For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Sustainability

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SPONSORED POST
For some time now, Australia has featured at the forefront in the growth of green buildings, a trend which has been reinforced with the recent Global Real Estate Sustainability Benchmark results.
However, while Australia’s premium office market moves toward the next building evolution in optimising human health and wellness, the mid-tier office market is yet to see any notable shifts in energy and emissions reduction.
Mid-tier office challenges and opportunities
The breadth and size of this market is compelling. The Australian Sustainable Built Environment Council’s recent Low Carbon High Performance report cites mid-tier offices are estimated to make up 52 million square meters of the 64 million square meters of office space nationally.
Policy makers have taken this into account and have started to focus more heavily on investigating the associated challenges and opportunities facing this sector. One of the resulting reports has been the 2015 Mid-tier Commercial Office Buildings in Australia (‘Pathway’) report produced by Green Building Council of Australia, following extensive collaboration between government and industry stakeholders.
This report shone a light on the complex barriers affecting change - notably the lack of knowledge, capital, resources and time faced by building owners / managers with respect to the adoption of energy efficiency measures. 
<img src="/images/2016/09/21/700_light.jpg" alt="">
Carrot and stick approaches
Drawing on some of the recommendations contained within the Pathway report, there have been a number of recent policy and program developments. A planned reduction in the threshold for the Commercial Building Disclosure program in mid-2017 is expected to see a good deal more small building owners being legally required to measure and disclose the energy efficiency of their assets. While there is potential for this scheme to work, it will be heavily influenced by tenant demand for green office space at this end of the market.
At the other end of the carrot and stick approach lies the need for targeted financial incentives:   
<ul>
<li>Sustainability Victoria’s Energy Efficient Office Buildings Program was aimed at mid-tier office buildings through matched funding grants of up to $150K.</li>
</ul>
<ul>
<li>NSW’s Office of Environment and Heritage has recently initiated the ‘No More Average Buildings’ program, which provides financial assistance for energy efficiency improvements in buildings with low NABERS Energy ratings. </li>
</ul>
<ul>
<li>At a national level, there are calls to consider measures such as ‘green depreciation’ in which tax breaks could help drive greater investment in energy efficiency measures when building refurbishment works are carried out.  </li>
</ul>
Efficiency in a global context
Looking around the world, locations such as the United States, European Union and Japan are aiming to achieve net zero energy performance for their respective commercial buildings in the next few decades.
In the United Kingdom, by mid-2018, it will be unlawful for commercial building owners to lease poorly performing buildings, which at current estimates represent close to 20 percent of the national market.
The penalties for non-compliance with the legislation are expected to be considerable, but balanced against this is the provision of grants and subsidies to assist building owners. With talk of the energy-efficiency bar being raised in subsequent years, this new approach in the UK is sure to provide an interesting litmus test for other jurisdictions around the world, including Australia, to consider.
This article was written by Dale O’Toole, Savills Manager of National Sustainability. Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. To learn more about Savills sustainability services, visit <a href="https://www.savills.com.au/services-and-sectors/savills-earth.aspx" target="_blank">savills.com.au/earth</a>.
 
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jchancellor-FAypfDUnLy

Energy efficiency in the mid-tier market: should we be dangling the carrot or brandishing the stick?

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<img src="https://counter.theconversation.edu.au/content/64595/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Australia will join the 71st United Nations General Assembly in New York this week.
Some of the discussion will focus on progressing the 17 Sustainable Development Goals (SDGs), as agreed at the UN last year.
Australia is a signatory to the goals, but it is difficult to know where to begin, as the goals are further broken down into 169 targets. These range from eradicating extreme poverty to developing measurements of progress on sustainable development.
But new research from the University of Queensland reveals that actions on climate change (SDG 13) and global partnerships (SDG 17) are likely to influence all other efforts by Australia to achieve the other SDGs.
<h2>Australia’s role in sustainable development</h2>
The SDGs form part of the UN development agenda, Transforming Our World: The 2030 Agenda for Sustainable Development, released in September 2015.
Unlike the preceding UN Millennium Development Goals, which ran until 2015, the SDGs apply to all countries and citizens to create a common outlook, irrespective of the country’s level of development. The new goals are to be achieved by 2030.
The Australian government has emphasised the role of the SDGs in reinforcing economic growth, development and investment in the Indo-Pacific region, and has assigned the SDGs to the portfolios of Foreign Affairs and Trade (DFAT), and Environment.
Australia’s support for the SDGs is laudable. But the focus on international trade and investment, with responsibilities placed in only two portfolios, limits Australia’s potential for significant social, economic and environmental improvement on the SDGs at home and abroad.
<h2>But where do we start?</h2>
Part of the challenge of the SDGs is their complexity and the way they link together. This may explain Australia’s limited approach to date.
To help navigate this web of goals, we mapped the most influential goals. We found the goals that affect all the others are climate action (SDG 13) and global partnerships (SDG 17). Without these, the other goals are very difficult to attain. 
For example, the increased intensity of extreme weather events due to climate change will likely make it harder to achieve clean drinking water under SDG 6. In droughts, less water is available, and in floods, the water is often contaminated. Both events result in the proliferation of diseases.
These findings also identified that the goal for health and wellbeing (SDG 3) is the ultimate goal: every other SDG contributes towards this outcome. For example, a woman who has given birth to a daughter cannot achieve optimal physical, social and mental wellbeing for herself and her child without proper nutrition (SDG 2), access to clean water and sanitation (SDG 6), gender equality (SDG 5) and adequate financial resources (SDG 1).
We also found that within SDG 6, implementing the integrated water resources management target (6.5) enables the other SDG 6 targets to be met. Australia’s Murray-Darling Basin is a good example of this type of approach. There, states negotiated across borders to reduce salinity, minimise extractions and improve water quality.
<h2>Can we do it?</h2>
Linking together these goals will require high-level government co-ordination beyond merely the DFAT and environment portfolios.
Our policy analysis found that no single portfolio can take responsibility for the entire set of 17 SDGs – and that all 21 government departmentshave more than one SDG relevant to their responsibilities.
Australia’s ability to progress the SDGs in Australia and overseas is likely to be more attainable with the involvement and cross-collaboration of other portfolios.
The UN SDGs are an opportunity for Australia’s efforts towards sustainable development to be recognised on a global stage. To achieve progress on this complex agenda we have to understand that climate action and global partnerships are crucial to sustainable development and ultimately to health and wellbeing.
Nina Lansbury Hall is sustainable Water Program Manager, Global Change Institute, The University of Queensland and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/nina-lansbury-hall-211334" target="_blank">here</a>.
Dani J. Barrington is lecturer, Global Change Institute, Honorary Fellow, School of Public Health, The University of Queensland and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/dani-j-barrington-104657" target="_blank">here.</a>
Russell Richards is ecosystem modeller at the University of Queensland and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/russell-richards-296266" target="_blank">here</a>.
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Climate action is the key to Australia achieving the Sustainable Development Goals

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Savills Project Management has received their second accolade in recognition of their project management services on the recently completed 180 Brisbane - the Sustainable Projects award for Queensland at the recent Australian Institute of Project Management (AIPM), 2016 Project Management Achievement Awards (PMAA).
Earlier this year, the team took home the Building Consultancy and Project Management Team of the Year award for the fourth year running, at the 2016 RICS (Royal Institution of Chartered Surveyors) Australian Awards, for their involvement with 180 Brisbane by Daisho.
The PMAA, which this year took place at Brisbane City Hall, recognise, honour and promote outstanding achievements in program and project management.
The Sustainable Projects award shines the light on projects that demonstrate project management excellence in delivering sustainable outcomes from a social, financial and environmental viewpoint, as well as those that have embedded sustainability principles and practices into their project execution processes and organisational culture.
180 Brisbane by Daisho (above) is an iconic PCA A-Grade commercial tower of approximately 59,000sq m of NLA over three levels of retail and 31 levels of office space. The $300 million project is the first in Queensland for Japanese property developer Daisho Co Ltd and also the first commercial high-rise development to be built in Brisbane on spec (without pre-commitments of tenants) since the Global Financial Crisis. 
It is a model example of practical sustainability, being the first commercial project in Queensland to achieve a 6-star GBCA Green Star V3 design rating. It is also targeting, and expected to achieve, a 6-star Green Star As-Built rating and 5.5 NABERS rating.
Multiple sustainability initiatives were incorporated into 180 Brisbane's design, with the building featuring a gas driven Tri-Generation Engine and Absorption Chillers, a diesel driven generator for back-up power, solar power and water heating systems, and grey water and rain water harvesting systems. It also incorporates a public plaza to connect the new tower with the existing commercial tower of 192 Ann Street.
The positive and healthy work environment 180 Brisbane by Daisho presents to its tenants is further supported by its significant end of trip facilities which consist of over 281 bicycle racks including visitors, 402 lockers and 24 showers and change rooms.
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jonathanchancellor-7SQnKwU6yx

Savills wins awards for 180 Brisbane project

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<img src="https://counter.theconversation.edu.au/content/63639/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The year 2016 is crucial for both food and cities. In October, UN member states will convene for the Habitat III conference in Quito, Ecuador, to discuss guidelines for sustainable urban development for the next 20 years.
In relation to food, 2016 has seen increased interest in bringing food to centre stage of many non-traditional domains. For example: this is the International Year of the Pulses; food waste is getting more attention, such as the announcement of the first global standard to measure food loss and waste; and food and agriculture lie at the very heart of the Sustainable Development Goals (SDGs).
At the 2016 Global Forum for Food and Agriculture (GFFA), UN Secretary-General Ban Ki-moon said:
"Ensuring that everyone in expanding urban areas has access to nutritious food is critical to achieving the goal of zero hunger set out in the 2030 [SDG] Agenda."
Sustainable diets are gaining traction, and many governments are demonstrating high-level commitment.
<h2>Will the new urban agenda put food on the table?</h2>
On the road to Quito, the zero draft of the New Urban Agenda bears only oblique references to food systems.
Food (security) has been “sprinkled” over physical and social infrastructure, natural resources and ecosystems, sustainable consumption, resilience, urban planning, land and mobility. It is conspicuously missing from urban basic services and altogether from heritage and culture.
This omission has occurred despite common knowledge of food’s profound impacts. It shapes rural landscapes, provides spaces for buying, selling and eating food in cities, and is integral to everyday individual and collective identities.
If the New Urban Agenda carries a promise for change, sustainable and equitable food systems in cities will perhaps only be a side dish at Quito.
<h2>Cities' role in food systems is growing</h2>
The Milan Urban Food Policy Pact is testament to the increasing realisation of the need for urban planners to make food systems central in city planning. More than half of humanity lives in urban areas.
According to the UN, nearly 70% of the global population will live in cities by 2050, making urbanisation one of the 21st century’s most transformative trends.
Of the 124 signatories to the Milan Pact, Melbourne is the only Australian signatory. Although the pact’s framework for action is voluntary, it provides strategic opt ions to those cities aiming to achieve more sustainable food systems.
Melbourne is also part of the 100 Resilient Cities project, which sees food shortages as a potential threat to urban resilience.
Increasing recognition of the multiple dimensions of food in cities is driving the urban food debate. It encompasses nutrition, ethics and social justice, and sustainability.
In Canada, the US, South America, the UK and a few cases in Australia (notably Melbourne), municipal governments are increasingly seeking ways to promote synergistic relationships between food consumers and producers. But this process remains sporadic and non-systemic.
<h2>Australian cities are complacent about food</h2>
Australians are predominantly urban dwellers. More than 80% of the population lives in the 20 largest cities.
As well as the horde of other issues for urban food systems, Australia has one of the most concentrated food retail sectors in the world dominated by the supermarket duopoly, significant health disparities between Indigenous and non-Indigenous Australians, and a serious and growing issue of food waste.
All of the SDGs have targets that are directly or indirectly related to the daily work of regional and local governments, the closest administrative units to communities. In 2015, there were 571 local governing bodies across Australia. This is the level of government best placed to link the global goals with local communities.
It is at the municipal level that the socioeconomic and environmental problems associated with food systems first become evident. In Queensland, for example, the 2011 floods showed the potential impact of disaster on urban food systems.
Despite a renewed national focus on citiesin Australia, food systems remain a secondary consideration. Neither the Australian Local Government Association (ALGA) nor the Planning Institute of Australia (PIA) has food for the cities in their strategic plans. Researchers such as Paul Burton and Meg Montagueallude to the “complacent attitude” to urban food systems in Australia.
The City of Melbourne is notable in promoting integrated local government planning on key factors that influence food systems – transport, housing, economic development and land use. Several local governments have trialled micro-level initiatives to improve health and reduce inequities, or reduce ecological footprints. Most cities are lagging, though, when it comes to food systems.
<h2>Battle will be won or lost in cities</h2>
Food systems are perhaps not as visible as other areas of urban development. They are, however, an essential element that involves many aspects of cities. These include:
<ul>
<li>
transport and infrastructure (connecting consumers, retailers and producers);
</li>
<li>
housing (access to affordable nutritious food);
</li>
<li>
recreation;
</li>
<li>
economy (food sector businesses and employment); and
</li>
<li>
culture and identity.
</li>
</ul>
Food is a new policy arena for city governments, but cannot be separated from housing, water and sanitation, energy, employment and all the other rights related to a life of dignity that local governments promote. Urban food systems are poorly understood, though. Often there is no clear jurisdiction or mandate by which city planners can manage these systems.
The challenge is to broaden the scope of policy debates beyond food supply chains and urban agriculture, to include strategic plans and reforms to tackle food systems.
This could help to identify strategic leverage points that can affect the way food business is done in cities and have significant impacts on diet-related diseases, large urban carbon footprints, food waste, social injustice and the negative impacts of supermarket power.
Indeed, the battle for sustainable development will be won or lost in cities.
Grace Muriuki is program manager, Food Systems Program, Global Change Institute, The University of Queensland and can be contacted <a href="https://theconversation.com/profiles/grace-muriuki-253591" target="_blank">here</a>.
Geoffrey Lawrence is emeritus professor of Sociology, The University of Queensland and can be contacted <a href="https://theconversation.com/profiles/geoffrey-lawrence-2886" target="_blank">here</a>.
Both are authors for The Conversation.
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Urban food systems may be just a ‘side dish’ at Habitat III

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Australia’s property market has extended its winning streak in green buildings by another year, according to a new report by data provider GRESB.
The average score of companies and funds in Australia/NZ improved to 74 in 2016 from 70 in 2015 against a global average of 60, according to the 2016 GRESB.  
GRESB is a leading data provider for environmental, social and governance (ESG) performance of real assets. For the current report, it assessed a record 759 real estate companies and funds, representing more than 66,000 assets and $3.7 trillion in gross asset value, according to a media release.
Australian property companies and funds that stood out were Lendlease, Stockland and DEXUS.
GRESB’s head of Asia Pacific, Ruben Langbroek, said Australia’s leadership reflects a long-term commitment to sustainability and a “pervasive spirit of collaboration and knowledge sharing”.
“Australia’s property industry also regards superior sustainability as a proxy for quality,” said Langbroek.
Australia now has more than 1,320 Green Star-rated buildings, and investors are increasingly demanding reliable data on energy efficiency and sustainability to help guide their decision-making, added Green Building Council of Australia CEO Romilly Madew.
“Sustainability is intimately connected with risk, reward and reputation – and sustainable buildings are not only more efficient and environmentally-friendly, but are also future-proofed assets,” said Madew.
The data also reveals that companies reporting to GRESB for seven consecutive years outperformed their peers in environmental, social and governance (ESG) by an average of 12 points.
The report named four sector leaders for Australia/NZ:
<ul>
<li>Retail: Lend Lease Sub-Regional Retail Fund – Lendlease</li>
<li>Office – Listed: DEXUS Office Trust</li>
<li>Office – Private: Australian Prime Property Fund Commercial – Lendlease </li>
<li>Diversified – Retail/Office: Stockland</li>
</ul>
Lendlease was also named ‘global leader’, coming out top of the 759 companies and funds assessed.
“Lendlease remains steadfast in its commitment to sustainability, and is currently delivering Australia’s first carbon neutral precinct at Barangaroo South. With 74 Green Star ratings under its belt – including apartments, offices, libraries and entire communities – Lendlease continues to set a high watermark for sustainability,” said Madew. 
“Stockland has achieved more ratings under the Green Star – Communities ratings than any other developer in Australia, has Green Star ratings for its entire retail portfolio and launched Australia’s first green bond.
“And DEXUS Office Trust now has 87 Green Star ratings, and has delivered some of the nation’s most iconic green buildings, such as 1 Bligh Street and 5 Martin Place in Sydney.
“We applaud these three companies for stellar sustainability leadership.”
GRESB also found that the Australia/NZ region decreased its energy consumption by two per cent over the reporting period. This decrease is the equivalent to the energy required to power 3,037 homes for a year.
The region’s four per cent reduction in carbon emissions equates to saving almost 1.4 million tonnes of greenhouse gases – the same amount generated by almost 286,000 passenger vehicles over an entire year.
“While we can be proud of our achievement, we can’t rest on our laurels. Our challenge is to keep raising the bar as we work towards a zero carbon industry,” said Madew. 
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Australia extends winning streak in sustainable property market

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Some 600 hectares of land on New South Wales' Woomargama Station has been slated for land conservation for the Nature Conservation Trust of NSW.
Clare Cannon of the Melbourne Darling family engaged the NCT to place a covenant on one third of her property.
She said feel very strongly about providing leadership in the space and showing that you can run a profitable business while also being focussed on sustainability, planting trees and preserving wildlife.
"There is an increasing customer demand for sustainable practices in farming. Woomargama Station is a serious farm business running poll merino sheep and poll Hereford cattle, exporting wool internationally," she said.
“European buyers are very interested in animal welfare, and they’re particularly interested in sustainability,” Cannon explained. “We’ve done the provenance of food, and it’s still a big issue; the provenance of clothing is the next one.
Cannon’s Woomargama NCT covenant protects box gum woodland, which is estimated to have been cleared so extensively that only around 3.5 percent of the original extent still exists.  
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Woomargama Station gifts 600 hectares for conservation

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The eighth international conference on World Class Sustainable Cities 2016 will be held on 8 September 2016 at the Sime Darby Convention Centre, Kuala Lumpur, Malaysia. 
The conference is jointly organised by three partner organisation -  the Real Estate &amp; Housing Developers’ Association Malaysia, the Malaysian Institute of Planners and the Malaysian Institute of Architects and will showcase international best practices in becoming a World Class Sustainable and Liveable City by the year 2020.  
The theme for this year is City Spaces, Public Places and will feature six speakers:  
1. Mr Mitchell J. Silver, Commissioner of Department of Parks &amp; Recreation, New York City, U.S.A.; 
2. Ms Evlyn W.Y. Cheong, President of the Singapore Institute of Planners (SIP); 
3. Professor John Byrne, Principal, Byrne Urban Design, Brisbane, Australia / Adjunct Professor, Urban Design and Architecture, Queensland University of Technology, Australia;  
4. Ar Hj Mohd Nazam Md Kassim, Director, Focus Architects and Urban Planners Sdn Bhd, Malaysia; 
5. A representative from Sime Darby Property Berhad, Malaysia (TBC); and 
6. A representative of the Young People’s Lab (YPL) 2016, Malaysia (TBC). 
For more information, <a href="https://www.wcsckl.com%20" target="_blank">click here</a>. 
 
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Sustainability conference slated for Kuala Lumpur

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<img src="https://counter.theconversation.edu.au/content/63452/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Ecosystem services – the natural processes that allow Earth to sustain life and provide us with everything we have and see – are facing an uncertain future.
Between 1997 and 2011, the global value of ecosystem services declined by up to US$20 trillion per year as a result of changing land use. To put that in context, the world’s entire GDP is currently just under US$74 trillion.
Our research shows that, in the Asia-Pacific region, this downward trend is likely to continue unless there are significant policy changes. By 2050, we predict that ecosystem service values could drop by 34% from their 2011 base value of US$13 trillion.
But, more optimistically, we also forecast that ecosystems could grow in value by 24% by mid-century, if policies are put in place to safeguard these crucial environmental values.
<h2>An Asian century (of ecosystems)</h2>
The Asia-Pacific region has historically followed the global trend in ecosystem depletion. But the future doesn’t have to be like the past. The decisions we make as a society will determine what our world will look like in that future.
With that in mind, our research focused on a range of land-use scenarios to try to forecast the consequences of various social, environmental and economic policies.
We used these scenarios to derive estimates of land-use change (urban, cropland, forest, grassland, wetland, desert), population, GDP and other variables such as inequality up to the year 2050. Changes in total value of ecosystem services in these scenarios were estimated to be due to two factors: the change in area covered by each ecosystem type; and the change in the “unit value” – the total value of all the marketed and non-marketed ecosystem services, per area, per year of each ecosystem type due to degradation or restoration. 
In the Asia-Pacific region, Afghanistan shows the greatest potential losses and gains, as do other countries that are more susceptible to desertification. At the same time, these countries also have the greatest potential for reversing land degradation.
On the other hand, in this region, countries like Japan and New Zealand have the least potential for fluctuations in their ecosystem service values. This is because they are already highly developed and potentially have more stable climates.
<h2>Australia’s prospects</h2>
Australia, second only to China in ecosystem services value, also shows an extensive range of values among our four scenarios. Starting with a terrestrial ecosystem services value of US$3.4 trillion per year in 2011 (roughly three times Australia’s GDP that year), we forecast that by 2050 ecosystem services could grow in value by as much as 21%, or decrease by up to 29%.
This translates to either a gain of US$700 billion per year or a loss of US$980 billion per year – a figure that’s not far short of Australia’s current annual GDP.
The scenarios used incorporate a range of world views and policies, and the impacts of these on the entire, integrated system, including population, energy use, equity, environmental change, climate change and more. Our research features a country-by-country breakdown of the outcomes of each scenario, although it is impossible to separate out the impact of individual policies, especially given the differences in each country.
<h2>The consequences and solutions</h2>
The loss of ecosystem services will be felt most strongly by the poorest in any society, as they depend most directly on ecosystem services. They are the first to feel the effects when those services begin to disappear, and the least able to replace or ameliorate the loss. Increasing ecosystem services, on the other hand, would increase sustainable human well-being.
Around the world, the focus on ecosystem services has been growing quickly. Recent major policy reforms in this direction include a White House memo directing US federal agencies to incorporate ecosystem services into their planning, investment and regulations.
Other countries have also begun to incorporate ecosystem services in their policies. The European Union has mandated all member countries to produce national ecosystem service assessments, for use in policy and decision-making.
At the international level, the United Nations has set up an Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services, analogous in structure and function to the Intergovernmental Panel on Climate Change. The international Ecosystem Services Partnership has also been established to co-ordinate and facilitate the exchange of information and expertise across the world.
We have taken ecosystem services for granted for far too long. The UN Sustainable Development Goals, adopted last year by all UN countries, include specific calls to promote sustainable use of terrestrial ecosystems, to halt and reverse land degradation, to ensure clean water and food security, as well as to safeguard life both on land and in the oceans.
If we are taking these goals seriously, we need to put natural capital and ecosystem services “on the books” as a major contributor to sustainable well-being.
Ida Kubiszewski is senior lecturer at Crawford School of Public Policy, Australian National University and can be contacted <a href="https://theconversation.com/profiles/ida-kubiszewski-142545" target="_blank">here</a>.
Paul Sutton is director of Graduate Studies, University of Denver and can be contacted <a href="https://theconversation.com/profiles/paul-sutton-96333" target="_blank">here</a>.
Robert Constanza is professor and chair in Public Policy at Crawford School of Public Policy, Australian National University and can be contacted <a href="https://theconversation.com/profiles/robert-costanza-145490" target="_blank">here</a>.
Sharolyn Anderson is senior lecturer, School of Natural and Built Environments, University of South Australia and can be contacted <a href="https://theconversation.com/profiles/sharolyn-anderson-288110" target="_blank">here</a>.
All are authors for The Conversation.
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Asia-Pacific ecosystems could lose a third of their value by 2050 without action

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Australia may be home to some of the world’s most liveable cities, but we have a long way to go to meet the world’s Sustainable Development Goals (SDGs).
Australia ranks 20th in the world – well behind Canada and many European countries but ahead of the United States – according to a new index that compares different nations' performance on the SDGs, which were adopted last September.
Launched at this week’s United Nations SDG talks in New York, the index marks each country’s performance towards the 17 goals. These aim to put the world on a more sustainable economic, social and environmental path, and feature 169 targets to be met over the next 15 years in areas such as health, economic growth and climate action.
The ranking, called the SDG Index and Dashboard and prepared by the UN Sustainable Development Solutions Network and the German think tank Bertelsmann Stiftung, ranks countries' performance using a set of 77 indicators.
<h2>Australia: good water, bad energy</h2>
Australia, with some of the world’s highest carbon emissions per person, rates poorly on the clean energy and climate change goals. It also falls down on the environmental goals, with high levels of solid waste and land clearing as well as loss of biodiversity.
Despite the long life expectancy and general good health of Australians, the index highlights that Australia has one of the highest rates of obesity in the world.
As shown in the performance chart below, Australia rates relatively highly on lack of poverty, education and water quality. Inequality, while increasing, is not as bad as it is in the United States or the United Kingdom.
<a href="/images/2016/07/27/image-20160721-8642-mbf3mp.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/27/image-20160721-8642-mbf3mp.png" alt="">
<h4>
Australia’s performance on each of the Sustainable Development Goals. <a class="source" href="https://issuu.com/unsdsn/docs/sdg_index_and_dashboards_country_pr">SDG Index and Dashboards report</a>
</h4>
The best-performing countries on the list are mainly the northern European countries. Sweden, Denmark and Norway are at the top of the pile. Yet even these nations have significant challenges to achieve the climate change and environmental goals.
<h4><a href="/images/2016/07/27/image-20160721-8650-1llss6.png" target="_blank">Click to enlarge</a></h4>
<img src="/images/2016/07/27/image-20160721-8650-1llss6.png" alt="">
<h4>
The top of the rankings… SDG Index and Dashboards report
</h4>
<div class="enlarge_hint"><a href="/images/2016/07/27/image-20160721-8663-2d6hcy.png" target="_blank"> Click to enlarge</a></div>
<div class="enlarge_hint"><img src="/images/2016/07/27/image-20160721-8663-2d6hcy.png" alt=""></div>
<h4>
…and the lowest-ranked nations. SDG Index and Dashboards report
</h4>
At the bottom of the rankings are sub-Saharan African countries: the Democratic Republic of Congo, Liberia and the Central African Republic, which face extreme poverty, hunger and major health problems.
In Asia, Japan and Singapore both rate above Australia, in 18th and 19th places respectively. Thailand (61st), Malaysia (63rd) and China (76th) are in the middle of the pack.
<h2>Priorities for action</h2>
The purpose of the report is to help countries identify the gaps that must be closed in order to achieve the Sustainable Development Goals by 2030 and to identify priorities for early action.
The SDG Index notes that Australia performs much better in the UN’s Human Development Index (on which it ranks second), which focuses on social and economic development but not environmental sustainability. This clearly demonstrates that Australia needs to act urgently to address the climate and environmental goals. It is in Australia’s interest to do so as we are more vulnerable to climate change than most comparable countries.
The report also highlights some other specific challenges for Australia, including fisheries management and sustainable use of nitrogen-based fertiliser. While Australia is not the worst performer on gender equality, many countries have a higher proportion of women in national parliaments than our 26.7 percent and we have a significantly larger gender wage gap than New Zealand.
The SDG Index will be updated regularly to improve its quality and coverage and allow people around the world to measure progress against the goals. Australia’s plan for implementing the SDGs within Australia is not yet clear and this will be an important item on the agenda for the re-elected Turnbull government.
John Thwaites is chair, Monash Sustainability Institute &amp; ClimateWorks Australia, Monash University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-thwaites-16830" target="_blank">here</a>.
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Australia ranks 20th on progress towards the Sustainable Development Goals

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Architects, sustainability experts and influential property executives are amongst those chosen as the judging panel for this year's retail-focused Living Building Challenge design competition.  
The judges will select a winner based on the entry that best responds to the question, ‘what does the world’s most sustainable retail centre look like?’  
Living Future Institute of Australia (LFIA)Vice-Chair Stephen Choi said the judges for The Brickworks Living Building Challenge design competition are well known and highly respected, not just in property circles but in different industries and in different capacities. 
"Each is a genuine thought leader and we appreciate their commitment,” Mr Choi said. 
"It is time for ‘best practice’ in retail centre development to mean much more than simply enabling natural airflow and daylight. 
“The shopping centre of the future is one that attracts even more foot traffic, is a place to be enjoyed, is aesthetically pleasing, functions beautifully, promotes positive health and wellbeing for visitors and employees, and has a net positive impact on its environment."
Over 40 registrations for the Brickworks Living Building Challenge design competition have been received since the competition was launched in Melbourne last month.
The Brickworks Living Building Challenge design competition is coordinated by the LFIA, the local arm of the Seattle-based International Living Future Institute. Frasers Property Australia is the Principal Partner for the design competition and the company’s Brickworks site in Melbourne is the subject retail centre for entrants to apply their progressive thinking to. 
The judging panel includes:
Caroline Pidcock - Director of architectural firm PIDCOCK – Architecture + Sustainability
<img src="/images/2016/04/27/carolone.jpg" alt="" width="572" height="449">
Kate Doyle – as CEO of the Architects Accreditation Council of Australia (AACA), Ms Doyle has worked extensively with the educators, curators and communicators that shape Australia’s architectural landscape. 
<img src="/images/2016/04/27/doyle.jpg" alt="" width="559" height="413">
John Romano – Mr Romano has clocked up an impressive 30 years with Telstra in a variety of senior positions and currently heads up Telstra’s Property division. 
<img src="/images/2016/04/27/John_Romano.jpg" alt="">
Daryl Browning – As CEO of ISPT, Mr Browning has accumulated more than 30 years’ experience in the property investment and management sector, including in financial services and funds management. 
<img src="/images/2016/04/27/daryl_browning.jpg" alt="">
Natalie Isaacs – Having founded 1 Million Women in 2009, Ms Isaacs has helped shape how women and girls fight climate change by changing the way they live, with the movement now around 400,000 women strong - and counting. 
 
Peri Macdonald – Currently the General Manager - Retail at Frasers Property Australia, Mr Macdonald has been involved in the acquisition, development and management of over $1 billion of new and redeveloped neighbourhood and sub-regional shopping centres across Australia. 
 <img src="/images/2016/04/27/Frasers_Property_PeriMacdonald_05-2.jpg" alt="" width="664" height="531">
Entries close on May 6.
For more information, <a href="https://living-future.org.au/the-brickworks-living-building-challenge-design-competition/" target="_blank">click here</a> or <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/52152-australia-aspires-to-global-green-leadership-the-living-building-challenge" target="_blank" style="line-height: 1.3em;">download our eBook</a>.
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