Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

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One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Commercial

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Mirvac Group has secured four residential development projects across Sydney, Melbourne and Brisbane totalling $144.2 million, on mostly delayed settlement terms.
“These acquisitions significantly restock our residential development pipeline and will provide long-term earnings benefits from FY16 onwards," Mirvac's managing director, Susan Lloyd-Hurwitz said.
"They sit within our directional mandate to acquire apartments in the inner ring and masterplanned communities in infill ring locations, and highlight our capacity to source and secure off-market opportunities in key locations."
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There was the purchase of an inner ring residential site in Waterloo, with the potential to deliver 250 residential apartments and 1,000 square metres of retail space. It is subject to FIRB approval.
Then inner ring residential site in Brisbane is located in south Brisbane with city and river views. The development has approved planning for a two staged apartment project of 329 lots across two towers, and will comprise one and two bedroom offerings. The project is expected to contribute to earnings from early 2017.
Settlement of the acquisition will occur in two stages, with stage one expected in mid-2014 and stage two expected in mid-2015.
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Mirvac has also purchased a property off Raby Road, Catherine Fields, 60 kilometres south-west of Sydney’s CBD within Sydney’s South West Growth Centre region. The 87 hectare site has the potential to deliver up to 600 lots. 
Altona North is the location of the Victorian acquisition. It is an 11.5 hectare infill site in Blackshaws Road, Altona North, with the potential to deliver 260 lots, subject to planning approvals.
Mirvac has appointed Brett Draffen to the newly created position of chief investment officer.
Brett Draffen had previously been the company’s chief executive development and group strategy.
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Mirvac grabs four off-market residential project sites with 1,400 dwelling potential

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Four consortia have been shortlisted to develop a six-star multi-billion dollar integrated resort development at Queen’s Wharf Brisbane.
<ul>
<li>Crown Resorts Ltd</li>
<li>Echo Entertainment Group Ltd</li>
<li>Far East Consortium/ Chow Tai Fook Enterprises Ltd</li>
<li>Greenland Investment Pty Ltd.</li>
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In October last year the Queensland government decided a gaming licence would be available for the under-utilised nine hectare government-owned site adjacent to the north bank of the Brisbane River.
The shortlisted companies will be required to lodge fully-developed proposals with the government in late 2014.
A formal announcement regarding the successful developer and their development scheme is not expected until early 2015.
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Crown Resorts Ltd
One of Australia’s leading integrated resort and casino operators with international joint-ventures and associated gaming and hospitality interests.
Extensive domestic experience developing, owning and operating integrated resort development (IRD) casinos including:
<ul>
<li>$3.7 billion Crown Melbourne, Southbank urban redevelopment</li>
<li>$850 million Crown Perth refurbishment</li>
<li>$2 billion (planned) Crown Sydney.</li>
</ul>
Echo Entertainment Group Ltd
One of Australia’s leading integrated resort and casino operator with substantial presence in domestic market.
Domestic IRD casinos include:
<ul>
<li>$870 million Star Sydney upgrade (2008-2012)</li>
<li>Treasury Casino and Hotel Brisbane</li>
<li>Jupiters Casinos and Hotels in Townsville and the Gold Coast (planned $345 million refurbishment).</li>
</ul>
Far East Consortium/ Chow Tai Fook Enterprises Ltd
International hospitality and mixed-use property developer/operator with some domestic development experience in Melbourne and Perth.
Notable large scale developments include:
<ul>
<li>$3.3 billion Trump Place, New York City</li>
<li>$1.2 billion Hong Kong Convention and Exhibition Centre</li>
<li>$1.2 billion 250 Spencer St, Melbourne integrated residential, retail, hotel and public realm development.</li>
</ul>
Greenland Investment Pty Ltd 
Fortune 500 Chinese state-owned international large scale mixed-use property developer.
Notable projects include:
<ul>
<li>400 hectare Greenland Nanchang activity centre urban redevelopment</li>
<li>$1 billion 82 hectare Zhengzhou Greenland Central Plaza activity centre and transport hub</li>
<li>$680 million Greenland Centre Sydney residential tower.</li>
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Crown versus Echo again, with Greenland and Far East also seeking Brisbane Queen's Wharf project

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The Green Building Council of Australia’s 6 Star Green Star rating has been awarded to Barangaroo South’s Tower 2 commercial building. The Office Design c3 certified rating identifies sustainable building practices.
The 42-storey Tower 2 is the largest building to receive this rating, and it is currently under construction.
New South Wales Environment Minister Rob Stokes said that supporting the sustainability in the commercial office sector is something the state government is behind.
“It is great to see sustainability made a priority in this project, reinforcing NSW as a leader in the area of environmental innovation,” said Stokes.
Tower 2 is one of three buildings that collectively create the International Towers Sydney, and it includes Westpac and Gilbert + Tobin as anchor tenants.
Lend Lease chief executive officer, property, Australia, Tarun Gupta, said that the internationally-recognised rating helps benefit corporate tenants, residents, retailers and visitors, with a sustainable view across the entirety of Barangaroo.
“Lend Lease's aim is to make the precinct Australia's first carbon neutral community,” said Gupta.
“Energy-efficient design, on and offsite low carbon and renewable energy teamed with zero carbon waste treatment and commuter carbon emission offsets, will result in a net carbon neutral outcome for the precinct's operational energy use.”
An on-site blackwater treatment plant, which has the capacity to supply a million litres of recycled water to the precinct and local suburbs, is an initiative of the precinct.
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Green star certification awarded to Barangaroo South Tower 2

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Car sharing club GoGet has partnered to provide up to 44 car share vehicles in the $2 billion Central Park complex on Broadway in Sydney.
The joint-venture developers, Frasers Property and Sekisui House, have sensed the global trend with the newest batch of inner city residents re-assessing the way they integrate personal vehicles and public transport into their lives.
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Vehicles, including hatchbacks, wagons, vans, utes, Yaris, Audis and 8-seater people movers will be available at <a href="https://www.centralparksydney.com" target="_blank">Central Park</a>.
Frasers Property Australia CEO Guy Pahor welcomed Australia’s largest GoGet SuperPod with cars available to the 1,000 plus residents, along with Chippendale locals.
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Frasers Property has been a longtime supporter of the carpooling initiative, having introduced a 10 car share pod at its Trio development in Camperdown in 2009.
“The considerable environmental benefits that the GoGet car share scheme brings, through less congestion on the roads and less car trips, contribute to the world-leading sustainability agenda of Central Park.”
He noted that buyers are driven by price points, with investors deciding sometimes that a car space does not add more to the value of the apartment.
“What drives the value of the apartments is the social and physical infrastructure within walking distance from Central Park.”
The cost of a car space in Central Park is about $75,000.
GoGet co-founder Bruce Jeffreys says <a href="https://www.goget.com.au/pod/1189/" target="_blank">the largest cluster of car share vehicles in Australia</a>, allowed motorists to select a car to fit their mood or errand.
When completed, Central Park, at Broadway, at the south of the city, will have 2,200 apartments and more than 5,000 residents.
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Not all apartments will have parking spaces, with around half currently having a space allocated to their unit.
“Increasing numbers of urban dwellers are living in the city without a car,” GoGet chief executive Tristan Sender said.
This reflected a drop in car ownership and an increase in car sharing among Sydney residents.
With enthusiasm from Clover Moore's town hall, the city saw around a 20% increase in car share spaces in the past year to 589 on-street parking spaces for car-sharing services, up from 489 spaces in April 2013. The City of Sydney aims to have 10% of all households using car sharing programs by 2016.
GoGet allows consumers to book a car by the hour, with costs ranging from around $6.35 to $9.90 an hour. The company has more than 1,300 vehicles in Australia with 1,110 of those in Sydney.
GoGet members pay a monthly fee, using the phone or internet to book and then a smartcard to unlock the vehicle.
GoGet was founded seven years ago and now has almost 50,000 members of which 36,000 are in NSW.
An wtart-up called Car Next Door, based at the Fishburners start-up hub in Ultimo, has emerged but does not own the cars in its network. It facilitates neighbourhood car sharing where car owners earn money by renting out their car to members on the network. The owners set a price per hour/day with Car Next Door taking a 25% stake.
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Go Get car share for Central Park inner city residents

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An 863 square metre development site in Melbourne’s Southbank residential precinct has seen strong interest. The 47 City Road precinct, being sold through CBRE City Sales, has seen interest around the $9 million mark.
It is bordered by St Kilda Road and Southbank Boulevard, and currently holds a single-level office building, 12 onsite car spaces and two street frontages on Fawkner Street and City Road, which provides a revenue stream while plans and permit are organised for future development.
CBRE’s Josh Rutman, Mark Wizel and Ed Wright are marketing it through an International Public Expressions of Interest campaign that is expecting to see strong offshore interest. The campaign goes until June 12.
It is located near Crown Casino Complex, the Yarra River, and Southbank Theatre.
"Developers, especially those from Asia, are recognising Southbank is serviced by world class infrastructure and amenity, and is viewed by overseas apartment buyers as being a terrific alternative to buying an apartment in the Melbourne CBD,” said Rutman.
Recently, Singapore’s Aspial Corporation purchased a land holding on the corner of City Road and Southbank Boulevard, Australia 108, for $42.3 million. A total of more than $180 million has reportedly been spent in the past six months on Southbank sites – with the majority from offshore purchasers.
Wright noted that offshore buyers are interested in two elements primarily. The first – how many apartments can be built on the site. The second – what they can get for these apartments.
High density Southbank apartments often go for high prices, he said.
“With the recent explosion of Asian investment into Melbourne’s property market, we expect this property will be of particular interest to offshore investors looking to undertake a landmark residential development in Australia’s most liveable city.”
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Melbourne development site expecting strong foreign interest

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Mortgage insurer Genworth is set to list tomorrow on the Australian stock exchange after strong local and international equity interest, the second biggest initial public offering for the year to date. There was a $2.65 per share institutional price.
Genworth plans to list with a market capitalisation of around $1.72 billion. It has a 45% share of the lenders’ mortgage insurance (LMI) market in Australia, in an oligopoly as Genworth and the other main player, QBE LMI, have a combined share of around 78%.
Goldman Sachs and CBA Equities, Macquarie and UBS launched a book build last week following the decision of the US parent to sell down a 34% stake in its Australian subsidiary.
Genworth will raise about $750 million from the float, which was delayed two years ago, following heavy losses in the local LMI arm.
LMI covers lenders when borrowers default on their home loans. LMI is typically required by banks as a result of pressure from the Australian Prudential Regulation Authority and their own boards for risk mitigation when a borrower has less than 20% of the purchase price as a deposit.
Mortgage insurance covers the lender – usually banks – with Genworth the largest Australian provider, with more than 60% of its business coming from loans written by CBA, Westpac Banking Corporation and National Australia Bank.
Genworth said it expected to post a net profit of US$231 million ($248 million) for the year to 31 December, up from US$179 million in 2013.
But CLSA analyst Jan van der Schalk told the AFR the company produces an 11% return on equity, which is a “desperately poor return for a feast or famine business”.
Goldman Sachs has estimated a property price correction of 10% would have a pre-tax impact of $870 million over a two to three year period.
A hard landing for property prices – a fall of 30% – would have a pre-tax impact of $2.2 billion over two to three years.
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Genworth mortgage insurer set for ASX debut

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A 1.925 hectare development site in Melbourne's Cairnlea has sold under the hammer for $6.41 million.
A prominent local developer was the buyer of the Brimbank Council development site, 93 Furlong Road.
Zoned Mixed Use, the property includes a 114.29 metre frontage to Furlong Road and 157.90 metre frontage to Cairnlea Drive.
Fitzroys agents James Gregson and David Bourke handled the campaign.
Mr Bourke said the site was originally earmarked for Brimbank Council offices, however this was subsequently shelved with Council deciding to develop the new Civic Centre in Sunshine central and subsequently the site became surplus to council requirements.
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Local developer pays $6.41 million for Cairnlea, Melbourne site

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A private speculator has purchased a development site in Meadowbank, in Sydney's west from McClintock Properties for $3.55 million.
The 115 Bowden Street development site has an area of about 1,075 square metres and is zoned mixed use. 
The selling agent, Knight Frank's Michael Wydeman, said: “The site is located approximately 15 kilometres west of Sydney, and walking distance to ferry, bus and train, the development site appealed to a market starved of mixed use sites in this size and price range.”
The co-selling agent was Michael Boom of Knight Frank. 
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Development site in Sydney's Meadowbank sold for $3.5 million

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Dual Olympian and Commonwealth Games gold medallist Jane Flemming is selling her mixed-use three-level freehold property in Sydney's Balmain. 
The 6 Montague St property is set to go under the hammer next month, with price expectations of $3 million plus.
Agents Miron Solomons &amp; Henry Burke of Colliers International have been appointed selling agents.
The property is described as a mixed-use three-level freehold property which "presents a range of owner occupier opportunities or alternative uses such as a multi-unit residential development, hostel or restaurant conversion."
Currently the ground and first floors offer a space suitable for commercial/office use with high ceilings and polished floor boards and given the heritage of the building would present an ideal opportunity for a creative office headquarters, said the agents.
The top floor provides separately accessed New York loft style residential accommodation with Harbour Bridge and City skyline views and on-site parking for four cars is included.
The property is being offered with vacant possession but has potential for multiple income streams with four separate tenancies. It goes to auction on 18 June.
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Jane Flemming's mixed-use Balmain property to go under the hammer

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A Redcliffe mixed-used redevelopment site, with DA approval, has been listed through Ray White Commercial Queensland, coming with 32 residential units and a ground floor retail or office space.
At 11-13 Anzac Avenue, Redcliffe, the 1,646 square metre site is asking for expressions of interest, explained Ray White Commercial Queensland director of sales and marketing, Peter Alexander.
“The site is strategically located directly opposite the new Bluewater Square Shopping Centre Complex which is anchored by a Woolworths in addition to several specialty retail outlets,” said Alexander.
<img src="/images/2014/05/14/redcliffe-may-14-three.jpg" alt="">
The site includes views to Moreton Island, and Alexander notes it is close to the Kippa-Ring Railway Station that looks to be completed in 2016.
Meanwhile, Ray White Special Projects Queensland associate director Matthew Fritzsche said that it is highly sought after in this area, considered an ‘up and comer’ in Queensland.
“The Redcliffe waterfront is a picturesque location overlooking Moreton Bay and the Pier is a drawcard for tourists,” he said of the area.
Expressions of Interest on the site must be made by 4pm May 21.
<img src="/images/2014/05/14/redcliffe-may-14-two.jpg" alt="">
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