Preliminary data by research giant Charter Keck Cramer reveals a 54 per cent decline in Build to Sell apartments across Australia's capital cities, while the Build to Rent boom continues with a 378 per cent increase over the last five years.

Charter Keck Cramer's upcoming National State of the Market Report - Key Metropolitan Areas, scheduled for release in September, will reveal&nbsp;a dramatic transformation in apartment supply patterns across Australia's capital cities between FY2016-2020 and FY2021-2025.

The Build to Sell (BTS) apartment sector has experienced a substantial contraction, with total supply falling by 54 per cent compared to the previous five-year period. The decline represents a reduction of 149,200 apartments across all capital cities.

<img alt="BTS Charter Keck Cramer" data-entity-type="file" data-entity-uuid="3db2ddf3-e7c0-481f-b8b9-63efb365cb80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-20%20at%2011.26.34%E2%80%AFAM.png?VersionId=bsQl8inhZA7FeiPamnGvw1tse0obBdSd" />

Sydney led the downturn with a decrease of 73,600 apartments, followed by Melbourne (-42,800) and Brisbane (-26,800). Perth and Adelaide also recorded significant declines of 6,400 and 2,400 apartments respectively. Only Gold Coast and Canberra bucked the trend, with modest increases of 500 and 2,300 apartments.

In stark contrast, the Build to Rent (BTR) sector has emerged as a major force in the apartment market, recording a remarkable 378% increase in supply. This growth added 8,590 apartments across the capital cities during FY2021-2025. Melbourne dominated BTR growth with 6,160 additional apartments, while Sydney contributed 2,100 units. Brisbane and Canberra also recorded growth of 800 and 330 apartments respectively. Gold Coast and Perth recorded minor declines, while Adelaide maintained steady levels.

<img alt="BTR CKC" data-entity-type="file" data-entity-uuid="ca13ffd4-ab93-4828-afd2-4c3dccbd2b51" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-20%20at%2011.28.54%E2%80%AFAM.png?VersionId=SXNnpcJuFD36ViWOwF6izBBqcQc3NWao" />

“These preliminary findings indicate a fundamental shift in Australia's apartment development landscape, with traditional Build to Sell models giving way to institutional Build to Rent developments,” said Richard Temlett, Charter Keck Cramer’s National Executive Director of Research.

"This transition reflects changing investor preferences, regulatory environments and housing affordability challenges across major metropolitan areas.”

The complete Charter Keck Cramer National State of the Market Report – Key Metropolitan Areas will provide comprehensive analysis of these trends, their underlying drivers and implications for developers, investors and policymakers when released in September.

Joel Robinson

Build to Sell apartment supply drops 54% in five years across Australian capital cities

Verso Development Group is seeking to bring over 1,100 apartments to the heart of Brisbane's Toowong, with plans filed for a $1 billion, triple tower development known as Toowong Central.

The landmark urban regeneration project "aims to reshape the core of Brisbane’s inner-west riverside suburb."

Covering over 1.4-hectares across&nbsp;Sherwood Road, High Street, and Jephson Street, Toowong Central has been designed by KHA and will comprise three towers rising 49, 55, and 58 levels.

<img alt="Toowong Central" data-entity-type="file" data-entity-uuid="48611e3d-7123-4b99-b2cb-bfa4bc98024f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenities.png?VersionId=yKBexB.BgCkq4OET8fHDkWs0d3DjxOKJ" />

According to the Urban Context Report prepared by Urbis, Toowong Central is positioned as a “city-defining precinct reclaiming Toowong as ‘the best destination in the west’,” with a vision to deliver density differently, strengthen Toowong’s identity, and lead subtropical urban design.

There will be a wide range of apartment configurations, from one-bedrooms to five-bedroom penthouses, as well as short-term accomodation offerings. The design prioritises pedestrian permeability, with an activated public realm featuring a central civic plaza, laneways, and street-level retail and dining.

“The central square’s structure, programming, scale and location creates a social anchor - shaped by its edges, flexible for use, and animated by a diversity of experiences throughout the day and into the evening,” the Urban Context Report noted, reinforcing the project's ambition to become a vibrant community destination.

Design excellence was pursued through an international design competition, attracting entries from renowned practices such as UNStudio and BIG. KHA’s winning design distinguished itself with a ceremonial approach to the public realm, integrating terraces, tiered seating, and green infrastructure to promote social interaction and resilience.

The development builds upon two existing approvals: the 25- and 20-storey towers of the Aviary Toowong proposal, and a separate 25- and 24-storey approval at 88 Jephson Street. Consolidation of these fragmented landholdings under a precinct-wide approach allows for increased community value and cohesive urban integration.

Urbis Director Nicholas Stevenson said Toowong Central will bridge the gap in Toowong's current experience, unlocking the potential of the wider precinct.

"Overcoming experiential constraints and leveraging contextual advantages – Toowong Central will redefine Brisbane's inner west.”

<img alt="Toowong Central" data-entity-type="file" data-entity-uuid="73f7a702-625d-452d-9df2-30a0863ac1e8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/master.png?VersionId=TZdh6wxGC_8IIroXpdkZfuhlS8mFZnea" />

Toowong Central’s ambition extends beyond residential and commercial outcomes. Uses under consideration include a world-class hotel, university facilities, a museum, and health and wellness services, reflecting its role as a western gateway to Brisbane’s growing innovation corridor between the CBD and the University of Queensland.

Urbis Managing Partner James Tuma said Brisbane has no greater opportunity to showcase the future of urban living than Toowong – a sustainable, economically vibrant, and people-centric place that embodies the best of Brisbane.

[The plans] gives us a glimpse into our future as a globally relevant, youthful, entrepreneurial, and distinctly subtropical city.”

$1 billion Toowong Central to deliver 1,100 apartments to undersupplied Brisbane market

In <a href="https://www.apartments.com.au/developments/runaway-bay-qld-4216">Runaway Bay</a>, new townhouse-scale waterfront residences are rare - but ones built to the standards found on Sovereign Island are almost unheard of.

<a href="https://www.apartments.com.au/new-townhouses/ocean-suites-on-jennifer-10-12-jennifer-avenue-runaway-bay-qld-4216">Ocean Suites on Jennifer</a>&nbsp;changes that, delivering a calibre of construction and detailing that places its seven villas well above the typical market offering in this northern Gold Coast pocket.

Ocean Suites on Jennifer will be move-in ready before Christmas this year, giving buyers the chance to spend the summer on the water in one of Runaway Bay’s rare new waterfront residences.&nbsp;

[smartcode_project:default project_id=138718 project_image_fid=214444]

The development is a collaboration between <a href="https://www.apartments.com.au/architects/stuart-osman">Stuart Osman Design</a> and <a href="https://www.apartments.com.au/developers/sand-side-developments">Sand Side Developments</a>, with construction by <a href="https://www.apartments.com.au/builders/alroe-constructions">Alroe Constructions</a>.

Architect Stuart Osman says the intent from the outset was to create a home people would be drawn to. “When you build anything, the design is to make you want to go hang out in this house,” he says.&nbsp;

Ocean Suites on Jennifer’s design features a front façade softened with planter boxes, rear pool areas, and rooftop decks looking over the water.&nbsp;

Inside, voids and high skylights bring daylight deep into the centre of each home, while ceiling heights of 2.85 metres maintain a strong sense of volume.

Each four-level residence spans 345 to 388 sqm, with layouts accommodating multi-generational living - a ground-floor bedroom suite for older family members and upper levels for the rest of the household. A lift connects all floors.

[smartcode_project:default project_id=138718 project_image_fid=214435]

For Andrew Erwin, Director at NPA, the project’s appeal lies in both its location and the detail in execution.&nbsp;

"At Ocean Suites, you’ve got a canal-front setting with direct Broadwater access and a level of finish you’d normally only see in the city’s most prestigious addresses. The four-level layouts, the glass-framed living areas, the private pools, even the extended kitchens, every part of it has been designed with the buyer in mind,” he says.

Those buyers have so far been a mix of Gold Coast locals and interstate purchasers, many seeking a lock-up-and-leave holiday home or a downsized residence without sacrificing space for visiting family.&nbsp;

Older households with teenage children are a recurring profile, drawn to layouts that support multi-generational living and the ability to host extended stays.

[smartcode_project:default project_id=138718 project_image_fid=214432]

Material selection reinforces the project’s quality-first ethos, with every home appointed to a premium standard. Kitchens and ensuites feature engineered stone surfaces, complemented by prestige oak engineered timber floors, Victorian ash hardwood staircases, and soft loop-pile carpet.

Premium lighting, statement pendants, ceiling fans, and Fujitsu ducted air conditioning elevate both comfort and design. Each residence also includes a suite of high-end appliances as standard - Fisher &amp; Paykel integrated fridges, Bosch ovens, induction cooktops and dishwashers, Vintec wine fridges, and Franke sinks.

Beyond the interiors, residents enjoy an enviable lifestyle with rooftop terraces, private plunge pools, fire pit areas, outdoor showers, smart home automation, laundry chutes, and private pontoons.

[smartcode_project:default project_id=138718 project_image_fid=214452]

With no additional upgrade costs, Sand Side Developments underscores its no-shortcuts approach, delivering homes where luxury and amenity come as standard.

Osman adds that the kitchen has been designed as “the main hub of the house” with six metres high skylights above a galley-style layout that “makes it feel bigger, brighter, whiter” and “brings light into the centre of the home.”

Both architect and builder emphasise a shared commitment to delivering the intended design without compromise. “Working with Alroe’s structural team and their construction team, it’s been great to make sure that the look and feel that was originally intended is the result achieved at the end of the project,” Osman says.&nbsp;

[smartcode_project:default project_id=138718 project_image_fid=214453]

Outdoor living has been given equal consideration, with rooftop terraces designed for entertaining with a fire pit and bar, and spacious undercover patios featuring private plunge pools.

The marine access is as carefully executed as the homes themselves. An eight-metre gangway leads to a six-metre private pontoon capable of mooring vessels up to 30 feet, just 300 metres by water from the Broadwater.&nbsp;

Even the orientation of each villa has been optimised to capture long views down the canal, across the Broadwater, and south to Main Beach.

With construction in its final stages, just three of the seven villas remain, priced from $3.365 million to $3.695 million.

[smartcode_project_cta:default project_id=138718]

Sovereign Island standards come to Runaway Bay with Ocean Suites on Jennifer

Without local developer <a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>, it could be argued that the small suburb of <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a> would be left behind when it comes to both new housing and retail opportunities.

Gardner Vaughan, one of South East Queensland’s most reputable builder-developers, has been based in <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a> for the last decade. They plan to maintain their presence in the northern <a href="https://www.apartments.com.au/developments/brisbane-qld">Brisbane</a> suburb, just seven kilometres from Brisbane Airport and nine kilometres from the city, with the development of <a href="https://www.apartments.com.au/new-apartments/danby-lane-nundah-village-5-danby-lane-nundah-qld-4012">Danby Lane</a>, the first major project in several years in the heart of the town centre.

GVG will retain one of the commercial spaces in the new mixed-use building for their office headquarters. It will be located in the commercial podium, alongside several other new office spaces. Below will be a street-level retail precinct designed to reinvigorate the local economy, and above, 84 brand-new apartments.

[smartcode_project:default project_id=112531 project_image_fid=320114]

Over 60 percent of the apartments have already been snapped up, with buyers eager to secure one of the rare new apartments in <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a>, as well as to benefit from Gardner Vaughan’s solid reputation and long-standing presence in the local community.

[smartcode_project:default project_id=112531 project_image_fid=320117]

Gardner Vaughan identified the site at the corner of Buckland Road and Danby Lane for its proximity to key amenities. Within 400 metres of the development, <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a> Village offers a variety of cafes, restaurants, and pubs. <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a> Train Station, just 400 metres away, provides a quick 20-minute train ride into Roma Street.

The development has also attracted young families, drawn to the proximity of not one, but twelve parks, with Boyd Park and Oxenham Park being the most notable. Established families have shown interest due to the close proximity of <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a> State School and Mary MacKillop College.

The one- and two-bedroom apartments in the building have already been snapped up, while the larger three- and four-bedroom apartments—ranging from a generous 117 sqm to nearly 200 sqm—remain highly sought after. There are also just three exclusive luxury penthouses left to sell.

With its in-house construction capability, Gardner Vaughan has already commenced construction on-site and expects to complete the building by March 2027. It's hard to see another opportunity to buy brand new in <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a>, where creating a site anywhere near the scale of the Danby Lane is becoming more and more difficult.

[smartcode_project_cta:default project_id=112531]

Why Danby Lane is the focal point for change in Brisbane's Nundah

<a href="https://www.apartments.com.au/developers/metro-property-group">Metro Property Group</a>’s flagship townhouse development, Citrine Townhomes in <a href="https://www.apartments.com.au/developments/rochedale-qld-4123">Rochedale</a>, has reached another key construction milestone, with the first stage of townhouses now in the defects phase.

All building works for Stage 1 are complete, with the internal roads asphalted, line marking finished, and the bin store slab poured.&nbsp;All essential services, including permanent power, sewer, gas, and water, are now connected and operational.

The defects process is expected to continue until late-August.

<img alt="Citrine Townhomes, Rochedale" data-entity-type="file" data-entity-uuid="f48ad1d8-7bb2-424a-a378-2caa4d34c27d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/017%20-%20%20ROLLEY%20PHOTO%20MEDIA%20%20%20-24072025.jpg?VersionId=o5BC3LgYTwxcufsjldO8mkPww3gix1NC" />

Stage 2 is also moving forward steadily, with all townhouses sheeted, the first coat of paint applied, and joinery installed throughout. Tiling has been completed on six of the seven blocks, and the pool is scheduled to be pebblecreted by the end of August.

Stage 3 continues to gather momentum, with external cladding completed on three of the eight blocks. All townhouses have been fully roughed-in for electrical, plumbing, and air conditioning, and the first two blocks have now progressed to internal sheeting.

Stage 1 and 2 are 100 per cent sold and there are now just 10 four-bedroom townhomes left in Stage 3, priced from $1,125,000.

[smartcode_project:default project_id=136295 project_image_fid=211]

Residents at <a href="https://www.apartments.com.au/new-townhouses/citrine-townhomes-rochedale-311-gardner-road-rochedale-qld-4123">Citrine Townhomes</a> can also look forward to high-quality shared amenities. The residents' facility will feature a pool, landscaped areas, and a BBQ space, contributing to a lifestyle-focused community environment.

Metro’s fully furnished display home has generated strong interest locally, reinforcing the market’s confidence in the project. Stage 1 and 2 are completely sold out and Stage 3 has officially launched and is selling fast. Just 10 townhouses remain for sale in the development.

[smartcode_project:default project_id=136295 project_image_fid=273134]

The broader Citrine development comprises 90 three and four-bedroom townhomes designed across two to three levels, offering a contemporary contrast to Rochedale’s surrounding single-family homes.

Located just 17 km from Brisbane CBD, Citrine is within walking distance to schools, parks, and the popular Rochedale Village, home to Coles, medical services, and dining options.

Metro Property Group remains on track for project completion, with settlements forecast for Stage 1 in October/November 2025, Stage 2 in November/December 2025, and Stage 3 in January/February 2026.

[smartcode_project_cta:default project_id=136295]

First stage of townhouses at Citrine Rochedale reaches completion milestone

ICD Property

Melbourne-based developers ICD Property will transform the city's skyline with their currently under construction tower, Aspire Melbourne.

Overlooking some of the city's most sought after views, the slender tower will soar 211 metres above Flagstaff Gardens when completed later this year. It will bring a much needed supply of 565 apartments, a mix of one, two and three-bedroom units. A number of the lower level apartments have already settled, as construction approaches its latter stages.

Merging the golden epoch of the past, the architects at Elenberg Fraser have designed Aspire to bring a new chapter to Melbourne's history.&nbsp;

[smartcode_project:default project_id=2575 project_image_fid=79454]

Designed with a unique curved structure, the building features floor-to-ceiling glass and a bulging shape near the top, creating a facade that draws in light from every angle.

The convex and concave details accentuate the curvature of the tower, making it a magnificent sight to behold.

The apartments feature natural material selections with light and restrained colour palettes, which allow residents to connect with the delicate forms and textures.

The bespoke metal elements in the apartments reference precious metals from the gold rush era, while the split-stone surfaces hint at the verdant nature of the surroundings.

Aspire Melbourne's internal design makes it feel like a small and intimate complex, with separate lobbies and common areas designated for different residences. On offer to residents will be an indoor pool, spas, a gym, multiple private dining and lounge areas, a library, meeting rooms, and co-working spaces.

[smartcode_project:default project_id=2575 project_image_fid=79462]

Aspire Melbourne is located in the heart of one of Australia's most vibrant cities, with an array of cafes and restaurants just steps from the tower, while there's also nearby sport and culture precincts, such as Marvel Stadium and the National Gallery of Victoria just moments away.

One-bedroom apartments are priced from&nbsp;$564,500, while the two-bedders start at just over $1 million.&nbsp;

The three-bedroom apartments at Aspire are the only offering to include a car space, with prices from&nbsp;$1.675 million, while a more spacious three-bed, three-bathroom and three car space apartment spanning&nbsp;291 sqm has a price tag of $5.2 million.&nbsp;

[smartcode_project_cta:default project_id=2575]

Merging the golden epoch of the past, the architects at Elenberg Fraser have designed Aspire to bring a new chapter to Melbourne's history

alisonwarters@gmail.com

ICD Property's Aspire Melbourne to transform city skyline

The Melbourne-based developer, ICD Property, are readying a second mixed-use hotel and apartment tower in the Sydney CBD.

The project at 372 Pitt Street, toward the Haymarket end of Pitt Street near World Square, will be&nbsp;a joint venture between ICD and&nbsp;Belingbak, who appear to be a development arm of new investment firm Belingbak Capital Partners.

Woods Bagot has put together the plans for a 54-level tower,&nbsp;subject to change as the stakeholders continue to work through the architectural design and optimisation process.

<a href="/new-apartments/sydney-nsw">To track this development and be updated on its next stage, enquire here.</a>

<img alt="" height="865" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/icd_pitt_st_sydney_main.jpg" width="1200" />

The&nbsp;project put forward to council, currently valued at around $156 million,&nbsp;is expected to see&nbsp;just a small collection of just 28 apartments, which at the moment start from about level 40, up to the top of the tower. Current plans are for just two apartments per floor from&nbsp;levels 40 to 52,&nbsp;a mix of two and three-bedroom units.

The top two levels are set to&nbsp;home two full-floor, four bedroom penthouses.

There&#39;s expected to be around 288 hotel rooms, running at nine per floor from level seven to 38.

<a href="/new-apartments/sydney-nsw">To track this development and be updated on its next stage, enquire here.</a>

Residents&nbsp;will have access to the extensive amenity which comes in the mixed-use hotel/apartment concept, with a gym, function room and cinema located on level four, a restaurant and bar&nbsp;with a full width terrace on level three, and a ground floor cafe.

&quot;372 Pitt St will be a monumental addition to Sydney, one that blurs the distinction between personal life and leisure as we strive to bring a first to market hotel and hospitality offering to Sydney &ndash; that is inspired by the diversity of people, local character and originality of the streets and scenes that surround us,&quot; the submission to the City of Sydney Council read.

<img alt="" height="1525" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/icd_main.jpg" width="1200" />

&quot;The team&#39;s vision will bring to Sydney a hotel offering with global character and attraction.

&quot;The new hotel through design, brand, and operation will be a catalyst for the precinct delivering quality architecture, urban activation, social and accommodation opportunities and increased job creation.

&quot;It will provide for the increasing tech community at Central and continue to grow the active centre of the CBD towards the south.

&quot;Our proposal is a unique opportunity for increased city amenity and global identity.&quot;

<img alt="" height="1558" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/icd_2.jpg" width="1200" />

ICD, led by Matt Khoo, are working on another mixed-use hotel apartment development <a href="/news/nsw/sydneys-city-tattersall-redevelopment-gets-sign-off-for-apartment-and-hotel-project">just up the road at the popular City Tattersall Club</a>.

That will see the scales tipped toward apartments over the hotel room component, with 241 apartments and 101 hotel rooms to be developed at the 194-204 Pitt Street address.

The 50-storey tower is another joint venture, this one&nbsp;alongside the Singapore-listed First Sponsor. Late last year the project, designed by BVN Architecture with fjmt studio overseeing all heritage designs, received the green light from the&nbsp;Central Sydney Planning Committee.

Woods Bagot has put together the plans for a 54-level tower, subject to change as the stakeholders continue to work through the architectural design and optimisation process

ICD Property plan another Sydney CBD mixed-use hotel and apartment tower

The Melbourne-based developer ICD Property have taken out three awards at the 2021 International Property Awards.

The three awards were for their 65-storey Melbourne CBD tower, Aspire Melbourne, which will stand over 200 metres high from its King Street position&nbsp;when completed at the start of 2023.

Aspire won the awards for the Best&nbsp;Residential High-Rise Development in Australia, the Best Residential High-Rise Architecture in Asia Pacific, and the 5-Star Best Residential High-Rise Architecture in Australia.

[smartcode_project:default project_id=2575 project_image_fid=79445]

ICD Property&#39;s Managing Director&nbsp;Matt Khoo told Apartments.com.au that winning the awards was a great recognition of Aspire Melbourne&#39;s truly unique offering.

&quot;There is genuinely nothing else in the market like Aspire Melbourne available at the level of quality and amenities that Aspire has,&quot; Khoo says.

&quot;Specifically, being labelled the Best Residential High-Rise building in the whole Asia Pacific region for Architecture is a huge achievement for the team, particularly our architects Elenberg Fraser who have done an incredible job designing the tower&rsquo;s elegant, sleek curvature fa&ccedil;ade to offer as many apartments stunning outlook views of Flagstaff Gardens, Melbourne&rsquo;s skyline, and the open Docklands bay area.&rdquo;

[smartcode_project:default project_id=2575 project_image_fid=21309]

Hickory Group are currently constructing the 210 metre, 534 apartment tower which is slated for completion in early 2023.

Aspire has been developed&nbsp;by ICD in partnership with MaxCap&nbsp;Group, with interior design guru David Hicks handling the interiors of the upper 73 apartments known as the Aspire Residences.

[smartcode_project:default project_id=2575 project_image_fid=79467]

Aspire will home some of the most impressive amenities that can be found in a residential development.&nbsp;

There&#39;s set to be a whiskey parlour, champagne conservatory, library and co-working lounge, gym, spa, sauna, hydro pool, grand ballroom, and several dining rooms.

[smartcode_project:default project_id=2575 project_image_fid=79456]

It was the 30th year the International Property Awards were held, with judging from an independent panel of 70 industry experts.

[smartcode_project_cta: project_id=2575]

ICD Property's Managing Director Matt Khoo told Urban.com.au that winning the awards was a great recognition of Aspire Melbourne's truly unique offering.

ICD Property's Aspire Melbourne wins big at the 2021 International Property Awards 

<html><body>
Building sustainably should be at the forefront of all building development. However, with a multitude of financial obligations, it can become a 'nice-to-have' rather than a 'must-have' for many developers. If we're to meet global carbon reduction goals over the next 10 to 20 years, we really need to see this paradigm shift.

With experience in both finance and property, Matt Khoo has a knack for finding the perfect balance between investing in sustainable building materials, selling homes at an affordable price and still maintaining the profitability of his business. How? There's no clear-cut formula, but Matt shared with us some valuable insight into how he measures the feasibility of ICD Property's projects.

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/JWmKCZr9DgQ" width="660"></iframe>

Interviewee: Matt Khoo, Managing Director at ICD Property 

Journalist: Urban Editor, Olivia Round

Key talking points:

0:29 - How Matt got into property and finance

1:34 - Risk in property development

1:48 - How sustainable design enhances the lives of residents

4:17 - Incentives for developers to build sustainable developments

5:40 - Roadblocks for developers to create sustainable developments

7:21 - Do buyers want sustainable homes and services?

9:12 - Future sustainable initiatives ICD Property are going to be rolling out

10:04 - Finding the perfect balance between building sustainable homes which are affordable, whilst also maintaining the profitability of your business

12:26 - How to communicate to buyers the value of paying more for a sustainably built home

13:41 - Increased buyer interest in sustainable homes (in recent years)

14:21 - Challenges of building large-scale sustainable projects

16:05 - How does living sustainably extend beyond "going green" (recycling, solar etc.)

17:35 - Creating a sustainable investment

18:36 - Matt's view of what the national benchmark should be for sustainability in Australia

20:57 - The value of investing in extra amenities such as garden areas

22:12 - How Matt would like to see Australia's housing look in 10 to 20 years time

Lead image: Matt Khoo, Eq. Tower. Credit: Elenberg Fraser.
</body></html>

Olivia Round

ICD Property's Matt Khoo discusses the cost of sustainability in property development

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Recently we had a chat to ICD Property's Development Director Alice Smith about how ICD is adapting as a result of COVID-19, advice for buyers looking to purchase in the current market and the future of property in Australia once COVID-19 is over. 

Urban.com.au: What are the key changes ICD Property has noticed in the market as a result of COVID-19? 
  
Alice Smith: As COVID-19 continues to develop as do the changes we’re seeing in the <a href="/expert-insights/buying/changes-the-real-estate-industry-will-experience-as-a-result-of-the-coronavirus">property market</a>. For instance, due to Government restrictions that came into place quite early encouraging people to stay home, one of the first changes we noticed in the property market was lower foot traffic in display suites and sales centres.  
  
Due to more people staying indoors. In response, however, online <a href="/guides">property listings</a> started experiencing an upward trend of visitation. Similarly, project websites and requests for information online such as brochures, pricing lists, etc. have become more popular and seen more demand.

U: How is the business pivoting its strategy to account for the current restrictions surrounding social distancing and isolation requirements? 
  
AS: The number one priority for us at the moment is the health and safety of our staff, partners, consultants, and purchasers. And we’ve taken appropriate actions to protect all these groups whilst upholding the Government’s <a href="/guides/covid-19-is-it-possible-to-practise-social-distancing-at-home-absolutely">social distancing requirements</a>. For instance, last Wednesday 15 April marked 5 weeks of all <a href="/developers/icd-property">ICD Property</a> staff working from home.  
  
The leadership team decided quite early in the best interest of our staff and those we work with, we would implement a few rules including: a travel ban eliminating staff requirements for any domestic and international work-related travel; and indefinite work-from-home for all staff. We also immediately transferred all in-person meetings with partners and consultants to digital video call meetings to protect those we work with too. In relation to purchasers, we minimise the number of people in our sales centres and display suites at any one time by changing their opening hours to be by private appointments only.  
  
On top of increasing the cleaning of these sites to include regular additional hospital-grade sanitation. We’re now focusing on doing everything we can to ensure we’re fully able to service our purchasers and other stakeholders with the best remote customer service experience as they would experience in person. Another way we’re doing this is by offering purchasers video-call conferences with sales agents across all our projects so they’re able to still take them through marketing brochures, available stock, and find the perfect future home.

U: What advice do you have for buyers who are considering buying property in the current market? 
  
AS: Of course there’s never one umbrella piece of advice to apply to everyone, so I think my biggest piece of advice for buyers right now would be to <a href="/expert-insights/buying/is-buying-new-the-right-move-in-2020-a-perspective-from-a-property-strategist">assess what is right</a> for them in their situation. Short, medium and long term. Of course, the record low RBA cash rate cuts that we’re starting to slowly see be passed through the banks means purchasers at the moment can take advantage of some of the cheapest mortgage interest rates we’ve ever seen. Or that we’ve seen in a long time.  
  
It can be enticing and further assist those who are wanting to purchase their <a href="/guides/how-to-buy-a-house-in-2021-a-guide-for-first-time-home-buyers">first property</a> by cutting a bit off their monthly repayments. It’s also advantageous to those wanting to refinance their current home or investment property. Staying on top of market news and having a good understanding of your own personal position is my best tip for property purchasers at all times, not just in this new COVID-19 environment.

U: What extra precautions is ICD Property taking to ensure the health, safety, and wellbeing of their staff and clients? 
  
AS: As previously mentioned, we are enforcing social distancing by implementing indefinite work from home. However, of course, we understand working from home can be difficult for some people who lack the right equipment or perhaps have children. To help transition staff into their new working environments, ICD Property’s incredible HR team Hayley Randall and Laura Burgess quickly conducted formal work-from-home surveys to assess the functionality and safety of each staff’s environment. They then went on to provide additional equipment such as monitors, keyboards, mouses, ergonomic chairs, internet, etc. to those who needed it. 
  
On a company level we’ve cancelled all corporate events including training, speaking opportunities, marketing events, and the like. It’s important to us that if we aren’t asking our staff to attend business travel and events, then we aren’t asking our consultants to do the same. We’re also ensuring all our construction sites stay up-to-date with Government guidelines such as social distancing rules. Which is something that continues to change and we monitor each day. 
  
Acknowledging that this time can be tough for some and lead to feelings of isolation and being disconnected, we’re implementing a lot of things to keep up staff morale, culture, and mental wellbeing including:

<ul>
<li>Bi-weekly confidential phone call check-ins with HR</li>
	<li>Online group training sessions with experts in the fields of resilience, stress management, health, and the like.</li>
	<li>Replicating an in-office setting as much as we can with the online program ‘Discord’ which allows us to set up virtual rooms and have casual online conversations like we would in the office (for example, we have created a ‘Kitchen’ room for people to have their morning coffee in and most mornings you can find multiple staff in their having a morning chat before they go on with their work).</li>
	<li>Maintaining one of our oldest traditions which is doing The Age’s daily super-quiz in the kitchen by now doing it every Monday – Friday on video conference together and sharing lunch.</li>
	<li>Friday 5pm virtual games and drinks to ease into our weekend and catch up. We also use this as an opportunity to share positive news across the company such as milestones, achievements, and praising one another.</li>
	<li>Encouraging all staff to once a week get on a phone/video call with someone else in the office just to catch up and keep one another company.</li>
	<li>HR team doing lots of surveys across multiple fields such as the safety and user-friendliness of each staff’s home office (and providing equipment where needed such as monitors, wifi dongles, etc.), mood/mental wellbeing of staff, etc.</li>
	<li>Regular updates from the leadership team to reassure staff of the company’s position and create some transparency and certainty for staff</li>
</ul>
U: What support are you hoping to receive from advocacy groups such as the PCA and UDIA, and the Australian Government? 
  
AS: It’s difficult to pinpoint any one outcome as the situation is constantly evolving. What we’d hope to see is advocacy groups and the Government working hand-in-hand for the best outcome of all Australians. Which we’re already starting to see the beginnings of with advocacy groups and Government meeting regularly and sharing their mutual interests to stimulate the economy and keep people in jobs as much as possible. ICD Property’s Deputy Managing Director, Sal Quah, is actually a Property Council of Australia member of their Future Directions committee and hopefully through that relationship ICD will be able to provide some assistance and leadership to the industry as needed.

U: What are you planning as a business once COVID-19 restrictions are lifted? 
  
AS: To date, we’ve been business as usual (understanding that times are very much unusual) and of course, there have been necessary pivots and methods of adapting, but we will continue to be flexible to the changing environment and innovate our approach as needed. I’m sure once COVID-19 restrictions are lifted and it’s safe to return to work and we’re in a safer environment, ICD Property will have all staff get together and share many high-fives to celebrate coming out the other end of this stronger. 
 

U: How do you think this experience will change the way the property market in Australia operates moving forward? 
  
AS: Although this is a challenging time for all Australians, it’s also an opportunity for us to band together and grow stronger. Companies are demonstrating their strength and resilience and Australians are, in our very quintessential Australian way, rallying behind businesses. In property specifically, a lot of developers right now are looking into providing as much online material to purchasers as they can. Due to the stay-at-home restrictions. Where we previously might not have seen all projects have display suite videos or virtual apartment tours online, we’re seeing an increased demand for this from purchasers. They want to access information online from the convenience and safety of their homes. Although this is obviously a current trend in response to COVID-19, it may be something that continues into the future. I think the overall heavier use of technology and innovation will be one positive thing that affects our industry into the future as a result of COVID-19.

Lead image: Render of ICD Property's latest redevelopment project, City Tattersalls Club in Sydney.
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ICD Property's Alice Smith discusses the future of Australia's property industry after COVID-19

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A consortium led by Singapore-listed First Sponsor has joined forces with ICD Property to redevelop the City Tattersalls Club project in Sydney.
It is First Sponsor ’s first Australian project since its inception in 2007.
First Sponsor primarily operates across property development, property holding and property financing and holds investments
The partnership comes following the landmark decision by the City of Sydney on November 14 to grant envelope approval to ICD Property for the Stage 1 Concept Development Application of its City Tattersalls Club site.
The approval allows for plans to rejuvenate the entire clubhouse, including retail, restaurants, a combined hotel and Club reception on the ground level, as well as an event space, co-working centre, health and wellbeing facilities and other member facilities.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/27/City%20Tattersalls%20Club%20-%20Terrace%20-%20Rev%20C.jpg" alt="">
There are also plans to develop a 49-storey tower above the historic site comprising residential apartments and a high-end hotel (plus ancillary facilities).
First Sponsor will provide equity partnership alongside its investor consortium and will pool its experience across property development to assist in the delivery of the project.
It will act as the sole construction financier and will provide funding for t.he delivery of the project.
The collaboration is currently conditional on certain regulatory approvals and conditions and these are expected to be formally achieved in early 2020.
“Receiving support from such a significant property player in China and the Netherlands is a testament to our vision for the City Tattersalls Club redevelopment and we look forward to working alongside First Sponsor, and the club itself,” said ICD Deputy Managing Director Sal Quah.
“In addition, receiving construction funding from First Sponsor will allow for a more efficient and streamlined process with works on the City Tattersalls Club earmarked to commence following Stage 2 approval.”
The First Sponsor/ICD Property joint venture and the City Tattersalls Club are preparing to undergo a design competition process with the City of Sydney in 2020, where a prestigious lineup of architects will vie for the design of the City Tattersalls Club in order to achieve the highest possible outcome for the site.
Submission of a Stage 2 DA will follow soon after.
The deal was brokered by CBRE.
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j.ballantyne1990-6AQqhLzZaK

ICD Property announces joint venture for City Tatts redevelopment

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Melbourne based developers <a href="/developers/icd-property">ICD Property</a> have partnered with Ohmie Go – a local Australian tech start-up – to launch the country’s premiere electric car-sharing service. Ohmie Go will be run out of ICD Property’s landmark development, Eq. Tower, a 63-storey residential building comprised of 633 apartments. The electric car-sharing service will join a long list of the award-winning building’s resident amenities, including karaoke rooms, games rooms, resort-style spa facilities and more.

<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/1._eq._tower_high_density_development_exterior_look-up.jpg" rel="gallery-all" title="Eq. Tower exterior view. Credit: ICD Property"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/1._eq._tower_high_density_development_exterior_look-up.jpg?itok=xsVZNIEO" title="Eq. Tower exterior view. Credit: ICD Property" width="580"></a>

<figcaption>Eq. Tower exterior view. Credit: ICD Property</figcaption></figure><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/14._eq._tower_high_density_development_swimming_pool.jpg" rel="gallery-all" title="Eq. Tower's luxury outdoor pool. Credit: ICD Property"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/14._eq._tower_high_density_development_swimming_pool.jpg?itok=n0rzqZ1C" title="Eq. Tower's luxury outdoor pool. Credit: ICD Property" width="580"></a>

<figcaption>Eq. Tower's luxury outdoor pool. Credit: ICD Property</figcaption></figure><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/charging_in_the_city.jpeg" rel="gallery-all" title="One of the property's electric cars. Credit: ICD Property"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/charging_in_the_city.jpeg?itok=RwW9MNkr" title="One of the property's electric cars. Credit: ICD Property" width="580"></a>

<figcaption>One of the property's electric cars. Credit: ICD Property</figcaption></figure>Residents of <a href="/buildings/eq-tower-127-abeckett-street-melbourne">Eq. Tower</a> will have access to two brand new Kona electric vehicles, which can be booked, unlocked and billed via the Ohmie Go app. At this stage, the developers have identified that two cars would be sufficient to accommodate the requirements of Eq. Tower residents but will consider adding more should the demand for shared cars increase.

<blockquote>
“Providing Eq. Tower residents with an electric car-share service helps minimise the number of cars on city roads, alleviating traffic congestion. It also reduces the need for city dwellers to own a car and carpark within their building and all the costs associated with that. We’ve loved working with Ohmie and having the chance to back Australian entrepreneurs who have original ideas that can benefit the wider community in an area as important as sustainability.”
</blockquote>

- Matthew Khoo, ICD Property Managing Director

<h2>Why this is a fantastic initiative for apartment owners</h2>

In a recent Urban feature where we looked into the <a href="/news/what-will-the-future-of-cycle-culture-in-australia-look-like">future of bicycle infrastructure in Australia</a>, we discovered some interesting facts about car use.

<ul>
<li>A carpark in an apartment building can cost you <a href="https://reiv.com.au/policy-resources/latest-news/car-space-adds-more-than-%24100,000-to-apartment-pri">anywhere up to $100,000</a> on top of the apartment value</li>
	<li>A recent survey found that parking spaces outnumbered vehicles <a href="https://participate.melbourne.vic.gov.au/transportstrategy/car-parking">by approximately 40%</a>, with up to one-third vacant residential parking spots</li>
	<li>Our cars are generally parked <a href="https://www.reinventingparking.org/2013/02/cars-are-parked-95-of-time-lets-check">95% of the time</a>
</li>
	<li>It’s eco-conscious in so many ways. From the physical car’s low environmental footprint, through to the greener lifestyle of not owning a car</li>
</ul>
If you don’t own a car in Australia’s major cities, there are plenty of convenient transport options, which even involve car use, just not your own. Uber and car-sharing are two complementary modes of transport to the great public transport infrastructure in Australia’s cities, as well as cycling, walking and e-scooter/bikes.

<blockquote>
“The environmental benefits of existing car-sharing models in reducing the overall number of private vehicles on the road are already well established. If the car sharing is electric, then that further significantly contributes to reducing emissions, making a good thing even better. We believe that homes and transport solutions that are sustainable are overwhelmingly preferred by today’s consumers!”
</blockquote>

- Kyle Bolto, CEO of Ohmie

<h2>How much will the service cost</h2>

To rent a car will cost $15 per hour, with a daily cap of $79 – giving users the flexibility to take the car for a long weekend away, or just a quick school drop off.

Ohmie Go has been supported by automotive giants Hyundai, as well as JET Charge (Australia’s leading electric car recharging company), with plans to expand to other residential developments across Australia in the near future.

<h2>WHAT THEY SAY</h2>

<blockquote>
“We’re excited to be partnering with Ohmie Go for the launch of Australia’s first residential car-sharing service, and to provide Eq. Tower residents access to long-range, eco-friendly electrified driving with our stylish new Kona Electric SUV. It is Hyundai’s intention to establish leadership for eco cars in Australia and we are inspired by Ohmie Go’s equally ambitious plans to offer convenient and cost-effective mobility solutions across the country.” 
</blockquote>

- JW Lee, Hyundai Motor Company Australia CEO 

<blockquote>
“We have been waiting for years to team up with a company that recognises EVs as being both a mobility and energy asset. In Ohmie we found that company. They share our vision of offering a leading car-sharing business using 100% electric vehicles and also using the same vehicles to support our electricity grid, maximising that vehicle’s utilisation. We are super excited to be launching this world-class service with Ohmie Go, Hyundai and ICD Property”
</blockquote>

- Tim Washington, JET Charge CEO
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Australia welcomes first ever electric car sharing service

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Almost three years to the day of <a href="/news/the-fahrenheit-tower-a-closer-look-at-127-141-abeckett-street">Urban.com.au covering Eq. Tower's planning application</a>, ICD Property's 62-storey tower at 127-141 A'Beckett Street has held its topping out ceremony. The event held onsite yesterday coincided with the first round of residents settling on apartments within the Elenberg Fraser designed scraper.

According to ICD, the build is on track with the balance of apartments due to settle in April 2017.

Apartments.com.au was on hand to witness this significant project milestone. Eq. Tower is the latest in a string of 200 metre towers that have sprouted in the northern zone of Melbourne's CBD.

<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_1521.jpg" rel="gallery-all" title="Eq. Tower has provided the northern CBD with a new design beacon"><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_1521.jpg?itok=mBKgTANN" title="Eq. Tower has provided the northern CBD with a new design beacon" width="580"></a>

<figcaption>Eq. Tower has provided the northern CBD with a new design beacon</figcaption></figure>Major attendees to yesterday's ceremony were key project figures Michael Mai (Managing Director at ICD Property) and Callum Fraser (Principal at Elenberg Fraser). Lord Mayor Robert Doyle spoke, with representatives from Sinclair Brook and head contractor Multiplex also on hand.

Eq. Tower follows hot on the heels of Vision Tower in joining CBD North's 200 metre club, soon to be followed by a host of other towers designed by Elenberg Fraser.

The distinctly shaped tower, which tapers from its mid-section as it transitions to the high-rise segment, responds to key setback and planning requirements. Despite the result being a varied floorplate for a significant portion of the tower, Eq. Tower has still reached structural completion in what has been described by the team as "record time."

<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_1519.jpg" rel="gallery-all" title="Eq. Tower's cavernous foyer space"><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_1519.jpg?itok=oChfEYrI" title="Eq. Tower's cavernous foyer space" width="580"></a>

<figcaption>Eq. Tower's cavernous foyer space</figcaption></figure>Eq. Tower also presents a number of firsts for the project team, with the topping out ceremony marking the completion of Elenberg Fraser's first 200 metre-plus tower on the Melbourne skyline. Callum Fraser remarked that he's going to have to get used to attending topping out ceremonies, with a number on the horizon over the course of the next year.

For developer ICD Property, it marks their first foray into the realm's of high-rise development in Melbourne, following previous project success with the mid-rise You &amp; I on Smith Street, Collingwood.

Looking ahead, ICD's next project lies north of the border in the harbour city, while they scour the Melbourne landscape for their next significant development opportunity. Meanwhile Elenberg Fraser is occupied with five towers in the city's northern reaches, plus a sixth which received approval last month on the adjoining site at 111-125 A'Beckett Street.

<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_1459.jpg" rel="gallery-all" title="Elenberg Fraser have made their presence felt across Melbourne's skyline"><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_1459.jpg?itok=fBjCChhG" title="Elenberg Fraser have made their presence felt across Melbourne's skyline" width="580"></a>

<figcaption>Elenberg Fraser have made their presence felt across Melbourne's skyline</figcaption></figure>
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Laurence Dragomir

Three years on, Eq. Tower tops out

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Having <a href="/news/you-i-enters-construction-phase">commenced construction during July 2013</a> with Apartments.com.au present at the <a href="/news/you-is-ground-breaking-ceremony">ground breaking ceremony</a>, this month saw the first residents of ICD Property's YOU &amp; I development begin moving in which also marks the developer's first completed apartment development in Melbourne.

Located along one of Melbourne’s most iconic streetscapes, YOU &amp; I at 450 Smith Street Collingwood consists of 63 apartments designed by Orbit Solutions. Apartments.com.au toured the recently completed building with ICD Property Director of Operations and Development Manager, Sal Quah, who said the team was thrilled to deliver its first project in its expanding development portfolio.

<blockquote>
We’ve had a busy few years and are pleased to see all of our efforts come to life through the completion of YOU &amp; I where buyers have been quick to recognize our vision in creating developments that contribute to Australia’s urban fabric.

YOU &amp; I is just one chapter completed of the ICD Property story with a series of developments underway including Eq. Tower and our latest collaborative project, Maple in Hawthorn, with Melbourne developer, ANGLE also completely sold out.
<cite>Sal Quah</cite>
</blockquote>

ICD recognised the potential of Collingwood as an emerging and desirable suburb due to the popularity of Smith Street and its restaurants, cafes, boutique shops and retail outlets which are considered some of the best in Melbourne. As a result YOU &amp; I is one of the first larger scale residential developments to be built on Smith Street, acting as a visual landmark, particularly when approaching from the north.

<blockquote>
The building represents one of the suburb’s largest residential gentrification projects along the famed Smith Street shopping strip, and we are pleased to breathe new life into this emerging Melbourne suburb.

Considered as one of Melbourne’s most exciting and highly coveted new lifestyle precincts, its little surprise the response we have received in the project from buyers and the local Collingwood community alike.
<cite>Sal Quah</cite>
</blockquote>

With Collingwood once famed for its local artisan residents during the 60s, 70s and 80s, the project team strived to assemble the best collaborators in order to design a development that would contribute to Collingwood’s unique character.

YOU &amp; I has integrated a selection of artworks from local Melbourne artist, Steve Rosendale, turning what would be an otherwise static and blank façade into a visually interesting storyboard which alludes to and draws upon Collingwood's eclectic and artistic history.

Rosendale has created five custom, larger-than-life stencil-style artworks which adorn the façades, referencing the retro and underground cinematic culture that was once synonymous with the area.

At 7-storeys tall and with significant upper level setbacks, the building features a robust base with timber highlights to soffits with a vertically expressed veil that acts to create "visual ambiguity" for the pedestrian. Residents will have access to the communal terrace located on level three of the development which opens out and holds views over Smith Street and back towards the Melbourne CBD skyline.

The setback was employed to alleviate planning concerns about the height and bulk of the building to the street.

<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/you_i_023.jpg" rel="gallery-all" title="The upper veiled volume setback from Smith Street. Image courtesy ICD Property."><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/you_i_023.jpg?itok=qLhxWnIw" title="The upper veiled volume setback from Smith Street. Image courtesy ICD Property." width="580"></a>

<figcaption>The upper veiled volume setback from Smith Street. Image courtesy ICD Property.</figcaption></figure>The now fully sold apartments feature soft, neutral interiors with quality fittings and finishes used throughout, with buyers offered a selection of either a light or dark colour palette. Kitchens feature stone benchtops and Miele appliances with apartment afforded ample daylight coupled with generous ceiling heights, giving even the smaller apartments a spacious feel.

Bathrooms feature concealed in-wall cistern and chevron-patterned tiling that tie in with the contemporary look and feel of the 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/you_i_002.jpg" rel="gallery-all" title="A typical one bedroom apartment. Image courtesy ICD Property,"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/you_i_002.jpg?itok=j-r6znfT" title="A typical one bedroom apartment. Image courtesy ICD Property," width="580"></a>

<figcaption>A typical one bedroom apartment. Image courtesy ICD Property,</figcaption></figure>Sustainability has been considered and included within the building's design via a grey water harvesting system and solar panels that contribute to the building’s energy needs whilst reduce hot water bills.

A ground floor retail tenancy fronting Smith Street has been reserved for a potential café or restaurant space to be occupied with the option to also accommodate multiple smaller tenancies. The tenancy appears to float above the street with planting beds sitting below the projecting plates. Operable windows allow the space to open up to the street and allow for passive surveillance and visual interaction with the action along Smith Street.

Residents access the building via an entry lobby off Mater Street that also accommodates the mailboxes and can also be accessed from the basement car parking level which features triple height car stackers per parking bay and a bicycle storage area. Storage cages are located within a mezzanine level that has been created as a result of the basement's double height space.

<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/you_i_024.jpg" rel="gallery-all" title="YOU &amp; I Entry lobby. Image courtesy ICD Property."><img alt="" class="image-article-full-width-580px" height="870" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/you_i_024.jpg?itok=GCwBxXOl" title="YOU &amp; I Entry lobby. Image courtesy ICD Property." width="580"></a>

<figcaption>YOU &amp; I Entry lobby. Image courtesy ICD Property.</figcaption></figure><h2>Key facts</h2>

<ul>
<li>Address: 450 Smith Street, Collingwood</li>
	<li>Developer: ICD Property</li>
	<li>Architect: Orbit Architecture</li>
	<li>Builder: Harris HMC</li>
	<li>Number of apartments: 63 (28 x 1 bedroom apartments and 35 x 2 bedroom apartments)</li>
	<li>Sizes of apartments in square metres internally:
	<ul>
<li>1 bed 1 bath apartment size 40.3-62.6 m2 (Internal)</li>
		<li>2 bed 1 bath apartment size 61.3 m2 (Internal)</li>
		<li>2 bed 2 bath apartment size 63.8-86.9 m2(Internal)</li>
	</ul>
</li>
	<li>Who is buying: 50% owner occupier, 50% investor</li>
	<li>Prices:
	<ul>
<li>1 bedroom apartments from $385,000-418,000</li>
		<li>2 bedroom / 1 bathroom apartments from $519,000-580,000</li>
		<li>2 bedroom / 2 bathroom apartments from $530,000-680,000</li>
	</ul>
</li>
</ul>
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ICD Property delivers its first project: YOU & I

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Urban.com.au recently caught up with ICD Property's Director of Operations and Development Manager, Sal Quah, along with ANGLE Director Lachie Gibson just prior to the official launch of the Maple Hawthorn display suite.

Having visited a number of display suites over the years, I can safely say that the Maple display is in the upper echelon. Sal took me through the display suite explaining the rationale behind the interiors, the layout of the apartments and the flexibility they offer to residents to really customize the apartment to suit their needs, be they single, married or with a family.

Laurence Dragomir: How did ANGLE come to be involved with the project? ICD owned the site for a number of years.

Sal Quah: The last couple of years we've been focusing on some of our larger projects and the smaller ones like Maple were just sitting there so we gauged buyer interest but also interest from development partners and ANGLE was one of the names put forward to us. We were really impressed by ANGLE and they actually reminded us a lot of ICD Property when we started in Melbourne. The research they undertook and the final presentation they put together for the project was far beyond anything we had expected. In the end it became a really easy decision.

Lachie Gibson: We've really enjoyed working with ICD Property, the whole team there is really young and passionate.

SQ: There's a real synergy that's developed between us.

LG: We went out to dinner with all the guys and we all pretty much hit it off straight away. It's been really smooth sailing all the way through on the project which isn't always the case.

LD: ICD already had the project in the works when you were marketing Eq Tower?

SQ: We had You and I and this site before we started on Eq Tower. Eq pretty much took up all of our resources.

LD: How did the name Maple come about?

LG: The inspiration was the maple tree on level 3. We wanted something that was really different and unique. Hawthorn's generally really known for being a green, leafy suburb so the maple tree as a feature was something we hadn't seen done here in Australia, particularly on a project of this size. It makes the corner of the building a real feature so essentially it was really about choosing what that tree was going to be. We love maple trees - my old man is actually a big fan of maple trees - but it also ties in really well with the architecture and there's a bit of Japanese inspiration in there.

LD: It's interesting that the maple tree idea came first and that as a result it has essentially become the identity for the building.

LG: It was really organic wasn't it Sal?

SQ: Yes, very spontaneous.

LG: In the end it seemed pretty obvious - why don't we just call it Maple? We thought that's not a bad idea, but let's sit on it and explore other options and then just came back to that. What's pretty cool as well is that it will change colour all year round. In summer it will be green and provide protection for these guys, but then come autumn it will turn red and in winter it'll let light in.

It makes for a really dynamic building - all these screens are sliding, they feather so as you move around the building, it changes appearance. The rationale I suppose in distinguishing the lower levels to the upper levels - is really about creating two parts to the building. The 'podium' levels are really guarded - it's a busy corner so the residents need privacy whereas on the upper levels, you're raised up and setback from the street so it's a lot more open and privacy is not as much of an issue.

LD: I think what's great is the residents have their privacy but being such a prominent corner the podium levels still have an active and animated facade unlike for instance above ground car parks. I was saying to Sal earlier, I really like how the balcony deflects inwards to embrace the maple tree.

LG: There was a fair bit of work involved in getting the detailing right for that but it's a pretty cool feature, especially for the people who will own the apartments around it.These are million dollar apartments up there and everyone gets the benefit of the canopy and its coverage.

LD: What's been interesting - and Sal and I were discussing this earlier - is the standard and quality of apartment buildings of this size and scale, particularly in the inner city, has gone up in the last couple of years. Looking at some of the finished and joinery etc. it seems quite apparent to me that with a development such as this you're really targeting that owner-occupier market. Would that be right?

LG: I would say that Melbourne is definitely a world leader in this space. We do a lot of creative marketing through another business called Earl Street and we were up in Sydney yesterday with some clients and you see the quality of the architecture up there and it's not even close to what we have here in Melbourne, which is probably 5 years ahead, and I don't know if Sydney will ever catch up. I think its born out of not only being competitive but the creative industry in Melbourne's so strong and thriving; in hospitality, in fashion etc. I think we're streets ahead.

SQ: I think it's also the culture created through migration and intellectuals bringing these really global ideas and way of thinking.

LG: That's a really good point. Plus the size of the stock's another one as well - you've sort of picked up on the owner occupier focus.

LD: Sal took me through the floor plans earlier and I noticed the one bedders are a decent size. They were about 54sqm from memory?

LG: The smallest apartments start from 51sqm which is pretty rare these days. But we made a real push for that.

LD: I've had a look over the layouts and I think they're great - all the apartments seem really well laid out, all bedrooms receive natural light and ventilation.

LG: The project threw up some really interesting challenges and I suppose came up with some responses that were really pushing the boundaries in that we hadn't really seen layouts like that. Particularly these two bedders there's no saddlebacks, no borrowed light which we're really proud of but getting these two bedrooms out onto the facade works really well.

A) You get a lot of natural light to all your rooms B) you get more privacy to your living area and C) you get a deck with 3 different interfaces and allows for a much more square shape which makes it really usable.

On the lower levels you can close the screens and open up the bedroom doors or the living area and still have that level of privacy. We've never really seen a floor plan like this so we took a bit of a risk with it.

LD: Is there scope for ANGLE to move on to larger projects? And will we be seeing more ICD and ANGLE joint projects in the future?

LG: I think the answer to both questions is definitely. We've really enjoyed working with ICD and look forward to any future opportunities to do so.

SQ: The feeling from ICD is mutual.

LD: Lachie and Sal, thank you both for your time.
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