Joint venture partners <a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> are officially launching the third and final residential stage at their landmark $350 million harbourfront precinct, Putney Wharf, with The Residences representing the final opportunity to secure a new home within this rare waterfront destination.

Strong demand has already been established across the earlier stages of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-residences-20-waterview-street-putney-nsw-2112">Putney Wharf</a>, with more than 50 per cent sold ahead of this final release. The Residences will introduce a selection of the precinct’s most premium apartments, many of which were deliberately reserved for this concluding stage.

Located at 20 Waterview Street, <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a> NSW, the completed precinct will comprise 67 residences, including 18 terraces and 49 apartments, alongside five retail tenancies and a 36-berth marina.

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Developed alongside partners Phoenix Property Investors and Mitsubishi Estate Asia, Putney Wharf occupies a prized 300-metre stretch of absolute waterfront and incorporates the historic former Halvorsen’s Boatshed. The precinct connects directly to surrounding parklands via a landscaped foreshore walkway and a large, landscaped podium linking both sides of the development to the adjoining foreshore parklands.

The Residences comprise two newly built, three-storey apartment buildings delivering a boutique collection of 30 generously proportioned waterfront apartments. Designed to capture harbour outlooks, natural light and cooling breezes, The Residences balance architectural refinement with relaxed, low-maintenance living.

Architecturally designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the apartments continue the cohesive design language seen across the broader precinct. A refined palette of light and dark materials, softer-toned stone and neutral, earthy finishes reflect the surrounding landscape and harbour setting. Interiors feature painted timber veneers, tactile joinery, timber flooring to living spaces and 100 per cent natural wool carpets in bedrooms, creating warm and sophisticated homes.

[smartcode_project:default project_id=13962 project_image_fid=362525]

Justin Brown, Executive Chairman and Founder of Abadeen, said the release of the final residential stage marks an important milestone for the project.

“Putney Wharf brings together everything we’ve learned over more than 25 years of development,” Mr Brown said. “It respects the site’s extraordinary maritime history while delivering contemporary homes that connect people directly to the harbour.

The Residences offer the rare combination of low-maintenance apartment living, waterfront outlooks with beautiful sunset views, and the convenience of retail and amenity at your doorstep. For boating enthusiasts, the opportunity to secure a private marina berth completes a truly unique Sydney harbourfront lifestyle.”

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PERIFA Managing Director and Co-Founder Fabrizio Perilli added that the diversity of housing across the precinct has been central to the project’s success.

“Whether it’s the heritage Halvorsen’s apartments, the Waterview Terraces or now The Residences, Putney Wharf offers a range of homes that respond to different lifestyles, all united by an unrivalled harbourfront setting,” Perilli said. “This is a precinct that will add lasting value to the Putney community.”

Managing project marketing and sales, <a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Partner Tim Rees said the final release has already attracted strong demand reflecting the project’s unique harbourfront position and the success of earlier stages.

“Following the strong response to both the Halvorsen’s Boatshed residences and the Waterview Terraces, The Residences represent the final chance to secure a new home within this tightly held waterfront precinct,” Rees said. “Buyers are drawn to the rare combination of absolute harbour frontage, parkside living and genuine architectural quality.”

[smartcode_project:default project_id=13962 project_image_fid=362240]

Putney Wharf is a one-of-a-kind mixed-use destination, delivering an exclusive residential offering alongside waterfront dining, retail and a 36-berth marina designed to the latest Australian Standards, accommodating vessels up to 18 metres and helping address Sydney Harbour’s ongoing marina shortage.

The precinct will include five retail tenancies and a prominent waterfront jetty area fronting the retail village, creating an activated harbourfront destination for residents and visitors alike.

Residents will enjoy direct access to lush harbourfront parklands, a public foreshore walkway and landscaped podium gardens connecting the development to the surrounding waterfront reserve. Construction across the Putney Wharf precinct is expected to be completed by Q2 2027.

Sales of The Residences officially launch this weekend, with the display suite open Saturday and Sunday from 10am to 12pm at Putney Wharf. Visitors are invited to enjoy a complimentary coffee while touring The Residences and experiencing the Putney Wharf lifestyle firsthand.

[smartcode_project_cta:default project_id=13962]

Joel Robinson

Final Harbourfront release in Putney Wharf launches this weekend

<a href="https://www.apartments.com.au/developers/draycon">Draycon Building</a> is nearing completion of Boutique Chevron Island, a 42-apartment development on the northern end of Chevron Island at 17–19 Parneno Street, with a limited-time offer of fully furnished apartments available.

Now more than 90 per cent complete, <a href="https://www.apartments.com.au/buildings/boutique-chevron-island-17-19-parneno-chevron-island-qld-4217">Boutique</a> has been shaped by one of the Gold Coast’s most tightly held island addresses, where riverfront outlooks and walkable access to Surfers Paradise converge.

For Draycon Building Managing Director Howard Dabit, the appeal of the site was immediate.

“I knew it was a good site as soon as I saw it,” Dabit said.

“The position and location on the north end of <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>, the way the river swirls around the site basically from the north to the east, it feels like the site is surrounded by the water. The height that we’ve got and the aspect looking north is beautiful. Eighty per cent of the apartments are looking north so they get that drenching sunlight coming in.”

[smartcode_project:default project_id=89709 project_image_fid=360922]

That northern orientation places the development within a stretch of Chevron Island defined by open river aspects and skyline views, while remaining embedded in the suburb’s established village setting.

Chevron Island has increasingly drawn owner-occupiers seeking centrality without the intensity of high-rise beachfront living. Positioned at the geographical centre of the Gold Coast, the island offers direct access to both the beach and key cultural infrastructure while retaining a neighbourhood-scale character.

Connected by bridge to Surfers Paradise, Chevron Island offers walkable access to beaches, riverfront parklands and a revitalised foreshore boulevard animated by walkers and cyclists throughout the day. The Pacific Ocean is only minutes away, reinforcing the suburb’s dual river-and-surf identity.

At the same time, Thomas Drive forms the spine of the island’s village life, delivering cafés, wine bars, casual dining and everyday services within easy reach. Independent grocers, wellness operators and neighbourhood retailers contribute to a community atmosphere that remains distinct from the vertical scale of the beachfront.

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In the opposite direction, the Green Bridge links directly to HOTA – Home of the Arts – placing galleries, performance venues and parklands within walking distance. Weekly markets and major exhibitions draw visitors from across the region, while residents return to a quieter residential pocket at day’s end.

Public transport, including nearby bus routes and the G:link light rail corridor along the coastal spine, strengthens connectivity north and south. Griffith University, the Gold Coast University Hospital precinct and established private schools such as The Southport School are all within a short drive.

Ongoing investment across Surfers Paradise, HOTA and the broader Southport corridor has elevated amenity while preserving Chevron Island’s comparatively low-rise residential character. It is this balance, walkable village atmosphere paired with metropolitan-scale infrastructure, that continues to differentiate the suburb from higher-density beachfront precincts.

Boutique comprises just 42 residences, designed to maximise river and skyline outlooks within this tightly held island setting.

Boutique Chevron Island is slated for completion in April 2026, with prices starting from $1,220,000.

[smartcode_project_cta:default project_id=89709]

Draycon Building’s Boutique Chevron Island places 42 residences at the heart of the Gold Coast

Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a> has secured planning approval for a $300 million residential development in Lindfield, marking the company’s second project on Sydney’s North Shore and its first on the Upper North Shore.

Located on Beaconsfield Parade and designed by DKO Architecture, the state significant development comprises three buildings of up to 10 storeys and will include 399 residences, including 59 affordable homes and 40 adaptable homes.

Residences will range in size from one, two and three bedrooms, with two-bedroom apartments accounting for over 60 per cent of the product make-up. Residents will have access to a broad suite of amenities, including a wellness area, indoor and outdoor recreational spaces, a pool, a gym, a community room and a golf simulator.

In line with Deicorp’s long-standing focus on creating transit-oriented communities, the project is located just 260 metres from the Lindfield Train Station, reinforcing its role in delivering well-connected housing close to established infrastructure, retail and local services.

The inclusion of affordable and adaptable housing supports greater diversity within the local market, while the mix of apartment types responds to demand from downsizers, young professionals and families seeking access to the Upper North Shore.

Deicorp Founder Fouad Deiri OAM said the approval represents an important milestone for both the company and the suburb

“This approval allows us to deliver well-designed homes in a location that is already supported by strong transport and community infrastructure," Deiri said.

"Our focus is on creating places that integrate into their surroundings and provide long-term value for residents, and the broader Lindfield community. Being within walking distance of the station ensures this project supports sustainable growth in the right locations."

Across its portfolio, Deicorp currently has 4,703 apartments under construction, playing a leading role in shaping connected, liveable communities across Sydney.

Its expanding portfolio of Metro-linked developments includes Tallawong Village, <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> in Five Dock, <a href="https://www.apartments.com.au/new-apartments/hyde-metropolitan-sydney-133-141-liverpool-street-sydney-nsw-2000">Hyde Metropolitan</a> in Sydney CBD, <a href="https://www.apartments.com.au/new-apartments/falcon-alexander-crows-nest-8-alexander-street-crows-nest-nsw-2065">Falcon &amp; Alexander</a> in Crows Nest and Showground Village, Castle Hill.

Deicorp purchased the Beaconsfield Paradise site last year. Construction is scheduled to commence in Q2 of 2026 and will be completed in 2029.

Deicorp expands portfolio to nearly 5,000 apartments with Lindfield project

In a joint venture with The Trump Organization, Australia developer Altus Property Group has announced plans to bring a Trump International Hotel &amp; Tower to the Gold Coast, marking the first Trump-branded project in Australia.

"Trump International Hotel &amp; Tower, Gold Coast is our first official project in Australia and reflects our unwavering commitment to delivering world-class luxury experiences in iconic locations around the world," Eric Trump, Executive Vice President of The Trump Organization, said.

"This development exemplifies the Trump brand’s dedication to quality, sophistication, and unmatched service, and we are thrilled to bring this vision to the vibrant Gold Coast community."

The 91-storey building, which will become the tallest in Australia at 335 metres, will feature a&nbsp;285-room luxury hotel bearing the trademark Trump logo. It will also include 272 luxury residential apartments, a three-level podium with an exclusive Beach Club, and over 3,400 sqm of premium commercial, retail, and dining space, revitalizing the central Surfers Paradise precinct.

“Trump International Hotel &amp; Tower, Gold Coast will be a truly unique offering in the Australian market, bringing the prestige and allure of a world-class luxury brand,"&nbsp;Altus founder and chief executive David Young said.

"Altus Property Group is proud of its track record in delivering landmark developments across Australia, and our expertise ensures this project will be an outstanding success."

Trump Hotel heads for the Gold Coast to become Australia's tallest building

More than a century after the Corrimal Coke Works first opened in 1912, the industrial landmark that helped shape the suburb is being reinterpreted as a walkable residential neighbourhood, with Stage One of <a href="https://www.apartments.com.au/new-apartments/the-works-stage-one-27-railway-street-corrimal-nsw-2518">The Works</a> now underway at 27 Railway Street.

For 102 years, the site was central to <a href="https://www.apartments.com.au/developments/corrimal-nsw-2518">Corrimal</a>’s economic and social identity before operations ceased in 2014. Rather than erasing that legacy, developer Legacy Property has embedded it into the masterplan, retaining and reinterpreting elements such as the iconic 1912 brick chimney and sections of the original C1 Coke Oven Battery, alongside the adaptive reuse of the former powerhouse building.

Stage One will introduce 181 apartments across low-rise buildings, offering predominantly two and three-bedroom residences with completion targeted for mid-2027. The scale and configuration reflect a deliberate focus on owner-occupiers, targeting those seeking a lower-maintenance home in a prime location within the northern suburbs of Wollongong.

[smartcode_project:default project_id=143415 project_image_fid=359833]

Apartments have been designed to maximise natural light and cross-ventilation, with floor-to-ceiling glazing extending living areas onto generous balconies. Engineered timber flooring, induction cooktops and 900mm ovens in larger residences support everyday functionality, while two interior palettes allow buyers to tailor finishes to their preferences. The material selection draws on a restrained coastal language, intended to connect homes to their surroundings rather than compete with them.

The Works forms part of a broader 18-hectare masterplan that will ultimately deliver around 550 dwellings, new parks, and a heritage precinct celebrating the site’s past. More than seven hectares are dedicated to open space, including Southern Park and a Village Green with community gardens and recreation areas. The creek corridor is being rehabilitated with 150,000 native plantings, restoring biodiversity to the site and softening landscape.

[smartcode_project:default project_id=143415 project_image_fid=359841]

Positioned adjacent to Corrimal Station and within walking distance of Corrimal Town Centre, the precinct places daily essentials, rail connections and local retail within easy reach. Wollongong CBD, including the hospital, university and entertainment venues, sits approximately 6.5 kilometres to the south.

For buyers more familiar with North Wollongong, Corrimal offers a different proposition: a well-established coastal suburb framed by beaches to the east and the escarpment to the west, with a strong sense of local identity shaped in part by the former Coke Works. The Works seeks to reinforce that identity by creating a connected, walkable neighbourhood between coast and escarpment, rather than a standalone apartment complex.

Sustainability underpins the development approach. The Works is targeting Wollongong’s first 5-Star Green Star-rated community, with water-sensitive urban design, recycled materials and energy-efficient buildings integrated across the masterplan. For residents, these measures provide not only environmental benefits but also reduced operational costs and future resilience.

[smartcode_project:default project_id=143415 project_image_fid=359842]

With construction commenced and display materials available to view, prospective buyers can now engage more directly with the project’s vision, reviewing floorplans, material selections and the broader masterplan in detail. For many local homeowners weighing a move, the opportunity to experience how heritage, landscape and contemporary design intersect may help bridge the gap between familiarity and the next chapter.

As Stage One progresses toward its mid-2027 completion, The Works represents a significant chapter in Corrimal’s evolution, transforming a site that once powered local industry into a walkable residential precinct designed for its next generation of residents.

[smartcode_project_cta:default project_id=143415]

Legacy Property’s The Works reimagines Corrimal’s century-old Coke Works

Samuel Property

Louise Melbourne, the striking Samuel Property-developed, Cera Stribley-designed apartment project just off Albert Park, has hit a major milestone.

The 16-level development, which launched last year, is now 70 per cent sold, after a strong run of sales in the first half of 2023.

Blair Property Group's Darren Blair, who is exclusively marketing Louise, says the majority of apartments have been snapped up by downsizers.

"Every purchaser from level 10 and above is a downsizer," Blair says.

"They picked up all of the big apartments on the sought-after north west corner, which will offer the best views in the building."

[smartcode_project:default project_id=112174 project_image_fid=199592]

Blair says there was a big run of sales to downsizers and owner-occupiers toward the back end of last year, and that's spilled into 2023.

"Buyers are starting to see some positives in the market in 2023", Blair notes.

"There's also a large cohort&nbsp;who are wanting to completely exit the rental market, as prices continue to trend upwards."

The diverse product mix in Louise, a mix 89 one, two and three-bedroom apartments, has seen a diverse number of buyers come through the door.

[smartcode_project:default project_id=112174 project_image_fid=199599]

Blair has said investors are slowly starting to come out of the woodwork, primarily from overseas, as local investors wait to see the RBA's next move.

The development team, led by prominent developer Samuel Property, are also well advanced in their construction phase. They're hoping to start demolition of the block of 1950s flats on the 1224 sqm site in March, with the aim of commencing construction on Louise in May.

Well regarded builder Hamilton Marino will be in charge of construction.&nbsp;

"They're a well versed builder with a good name in the market, which will breed further confidence for buyers," Blair added.

[smartcode_project:default project_id=112174 project_image_fid=199597]

Prices start at just over $500,000 for the one-bedroom apartments in Louise Melbourne, and $719,500 for the two-bedrooms.

Aptly named Louise, the site is&nbsp;situated on the north-west corner of Louise Street and Queens Lane, and is a nod to the surrounding art deco architecture, blending 1920's design charm with the sensibilities of modern urban living.&nbsp;&nbsp;

There's extensive resident amenity in the building. A swimming pool, which is located beneath a distinctive skylight, forms the heart of a wellness centre, which also features a steam room and a landscaped outdoor terrace that wraps around the communal areas.

[smartcode_project:default project_id=112174 project_image_fid=199646]

There's also&nbsp;a bookable private dining room, which comes with a fully-equipped kitchen, and a private lounge area, which has been designed as a&nbsp;space for more informal get-togethers.

Samuel Property,&nbsp;who since being founded in 2009 by its current Managing Director Illan Samuel, have predominantly concentrated on the high-end boutique owner-occupier market in some of Melbourne's most affluent suburbs.

Their last two projects have been Willow, just 14 apartments in Brighton, and most recently Edition in Toorak, on the dress circle Lansell Road, which has just three house-sized residences.

They have just received approval for 91 apartments across two five-level buildings on Phillip Island.

[smartcode_project_cta:default project_id=112174]

Blair Property Group's Darren Blair, who is exclusively marketing Louise, says the majority of apartments have been snapped up by downsizers.

Louise Melbourne hits 70% sold

The prominent Melbourne developer&nbsp;Samuel Property is taking on something a little different for its next residential project.

They&#39;re set to&nbsp;launch&nbsp;Louise, their anticipated apartment tower just off the sought-after St Kilda Road.

Named after its location at 8 Louise Street, Louise will home 98&nbsp;apartments across its&nbsp;16&nbsp;levels,&nbsp;a maximum of just eight apartments per floor.

The tower will be crowned by a near 600 sqm penthouse with 360 degree views of the city, Albert Park, and&nbsp;Faulkner Bay.

Blair Property Group Founder Darren Blair, who is handling the sales of Louise, says there&#39;s something for everyone at Louise, with one, two, three and four-bedroom apartments on offer.

[smartcode_project:default project_id=112174 project_image_fid=199595]

&quot;We&#39;re expecting everyone from investors and first home buyers interested in the one and two-bedroom stock, to downsizers and owner-occupiers looking at the larger two beds into the three-beds,&quot; Blair says, adding that he expects to be fielding plenty of enquiry from families, as well as those who maybe live down in Mornington Peninsula but want a city pad.

The building is more focused on the owner-occupier, with just over 10 per cent one-bed apartments. Two-bedroom apartments make up two thirds of the building. Blair believes some will get merged to make larger apartments by those seeking a bigger space.

Buyers can purchase in the building from $497,500, with the biggest, higher-level apartments looking to achieve over $11 million.

The location reigns supreme for Louise, just moments from Albert Park and a short stroll to Fawkner Park.

&quot;The project has the best of Melbourne on its doorstep,&quot; Blair adds.

&quot;Where does your $10 Uber take you where you live? From Louise it takes you to the best parts of Melbourne, from the city to Chapel Street and even Middle Park Beach.&quot;

Renowned architects Cera Stribley have handled the design of Louise, with a&nbsp;vision to deliver a building that is more sensitive to the characteristics of St Kilda Road.

[smartcode_project:default project_id=112174 project_image_fid=199598]

The building is in keeping with the surroundings for the first three levels to the podium, a red brick finish paying homage to the current streetscape.

Cera Stribley Managing Principal, Domenic Cerantonio said it was important future-residents of Louise were provided an exceptionally designed dwelling that complemented the well-endowed local area.

&ldquo;Every aspect of Louise has been designed to epitomise quality of life,&quot;&nbsp;Cerantonio says.

&quot;When it comes to apartment living, there are few buildings that offer such an incredible location as Louise. From sunrise to sunset, there is so much to love about the area; parks, beach, city &ndash; the lifestyle here has it all.

[smartcode_project:default project_id=112174 project_image_fid=199602]

&quot;The interior design of Louise is very much inspired by this unparalleled locale, and the Art Deco glamour of the heritage architecture found around the area.&rdquo;

Louise is a change of tact for Samuel, who since being founded in 2009 by its current Managing Director Illan Samuel, have predominantly concentrated on the high-end boutique owner-occupier market.

Their last two projects have been Willow, just 14 apartments in Brighton, and most recently Edition in Toorak, on the dress circle Lansell Road, which has just three house-sized residences.

But they&#39;ve kept the same principles in Louise, focusing on the owner-occupier and creating spaces to be lived in.

[smartcode_project:default project_id=112174 project_image_fid=199603]

The opportunity arose when Samuel secured a block of 1950s flats, on a prized 1224&nbsp;sqm block, for $21 million last year.

Demolition of the flats is expected to commence this year, with construction to start in early 2023. The build is expected to take around two years.

It&#39;s&nbsp;a rare opportunity for buyers to get near the prestigious St Kilda Road precinct, and to buy into a project that while is a large building, isn&#39;t as high density as some of its neighbours.

[smartcode_project_cta: project_id=112174]

The building is in keeping with the surroundings for the first three levels to the podium, a red brick finish paying homage to the current streetscape

Samuel Property set to launch design-driven Melbourne apartments, Louise 

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Nine months down and heading into the home stretch of 2015, I feel like a lot of local developers are very much standing on the sidelines. They are just itching to get into the marketplace, but have either been the bridesmaid but never the bride in missing out on their desired sites, or are simply waiting for the market to cool down.

If you refer to yourself as a “developer”, you instinctively have trouble with the above two scenarios. You want to find that next project, but you can’t overpay. Surely the market is about to turn downwards. It has to!

The flow of money from Asia has to stop soon, it can’t keep going on like this forever! Maybe, but maybe not. No one has the magic property 8-ball.

Some have turned to selling existing sites (with or without permits) given how strongly the market has performed, while others have looked at sites interstate or further out from the Melbourne CBD, something they would have never originally considered. Whilst most would never admit it, they are now working to smaller profit margins.

Are there risks in the above? Absolutely. Flipping sites is never easy, and the profits can pale (as do the risks) in comparison to actually developing the end product. Investing in an interstate market can be fraught with obstacles, from using an unknown consultant team, misunderstanding local planning laws, and misjudging the end market based on a lack of local knowledge.

Working to a smaller profit margin also leaves one open to a correction in the marketplace from increased supply (or just a stalling of appetite) on end residential values or the mercy of builders/construction cost. If the margin gets too tight, that will trickle onto lenders viability to lend against the project, no matter how maybe boxes may be ticked to de-risk.

<h2>What other issues are we seeing?</h2>

Obtaining planning permits is getting more and more challenging to forecast from a time/cost perspective. Local councils in the middle or outer ring of Melbourne are struggling to keep up with applications and the ability to correctly vet them. Many are simply deemed too hard in unknown GR zoned land, and have refused to let VCAT make the decision.

I’d also suggest there are some political benefits in this approach given heavy local objector groups in some municipalities. In the inner city, the backlog with the Planning Minister is still significant from all reports. Is there a risk of a bottleneck, or Melbourne becoming just “too hard”?

We might find out if overseas developers don’t make repeat purchases, or a few local developers come unstuck working to lower margins.

Local buyers are also becoming more sophisticated in every respect. Where location has traditionally been “King”, a smart floor plan is now “Queen”; and buyers want both! A one bedroom apartment can be sized at 52 sqm with an outdoor area, but if the kitchen is stuck in a dark corridor or the living space is too narrow to accommodate a couch, coffee table, and TV unit, be prepared to be left with that stock at settlement unless heavily discounted or sold wholesale.

Developers really need to push architects to create usable spaces whilst balancing yield requirements. Too often a developer can get caught up with profitability, and that is of course important. But it is also important to realize an actual profit and not carry compromised stock. Your last stock sold is often your profit.

Also, selling apartments off the plan is more sophisticated than ever before, predominantly due to the quality of 3D renders which often reflect a kitchen or bathroom buyers might have been used to seeing in “The Block”. It’s great that the marketplace is pushing quality, but this comes at a cost.

I am certain buyers expect the finished product to look like the marketing render, regardless of how many “artist impression” disclaimers might appear in the bottom corner. Everyone loves putting in some feature joinery or a nice pendant, and it should also be in the apartment at settlement.

Do I still think there are opportunities in the marketplace? Without a doubt. Samuel Property have sold two development sites (one with and one without a permit) this year, two developments have been sold out off the plan, and we’ve purchased five other parcels for development. Property is supposed to be long term and safe, whilst the stock market is supposed to be fluid and liquid.

But in the current 2015 marketplace, I see some similarities. If you intend to be active, you need to be willing to be nimble, do your due diligence, act with conviction as you read the market, and be comfortable with the high risks associated with your project.

Whatever comes in 2016, it won’t be the same as 2015.

Illan Samuel is the Managing Director of <a href="http://www.samuel.com.au/">Samuel Property</a>.
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LittleGeneral

Don't just stand there, buy something!

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One of the major changes to planning during the term of the last Victorian Government was the implementation of <a href="/news/planning-minister-approves-new-residential-zones-in-39-victorian-lgas">new residential and commercial zones</a> right throughout <a href="/news/planning-minister-approves-new-residential-zones-in-39-victorian-lgas">metropolitan and regional areas</a>.

The new planning zones were designed to provide clarity to the community and also to developers in order for them to make investment decisions with a clear understanding of what can be built on the sites they purchase.

One developer which is working away in the General Residential and Residential Growth Zones is <a href="http://www.samuel.com.au/">Samuel Property</a>.

To date Samuel Property have begun development of two projects: Vela in Blackburn and Lennox Glen Iris. Apartments.com.au recently chatted with Illan Samuel who is head of the company and some interesting planning anecdotes came out of the conversation.

<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/lennox.jpg" rel="gallery-all" title="Lennox Glen Iris. © Samuel Property"><img alt="" class="image-article-full-width-580px" height="337" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/lennox.jpg?itok=XRuU3Ah1" title="Lennox Glen Iris. © Samuel Property" width="580"></a>

<figcaption>Lennox Glen Iris. © Samuel Property</figcaption></figure>Lennox, located at 25 Belmont Avenue North in Glen Iris, was initially targeted at the downsizer market and four weeks out from kicking off the marketing campaign for the project, a decision was made to switch direction and target young professionals.

All 20 apartments were sold in 4-5 weeks and it attracted “very much a hyper-local buyer pool - young people who were either renting or originally grew up in the area - and no offshore buyers” according to Samuel.

Illan Samuel told Apartments.com.au that development sites in side streets right near main strips are preferred; buyers like being close to the action but not directly on the main drag as it were. Lennox in Glen Iris and Vela in Blackburn fit this bill.

Take this <a href="http://planningschemes.dpcd.vic.gov.au/__data/assets/pdf_file/0007/194614/whitehorse02zn.pdf">map of zones</a> for the Blackburn area in Whitehorse, Vela Blackburn as seen in the render below is located at 4 Station Street, just off Whitehorse Road and right inside the <a href="http://planningschemes.dpcd.vic.gov.au/schemes/whitehorse/ordinance/32_07s03_whse.pdf">RGZ3</a> zone. Lennox in Glen Iris located at 25 Belmont Avenue North comes under <a href="http://planningschemes.dpcd.vic.gov.au/schemes/stonnington/ordinance/32_08s10_ston.pdf">GRZ10</a> according to <a href="http://planningschemes.dpcd.vic.gov.au/__data/assets/pdf_file/0007/191743/stonnington06zn.pdf">Stonnington zone maps</a> for Glen Iris.

<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/apartments4.jpg" rel="gallery-all" title="Vela Blackburn. © Samuel Property"><img alt="" class="image-article-full-width-580px" height="330" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/apartments4.jpg?itok=7vqlzmIm" title="Vela Blackburn. © Samuel Property" width="580"></a>

<figcaption>Vela Blackburn. © Samuel Property</figcaption></figure>Vela in Blackburn, like Lennox in Glen Iris, has sold out of its 24 apartments and Illan told Apartments.com.au the sales campaign drew in a lot of local buyers.

As is the custom when Apartments.com.au asks developers about future plans, there was a lot of coyness, but Illan did tell us that a similar profile development - side street just off a main strip in RGZ or GRZ - is currently at planning in Glen Eira.

Vela in Blackburn is already under construction and Lennox Glen Iris is set to commence construction in October.

<h2>Comment</h2>

There is still, no doubt, scope to improve the planning zones further. For instance, encouraging (forcing?) councils to apply them to more areas in their LGA and experimenting with other "carrot or the stick" tools like density bonuses which might allow developers to build an extra level in exchange for affordable or social housing components in developments located in any General Residential or Residential Growth Zone.

Regardless, it is encouraging to see capital seek out these development opportunities and from early-adopter and entrepreneurial developers as well; as it is the little things, built in high volume, that are going to count over the long run if Melbourne is to reach the goal of diversifying its residential stock as we grow over the coming decades.

Lead image credit: Lennox Glen Iris location, <a href="http://www.lennoxgleniris.com.au/video">Samuel Property</a>.
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