne-tower">22-storey tower</a>, another in South Melbourne.

In&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw">Sydney</a>, the developer has two projects in Manly: Two Tides, which is currently under construction, and an ultra high-end building on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach. It is also continuing to work through the redevelopment of The Chimes building on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as Marlborough House, the redevelopment of the original David Jones warehouse building in&nbsp;<a href="https://www.apartments.com.au/developments/surry-hills-nsw-2010">Surry Hills</a>.

Joel Robinson

First look: Time & Place settles on design for The Chimes, Potts Point redevelopment

<a href="https://www.apartments.com.au/developers/develotek">Develotek</a> is joining the likes of TOGA, Deicorp, and One Global Capital, betting on a boom in Five Dock ahead of the 2032 mooted opening of the Five Dock Metro Station.

Develotek, which is currently developing Bianca on the Drummoyne waterfront and has plans approved for a tower in Chatswood, has filed a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/79-81-queens-road-five-dock-nsw-2046">two-building project in the evolving Kings Bay precinct</a>.

The buildings, one more boutique just five storeys and the other 26 storeys, will rise from an 3,158 sqm site across&nbsp;79–81 Queens Road and 2–8 Spencer Street, will home 134 one-, two-, and three-bedroom apartments, above ground-floor retail and five basement levels of parking.

A key component of the proposal is the inclusion of 15 per cent of residential floor space as in-fill affordable housing, unlocking additional height and density under the Housing SEPP.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="3ee31bf7-75ba-4bc5-b190-49885193219f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_2.png?VersionId=730UbrduuwK3C1sO28RHjiLPUPqXqjkh" />

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the scheme adopts a podium-and-tower configuration, with a five-storey street wall along Queens Road transitioning to a 26-storey tower set deeper into the site. The ground plane prioritises activation and permeability, with retail frontages and a new through-site link connecting Queens Road to Spencer Street.

At the upper levels, the tower façade has been conceived using a modular system to support prefabrication and reduce construction waste, while improving build efficiency. The splayed form draws on the geometry of surrounding industrial rooftops, reinterpreting the area’s heritage in a contemporary expression while also helping to reduce solar heat gain to east and west-facing apartments.

“This project aspires to transform a former industrial site into a connected, resilient and people-focused urban community, grounded in Country, shaped by history, and designed to enrich everyday life within the evolving Kings Bay Precinct,” said John Walsh, Principal at Plus Studio.

The proposal reflects the broader transformation of the Kings Bay Precinct under the Parramatta Road Corridor Urban Transformation Strategy, marking a shift from its industrial past to a higher-density, mixed-use urban neighbourhood.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="abde734c-1e31-4a97-a1d2-fa9bcf31c380" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/building%20podium.png?VersionId=fNUupP6u146yEytQT31kKVRxwtACgPpP" />

Develotek is emerging as an active participant in the state’s affordable housing-led uplift pathway. The developer recently secured approval for a 34-storey mixed-use tower in Chatswood, where it similarly leveraged the in-fill affordable housing provisions to increase scale and deliver a 101-unit scheme with dedicated affordable apartments.

Their entry into Five Dock places them alongside a growing list of developers targeting the suburb ahead of its anticipated transport uplift, with Sydney Metro set to extend into the area. Major players including TOGA, Deicorp, and One Global Capital are all progressing large-scale precinct-style developments nearby, collectively reshaping the low-rise industrial fabric into a higher-density mixed-use corridor.

The Five Dock site sits within the Kings Bay Precinct, a key renewal area under the Parramatta Road Corridor Urban Transformation Strategy, where planning controls support significant uplift tied to affordable housing delivery. The consolidated 3,158 sqm site is currently occupied by low-rise industrial uses, including warehouses and vehicle workshops, earmarked for transition.

First Look: Develotek joins in Five Dock apartment boom

Ascot’s Racecourse Road continues to be a hive of activity for Brisbane developers.

Following Fortis and GRAYA, which are both preparing new projects along the key strip connecting Kingsford Smith Drive and Eagle Farm Racecourse, local developer <a href="https://www.apartments.com.au/developers/skyhold">Skyhold</a> is the latest to lodge plans for its own development.

The group is proposing One One Two Residences, a boutique project comprising just seven apartments, named after its address at 112 Racecourse Road.

The proposal outlines a five-storey building on an 810 sqm site. The built form slightly exceeds the four-storey expectation under the neighbourhood plan, aligning instead with the emerging character of the strip. As the planning report notes, “the locality is characterised by a transition toward medium-rise residential development, with a number of recent developments… above the stipulated height limits.”

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="ec577631-8c51-4163-960e-e7b3a77d655b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot.png?VersionId=iAzQ46D4Uu1UqiS0mVnlcy9jeFKBpJIj" />

Designed by 111 with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/paul-bangay-garden-design">Paul Bangay Studio</a>, the scheme adopts a layered architectural approach with strong articulation and a subtropical response. Deep balconies, integrated planters, and a mix of masonry and textured finishes define the façade, while upper-level setbacks reduce perceived bulk. The architectural statement describes “a series of horizontally expressed layers, defined by deep balconies and a consistent robust material palette,” aimed at delivering a refined streetscape presence.

Apartments are configured as large-format residences, including multiple three-bedroom layouts and a full-floor penthouse, supported by ground-level parking. A rooftop terrace will provide communal amenities including a pool and landscaped recreation areas. The design prioritises privacy, natural ventilation, and greenery, with planting integrated across all levels to soften the building form and contribute to the public realm.

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="1e1219bd-b45a-4d7f-bbc7-7207d7b2fc94" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot%20entry.png?VersionId=JIoUOLMgQ5xWpEF0etEI3ffIoIVjD7gO" />

The proposal sits within the Racecourse Road precinct, a key mixed-use spine in Ascot that continues to attract renewed development interest.

Later this year national developer Fortis will launch its own boutique development, which, pending council approvals, will be 16 apartments designed by Koichi Takada Architects, just down the street.

“Racecourse Road is going through a massive revitalisation and we’re proud to be a part of that transformation,” said Fortis's QLD General Manager, Dan Boman.

Nearby, GRAYA is advancing its larger-scale The Gallery, a mixed-use shop-top housing project designed to act as a “catalytic project for Racecourse Road.”

First Look: Racecourse Road, Hamilton revitalization to continue as Skyhold joins the party

Twenty-five years after launching one of Australia’s most visionary and successful masterplanned beach communities - Casuarina on the Northern NSW Tweed Coast - developer Consolidated Properties Group has unveiled plans for an $800 million sister project located 10 kilometres south, at Cudgera Creek near the coastal town of Pottsville.

CPG has taken the wraps off Caldera, a 78-hectare masterplanned village that builds on the legacy of Casuarina and aims to help address Northern NSW’s coastal housing shortage via the delivery of 550 homes built in a sustainable manner and addressing affordability and housing diversity, while also focusing on architectural and ecological merit.

Caldera is being brought to life by the same creative team that delivered Casuarina, led by Consolidated Properties CEO and chairman Don O’Rorke, Hutchinson Builders chairman Scott Hutchinson and renowned urban designer Brian Toyota, of architectural practice Bureau Proberts.

CPG has lodged a rezoning application with Tweed Shire Council for the Caldera site, which has been designated since 1991 as the Dunloe Park Urban Release Area, the final land release area within the Pottsville locality and one of only four remaining growth areas along the entire Tweed coastal strip. Preliminary plans for Caldera feature a 13-hectare retail and commercial precinct at the core of the village, surrounded by meticulously planned residential areas comprising around 550 homesites.

The retail hub will be anchored by a Coles Supermarket and will offer 7000 sqm of retail and 23 commercial lots designed to serve the local community and bring together curated shopping, dining, gym, wellness, childcare, medical and other essential services.

<img alt="Cons prop" data-entity-type="file" data-entity-uuid="fca7dc71-4b71-45b1-bb04-5a60bd7158d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%208.34.04%E2%80%AFAM.png?VersionId=vAKwIvLuwmTKj6blHJRYIEeXS_8lCgUx" />

The project will create more than 1500 jobs over its development cycle, according to its economic modelling, and significantly address the shortage of employment land in the Tweed.

The residential areas will encourage a sense of community via a cohesive urban design that encourages walking, cycling, enhanced resident connectivity and reduced reliance on cars via bike paths and pedestrian-friendly streets.

Homesites will include a range of options from premium ridge-top homes to affordable housing options, ensuring a community that is inclusive of different income levels and designed to appeal to a wide demographic from baby boomers to families, singles and professionals. Architectural and planting covenants on home building will support the village’s built form and protect its character.

O’Rorke says CPG intends Caldera to be a model project delivered efficiently in a dedicated urban release area and ‘very much for this region and for this time’.

“Our vision for Caldera is to create a modern coastal village with its own unique northern NSW identity,” he said.

“Building on our legacy of Casuarina, 25 years on, this new village is designed to stand apart, offering the future of modern living, balancing the natural beauty of the region with contemporary amenities and convenience.

“Caldera will be more than just a place to live - it will be a welcoming, inclusive coastal village neighbouring Pottsville that invites visitors and embraces new residents. With its strong ties to the land, vibrant lifestyle and sense of place, Caldera will set a new standard for village living in Northern NSW.”

<img alt="CPG" data-entity-type="file" data-entity-uuid="9a5a7cf4-5f76-4ddf-bd05-c8fb77d0a787" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%208.33.59%E2%80%AFAM.png?VersionId=J1CzCGD7kE7fcAMd41V4pKAf_sI4L5Jv" />

The project’s centrepiece is environmental sustainability, with comprehensive wetlands protection measures and planting of native trees, parklands, village greens and communal grounds to enhance the natural beauty of the area.

CPG will also deliver a developer-funded wastewater treatment plant to ensure zero ocean outflows and provide high quality long-term infrastructure for Tweed Shire.

A key focus is wildlife management planning, including extensive conservation controls for the West Pottsville koala population, aligned with Tweed Shire Council’s Koala Plan of Management and designed to enhance koala habitat connectivity and future population growth.

Caldera will extend the existing koala corridor by connecting koala precincts west of the Pacific Highway with populations in the north and east precincts. A koala underpass will be created under Pottsville Road to complete the connection of this important corridor. Native tree plantings will expand essential koala food sources, while approximately eight kilometres of exclusion fencing will be constructed to safeguard the koalas from urban threats.

The Caldera site is nestled in the hills of Cudgera Creek and benefits from its rich natural surroundings including the Pottsville Wetland, Cudgera Creek Nature Reserve and nearby Pottsville Beach.

It takes its name from the surrounding Tweed Shield Volcano and Caldera, the vast bowl-shaped depression stretching from Byron Bay to the Queensland border that 20 million years ago was the world’s largest shield volcano and which has shaped the region’s striking landscape, with Mount Warning standing as one of its most iconic features.

The development is a joint venture between CPG and Pottsville Development Corporation, which made its first investment in Pottsville more than 45 years ago and is the developer of Black Rocks By the Sea, a masterplanned community now part of the fabric of Pottsville and which was the catalyst for the construction of a bridge across the Pottsville Estuary, providing direct access to the beach.

CPG’s $1.5 billion Casuarina Beach township, 10 kilometres to the north of Caldera, commenced construction in 2000 and has become the model for modern Australian, eco-sensitive beachside development.

Consolidated Properties unveils $800m coastal village Caldera in Casuarina

Growing national developer Time &amp; Place has announced its fifth new apartment development.

With two projects in Manly and two upcoming in Surry Hills and Potts Point, the developer, which expanded beyond Melbourne just a few years ago, is now heading to Mosman. It is planning 53 new apartments on Redan Street.

The 3,233 sqm site, spanning <a href="https://www.apartments.com.au/new-apartments/40-48-redan-street-mosman-nsw-2088">40–48 Redan Street</a> with frontage to Redan Lane, is located just under 400 metres from Spit Junction Town Centre. It is reported the developer paid around $100 million for the five-site amalgamation.

Time &amp; Place, founded by Tim Price and backed by James Packer’s private investment firm NPACT, has submitted the project as a State Significant Development through the NSW Government’s Housing Delivery Authority pathway.

Of the 53 apartments, 42 will be released to the market, with the remaining 11 allocated as affordable housing in line with NSW Government requirements.

fjc Studio has designed the building. In its Design Report, the architect said the diverse mix of dwelling types and sizes, including 11 two-bedroom affordable housing units, 40 three-bedroom apartments, and two four-bedroom residences, will support a broad demographic, including families, downsizers, and key workers.

The development will rise to nine levels, a height encouraged by the NSW Government due to the site’s proximity to Spit Junction, which has been identified as a low- to mid-rise centre. Developments within a certain proximity to these centres are permitted increased height.

fjc said the project “achieves an appropriate density outcome for its setting by balancing increased housing supply with strong amenity performance,” adding that it “makes a measurable contribution to NSW housing supply targets through the delivery of additional dwellings and dedicated affordable housing.”

The new development will replace five existing two-storey homes.

“By aligning with the objectives of the Housing SEPP and applying careful architectural and urban design principles, the development provides high-quality residential accommodation that integrates sensitively within its established Mosman context and delivers enduring benefits to residents and the wider community.”

Mosman has become increasingly popular with developers in recent years.

Developer Abadeen has been particularly active, with Mosman Residences currently on the market and under construction on Clifford Street. It also has an upcoming Burran Avenue project, comprising just three apartments on the Balmoral Slopes, and recently secured the Midas and Honeysuckle nursery site on Military Road.

Prosker Property has a project on Redan Lane, just a few doors down from Time &amp; Place’s proposed development.

Developers including Toohey Miller, DARE Property Group, and WINIM also have projects underway in the area. In 2024, a five-year target was set for the Mosman LGA to increase housing supply by 500 dwellings by 2029.

Time &amp; Place entered the Sydney market with Two Tides, its under construction Manly development. Given its sales success, it has secured another development in the area, more boutique, facing the beach on North Steyne.

They are hoping to launch their redevelopment of The Chimes in Potts Point this year, and next year will look to take to market Marlborough House, an adaptive re-use of the landmark David Jones warehouse in Surry Hills.

Time & Place to take on Mosman apartment market

180 George is among Meriton&rsquo;s latest developments to be delivered in Sydney&rsquo;s western suburb of Parramatta.

From the elevated podium gardens and destination ground-level retail to the superbly appointed residences, 180 George&rsquo;s towering form announces the arrival of the most spectacular homes ever created on the city&rsquo;s prized river edge.

Urban has taken a deeper look at what 180 George can offer homebuyers.

1. Riverfront address

[smartcode_project:default project_id=8590 project_image_fid=71711]

Soaring to unprecedented heights, 180 George will set a new standard of riverfront living in Parramatta.

Rising 67 floors, the glass tower is set to become the tallest residential building in Parramatta after its completion in December 2021, offering panoramic views from almost every apartment.

552 landmark residences look out over Parramatta River to the Sydney CBD skyline and beyond, marking a new statement building in the epicentre of Western Sydney.

2. World-class development

[smartcode_project:default project_id=8590 project_image_fid=71718]

Delivered by Meriton, 180 George is a world-class development, offering five-star amenities that include a 1,000sqm supermarket, a 75-place childcare centre and an adjoining 58-level hotel tower.

Other facilities include 1,200sqm of podium gardens, a barbeque area, seating, a fully-equipped gymnasium and an indoor aquatic centre with a heated pool, spa and sauna.

3. Luxurious homes

[smartcode_project:default project_id=8590 project_image_fid=71712]

Investors and owner-occupiers will both enjoy the diverse selection of oversized apartments on offer at 180 George, each designed to capture the best of their riverside and CBD setting.

Designed by Woods Bagot, residences are characterised by contemporary design, luxury finishes and plentiful storage.

Dual-level and dual aspect apartments are available, many with large entertainer terraces, media rooms and study rooms with bedroom-sized proportions for those seeking versatile extra space.

Sleek kitchens, some taking in the tower&rsquo;s signature views, are created around easy entertaining and modern family life, with premium quality European appliances, integrated dishwasher and VENINI microwave.

4. Sydney&rsquo;s second CBD

[smartcode_project:default project_id=8590 project_image_fid=71722]

&ldquo;Parramatta is rapidly transforming into a buzzing metropolitan hub with over 175,000 working professionals making it Sydney&rsquo;s second CBD&rdquo;, the project marketing reads.

180 George is conveniently located at the centre of it all, just a small walk from the $2 billion Parramatta Square redevelopment which will boast the country&rsquo;s largest office tower. It will house major tenants such as National Australia Bank and the NSW Government.

The key economic and cultural hub includes great community offerings, including the first vertical high school rising 16 storeys and the mixed-use Parramatta Square precinct.

5. Well-connected and well-serviced

[smartcode_project:default project_id=8590 project_image_fid=71721]

Meriton&rsquo;s latest Parramatta tower enjoys convenient access to some of Australia&rsquo;s best educational and medical facilities.

Among these include the Western Sydney University Parramatta campus, the University of New England, Tara Anglican School for Girls and The King&#39;s School.

A short drive to the Westmead precinct unlocks one of the largest health, education, research and training precincts in Australia including four major hospitals, three medical research institutes and the largest research-intensive pathology service in the state.

Parramatta boasts a range of transport offerings, including the free shuttle bus service, the upgraded Parramatta Ferry Wharf, a future Light Rail stop, Parramatta Station the new multi-billion dollar transport networks including WestConnex and the new Metro West.

[smartcode_project_cta: project_id=8590]

Urban has taken a deeper look at what 180 George can offer homebuyers

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Five things we love about Meriton’s latest residential tower in Parramatta, 180 George

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EXPERT OBSERVER
In my <a href="https://theconversation.com/re-imagining-sydney-with-3-cbds-how-far-off-is-a-parramatta-cbd-102197">article</a> yesterday showing how far Greater Parramatta is from hosting one of <a href="https://www.greater.sydney/metropolis-of-three-cities">three metropolitan CBDs proposed</a> by the Greater Sydney Commission, the verdict was clear:
The Sydney metropolis has a very long and bumpy way to go before we can re-imagine it with more than one CBD. Visionary and bold decision-making, supported by significant investment, is required for the Central City to transition to a metropolitan centre.
Today, I introduce a bold proposal to build a Central CBD for metropolitan Sydney, as a real complement to the City of Sydney CBD to the east.
<a href="https://images.theconversation.com/files/240968/original/file-20181017-17668-17wqj4q.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240968/original/file-20181017-17668-17wqj4q.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Figure 2: An overview of Central City 2048. Image: Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal, Kun Fan, Author provided
Central City 2048 is a 30-year strategic plan, which builds on the Greater Sydney Commission’s <a href="https://www.greater.sydney/metropolis-of-three-cities">Greater Sydney Region Plan</a>. Central City 2048 presents a vision for a dynamic, connected and sustainable CBD at the heart of the Greater Sydney metropolitan region.
Employment, transport and housing targets to be achieved by Central City 2048 are listed in Table 1.
<a href="https://images.theconversation.com/files/240970/original/file-20181017-17686-1it5pst.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240970/original/file-20181017-17686-1it5pst.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<h2>Economy</h2>
<a href="https://images.theconversation.com/files/240971/original/file-20181017-17671-12ph3dt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240971/original/file-20181017-17671-12ph3dt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Figure 3. Key economic actions – Central City 2048. Image: Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal, Kun Fan, Author provided
Central City’s economy is supported by two pillars: Parramatta CBD and the Westmead health and education precinct. There is a key strategic challenge to attract finance, tech, education and creative industries, while supporting existing health and government sectors. Essential to economic growth is the provision of dedicated commercial and retail floor space, and regional access to it.
<a href="https://images.theconversation.com/files/240972/original/file-20181017-17692-tb2iz3.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240972/original/file-20181017-17692-tb2iz3.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<h2>Connectivity</h2>
<a href="https://images.theconversation.com/files/240973/original/file-20181017-17674-184qprn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240973/original/file-20181017-17674-184qprn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Figure 4. Key connectivity actions – Central City 2048. Image: Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal, Kun Fan, Author provided
Currently, commuter travel time to Central City from most strategic centres exceeds 30 minutes during morning and afternoon peak periods. By 2056, the number of trips to Central City is predicted to triple during these periods.
Without more investment in public transport, <a href="https://www.cityofparramatta.nsw.gov.au/sites/council/files/inline-files/pdf%2019%20-%20Parramatta%20CBD%20Strategic%20Transport%20Study.pdf" target="_blank">forecasts suggest the travel-to-work mode split will remain the same, increasing Central City’s congestion problems</a>. Regional mass-transit connections and reliable local transport options are a priority for Central City’s future.
<a href="https://images.theconversation.com/files/240974/original/file-20181017-17668-1flq7wu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240974/original/file-20181017-17668-1flq7wu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Figure 5. Central City 2048 regional connectivity map. Image: Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal, Kun Fan, Author provided
In terms of digital connectivity, existing infrastructure is limited to copper wire infrastructure. Only small pockets are connected to the National Broadband Network. A more reliable network with increased capacity is essential for Sydney’s next metropolitan centre.
<a href="https://images.theconversation.com/files/240975/original/file-20181017-17677-g40y8j.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240975/original/file-20181017-17677-g40y8j.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<h2>Liveability</h2>
<a href="https://images.theconversation.com/files/240976/original/file-20181017-17686-p9vc43.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240976/original/file-20181017-17686-p9vc43.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Figure 6. Key liveability actions – Central City 2048. Image: Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal, Kun Fan, Author provided
At 41.5 people per hectare, Central City’s residential density is much lower than the Harbour City’s 64.8 people/hectare. Highly liveable cities such as Vancouver and Copenhagen, with residential densities of 167.64 persons/hectare and 61.8 persons/hectare respectively, suggest high-density cities can be liveable too.
To support increased densities, Central City 2048 proposes increased employment opportunities and investment in transport, social and cultural infrastructure. It capitalises on Central City’s cultural diversity, heritage and landscape to create a vibrant and liveable city. Affordable housing targets of 30% are proposed to ensure Central City is an equitable city.
<a href="https://images.theconversation.com/files/240977/original/file-20181017-17671-1vtzi6p.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240977/original/file-20181017-17671-1vtzi6p.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<h2>Invest in city shaping</h2>
Central City 2048 proposes one new rail line, three metro lines, just under 300,000 additional jobs, and a 30% affordable housing target for all new dwellings. This looks ambitious, if not shocking, to many. But it portrays a compelling image of what it takes to build a metropolitan CBD at the geographical heart of the Greater Sydney Region. This is what city-shaping, and indeed nation-building, looks like.
The decision is now ours: are we willing to invest what it takes to make it happen?
This article is inspired by the work of the students enrolled in the <a href="https://sydney.edu.au/courses/units-of-study/2018/arch/arch9093" target="_blank">Integrated Urbanism Studio</a> for the Master of Urbanism at the University of Sydney. I specifically would like to acknowledge the significant contributions made by Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal and Kun Fan.<img src="https://counter.theconversation.com/content/102198/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/tooran-alizadeh-377838" target="_blank">Tooran Alizadeh</a>, Senior Lecturer, Director of Urban Design, <a href="http://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/reimagining-sydney-this-is-what-needs-to-be-done-to-make-a-central-city-cbd-work-102198" target="_blank">original article</a>.
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jrobinson-rf4aSBido9

What needs to be done to make a central city CBD work?

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CoreLogic have looked at where you’ll find a unit with a median value of under $500,000 close to the CBD.
The results highlight that housing options under $500,000 are available much closer to the CBD for units compared with houses. This likely also goes some way to explaining why in Sydney and Melbourne, where house values are falling, the more affordable unit market is holding up better).
While most Australians still aspire to own a house, the cost of well located houses, particularly in the larger capital cities, is restrictive.
As a result an increasing number of buyers are choosing to purchase more affordable units which offer the ability for owners to live in more desirable suburbs at a lower price point than purchasing a house.
<ul>
<li>Sydney</li>
</ul>
Lakemba is the suburb closest to the city centre with a median unit value below $500,000.
Located just over 12km from the city centre, the median value is $435,314. Compared to other capital cities, unit values below $500,000 are typically much further away from the city centre.
<ul>
<li>Melbourne</li>
</ul>
The Melbourne CBD has a median unit value below $500,000 and most of the suburbs surrounding the CBD also offer units which are typically valued below $500,000. Compare this to the detached housing market where the suburb closest to the city with a median below $500,000 was 16km away.
<ul>
<li>Brisbane</li>
</ul>
Most suburbs in Greater Brisbane have a median unit value below $500,000. Even within the CBD and surrounds median unit values generally sit below $500,000 offering a much more affordable alternative, particularly in the inner city to houses.
<ul>
<li>Adelaide</li>
</ul>
Units are much more affordable than houses throughout the city. In fact, throughout the whole city there are only five suburbs in which median unit values are in excess of $500,000.
<ul>
<li>Perth</li>
</ul>
While most of the suburbs surrounding Perth’s CBD have a median unit value below $500,000 there remains many suburbs with a median value of more than $500,000. These suburbs are typically along the coast or along the Swan River in some of the more exclusive enclaves.
<ul>
<li>Hobart </li>
</ul>
With a citywide median unit value well below $500,000 most of the suburbs across Hobart have a median value below $500,000. In fact, across the whole city only 3 suburbs have a median unit value of more than $500,000.
<ul>
<li>Darwin</li>
</ul>
Only one suburb in all of Greater Darwin has a median unit value of more than $500,000. As a result, the supply of relatively affordable unit stock is significant, particularly when compared to houses below $500,000.
<ul>
<li>Canberra</li>
</ul>
While there was only 1 suburb with a median house value below $500,000 there are substantially more suburbs with a median unit value below $500,000. Many of these suburbs are also quite close to the city centre resulting in a cheaper and more viable housing alternative in these areas.
<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/2018/5/25/CORELOGIC%20PLUSE%201.jpg" alt="">
 
<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/2018/5/25/CORELOGIC%20PLUSE%202.jpg" alt="">
Property Observer spotted a Lakemba two bedroom unit in Sydney has been recently sold for $442,000 (pictured below).
Set back from the street on the second level, the <a href="https://www.realestate.com.au/sold/property-unit-nsw-lakemba-128259782" target="_blank">9/94 Sproule St apartment</a> features two bedrooms, open living and dining zone, eat-in kitchen, and lock up garage. 
It is less than 10 minutes walk to Lakemba Station, buses and shops.
<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/2018/5/25/lakemba%20.jpg" alt="">
A Brisbane City two bedroom apartment with city and mountains views currently on the market is priced at over $477,000 (pictured below).
Situated in popular Aurora Towers, <a href="https://www.realestate.com.au/property-apartment-qld-brisbane+city-128310802" target="_blank">the 398/420 Queen Street apartment features two bedrooms, </a>open plan living and dining area and balcony with the views.
Aurora resident facilities include a pool, spa, sauna, gym, cinema, sun deck and BBQ area.
The 86 square metre apartment is close to dining, entertainment and retail options in the CBD, public transport and universities.
<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/2018/5/25/brisbane%20city.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Where can you buy a sub-$500,000 unit in our capital cities?

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Victoria University is once more pushing to consolidate its CBD presence into a single precinct, although not via the expected source.

Heritage Victoria is assessing a current proposal to restore and refurbish the former Land Titles Office (LTO) and Strong Room, with a new vertical campus tower at 247-283 Queen Street expected. The institution did hold approval for a separate mixed-use tower on the adjoining block, mere metres from the current proposal, which was also to have seen its CBD presence consolidated.

John Wardle Architects have conceived the current 17-level tower which would rise from behind the restored LTO building.

<h2>247-283 Queen Street development summary</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image218_0.jpg" rel="gallery-all" title="Street level perspective. Image: John Wardle Architects"><img alt="" class="image-article-full-width-580px" height="411" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image218_0.jpg?itok=AL1fkPlE" title="Street level perspective. Image: John Wardle Architects" width="580"></a>

<figcaption>Street level perspective. Image: John Wardle Architects</figcaption></figure><ul>
<li>LTO Building vacant for three years, requires an internal refurbishment</li>
	<li>Proposed 87.5 metre tower</li>
	<li>Total Net Lettable Area for the project is 23,263 square metres</li>
	<li>27% of space dedicated to formal teaching and learning use</li>
	<li>Osteo and Dermal Clinic, Entrepreneurial Hub, VU College and social spaces also included</li>
	<li>Single basement level</li>
	<li>New pedestrian link at ground level between LTO Building and proposed tower, with canopy above</li>
</ul>
<h2>Heritage considerations</h2>

The former Land Titles Office is included in the Victorian Heritage Register for being a property is of architectural, technical and historical significance to Victoria. It was built in three stages between 1874 and 1877, with the Strong Room completed over 1884-1885.

John Wardle Architects' scheme is noted as being less intrusive on the historic structures than a 2014 permit for works to the LTO building. Under those plans demolition, refurbishment and new building works would have been undertaken to create a new tower for Victoria University above the Strong Room.

Similarly, under current plans "the support structure for the tower is to be placed around the Strong Room, and does not impact on the original enclosing walls of the building. The vertical campus core will be located in the south-west corner of the Strong Room, requiring demolition of the existing built-in shelving units and structure above and below.

The original northern section of the Strong Room will be retained and restored."

A photographic essay of the two historic structures can be found <a href="http://www.hinlimphotography.com/gallery_A1_files/Heritage/2016%20LTO%20Strong%20Room/index#">here</a>.

<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/image223_0.jpg" rel="gallery-all" title="Former LTO - Strong Room. Image: Hin Lim Photography"><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image223_0.jpg?itok=GW_dWtXk" title="Former LTO - Strong Room. Image: Hin Lim Photography" width="580"></a>

<figcaption>Former LTO - Strong Room. Image: Hin Lim Photography</figcaption></figure><h2>John Wardle Architects design notes</h2>

<ul>
<li>The success of this new vertical campus for Victoria University amongst other criteria and measures is the project’s response to the Heritage aspects of the site, it’s accordance with Planning requirements and the development of the Tower form and floor plate that creates a flexible framework for new teaching and learning activities within a new city campus.</li>
	<li>This building takes stock of the expanding means by which people learn and communicate today, and transposes them into a tower form.</li>
	<li>While many advances in communication and learning have evolved independent of developments in the physical environment, the notion of a campus still holds considerable sway. The enduring nature of a campus is couched in its ability to bring creative and progressive minds together in physical space - providing a platform for their sustained interaction.</li>
	<li>Rather than an autonomous essay on the future of learning, the VU Tower acknowledges that Melbourne’s civic history can be found in buildings that are monumental – or through time, have become mute.</li>
	<li>The space between the Land Titles Office and the Strong Room has the potential to perform multiple roles by establishing a sense of Terra Firma for the project. Through a series of interventions that uncover its latent qualities, we propose an internal street that is at once a transitional moment between city and campus, and a key opportunity to set the tone for architectural and pedagogical values that follow.</li>
</ul>
<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/image220_1.jpg" rel="gallery-all" title="Level five student area. Image: John Wardle Architects"><img alt="" class="image-article-full-width-580px" height="342" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image220_1.jpg?itok=qFJAJjiV" title="Level five student area. Image: John Wardle Architects" width="580"></a>

<figcaption>Level five student area. Image: John Wardle Architects</figcaption></figure><h2>First to fall?</h2>

Victoria University did hold approval for a more substantial mixed-use development across 364-378 Little Lonsdale Street, diagonally opposite the Queen Street tower proposal.

The permit has not been acted upon for a number of years, which would call into question the institution's intentions for the dual Little Lonsdale Street sites.

<blockquote>
"Planning approval is in place for redevelopment of these sites for a new multi-storey educational facility. This facility was designed to accommodate an expanded educational programme for the central city campus, including health and business faculties.

On more recent review of this approved development Victoria University has determined that the modest area of the floor plates, combined with lifting (vertical movement) requirements, makes the viability of this development questionable."
<cite>Lovell Chen</cite>
</blockquote>

Spanning 135 metres and designed by Jackson Architecture, the Little Lonsdale Street tower was designed to include academic and support services space, plush 11,350 square metres of leasable office space.

Time will tell if Victoria University pursues the Little Lonsdale Street tower in an altered form such as student accommodation or consigns it to history.

<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/image221_0.jpg" rel="gallery-all" title="A dated render of VU Tower. Image: Jackson Architecture"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image221_0.jpg?itok=1SZOGjia" title="A dated render of VU Tower. Image: Jackson Architecture" width="580"></a>

<figcaption>A dated render of the approved VU Tower. Image: Jackson Architecture</figcaption></figure>
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silvermb

VU reworks its Queen Street Precinct tower plans

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Salta Properties' latest project is poised to clear a major planning hurdle at City of Melbourne's Future Planning Committee sitting this evening.

Council planners have recommended approval for Salta's mixed-use tower at 57-63 Exhibition Street. Replacing ASF House, the currently 203m tower with an expected development cost of $255 million may be required to ditch a number of floors in order to prevent overshadowing of Birrarung Marr.

City of Melbourne planners have requested it be reduced to 183 metres. A mix of hotel and residential, 57-63 Exhibition Street's fate is ultimately with the Planning Minister.

Should the final green light be given, Salta will be in a strong position to woo a hotel operator for the project's 185 suites which range between 34sqm and 82sqm. The immediate area surrounding the Exhibition Street proposal is already a magnet for premium hotel brands; Stamford Plaza, Sheraton Melbourne, Sofitel, Grand Hyatt and a pending NEXT outlet are present.

<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/image16ex.jpg" rel="gallery-all" title="Exhibition Street perspective. Planning image: Bates Smart"><img alt="" class="image-article-full-width-580px" height="465" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image16ex.jpg?itok=Xr7PMg0c" title="Exhibition Street perspective. Planning image: Bates Smart" width="580"></a>

<figcaption>Exhibition Street perspective. Planning image: Bates Smart</figcaption></figure>57-63 Exhibition Street's ground plane treatment has seen a laneway inserted, connecting Strachan Lane and Chester Lane. Incidentally Strachan Lane was subject to a <a href="http://www.heraldsun.com.au/news/victoria/chequerboard-art-in-melbournes-strachan-lane-washed-away/news-story/8807c8fc73d039ab1ef4049b3ddc4013">creative urban art installation</a> earlier this year which riled Council.

Report documents talk of the the "considered placement of openings and fine detailing in the (proposal's) podium facade and the ramp’s internal elevations, this alluring detail and materiality becomes the focus of Chester Lane when experienced from Flinders Lane, enticing passers by to explore further." The design also allows for adjacent properties to be redeveloped in an equitable manner.

City of Melbourne planners have called for further design changes in addition to the slight height decrease. Fenestration to the southern boundary wall above a height of 80 metres has been sought, along with further detail regarding the proposal's ground floor plane.

<blockquote>
Broadly, the proposed development exhibits a high quality design, providing a podium that will successfully integrate with the height and detailing of adjacent graded historic buildings in addition to providing a high degree of activation and site permeability. The tower component achieves adequate separation and setbacks, and the design exhibits excellent internal amenity.

Subject to the recommended conditions, it is considered that the subject site can support a building of this scale, and the proposal will make a positive contribution to Exhibition Street and Melbourne’s City
<cite>Report to the Future Melbourne (Planning) Committee</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image21_13.jpg" rel="gallery-all" title="Faceted to the floor. Planning image: Bates Smart"><img alt="" class="image-article-full-width-580px" height="507" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image21_13.jpg?itok=UD8RcfTo" title="Faceted to the floor. Planning image: Bates Smart" width="580"></a>

<figcaption>Faceted to the floor. Planning image: Bates Smart</figcaption></figure>For Salta, the nod from Council tonight is a major step toward securing approval for the site which was entered into a joint venture with Malaysia’s Asia One. Although Asia One held the site outright initially, scant little has been heard from the developer since the joint venture was announced; perhaps a coincidence but Salta Properties Pty Ltd is the sole entity listed within the report to Council.

Regardless, 57-63 Exhibition Street adds to Salta's pending apartment development pipeline.

Their Park House project at 627 Victoria Street, Abbotsford has seen Icon Co installed as preferred builder, with a start to the 500 plus apartment build imminent. Also on the radar is 695-699 La Trobe Street, a 28 level tower containing rental apartments and hotel suites.

Upon approval, 57-63 Exhibition Street would join 249-261 Queens Parade, Clifton Hill and additional apartment projects within the Salta's Victoria Gardens precinct as future projects.
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CoM moves to provide clearance for 63 Exhibition's lofty ambitions

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Over the course of the last week, Malaysian developer S P Setia has landed two telling blows in Melbourne's apartment market, further enhancing its stature locally.

Malaysian publication The Edge Markets has in recent days reported that the developer has secured 111-125 A’Beckett Street for a price of $61 million. Complete with permit for an Elenberg Fraser-designed apartment tower spanning 200 plus metres, the A'Beckett Street plot of 1,714sqm is the developer's sixth Melbourne foray.

CBRE City Sales recently ran an Expression of Interest campaign for the site which was initially controlled by Singaporean outfit Tong Eng Group. The scheme had been dubbed Myriad Melbourne prior to S P Setia's involvement.

The Edge Markets <a href="http://www.theedgemarkets.com/article/s-p-setia-acquires-sixth-parcel-land-melbourne-rm137-bil-project">reported</a> S P Setia's CEO and president, Datuk Khor Chap Jen as stating the following:

<blockquote>
We are truly pleased and happy with this fantastic news. This is another golden opportunity for S P Setia to deliver yet another development par excellence in Melbourne, the world's most livable city for the sixth year in a row.

The winning bid reaffirms Setia’s long-term commitment and confidence in the Australian real estate market. We remain optimistic on the property market in Australia and will continue to look out for more acquisition opportunities.
<cite>Datuk Khor Chap Jen, CEO, S P Setia</cite>
</blockquote>

In its currently approved form S P Setia can pursue 632 apartments within their new project.

According to The Edge Markets, 111-125 A'Beckett Street will be launched this year and will carry an estimated gross development value of $419 million.

<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/image5_9.jpg" rel="gallery-all" title="111-125 A'Beckett Street. Image: CBRE City Sales"><img alt="" class="image-article-full-width-580px" height="725" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image5_9.jpg?itok=rNGJcaLL" title="111-125 A'Beckett Street. Image: CBRE City Sales" width="580"></a>

<figcaption>111-125 A'Beckett Street. Image: CBRE City Sales</figcaption></figure>News of S P Setia's A'Beckett Street foray comes hot on the heels of <a href="/news/s-p-setias-308-exhibition-street-approved-shangri-la-hotels-resorts-confirmed-as-operator"> the developer launching Sapphire By The Gardens</a>, which includes dual towers in the 250 metre range.

While one tower has been dedicated to Shangri-La Hotels and Resorts to be operated under their premium Shangri-La banner, the other which includes 345 luxury apartments has seen a high level of sales made, according to offshore markets website The Edge. Located at 308 Exhibition Street, the Cox and Fender Katsalidis-designed development features a distinctive green podium.

Released for sale only last weekend, The Edge Markets also <a href="http://www.theedgemarkets.com/article/s-p-setias-sapphire-gardens-70-taken-over-weekend-launch">reports</a> that more than 70% of apartments have been accounted for after the launch which was held simultaneously in Kuala Lumpur, Jakarta, Sydney and here in Melbourne. Hong Kong, Beijing, Shanghai and Singapore are reportedly to have their launch this weekend.

Construction of the mammoth project is slated to start later this year.

<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/image6_15.jpg" rel="gallery-all" title="Sapphire By The Gardens. Image: S P Setia"><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image6_15.jpg?itok=QmcuMweq" title="Sapphire By The Gardens. Image: S P Setia" width="580"></a>

<figcaption>Sapphire By The Gardens. Image: S P Setia</figcaption></figure>With Maison Carnegie at construction and A'Beckett Street poised to join Sapphire By The Gardens at sales over the course of 2017, S P Setia's only remaining Melbourne project which has yet to be launched is the more modest mid-rise 103-105 High Street in Prahran.
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S P Setia lands 111-125 A'Beckett Street as offshore media reports Sapphire is all but sold out

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Once derided as the derriere of Melbourne's CBD, the west end is undergoing a marked revival with a slew of residential projects about to begin. This revival largely can also be attributed to the ongoing development of Docklands and the redevelopment of what is now Southern Cross Station, with the resultant epicentre of Melbourne's CBD slowly shifting to the area around King and Spencer Streets. 

A snapshot of some of the largest of these projects which will transform the face of Melbourne from a westerly aspect can be seen below;

<h2>555 Collins Street</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/555collins_0.jpg" rel="gallery-all" title="555 Collins Street. Images: Bates Smart"><img alt="" class="image-article-full-width-580px" height="317" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/555collins_0.jpg?itok=9NIVdgHj" title="555 Collins Street. Images: Bates Smart" width="580"></a>

<figcaption>555 Collins Street. Images: Bates Smart</figcaption></figure>One of the latest projects to hit the market following a colourful history at planning. Once the site of the beautifully crafted Federal Coffee Palace, <a href="/developments/melbourne-vic-3000">555 Collins Street </a>currently stands as the empty concrete edifice dubbed Enterprise House.

Initially seeking planning exemption for a commercial building of 400m, owner Harry Stamoulis sold the site to Fragrance group who tried for a 90-storey, 300m tower designed by Bates Smart. That was reassessed following backlash during the planning process and was eventually replaced with a 47-storey pleated tower rising from a tapering base.

624 apartments constitute the tower.

<blockquote>
555 Collins Street will provide a dynamic and elegant residential tower regenerating a prominent, but neglected corner site within Melbourne’s CBD. The tower form is distinguished by a unique tapered podium which allows for the creation of an increased public realm and generous retail precinct.

The tapered base also means daylight can filter into the internal spaces, while at night, light will illuminate the surrounding precinct. A continuous pedestrian loop will link the development with the adjacent building, expanding public amenity and creating a contemporary addition to Melbourne’s collection of laneways.

- Bates Smart
</blockquote>

555 Collins Street is currently at sales and registrations.

<h2>West Side Place</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gold_residences.jpg" rel="gallery-all" title="The Gold Residences at West Side Place. Image: Far East Consortium"><img alt="" class="image-article-full-width-580px" height="375" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/gold_residences.jpg?itok=lYWSSdJ_" title="The Gold Residences at West Side Place. Image: Far East Consortium" width="580"></a>

<figcaption>The Gold Residences at West Side Place. Image: Far East Consortium</figcaption></figure>Stage 1 of West Side Place comprising two 200m + towers including a Ritz-Carlton hotel, and is set to commence construction in coming months following a successful sales campaign, with few apartments remaining. Developer Far East Consortium is now pushing ahead with the next stage - The Gold Release Residences - set for launch on June 3rd via Colliers.

Rising 72-storeys for an approximate height of 245m, the Gold Release will sit to the east of the Ritz Carlton with a laneway separating the two towers and frontage along Lonsdale Street. A fourth and final tower of 69-storeys and approximately 235m high will complete Far East's regeneration of two city blocks, which it began with its Upper West Side development on the site of the former Lonsdale Street power station.

<blockquote>
The Gold Release is the newest stage within the Ritz-Carlton precinct offering one and two bedroom residences up to level 70 and featuring expansive views across Port Phillip Bay, Melbourne’s city skyline and beyond. The Gold Release represents sophistication, elegance, value, quality and status. Everything that is synonymous with West Side Place and the Ritz-Carlton.

Designed to maximise natural light, residences are available right up to the clouds at level 70, across the following three offerings of Sky Residences, Central Residences, and Garden Residences.

- Far East Consortium
</blockquote>

<h2>Premier Tower</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/premier_tower.jpg" rel="gallery-all" title="Premier Tower construction progress. Photo: redden"><img alt="" class="image-article-full-width-580px" height="321" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/premier_tower.jpg?itok=-jX3Ks1g" title="Premier Tower construction progress. Photo: redden" width="580"></a>

<figcaption>Premier Tower construction progress. Photo: redden</figcaption></figure><a href="/buildings/premier-tower-134-160-spencer-street-melbourne">Premier Tower</a> replaces the old Savoy Hotel on one of Melbourne's more prominent corners. The site is now at piling following initial demolition and excavations, with the result a 249m tower and 600 plus apartments.

Fragrance Group are behind the Elenberg Fraser-designed tower, with Multiplex the head contractor.

<blockquote>
We know you’ll agree that when you hear the phrase ‘less is more’ the first person that springs to mind is Beyoncé. No? Well – our new mixed-use building 134 Spencer Street provides the link between the two. At once a building that is the essence of first principles design – created entirely by parametric modelling – meanwhile its spiralling curves recall the twists and turns of a woman dancing in black cloth.

The deceptively complex form is the result of our research into wind, solar and massing criteria – the form is the best possible solution to all of those requirements. On top of that – we’ve taken the heritage surrounds into account, stepping down from the podium to meet them at eye level. This building is just another step in the westerly shift of the CBD.

- Elenberg Fraser
</blockquote>

<h2>299 King Street</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/firs9645_299kingst_el03_parkview.jpg" rel="gallery-all" title="299 King Street and surrounds. Image:CBRE"><img alt="" class="image-article-full-width-580px" height="223" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/firs9645_299kingst_el03_parkview.jpg?itok=qRECk-TJ" title="299 King Street and surrounds. Image:CBRE" width="580"></a>

<figcaption>299 King Street and surrounds. Image:CBRE</figcaption></figure>Initially receiving approval for a height of 208m - down from the initial proposal of 83-storeys and 269m - owners Farinia on sold the site with approval for a residential scheme by Plus Architecture to Aurumstone Group. Aurumstone has since engaged Elenberg Fraser to rework the scheme in readiness for a imminent sales campaign.

Gone is the pearlescent façade which would produce a pink, bluish, purple effect depending on how light was cast over the tower. Likewise the tower's form has been rationalised with curvaceous lines and a bulge in form toward its peak.

<h2>Collins House</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/collins_house.jpg" rel="gallery-all" title="Collins House construction progress. Photo: redden"><img alt="" class="image-article-full-width-580px" height="286" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/collins_house.jpg?itok=wR8gtWqR" title="Collins House construction progress. Photo: redden" width="580"></a>

<figcaption><a href="/buildings/collins-house-melbourne-460-466-collins-street-melbourne">Collins House construction</a> progress. Photo: redden</figcaption></figure>Hickory is progressing construction works on the narrow site of what will eventually become Australia's slimmest tower, containing 267 dwellings. To deliver Golden Age's 60-storey residential tower and to deal with the site's small footprint, Hickory will be employing its innovative HBS construction method

The project will be serviced by a single tower crane, with major elements including façade and floors fabricated off-site and rapidly assembled on arrival at Collins Street. As such Hickory anticipates the overall construction programme on the Bates Smart designed tower will be reduced by up to 30%.

<blockquote>
The 60 level Collins House project incorporates the grand heritage façade of Melbourne’s historic Maker’s Mark building with a sleek contemporary tower.  Located on a small site footprint in central Melbourne, Hickory’s construction method for the project incorporates our own volumetric structural system, allowing building componentry to be erected more efficiently than a conventional formwork approach would have allowed.

Once complete, the 204-metre project will boast 271 luxury apartments ranging from two and three bedrooms to double storey loft apartments over a single basement level.  Communal facilities for residents include Collins Terrace on Level 3, a private indoor / outdoor space with private dining and gourmet kitchen and the St James Club on Level 27, a private club space with fitness facilities, outdoor deck, dining room and bar.

- Hickory
</blockquote>

<h2>600 Collins Street</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/06_collins_melbourne_corner_plaza_hires.jpg" rel="gallery-all" title="600 Collins Street base and plaza. Image: ZHA "><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/06_collins_melbourne_corner_plaza_hires.jpg?itok=RsjW4isc" title="600 Collins Street base and plaza. Image: ZHA " width="580"></a>

<figcaption>600 Collins Street base and plaza. Image: ZHA</figcaption></figure>Developer Landream has applied to amend the approved plans to include a six star hotel in the tower with a marketing campaign not too far off for the ZHA and Plus Architecture designed tower. The development distinguished by 3-stacked vases, will deliver a plaza to Collins Street and laneway to the west of the site activated with retail and a gallery space.

^00 Collins was approved with 420 apartments in place, although that final release will likely see this number change.

<blockquote>
The design has been defined by Melbourne's rich and diverse urban landscape, reinterpreted in a contemporary solution driven by the logical division of its overall volume that will enhance the city's public realm with generous communal spaces. We are honoured to be working with our partners in Melbourne to deliver this project for the city.

- Michele Pasca di Magliano, Zaha Hadid Architects. 
</blockquote>
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Laurence Dragomir

Apartments galore set to breathe new life into the western CBD 

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GUEST OBSERVER
<div class="WordSection1">
The residential population of the City of Perth needs to double if the Perth CBD is to reduce current record levels of commercial office vacancy, and provide workers in the CBD which are the mainstay of the CBD retail sector and eateries.
Of the 200,000 people that work in Perth CBD, less than 20,000 live within the boundaries of the City of Perth.
The exodus of people leaving the CBD at the end of each working day, creates traffic chaos on the freeways and leaves the CBD lacking the night time economy that makes other major cities.
 The City of Perth currently has plans to promote Perth CBD as a vibrant residential area, but much more is needed to be done.
The recent new stock of apartments and medium to high-density housing is limited to opposite ends of the CBD and there has not been enough new supply to make Perth’s residential population anywhere near its target.
We need more, better quality and affordable housing options spread around the Perth CBD to create new precincts that attract people and new businesses into the CBD.
WA Labor’s plans for a second high school in the CBD will require well designed and affordable housing options for families as well as those looking for inner city living.
However, if Perth is going to compete with the suburbs and provide an appropriate mix of housing options in the CBD, the WA Labor government must prioritise key reforms including:
<ul>
<li>Introduce stamp duty concessions for off-the-plan apartments similar to a traditional house and land package;</li>
<li>Fast track the Strata Title reforms to enable community titles and improve strata management;</li>
<li>Full private certification of building permits;</li>
<li>Legislate to allow local authorities like the City of Perth to bring building owners, tenants and financiers together to agree to loan terms to enable finance arrangements to upgrade old and vacant CBD buildings.</li>
</ul>
These reforms are now urgent if we are to create the right commercial, retail and residential offerings to encourage people to move into the CBD.
 
Lino Iacomella is a WA Executive Director at Property Council of Australia and can be contacted <a href="https://www.propertycouncil.com.au" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Perth CBD must double number of residents: Lino Iacomella

<html><body>
GUEST OBSERVER
The high vacancy rate for older commercial buildings in Perth is a concern for the broader community and the Property Council of Australia is calling on the major parties contesting the state election to take a bigger interest in policy solutions to problem.
The Perth CBD has the highest vacancy rate in the country at 22.5 percent and much of the vacancy is in older buildings known as ‘B grade’ stock, which makes up almost a third of the total stock of commercial offices in the CBD. 
The vacancy rate for B grade buildings is over 30 percent.
The risk in Perth is that commercial tenants will continue to gravitate to the newer higher grade office towers leaving the older buildings vacant, creating ‘dark zones’ in the CBD.
A two-tier office market is emerging in the CBD, including prime and A grade buildings in stronger demand by tenants and older buildings. 
We are already seeing vacancy rates in prime buildings decline however vacancies in older buildings may not have peaked yet.
In a bid to tackle, the rising Perth vacancy rates, the Property Council is calling on the major parties contesting the State election in March to commit to working alongside industry and the City of Perth to enable building upgrade agreements in the CBD.
Building upgrade finance is a voluntary mechanism to assist building owners to upgrade commercial buildings to improve, water, energy, and environmental efficiency by retrofitting existing commercial buildings.
Under the Building Upgrade Finance mechanism, a local council can voluntarily enter into a building upgrade agreement with a building owner and a financier.
Under a building upgrade agreement the building owner agrees to undertake upgrade works in respect of their building. The financier agrees to advance money to the building owner for funding the upgrade works, and the council agrees to levy a building upgrade charge against the land on which the building is situated. 
The initiative has been successfully adopted in Victoria, NSW and SA. However, it will require a change of the Local Government Act to enable building upgrade agreements to commence in WA.
Building Upgrade Agreements are a simple and effective mechanism to overcome the high office vacancy rate in the CBD and prevent the spread of dark zones
Lino Iacomella is executive directory, Property Council WA, and can be contacted <a href="https://www.propertycouncil.com.au/Web/About_Us/Contact_us/WA/Web/About_us/ContactUs/WA.aspx?hkey=4fc8901b-1527-43f8-88ed-c466ebcc6220" target="_blank">here</a>.
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Policy solutions needed to counter CBD dark zones

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Melbourne's Tavistock House in the middle of the CBD has been sold at auction for $7.9 million.
The iconic triple-storey corner freehold building at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-502136982" target="_blank">383-387 Flinders Lane</a> comprises a 442 sqm land parcel and over 42 metre triple street frontage.
It's surrounded by major corporate headquarters, Melbourne’s finest restaurants, luxury retail, high end hotels and entertainment as well as all forms of public transport.
It was offered with up to 12 months settlement and has traded for the first time in over two decades. It last sold for $600,000 in 1993.
It comes part leased to established tenants.
Colliers International handled the sale with <a href="https://www.instagram.com/p/BM8YKO8BslB/?taken-by=cooleyauctions" target="_blank">Cooley Auctions handling the onsite auction</a>.
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