A new chapter in Sydney’s urban renewal story begins today as NSW Premier Chris Minns officially turns the sod for Dawn, the fifth stage of Sekisui House Australia’s $5 billion <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> masterplanned community.

Developed in partnership with Hankyu Hanshin Properties and built by <a href="https://www.apartments.com.au/builders/decode">Decode</a>, <a href="https://www.apartments.com.au/new-apartments/dawn-melrose-park-bundil-boulevard-melrose-park-nsw-2114">Dawn</a> will deliver 368 parkside residences, forming part of one of NSW’s largest privately owned urban renewal projects.&nbsp;

The milestone marks the start of the next phase in transforming Melrose Park into a new community delivering over 5,500 homes, a mixed-use town centre, 50,000 sqm of open green spaces and several future schools.

[smartcode_project:default project_id=145496 project_image_fid=352993]

Kazunori Ito, Group CEO and Managing Director at <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, said the milestone symbolises the company’s ongoing commitment to job creation, housing supply and sustainable community building.

“This moment represents more than just the start of construction," Ito said.

"It is about building a new urban heart for Sydney’s geographic centre. Dawn and the wider Melrose Park masterplan will generate thousands of jobs, deliver quality homes for families and help more people realise the dream of home ownership.

“We are proud to be supporting the NSW government’s housing targets and expanded Home Guarantee Scheme, which came into effect on 1 October. The program is already opening doors for more first home buyers at Melrose Park, many of whom are using the scheme to purchase with a five per cent deposit and no Lenders’ Mortgage Insurance.”

[smartcode_project:default project_id=145496 project_image_fid=334163]

Since its introduction, the enhanced federal government’s Home Guarantee Scheme has given first home buyers greater access to the property market. With value thresholds in New South Wales now lifted to $1.5 million, buyers can secure a new apartment in Melrose Park sooner, reducing the burden of saving a 20 per cent deposit and removing costly mortgage insurance premiums.&nbsp;

The Dawn precinct, designed by <a href="https://www.apartments.com.au/architects/group-gsa">Group GSA</a> embodies Sekisui House’s global “Love of Humanity” philosophy, integrating sustainability, technology and liveability into every design detail. Residents will enjoy abundant green space, energy efficient features and a direct connection to the future Parramatta Light Rail Stage 2 and Melrose Park Town Centre set to open in 2026.

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As part of the NSW government’s long-term commitment to the local community, work recently commenced on the new Melrose Park High School, a state-of-the-art education facility designed to accommodate more than 1,000 students. The school will be within walking distance to Dawn and will become a cornerstone of the precinct’s family friendly environment.

Melrose Park’s smart community vision includes EV charging stations, environmental monitoring systems with Western Sydney University and NBN node to residence connectivity. With over $216 million in planning contributions committed to local and state infrastructure, this project supports NSW’s 30-minute city goal, ensuring residents can live, work and play within easy reach of key employment and lifestyle hubs.

[smartcode_project:default project_id=145496 project_image_fid=334049]

Dawn’s contemporary residences all have secure basement parking and start at $649,000 for a one-bedroom apartment and $1.259 million for three-bedrooms.&nbsp;

The project will also overlook Central Park which spans nearly two hectares and features barbeque and picnic areas, children’s play zones and walking tracks ideal for active residents and pets.

Residents will enjoy exclusive rooftop community facilities including private rooftop gardens, beautifully landscaped podium parks and internal courtyard gardens.

Construction of Dawn, which is being led by regarded builder Decode, will be completed by Q1 2028, adding to Sekisui House’s pipeline of more than 9,000 homes and apartments under development across Australia.

[smartcode_project_cta:default project_id=145496]

Staff Writer

Premier Chris Minns turns sod at Dawn Melrose Park as construction commences

Southport is set for one of its tallest new apartment developments in recent years with the approval of Malua, a 32-level tower just one row back from Broadwater.

The <a href="https://www.apartments.com.au/new-apartments/malua-18-22-norman-street-southport-qld-4215">Norman St tower</a> will comprise 151 apartments within the Southport Priority Development Area. The three adjoining lots, totalling 1,215 sqm, are currently occupied by three two-storey buildings, one a house, and two duplexes.

The majority of the apartments will be two-bedders (126), with just five one-bedroom apartments and 20 three-bedrooms. There will be three basement levels, three podium levels, and a rooftop communal space with a pool, gym, private dining areas and business hub facilities.

<img alt="Malua" data-entity-type="file" data-entity-uuid="21ab3437-de39-432c-b991-f33227b606dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.41.37%E2%80%AFAM.png?VersionId=_dOcjcvmSMyn6utzzviBVCAgDp5ZCo_N" />

There had been prior approval for a 14-storey building, however those plans became financially unviable.

“The proposed development seeks to resolve financial viability issues of the existing development approval by providing a higher density development with a more favourable unit mix and streamlined design,” the planning report submitted to the Gold Coast City Council noted.

Plus Studio designed the tower which "aims to contribute positively to the evolving Southport skyline, with vertical relief elements, sculpted facades, and rooftop crowning features."

“When stepping into the lobby from Norman Street, pedestrians and residents pass through a sculpted podium of lush green foliage in an earthy entry experience,” Plus wrote in its design report, emphasising the landscape-led approach to the podium and ground plane.

<img alt="Malua" data-entity-type="file" data-entity-uuid="694202c2-be8f-4cde-be26-a494293058a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.42.15%E2%80%AFAM.png?VersionId=NOIFuolMkoE8vNerov63rnbFRk_TnYUy" />

There is renewed confidence in the development market in Southport. Buyers have jumped at the chance to buy at <a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a>, the latest local Gold Coast development by MRCB. Over 75 per cent of the 192 apartments have been snapped up prior to launching to the market.&nbsp;

The last notable launch in the suburb was in late 2023 when <a href="https://www.apartments.com.au/new-apartments/eden-garden-residences-20-bauer-street-southport">Eden Garden Residences</a> hit the market. The 54 apartments, on the corner of Bauer Street and Chester Terrace, are under construction and due to complete in mid-2026.

Joel Robinson

First look: Southport tower Malua to rise 32 levels in latest Gold Coast approval

Woolworths Group’s development arm, <a href="https://www.apartments.com.au/developers/fabcot">Fabcot</a>, has unveiled its latest mixed-use development.

They are seeking to reshape a prominent site in Gladesville, on the northern edge of the town centre. They've filed a&nbsp;State Significant Development Application for the amalgamated 5,623 sqm block with street frontages to Victoria Road and Eltham Street that will see <a href="https://www.apartments.com.au/new-apartments/363-victoria-road-gladesville-nsw-2111">two buildings with 171 apartments</a> sit above an activated retail ground plane.

The tallest tower, at 13 storeys, will face Victoria Road and home 115 dwellings. A smaller nine-sytorey tower, stepping down to Eltham Street, will have the remaining 56 apartments.

The towers will rise above a podium containing a full-line 3,800 sqm Woolworths supermarket and cafe, activating along the Westminster and Eltham Street frontages.

<img alt="Fabcot" data-entity-type="file" data-entity-uuid="da042a40-288e-41b8-becc-080f235a3717" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.13.26%E2%80%AFAM.png?VersionId=n99ay71Clcy6WLP4Uajw2ph6BA61wboV" />

The residential offering will include 19 one-bedroom, 118 two-bedroom, and 34 three-bedroom apartments. Residents will have access to rooftop communal terraces on both buildings, as well as a podium-level garden, contributing a total of 1,411 sqm of communal open space.

According to the Urban Design Report by <a href="https://www.apartments.com.au/architects/clarke-hopkins-clarke">ClarkeHopkinsClarke</a>, “The massing places height and density along Victoria Road, reinforcing its role as the commercial spine, while stepping down towards neighbouring areas to ensure appropriate scale transitions.”&nbsp;

The design draws inspiration from the local geology and waterways, with curving tower forms and a warm, tactile material palette referencing Hawkesbury sandstone and nearby riverine landscapes.

The proposal also includes basement parking across three to four levels, accommodating 392 car spaces - 190 for retail and 202 for residents.

<img alt="Fabcot" data-entity-type="file" data-entity-uuid="f1a01073-9a13-4ba7-9c14-43c84a751e26" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.13.51%E2%80%AFAM.png?VersionId=KSImA_iSQiIgSRMswm7.5Sg.WRZ0fZjg" />

Fabcot is aiming to deliver a “landmark building with civic presence,” leveraging the prominent corner site to anchor the precinct’s urban renewal.

“The building’s corner location and carefully sculpted form establish it as a landmark for North Gladesville,” the Urban Design Report notes.

ClarkeHopkinsClarke has previously collaborated on other Woolworths mixed-use projects, and here again deploys stepped setbacks, articulation, and extensive landscaping to manage bulk and enhance street-level engagement. A colonnaded brick base provides texture and rhythm to the podium, while upper levels curve softly to maximise views and cross-ventilation.

The development sits within the North Gladesville Precinct, an area earmarked for transformation under Ryde’s local planning strategy. It is well-served by bus connections along Victoria Road and within proximity to community infrastructure, schools, and riverside parkland.

Gladesville is set for a full transformation with developer Third.i also planning a major mixed-use development in the area. They are seeking to redevelop the Gladesville Village Shopping Centre into an&nbsp;integrated precinct with more than 500 apartments, a new supermarket, and significant public domain upgrades.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-third-i-plots-500-unit-redevelopment-of-gladesville-village-shopping-centre">First look: Third.i plots 500-unit redevelopment of Gladesville Village Shopping Centre</a>

Fabcot reveals mixed-use plans for Gladesville town centre

<a href="https://www.apartments.com.au/developers/omaya">Omaya</a> has brought to market a boutique collection of completed, two-storey terraces on Telopea Avenue in <a href="https://www.apartments.com.au/developments/homebush-west-nsw-2140">Homebush West</a>, offering buyers the opportunity to move straight into brand-new homes in a connected inner-west location.

<a href="https://www.apartments.com.au/buildings/telopea-avenue-homebush-west-24-36-telopea-avenue-homebush-west-nsw-2140">Telopea Avenue</a> comprises four-bedroom terraces with internal basement parking, designed to balance functionality with contemporary interiors.

[smartcode_project:default project_id=150682 project_image_fid=6085]

Each residence is arranged across two levels, with layouts tailored to families seeking more space or downsizers wanting low-maintenance living without compromise. Skylights and large windows maximise natural light throughout the interiors, while private terraces and balconies extend living outdoors.

Inside, hybrid timber flooring flows through living and bedroom spaces, complemented by built-in wardrobes with polyurethane finishes and melamine shelving.&nbsp;

Kitchens feature Bianco Imperial Granite benchtops and splashbacks, paired with Smeg appliances including a five-burner gas cooktop, oven, rangehood, and integrated dishwasher.&nbsp;

Bathrooms continue the refined detailing with porcelain tiling, granite accents, gun metal tapware, and integrated LED lighting.

[smartcode_project:default project_id=150682 project_image_fid=6072]

Landscaped surrounds create a sense of greenery within the community, while individual home designs ensure each terrace retains its own character.

Positioned within a quiet residential pocket, the project sits only minutes from the activity centres of Strathfield, North Strathfield, Homebush, and Lidcombe, as well as the broader lifestyle and employment precinct of Sydney Olympic Park.

Residents also benefit from the project’s proximity to transport and amenity. Homebush and Flemington stations provide direct rail access to the Sydney CBD, with major road connections including Parramatta Road and the M4 close by.&nbsp;

[smartcode_project:default project_id=150682 project_image_fid=6064]

Local shops, Sydney Markets, and Strathfield Plaza cater to daily needs, while the area is well-serviced by schools, childcare centres, and universities.&nbsp;

Nearby Sydney Olympic Park and Bicentennial Park add further lifestyle appeal, offering walking trails, sports facilities, and year-round cultural events.

The terraces are delivered by Omaya, a family-run Sydney developer and builder with more than 35 years of experience and over 1,000 dwellings in its pipeline.

[smartcode_project_cta:default project_id=150682]

Omaya delivers complete and move-in ready terraces on Telopea Avenue, Homebush West

Melbourne-based developer&nbsp;<a href="https://www.apartments.com.au/developers/las-group">LAS Group</a> has this month received planning approval for two adjoining sites, 101 Clarendon Street and 38 Clarke Street in Southbank, that will add around $700 million to the developer’s pipeline on completion.

The two sites were purchased from Crown in 2023 and occupy the same city block as the iconic Casino complex, acquired in an on-market transaction, consisting of multiple titles that were being used as warehouses and low-rise office space.

The resulting permits will see the delivery of two towers consisting of 52 and 25 levels, both to be designed by Fender Katsalidis.

LAS Group’s successful planning approvals are among only a select few new development sites in Southbank to receive a permit in the last three years, as appropriate sites become even more scarce in the popular city-side location.

The projects will enjoy immediate walking access to Crown Casino, South Wharf, the Aquarium, Southbank and the wider Yarra River walk precinct that features a plethora of restaurants, bars and other hospitality and entertainment offerings.

The Fender Katsalidis-designed towers will feature intricate brick masonry and arched windows at street level that will add character to the Southbank streetscape, with sleek towers rising above each podium.

The larger of the two towers, <a href="https://www.apartments.com.au/new-apartments/101-clarendon-street-southbank-vic-3006">101 Clarendon Street</a>, will have 509 apartments across a 52-level building that wuill also include a resident&nbsp;lounge, private dining room, podcast room, golf simulator, co-working spaces, pet care facilities, and an outdoor terrace.

That is expected to complete in 2029.

<img alt="Clarendon" data-entity-type="file" data-entity-uuid="9d8595a7-d225-4532-86a9-d3c5ca7407d4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-05%20at%208.28.51%E2%80%AFAM.png?VersionId=quwbfnhk5Vf6yR1Qj0GQtt0EjeIsKMci" /> 
The podium at 101 Clarendon Street. Image supplied

The smaller tower at <a href="https://www.apartments.com.au/new-apartments/36-42-clarke-street-southbank-vic-3006">38 Clarke Street</a> will be around half the size at 25 levels and home 188 apartments, a pool, gym, cold plunge, and sauna. That is expected to complete in 2028.

&nbsp;

LAS Group has a long history of developing key sites across Australia, including The Fawkner on St Kilda Road and Guild Apartments in Southbank, as well as holding significant interests in retail, mixed-use and storage facilities across Australia.

<img alt="38 Clarke" data-entity-type="file" data-entity-uuid="d871b034-d2a4-490f-b9eb-b9d4b99a04c5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-05%20at%208.28.44%E2%80%AFAM.png?VersionId=J3fWfemsLPQzXekl_h0QlsXoWFnRbfRF" /> 
38 Clarke Street, Southbank. Image supplied

LAS Group director and founder Les Smith said the planning approvals had come at a time when confidence was returning to the market and the need to deliver quality apartment stock in Melbourne’s inner suburbs was becoming critical to help ease the housing and affordability crisis.

“These planning approvals are the outcome of a collaborative process with multiple stakeholders and we are grateful for the involvement and support of Melbourne Water, the Department of Transport and Planning, Melbourne City Council and Property Council of Australia along the way," Smith said.

“We have a huge affinity for Melbourne believe the macro and micro economic factors that underpin long-term growth mean it is currently undervalued compared to other capital cities around Australia.

“Confidence is starting to return given the recent interest rate drops and the buoyancy in the economic climate, so we believe the time is right to bring these two new projects to market in the coming months."

LAS Group General Manager, Mia Smith said the design intent was to bring a sense of place to Southbank from the ground level and contribute positively to the thriving entertainment precinct, while delivering good quality, affordable stock to the market.

“These projects will deliver product that is affordable and accessible, while delivering a beautiful building with luxury appointments, in a wonderful location that’s next door to Crown Casino and the Southbank entertainment precinct, and on the doorstep to the CBD," Smith said.

“We are incredibly pleased with the designs that Fender Katsalidis have proposed and we are excited to make a positive impact to the urban design of this important pocket of Southbank with these exceptional design outcomes.”

LAS Group to build 700 apartments across two towers on Crown Casino’s former Southbank sites

OpenCorp

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The residential property development arm of OpenCorp has been relaunched as a standalone entity under the new name Equire, with almost $500 million of national projects in the pipeline,. Established in 2006, OpenCorp has grown to include five divisions offering investment advice, property management, finance broking, funds management and property development services.

Equire's most recent acquisition was a 1,400 sqm square metre site in Ivanhoe, 10 kilometres from the Melbourne CBD. The site is earmarked to have an end value of $34 million and will include approximately 45 apartments, with a mix of one, two and three bedrooms to suit a variety of purchasers.

Urban.com.au asked Equire director and OpenCorp founder Allister Lewison about the rebrand and his aspirations for Equire.

<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/161209_-_757_toorak_rd_-_v01_-_hero_-_final_2000.jpg" rel="gallery-all" title="Equire's East Side Village project in Hawthorn East. Image : Equire"><img alt="" class="image-article-full-width-580px" height="315" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/161209_-_757_toorak_rd_-_v01_-_hero_-_final_2000.jpg?itok=mmvG1IJn" title="Equire's East Side Village project in Hawthorn East. Image : Equire" width="580"></a>

<figcaption>Equire's East Side Village project in Hawthorn East. Image : Equire</figcaption></figure>Urban.com.au : What are your ambitions for Equire? What are the types of projects you want Equire to be synonymous with?

Allister Lewison : At Equire, our core ambition is to build brighter futures for our customers, partners and investors. We want to continue to deliver solutions based not only on what the market needs now but also into the future.  

A core feature of our projects is design excellence – we only create products that will stand the test of time and that are most suitable for our buyers. This might be high-end downsizer apartments in Perth or a first home buyer land subdivision in Brisbane. We make sure that the product we are delivering meets and exceeds the expectations of our purchasers

UM : Is there any overlap between Equire and the other divisions of OpenCorp, in terms of support on projects? 

AL : There is definitely an overlap between Equire and the other divisions within the OpenCorp Group. We share and work closely with our funds, finance and invest divisions.

UM : What future projects are on the horizon for Equire, particularly in Melbourne?

AL : In Melbourne, we will soon be launching our Ivanhoe apartment project. This will include a mix of one, two and three bedroom apartments focusing on functionality, style and luxury. The project will be placed amongst Ivanhoe’s leafy streetscapes and likely attract downsizers, first home buyers and investors.

We are also currently contracting a site in South East Queensland for a 300-lot subdivision.

UM : Can you provide an update on your new project in Ivanhoe? When is it likely to launch?

AL : Equire’s latest apartment project in Ivanhoe is set to launch in November 2018. The project will be perfectly located close to public transport, parklands and shops. Our project will steer away from bland apartment buildings and will showcase the best of Ivanhoe’s beautiful streetscape. The architectural design will utilise curved geometry to speak to the art deco aesthetic of the Ivanhoe locality, with lush landscaping incorporated in the architectural design to allow the greenery to build on the character of the building façade.

UM : What are your thoughts on the state of the residential property market in Melbourne at present? 
AL : Melbourne continues to be one of the hottest residential markets in the country, and at the moment we are noticing an influx of first home buyers and downsizers. Australian Bureau of Statistics data shows that loans to Victorian first home buyers reached its highest monthly level in November 2017, at 3527, since late 2009. 
We are seeing a demand for good quality, small-scale apartment projects as well as townhouse developments.

UM : In terms of future growth aspirations for Equire, where in Australia do you see the most potential in the residential property market?

AL : We are noticing a lot of potential for residential property in Queensland, most notably in the South East. Data shows that there is forecast growth for the region, particularly due to the Commonwealth Games in April where the government is set to spend up to $1.5 billion on infrastructure and improvements. Additionally, the Gold Coast is one of Australia’s fastest growing cities.

Its current population is over 500,000 and this number is expected to grow to 820,000 in the next 20 years, according to the Australian Bureau of Statistics.

We are currently contracting a site in South East Queensland as well as continuing to monitor the market for any further opportunities.
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Laurence Dragomir

OpenCorp relaunches development business as Equire

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On the occasion of OpenCorp's launch of their Eastside Village apartment development, Apartments.com.au recently spoke with the group's Director Allister Lewison regarding the design merits of the Hawthorn East project.

Teaming with architects Rothelowman and interior designer Fiona Lynch, Eastside Village has been put forward as an apartment development designed to cater for the particular market in which it finds itself in. According to Allister Lewison, the target demographic/buyer played a part in forming both the size and layout of the apartments on offer.

Dwellings within the six storey development have been positioned to soak up a certain type of buyer, given Hawthorn East's hefty median home price. With that in mind, prospective downsizers and young professionals and couples are at the forefront of the project's sales campaign.

Prior to Eastside Village's sales launch, a registrations of interest campaign was highly reflective of this particular aspect of the buyer market.

<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/image64_5.jpg" rel="gallery-all" title="Eastside Village's rendered interior"><img alt="" class="image-article-full-width-580px" height="331" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image64_5.jpg?itok=3gwTq6fE" title="Eastside Village's rendered interior" width="580"></a>

<figcaption>Eastside Village's rendered interior</figcaption></figure>To that end Eastside Village includes 73 one, two and three bedroom apartments, with internals ranging between 50sqm and 96sqm, whilst certain apartments hold outdoor areas of up to 116sqm. Lewison describes the project's layout as highly flexible, with upgrades and alternative floor plans possible, depending upon the buyer's preferences.

These flexible layouts are backed by incumbent Interior Design Excellence Awards (IDEA) designer of the year Fiona Lynch. Her presence across the project's internals has given OpenCorp confidence in Eastside Village's sales prospects, with Lewison describing Fiona Lynch as a key to luring prospective buyers.

Add Ben Scott Garden Design as landscape architect and Eastside Village's design team has worked together to produce a project reflective of the premier location. 

With amenity at the forefront of the design process, Eastside Village's apartments enjoy aspects over dual sculpted courtyards, which also serves to maximise natural light penetration into each dwelling.

<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/image65_1.jpg" rel="gallery-all" title="The project's central garden"><img alt="" class="image-article-full-width-580px" height="707" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image65_1.jpg?itok=xPaDqo0Z" title="The project's central garden" width="580"></a>

<figcaption>The project's central garden</figcaption></figure>Externally Eastside Village's exterior will be draped in a distinctive green edifice.

<blockquote>
Toorak Road's façade opens and closes to create an organic architecture that oscillates between private and public landscaped spaces, whilst firmly anchoring down to the ground plane with a curvaceous gesture which frames the entry and holds the street.

Punctuated by large subtractions, the development's form creates landscaped courtyards to the east and west, which provide increased light and internal amenity. The rectilinear vertical façade elements serve to provide a delicate veil of privacy, enclosure and a cohesive architectural expression. The contrasting solid curved forms both frame and soften the edges of the building.

A thoughtfully designed ground floor street interface with landscaping meets the building flowing vertically upwards through a series of balcony planters above. Warm hues and natural finishes offer a warmth to residents both in apartments and shared spaces.
<cite>Rothelowman</cite>
</blockquote>

As for OpenCorp's development fund subscription which underpins Eastside Village, Lewison noted that the standalone fund for the Hawthorn East project was oversubscribed by 30%, pointing toward investors recognition of the project's blue chip location.

Construction is expected to begin during mid 2017, with a completion time frame approximately one year later.
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silvermb

Profiling OpenCorp's Eastside Village development

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Melbourne-based property group and fund manager OpenCorp has acquired new sites to host its latest crowdfunded house and land developments.
Located in Greenvale, 20 kilometres north of the Melbourne CBD, the 168-lot subdivision site is positioned close to the company’s sold out Umbra development. It will be the 23rd project OpenCorp has funded through a property development fund.
Currently under construction, Umbra already is projecting good returns for investors. OpenCorp is currently anticipating a total return of 110% against the forecast of 58%. Its 41% internal rate of return sits against the forecast of 30%.
Like Umbra, investors in the Greenvale development would subscribe to an OpenCorp managed property development fund to participate as equity partners in the new $46 million project.
Based on the success of Umbra, 70% of the $11.4 million of the equity being raised for the development has been committed by one major Melbourne investor.
“They participated in the first Greenvale development and were eager to invest in the subsequent similar development,” says OpenCorp director Allister Lewison (pictured above centre).
OpenCorp have also closed its capital raising offer with the $3.5 million fund being considerably over-subscribed.
The new development fund is forecast to provide investors a total return of over 54%, or an internal rate of return close to 23%.
“Our development funds provide a great way for family offices, high net worth clients and retail investors to invest in developments when they don’t have the time, money or skills to do so themselves,” Lewison says.
“Our 10 year track record combined with average returns of over 20% per annum are proving very popular with small and large investors, given the returns from other asset classes.”
The new Greenvale development is expected to attract first homebuyers seeking a site to build a family home at an affordable price point in anticipation of the City of Hume’s continued rapid growth.
“The Melbourne market continues to remain very robust for quality developments in the right catchments,” Lewison says.
“The sub markets in which we operate are very much focused on strong demand and supply fundamentals.”
Greenvale is located a 30 minute drive from the Melbourne CBD and 10 minutes from Tullamarine Airport. 
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j.ballantyne1990-6AQqhLzZaK

Crowdfunding property developer OpenCorp acquires second Greenvale site

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The recent news of local developer OpenCorp's acquisition of a Hawthorn East development site coincides with the firm's push into Melbourne's apartment sector, as evidenced by another upcoming project slated for Ivanhoe.

With a presence spanning three states and in excess of $500 million in development nationally, Apartments.com.au recently spoke with OpenCorp Director Matthew Lewison regarding their their new direction into Melbourne's inner-city market after thus far only being active in Melbourne's peripheral suburbs.

While still seeking strong prospects for the suburban land market, in which OpenCorp is active with Umbra in Melbourne's northern suburb of Greenvale, the change of tact into apartment developments is one of acting when the time is right.

<blockquote>
The changing demographics of our cities is increasing the proportion of multi-residential dwellings being purchased and constructed. We anticipate this trend to continue and certainly see ourselves as being a key player, long term, in the inner-urban form of our major cities.
<cite>Matthew Lewison</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/imagepreview.jpg" rel="gallery-all" title="Savills' imagery for 757-763 Toorak Road"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/imagepreview.jpg?itok=2eqxCala" title="Savills' imagery for 757-763 Toorak Road" width="580"></a>

<figcaption>Savills' imagery for 757-763 Toorak Road</figcaption></figure>First cab off the rank was the recently purchased 757-763 Toorak Road which was secured via a competitive tender process for $6.5 million. The former VicRoads land holding is now in the hands of RotheLowman with a planning application set to be lodged this month. The quick turnaround time will continue with sales anticipated to commence on the high-end project during early 2017.

The 1,595sqm block holds a frontage of 39.65m and was offered for sale with a development concept for 52 apartments and two retail tenancies.

Matthew Lewison expects an end value of approximately $48m for the Hawthorn East project which will target owner-occupiers and sit aside a fellow upcoming RotheLowman-designed apartment project at 771 Toorak Road.

Keeping within Boroondara, OpenCorp have another project planned for Ivanhoe with initial concept plans expecting 55 apartments or thereabouts. Mid-2017 is the targeted launch for the project.



<blockquote>
We recognised when the Boroondara Council changed their planning scheme there would be a limited supply coming into the market as a result, so we have been aggressively chasing opportunities in that area.
<cite>Matthew Lewison.</cite>
</blockquote>

As for aspirations on a grander scale, OpenCorp do plan to establish a presence in Sydney during coming years, although "We have missed the market cycle in Sydney this time around." Diversifying into different markets is on OpenCorp's agenda with a geographical spread key to taking advantage of different market cycles.

OpenCorp future strategy will see the firm limit itself to Australia's major markets.

<h2>Investing in success</h2>

757-763 Toorak Road is expected to be made available to investors via OpenCorp's Open Access Fund. Essentially a crowd-funded Property Development Fund, the Open Access Fund allows anyone from first-time to elite investors to have a hand in property development.

OpenCorp's crowd-funded model is applied across a host of projects, with a Product Disclosure Statement (PDS) in the works for their Hawthorn East acquisition and expected to be ready by April 2016.

This method of development differs from the traditional developer model, allowing participants in the project to receive a share of profits from the development of the project.
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