Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

Construction

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The erection of a tower crane for 233 East has seen the overall number of apartments under construction within Ringwood surge to approximately 600.

These 600 apartments are spread across seven separate apartment developments of varying sizes, yet the overall figure is representative of the underlying demand for apartment living in the outer eastern suburb. 233 East is at this stage the highest profile development to begin construction owing to its height and location.

Opposite Eastland and fronting Maroondah Highway, the LSA Architects-designed project will add just shy of 100 new apartments. At 10 levels it will also be the area's tallest apartment building upon completion.

<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/image105_0.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="302" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image105_0.jpg?itok=4_7fFuTv" width="580"></a>

<figcaption>233 East is at construction</figcaption></figure>The balance of projects at construction is located well back from Maroondah Highway in a pocket bound by Bond Street, Ringwood Street and the Ringwood Bypass.

Largest at construction is the tri-building Eden Square project; Head contractor Hamilton Marino is well into the build phase with the eventual outcome some 200 plus apartments adjacent to the Mullum Mullum Creek. Eden Square is noteworthy in that its premier residences managed to sell for $2.55m and $2.5m respectively.

Next in terms of size is Nelson Bourke Apartments at 1-7 Nelson Street. Builder Buxton has taken the floor plate above ground for the dual building development that will result in 111 apartments.

The balance of developments at construction adding to the 600 apartment figure includes Venus Apartments, Ark Apartments and The Edge Apartments.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/img_2525.jpg" rel="gallery-all" title="Nelson Bourke Apartments progress"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/img_2525.jpg?itok=O0hkrzfz" title="Nelson Bourke Apartments progress" width="580"></a>

<figcaption>Nelson Bourke Apartments progress</figcaption></figure>Another development due for a construction start is The Selection with Method Constructions signage up across the site. The builder is set to begin works on the Embrace Architects-designed project which includes 49 apartments and two ground floor retail tenancies.

The project's marketing campaign billed it as Ringwood's premier apartment development, which includes seven levels of living above two basement levels. The Selection's facade will predominantly consist of exposed concrete, charcoal steel frames, perforated metal screens and shaded glazing wraps.

Whilst the number of apartments under construction within Ringwood is at an all-time high, a newly assembled display suite has appeared at 33-35 Ringwood Street.

The display suite's arrival may well signify the signifying the imminent launch of the DKO Architecture-designed seven level apartment development that hit planning with 38 apartments in tow.

<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/rwdko.jpg" rel="gallery-all" title="33-35 Ringwood Street. Planning image: DKO"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/rwdko.jpg?itok=suHxqfRQ" title="33-35 Ringwood Street. Planning image: DKO" width="580"></a>

<figcaption>33-35 Ringwood Street. Planning image: DKO</figcaption></figure>
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silvermb

Ringwood's has 600 apartments under construction, as a new project nears launch

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Melbourne builders will begin running the ruler over one of 2018's largest construction tenders. Activated last week, the tender is for the delivery of two residential towers across 85-93 Lorimer Street which combined have the potential to add 940 approved apartments to the skyline.

The sizeable site behind Mirvac's Yarra's Edge spans 8,847 square meters and is adjacent to a new tram corridor that is currently being studied as part of the Fishermans Bend planning process.

Alongside the hundreds of new apartments across both towers, the successful builder will also be required to deliver as many as 778 podium car spaces plus amenities. 53,454 square meters of approved Net Saleable Area is included under the approved Elenberg Fraser-designed scheme.

Spanning 47 and 49 levels, it remains to be seen whether the $200 plus million construction tender will be true to the approved design, or will see design modifications implemented.

<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/image7_20.jpg" rel="gallery-all" title="Ready to go. Image: Elenberg Fraser"><img alt="" class="image-article-full-width-580px" height="708" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image7_20.jpg?itok=r9U87Z7h" title="Ready to go. Image: Elenberg Fraser" width="580"></a>

<figcaption>Ready to go. Image: Elenberg Fraser</figcaption></figure>Known as South Wharf Towers to date, the launch to tender hints toward an imminent retail launch of one or both towers.

Backed through planning by local developer Little Projects, the approved scheme was thereafter offloaded by the developer at the height of interest from Asian-based developers in the Melbourne property market. Selling agent Colliers made note during 2016 of a new Shanghai-based developer secured the development site for around $60 million.

Whilst it now shapes as one of the city's larger apartment projects in waiting, the final outcome will also see a substantial 2,100 square metre public park created, accounting for approximately one-quarter of the site. 

South Wharf Towers was initially submitted as a single 74 level apartment tower spanning 236 metres; at that height, it would have comfortably been Fishermans Bend's tallest building. Subsequent to negotiations with the State Government, the final result saw dual Elenberg Fraser-designed towers approved.

At the time of its approval, Minister for Planning Richard Wynne stated "this development reflects our vision for the future of Fishermans Bend, offering open space and well-designed apartments close to transport and services. We encourage innovative developers to put forward projects which we can be proud of decades after construction."

<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_8_0.jpg" rel="gallery-all" title="Silhouetted south Wharf Towers in an evolving built for context. Image: MGA Architects"><img alt="" class="image-article-full-width-580px" height="319" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image21_8_0.jpg?itok=jQX2slcD" title="Silhouetted south Wharf Towers in an evolving built for context. Image: MGA Architects" width="580"></a>

<figcaption>Silhouetted south Wharf Towers in an evolving built for context. Image: MGS Architects</figcaption></figure>
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Lorimer Street residential towers draw closer to launch with construction tender announced

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EXPERT OBSERVATION
The March 2018 quarterly construction figures from the Australian Bureau of Statistics indicate a slow-down in NSW while Victoria grows.
The latest construction figures indicate a slowing rate of work in NSW particularly for non-residential work.
When the figures are looked at on a per capita basis Victoria does seem to be building more than NSW. For total building in the March Quarter NSW construction was $1,145 per capita whileVictoria spent $1,343 per person.
In terms of residential construction over the March Quarter the per capita figures are$785 per person in NSW and $878 per person in Victoria.
On non-residential construction over the March quarter NSW expenditure was $270 per capita compared to the Victorian per capita expenditure of $339.
While both states are strong in long term measurements it does appear that Victoria is pulling ahead in overall construction dollars on a per capita basis.
It will be important for the NSW government to continue the excellent residential construction of recent years into the future by ensuring a good pipeline of projects in the planning system. There are concerns in the Sydney apartment market of a slow-down inpre commitments for apartments that could have an impact on housing supply.”
See below the graph of Total Building Value per Capita based on ABS seasonally adjusted data for the March 2018 quarter.
<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/C1.jpg" alt="">
 
CHRIS JOHNSON is the Urban Taskforce CEO.
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j.ballantyne1990-6AQqhLzZaK

Construction slowing in New south Wales but growing in Victoria

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Overall the Budget will boost confidence in the building and construction industry, according to Denita Wawn, CEO of Master Builders Australia. 
“The Government’s infrastructure Budget will play a key role in setting the nation up for future prosperity.
The additional $24 billion investment in infrastructure across the country will boost the productivity and liveability of our cities,” she said. 
“Small businesses will benefit from the extension of the $20,000 immediate tax write-off scheme until 2019. There are more SMEs in buiding and construction than any other industry and this great news for mum and dad building business and tradies,” Denita Wawn said. 
“The uncorporated small business tax discount rate will increase from 5 per cent to 8 per cent allowing SME builders to write-off their assets faster,” Denita Wawn said.
But lower house prices could hit the residential construction boom harder than expected, according to the Federal Government's Treasury department.
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Dwelling investment is forecast to rise slightly by 1.5 per cent next year before slowing further and remaining "largely flat" in 2019-20, Treasury estimates.
Residential construction is easing after reaching a peak of near 6 per cent of gross domestic product in the financial year ended June 2017.
Approvals are likely to keep dwelling investment "elevated by historical standards", according to Treasury, especially in New South Wales and Victoria.
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Treasury also noted a "reasonable pipeline of work" in commercial buildings, especially for offices in Victoria and New South Wales.
The 2018 Budget had no measures that specifically address housing supply and affordability, according to the Real Estate Institute of Australia (REIA).
“Whereas housing affordability was a centre piece of the 2017 Budget there was nothing in this year’s Budget that directly addressed this,” REIA President Malcolm Gunning said.
“It was however pleasing to see that the Government recognises the important role that the current taxation arrangements for negative gearing and Capital Gains Tax play in increasing supply, keeping rents affordable and easing the burden on social housing by leaving these unchanged,” he said. 
Mr Gunning said the Budget’s approach recognises the state of the property market and the impact that APRA’s measures have had in cooling the marking particularly in Melbourne and Sydney and the Treasurer has seen no reason to make any further adjustments. 
“A boost to infrastructure spending, modest improvements in housing income for lower income earners, continued tax write offs for small to medium business and growth in employment can be expected to be mildly expansionary, particularly for regional economies.
“The good news for home buyers is that the Budget is not expected to put pressure on interest rates as inflation is expected to remain within the RBA’s target zone.
“This expected interest rate stability comes at a time when housing prices in some of our major cities are showing signs of easing leading to improved affordability for first home buyers,” Mr Gunning.
 
</div>
 
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Residential housing construction could moderate due to falling prices: Treasury

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The flow of student accommodation projects into planning across Melbourne's inner suburbs has slowed considerably, allowing for the massive associated spike in construction to take its place in the spotlight.

With the effective completion of <a href="/buildings/scape-melbourne-393-swanston-street-melbourne">Scape Melbourne</a> on Swanston Street and Iglu at <a href="/new-apartments/iglu-229-franklin-street-melbourne">229 Franklin Street</a>, there are still nine separate projects under construction. These nine alone will yield thousands of new beds for tertiary students.

<h2>At construction</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/image157_2.jpg" rel="gallery-all" title="A small sample of student accommodation construction"><img alt="" class="image-article-full-width-580px" height="610" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image157_2.jpg?itok=iwhnISTM" title="A small sample of student accommodation construction" width="580"></a>

<figcaption>A small sample of student accommodation construction</figcaption></figure>Latest to construction is <a href="https://urban.melbourne/projects/melbourne/whitley-college-263-royal-parade-parkville">Whitley College</a> on Royal Parade. Builder Hacer has commenced early works across the site which will eventually see a new 6 storey building added behind the existing and unique circular brick building, for a total of 367 beds for GSA Australia.

Also in the starting blocks, UniLodge's 411-bed project across <a href="https://urban.melbourne/projects/melbourne/15-27-wreckyn-street-north-melbourne">15-27 Wreckyn Street</a> with LU Simon tasked with the build.

Beyond that, the balance of projects are at various stages of construction and are generally confined to Carlton and North Melbourne. The notable exception is <a href="/developments/melbourne-vic-3000">42-50 La Trobe Street</a> which is rapidly reaching its final height of 43 levels as builder Hickory utilises its HBS unitised building method onsite.

One of the tallest student accommodation towers anywhere, the development will see 783 beds built in studio, twin share and cluster formats.

<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/image159_3.jpg" rel="gallery-all" title="Atira La Trobe Street is approaching its highest point"><img alt="" class="image-article-full-width-580px" height="853" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image159_3.jpg?itok=ptVZZT-C" title="Atira La Trobe Street is approaching its highest point" width="580"></a>

<figcaption>Atira La Trobe Street is approaching its highest point</figcaption></figure><h2>All but complete</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/image158_0.jpg" rel="gallery-all" title="Scape Melbourne and Iglu's first local offering"><img alt="" class="image-article-full-width-580px" height="288" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image158_0.jpg?itok=kbhQE1-V" title="Scape Melbourne and Iglu's first local offering" width="580"></a>

<figcaption>Scape Melbourne and Iglu's first local offering</figcaption></figure>Two developments are ready for handover as final touches are being applied.

<a href="/buildings/scape-melbourne-393-swanston-street-melbourne">Scape Melbourne</a> is the operator's first local tower and sees approximately 700 beds all but completed at the hand of contractor Built. The Denton Corker Marshall-designed high-rise is a vanguard project of sorts, ushering in the city's first student housing as skyscraper development.

<a href="/new-apartments/iglu-229-franklin-street-melbourne">Iglu Franklin Street</a> is a 594-bed student accommodation building that also resides in the northern reaches of Melbourne's CBD. Builder Hacer carries images of the project's <a href="http://www.hacer.com.au/projects/residential/iglu-229-franklin-street-melbourne">completed internals online</a>, although finishing work is still being carried out.

<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/image162_0.jpg" rel="gallery-all" title="Inside Iglu Franklin Street. Image: Hacer"><img alt="" class="image-article-full-width-580px" height="721" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image162_0.jpg?itok=AyF8nO09" title="Inside Iglu Franklin Street. Image: Hacer" width="580"></a>

<figcaption>Inside Iglu Franklin Street. Image: Hacer</figcaption></figure><h2>Developments in waiting</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/image160_0.jpg" rel="gallery-all" title="500 Swanston Street and 135 Bouverie Street"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image160_0.jpg?itok=TA_1fVia" title="500 Swanston Street and 135 Bouverie Street" width="580"></a>

<figcaption>500 Swanston Street and 135 Bouverie Street</figcaption></figure>Pending projects are among some of Melbourne's tallest projects inching toward construction. <a href="/news/atira-hits-melbourne-as-further-student-accommodation-projects-line-up">Atira A'Beckett Street</a>, <a href="https://urban.melbourne/projects/cbd-west-end/183-189-abeckett-street-melbourne">Wee Hur's 183-189 A'Beckett Street</a> and GreenFort Capital's <a href="/news/488-elizabeth-street-turns-to-student-accommodation">478-488 Elizabeth Street</a> are among the tallest towers in Melbourne expected to start construction in the short to medium term.

Wee Hur's A'Beckett Street project stands to become Melbourne's tallest approved student housing project; the approved permit allows for a 58 storey tower spanning 178 metres.

Scape's intended tower at <a href="https://urban.melbourne/projects/cbd-east-end/97-franklin-street-melbourne">97 Franklin Street</a> was to have been the tallest student accommodation building on the planet at 199 metres, but has been rejected by the State Planning Minister. Whilst that project invariably goes back to the drawing board, Scape can pursue their freshly approved <a href="https://urban.melbourne/projects/melbourne/557-591-swanston-street-carlton">557-591 Swanston Street</a>; it will yield 870 new student beds.

The balance of projects looking to take their place in the skyline are via established operators. Iglu's <a href="/developments/south-yarra-vic-3141">South Yarra tower</a> is at construction tender, Melbourne University is backing both the <a href="/developments/carlton-vic-3053">Carlton Connect project</a> and <a href="/developments/carlton-vic-3053">625-631 Swanston Street</a> whilst UniLodge are looking to make good on another location at <a href="/developments/carlton-vic-3053">123-135 Bouverie Street</a>.

Not to be left behind is the Graduate Union of the University of Melbourne which is pushing for a new accommodation project at <a href="/developments/carlton-vic-3053">197-235 Bouverie Street</a>. The design has changed markedly since its initial submission and is now seeking approval for a mid-rise building sporting a new vivid exterior.

<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/carl1.jpg" rel="gallery-all" title="MGS Architects have designed 197 Bouverie Street"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/carl1.jpg?itok=FNFoXPb_" title="MGS Architects have designed 197 Bouverie Street" width="580"></a>

<figcaption>MGS Architects have designed 197 Bouverie Street</figcaption></figure>
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An overview of Melbourne's hyperactive student accommodation projects

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The next squadron of mid-sized apartment projects are closing in on a construction start if current build tenders are any indication.

With large-scale apartment projects in somewhat of a lull, small and mid-sized apartment projects have stepped in to absorb current demand. The varied locations of these projects at tender is also set to reinforce the continued proliferation of apartment developments to all corners of Melbourne.

First though a trio of projects that are being retendered due to the demise of contractor Project Group. Having gone to the wall during March, the builder has left a number of apartment projects and their respective developers in a bind.

Curve on Essendon North's Keilor Road was set to begin piling during March, whilst the builds on both Herbert King and Merri Green were in progress.

After a short hiatus the newly selected builders will seemingly have the apartment projects back on track in the weeks to come.

<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/image79_10.jpg" rel="gallery-all" title="Former projects under the control of Project Group"><img alt="" class="image-article-full-width-580px" height="480" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image79_10.jpg?itok=K3E76zlC" title="Former projects under the control of Project Group" width="580"></a>

<figcaption>Former projects under the control of Project Group</figcaption></figure>The remaining nine projects are dotted across Melbourne.

Burbank Group's Edge One in Werribee is at construction tender, with 100 apartments slated for the 10 level building. Apartments.com.au <a href="/news/burbank-advances-plans-for-werribees-riverbend-site">covered the planning application</a> at the turn of the year.

Also on Melbourne's periphery is Gibson Property Corporation's latest apartment release within Mason Point. Set for a public release shortly, the project's tender is for delivery of the final stage within the mixed-use precinct consisting of a six storey build; 55 apartments above multiple retail spaces at ground level.

Swinging to Melbourne's South East and two further projects have progressed to construction tender.

Mercuri at 8 Elliott Avenue Carnegie is poised to join the throng of apartment projects under construction in the immediate area whilst Balfour Development Group is ready to advance Malvern &amp; York. That project consists of 16 luxury apartments across 3 levels, and much like Mercuri it finds itself in the middle of much higher-density construction activity.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image88_7.jpg" rel="gallery-all" title="Mason Point, Malvern &amp; York and The Rochester are closing to"><img alt="" class="image-article-full-width-580px" height="285" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image88_7.jpg?itok=R0CV-WGv" title="Mason Point, Malvern &amp; York and The Rochester are closing to" width="580"></a>

<figcaption>Mason Point, Malvern &amp; York and The Rochester are close to beginning</figcaption></figure>The balance of projects are within inner city suburbs; Brunwick, Fitzroy, Abbotsford and North Melbourne are all set to see additional construction in the near future.

Breese Apartments in Brunswick was <a href="/news/emphasis-on-sustainable-design-for-milieus-latest-in-brunswick">highlighted earlier in the week</a> whilst 22-28 Courtney Street's sales campaign has seen it also advance to a build tender.

The remaining three projects all front Johnston Street. GURNER's The Spanish Club and The Rochester are both dedicated apartment developments in Fitzroy whilst 344 Johnston Street in Abbotsford is also at tender. The mixed-use scheme for the site was during August last year and looks to be edging closer to reality.
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A dozen mid-sized apartment projects inch closer to construction

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Another station precinct development authorised by VicTrack has slipped into construction mode.

Piling works have begun on the southern building adjacent to Jewell railway station, which is part of a development backed by Neometro that will deliver approximately 120 new apartments metres away from a refurbished station and concourse. The southern building will eventually front both Barkly Street and the station forecourt.

The MA Architects-designed Barkly Street building will rise eight levels and include over 70 apartments and a green rooftop area. 

<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/ext_south_snippet_final_lowres_copy.jpg" rel="gallery-all" title="Jewell Station's southern building is under construction. Image: NeoMetero"><img alt="" class="image-article-full-width-580px" height="352" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/ext_south_snippet_final_lowres_copy.jpg?itok=yQOUBdnY" title="Jewell Station's southern building is under construction. Image: NeoMetero" width="580"></a>

<figcaption>Jewell Station's southern building is under construction. Image: NeoMetero</figcaption></figure>Its move to construction has also seen the apartments within the second building dubbed 17 Union Street released for sale. BKK Architects are responsible for the design of the Union Street building, in addition to acting as master-planners for the entire precinct.

According to the architecture practice, VicTrack were swayed in the direction of their submission for the station precinct renewal due to their design led solution which incorporated the latest in community consultation, sustainable practices, integrated living and adaptability.

According to VicTrack Jewell station's upgrade will also be delivered as part of the initial build.

Meanwhile, Ormond Station's redevelopment is back on the agenda as developer DealCorp seeks to placate authorities in a bid to have the multi-level apartment project revived. Architects ClarkeHopkinsClarke originally devised a 13 storey tower for site.

<blockquote>
Following the removal of a level crossing on North Road, the development of this land and airspace will capture value within the site, making it possible for the delivery of key public infrastructure. Secondly it will serve as a link between the two existing retail precincts flanking the train line, generating an expanded offering and improved experience for local shoppers as well as better commercial opportunities for the current tenancies.

Thirdly, it will introduce a quality apartment style product into this established residential community with a more affordable entry point into the market.

ClarkeHopkinsClarke
</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/image317.jpg" rel="gallery-all" title="Ormond Station's initial 13 storey design. Image: ClarkeHopkinsClarke"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image317.jpg?itok=WlnCeQF2" title="Ormond Station's initial 13 storey design. Image: ClarkeHopkinsClarke" width="580"></a>

<figcaption>Ormond Station's initial 13 storey design. Image: ClarkeHopkinsClarke</figcaption></figure>The Victorian Parliament didn't see the project in the same light, electing to vote down the development primarily due to its height.

Earlier this month, The Age <a href="https://www.theage.com.au/politics/victoria/renewed-design-for-high-rise-ormond-tower-20180304-p4z2ry">reported </a>that DealCorp's intentions for the development were back on track, albeit minus three levels. Owned by VicTrack, the site is now likely to host a ten level mixed-use building consisting primarily of apartments, with a full line supermarket, specialty retailers, bike share facilities and civic plaza included.

After holding positive talks with the state opposition, DealCorp will likely submit revised plans to the Level-Crossing Removal Authority for Ormond Place later this month.

<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/image318.jpg" rel="gallery-all" title="Ormond Station's low-rise component. Image: ClarkeHopkinsClarke"><img alt="" class="image-article-full-width-580px" height="293" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image318.jpg?itok=Wnnmv-uk" title="Ormond Station's low-rise component. Image: ClarkeHopkinsClarke" width="580"></a>

<figcaption>Ormond Station's low-rise component. Image: ClarkeHopkinsClarke</figcaption></figure>
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Jewell Station apartments begin construction, Ormond Station tower lowered in height

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Standing dormant for years, Kinnears Footscray has finally begun its transformation into a mixed-use precinct.

Builder LU Simon has initiated works on Stage One of the project, which will be known as <a href="/buildings/live-city-124-188-ballarat-road-footscray">L.I.V.E. City</a>. Beating out other contractors such as Hutchinson and Hamilton Marino, LU Simon is tasked with delivering 208 apartments across 14 levels at the western most section of the massive 33,393 square metre site which is addressed 124-188 Ballarat Road.

Demolition works are in progress elsewhere across the site, gradually removing the structure that formerly housed the rope manufacturer. Architecture firm Elenberg Fraser are working on the master-planned precinct for developer R&amp;F Property Australia. 

Although a display suite onsite is ready, no public release of apartments has taken place as yet.

<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/image281.jpg" rel="gallery-all" title="Works across the Kinnears site with XO Projects' take on the development"><img alt="" class="image-article-full-width-580px" height="492" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image281.jpg?itok=BV_aStlz" title="Works across the Kinnears site with XO Projects' take on the development" width="580"></a>

<figcaption>Works across the Kinnears site with an early masterplanned image for the site</figcaption></figure>Meanwhile works across <a href="/buildings/victoria-square-8-hopkins-street-footscray">Growland's Victoria Square</a> site have begun following a January approval to amended plans for the development.

Six buildings consisting of 900 plus apartments, offices and extensive retail space can proceed. The $600 million project now has excavators onsite preparing for a construction start.

Amendments to the Kavellaris Urban Design scheme included bumping apartment numbers up to 931, increasing commercial floor space to 6,012 square metres and boosting parking spaces within the development to 1075. <a href="https://urban.melbourne/planning/2017/10/10/growland-pushes-footscrays-victoria-square-new-heights">Building heights were also marginally increased</a>, with the tallest to stand at 25 storeys.

Stage One of Victoria Square includes the delivery of 161 single bedroom, 265 dual bedroom and 28 triple bedroom apartments across two towers.

<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/image27_5_0.jpg" rel="gallery-all" title="The amended and approved Victoria Square. Image: KUD"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image27_5_0.jpg?itok=pVUNNQPH" title="The amended and approved Victoria Square. Image: KUD" width="580"></a>

<figcaption>The amended and approved Victoria Square. Image: KUD</figcaption></figure>With earthworks in progress, construction proper on Stage One of Victoria Square is slated to begin mid this year, with a completion target of 2020.

Either side of Victoria Square, construction is also in motion for two fellow Joseph Road Precinct projects. Blue Earth Group have initiated construction across 2 Hopkins Street, whilst Stage One of Riverina Footscray has recently topped out.

It will temporarily hold the title as Footscray's tallest residential tower until Victoria Square's first stage is completed. Future stages of Riverina will see two 31 level apartment towers also delivered.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_7067.jpg" rel="gallery-all" title="Riverina Footscray construction progress"><img alt="" class="image-article-full-width-580px" height="355" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_7067.jpg?itok=hE1vkpNG" title="Riverina Footscray construction progress" width="580"></a>

<figcaption>Riverina Footscray construction progress</figcaption></figure>
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Kinnears and Victoria Square add to Footscray's construction upswing

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Oracle, the US technology giant has announced it will buy the ASX-listed construction software group Aconex in a $1.6 billion deal. 
The deal, to be done under a scheme of arrangement, will see Oracle offer $7.80 a share.
The company was founded by Australians Leigh Jasper and Rob Phillpot has been described as one of the most-shorted stocks on the ASX. 
Phillpot and Jasper will get about $88 million and $92 million respectively from the deal.
"The Aconex and Oracle businesses are a great, natural fit and highly complementary in terms of vision, product, people and geography," Jasper said in a statement to the Australian stock exchange.
The offer represents a 47 per cent premium to Aconex's last close price. Its shares hit a peak of $8.28 mid last year.
The Aconex chairman Adam Lewis said the price offered by Oracle was strong. 
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Credit Suisse is acting as financial adviser to Aconex and Herbert Smith Freehills is acting as legal adviser. 
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</div>
Mr Jasper, who is also the chief executive of the company, will remain with the business under Oracle's ownership. 
Aconex is a Melbourne-based company founded in 2000. Aconex’s Australian operations achieved profitability six years later.
It was in 1998 when the idea arose for the old school friends Leigh Jasper and Rob Phillpot who played weekly squash games.
Phillpot was a project manager at Multiplex Constructions and Jasper, who had studied engineering and science at Melbourne, was working at the consulting firm McKinsey &amp; Company.
The Australian Financial Review noted the pair raised $2.8 million in 2000, mainly from QA Software, Probuild, and a number of private investors.
Their collaborative project management platform has been used on some of the biggest construction sites around the world, including the Panama Canal extension.
Clients include Brookfield Multiplex and Grocon.
It has 47 offices serving customers in more than <a href="https://www.aconex.com" target="_blank">70 countries</a>.
The shares started trading in 2014 at $2, up five percent on the final offer price of $1.90.
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The scheme booklet is expected to be sent to Aconex shareholders in late February 2018 with an approval meeting in late March. 
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Oracle seeks ASX-listed construction software group Aconex

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<div>
A joint construction company venture in Brisbane between the Chinese government-owned construction giant China Railway Construction Group's and construction company Rimfire Constructions has collapsed.
The joint venture formed by the two parties, CRCG-Rimfire Pty Ltd has been placed under voluntary administration, the Courier Mail reported last week.
Fairfax Media reported Grant Thornton has scheduled the first creditors meeting for Monday.
It was a big disappointment for the world's third largest construction company, according to a media statement by the company.
</div>
<div>"Unfortunately, the appointment of an administrator to Rimfire Constructions (Qld) Pty Ltd being the subsidiary of our joint venture partner, Rimfire Constructions Pty Ltd in September has now had a flow-on impact on the joint venture company, CRCG-Rimfire," the company said,</div>
<div> </div>
<div>"CRCG wishes to be a productive, long-term participant in the Australian construction industry."</div>
<div>
Rimfire Constructions was previously led by former Lendlease head of apartment construction Adam Moore and Danny Cain. 
In a report to the creditors of Rimfire Constructions, Mr Cain said Rimfire's troubles were caused by CRCG's refusal to pay for expenses incurred by the joint venture.
</div>
<div>The business, which was initially profitable, had cost overruns, the report said, but agreement between the two companies which indicated CRCG would reimburse the JV costs ahead of regulatory approvals was not honoured, Mr Cain said.</div>
<div> </div>
<div>CRCG disputed the debt of $1.169 million and a CRCG spokesperson vehemently rejected the claims.</div>
<div>
"The company is confident the voluntary administrator will get to the bottom of all transactions and that CRCG's position will be vindicated," he said.
"We now find ourselves in a situation where the directors had little choice but to place the company into voluntary administration," CRCG said.
</div>
<div>
The biggest creditors in the JV fallout were subcontractors, material suppliers and employees, the joint venture's administrator, Grant Thornton's Michael McCann, said.
The joint venture had about six building contracts for apartment projects across Brisbane by unrelated developers.
The company had worked on an apartment complex at Greenslopes and a high-rise unit block in Baxter St, Fortitude Valley.
The Beijing-based CRCG has completed projects outside China, including the Four Seasons Hotel in Kuala Lumpur, a power project in Papua New Guinea and a 240 residential village in Saudi Arabia.
One of the largest companies in China and in the world, the $28 billion CRCC, has been responsible for large projects such as the Beijing-Shanghai High-speed Railway.
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