Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Vicinity Centres

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Today Apartments.com.au speaks to Erwin Taal, Senior Associate at ASPECT Studios about the office's work on Golden Age Group's Sky Garden development above The Glen Shopping Centre. Taal says the project provided a very challenging brief for a broad scale landscape that is not evident at first glance.

<blockquote>
A creative solution was required to provide the immersive landscape experience desired within the structural constraints of building over a retail precinct. 

This was achieved through the terracing of the landscape through using several lightweight shallow landscape trays creates an implied depth to the landscape that would otherwise not be possible. 

This depth is enhanced through the careful arrangement of plant heights to enhance this effect.
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/water_feature.jpg" rel="gallery-all" title="A water feature draws on the Chinese philosophy of the five essential elements. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="290" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/water_feature.jpg?itok=FiytHw7N" title="A water feature draws on the Chinese philosophy of the five essential elements. Image: Supplied" width="580"></a>

<figcaption>A water feature draws on the Chinese philosophy of the five essential elements. Image: Supplied</figcaption></figure>Apartments.com.au: What was the brief from Golden Age for the landscaped spaces within Sky Garden? 

Erwin Taal: Golden Age and Time &amp; Place had a vision and dedication to provide a generous, shared residential green podium that would provide a range of outdoor spaces, appropriate for the varying needs of residents, including:

<ul>
<li>implementing a range of age-appropriate spaces,</li>
	<li>spaces with varying intimacy and openness,</li>
	<li>providing a mix of shelter and exposure,</li>
	<li>passive enjoyment through to active recreation.</li>
</ul>
The brief also called for the establishment of a green landscape with a range of planting approaches that would create an engaging immersive environment for the residents, within the limitations of the building structure. This desire for immersion within the landscape was amplified through the refined “Sky Garden” approach that was requested by Golden Age.

U: Did the design concepts of the five elements inform a set of guidelines which assisted in the collaboration between ASPECT, Rothelowman and DKO Architecture? 

ET: ASPECT Studios are one of the forerunners with extensive experience and knowledge of green roof design. We worked closely with Rothelowman &amp; DKO to ensure a seamless interface between the landscape and architecture. From the outset, we proposed that the residential podium take on a sympathetic design approach towards the concept for The Square and Level 1 Retail to ensure a considered and consistent design concept between all facets. This was in keeping with the geometries pursued within the Rothelowman design of the residential towers. Our concept successfully reflected the seamless integration between internal and external as well as the architectural exploration of the five elements to effectively create one consolidated residential offer.

U: What influence did the architecture of the three apartment buildings have on the design of the landscaped spaces? 

ET: We considered the broader site arrangement and massing of the three residential buildings and retail forms in our conception of the external landscape. The elongated forms that were rounded off (referenced to as the “Aalto curve”) were used as a driver to articulate the arrangement of a series of outdoor landscape rooms within the linear external landscape that wrapped along the base of the three towers. Further detail within these outdoor rooms was drawn from the manipulation of the residential tower forms including:

<ul>
<li>Faceting (as a way of rounding off corners using a controlled radius)</li>
	<li>Pinching (the drawing in of elements of the façade to provide variation in form and rhythm)</li>
	<li>The terrace (as a way of progressively stepping down building heights)</li>
</ul>
The linear landscaped forms were subsequently modified to become more curvilinear and less linear in nature, again as a reference to a more intimate Sky Garden approach, whilst retaining the overall arrangement of the outdoor rooms.

U: What were some of the challenges for designing multi-generational spaces without over cluttering the spaces or diluting the design intent? 

ET: The linear arrangement of outdoor rooms along the base of the towers and multiple points of entry surprisingly assisted in dispersing various programmed spaces along the podium. We divided the programming of the outdoor rooms into active through to passive use, and formal through to informal settings to determine the range of activities to occur within each room. Some of the outdoor rooms naturally lent themselves to a younger or older generational focus, but we felt it important that the interaction between all users was a desirable element, much as a typical urban environment. By off-setting the connective circulation from the activity of the spaces, a higher intensity of activation was therefore possible without disrupting access to other outdoor rooms within the arrangement.

<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/sky_garden_spaces.jpg" rel="gallery-all" title="A variety of formal, informal, active and passive spaces have been designed as part of the landscape strategy. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="340" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/sky_garden_spaces.jpg?itok=yBVmYbsW" title="A variety of formal, informal, active and passive spaces have been designed as part of the landscape strategy. Image: Supplied" width="580"></a>

<figcaption>A variety of formal, informal, active and passive spaces have been designed as part of the landscape strategy. Image: Supplied</figcaption></figure>U: Sky Garden sits above the Glen Shopping Centre which is undergoing a staged redevelopment adding green spaces within the centre environment. How do you see the roles of shopping centres changing in the future and bringing more of nature in? 

ET: As our multi-residential and ‘mixed-use’ residential markets continue to grow, developers are taking further influence from our overseas counterparts in introducing shopping centre residential typologies which offers the fusion of lifestyle, residence and nature. As expressed within The Glen redevelopment encompasses:

<ul>
<li>Our inhabitation within an increasingly dense urban environment,</li>
	<li>the blurring of the traditional separation between home and lifestyle, and</li>
	<li>the desire for more meaningful connection to nature within our lifestyled environments.</li>
</ul>
Shopping Centres are rapidly evolving to capture, and even drive, this fusion through diversifying their offer beyond that of traditional retail. Incorporating nature through the creation of extensive internal and external landscaped environments provides breathing spaces within these intensified environments and actively encourages prolonged occupation. Whilst not a re-creation of real nature, the use of green roofs and podiums are a controlled representation of it which has been tailored to suit our changing social and urban fabric and can offer many of the environmental, microclimatic and biological benefits.
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Laurence Dragomir

ASPECT Studios' Erwin Taal discusses Sky Garden's landscape design

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Vicinity Centres has announced a progress update asset divestment program, with the sale of a portfolio of 10 sub regional and neighbourhood shopping centres to SCA Property Group.
They also sold one Neighbourhood shopping centre to a private investor, for an aggregate sale price of $631.0 million.
The aggregate sale price of $631.0 million reflects a 5.1% discount to the combined 30 June 2018 book values of the eleven assets and a weighted average capitalisation rate of 6.9%.
Vicinity has now divested 35 shopping centres for more than $2.5 billion at a 0.5% premium to book value.
Discussions are noted to be underway with prospective purchasers of three remaining assets included in Vicinity’s divestment program.
Mr Grant Kelley, Vicinity’s CEO and Managing Director, said “These transactions are a significant achievement and advance our strategy to unlock major potential in the business.”
“It is an important step in delivering strong and sustainable growth through focusing our directly-owned portfolio on approximately fifty market-leading destination assets, expanding our wholesale funds platform and realising mixed-use opportunities across the portfolio.”
SCP will acquire ten assets for a total consideration of $573.0 million. Settlement of these transactions is expected later this month.
<img src="https://www.urban.com.au/images/2018/10/3/Vicinity%20centres.JPG" alt="">
The sale of Belmont Village (pictured above) in Victoria to a private investor for $58.0 million was settled at the end of September .
As at 30 June 2018, the eleven assets sold had specialty sales per square metre averaging $7,611. 
Vicinity’s FFO guidance for FY19 remains unchanged at 18.0 to 18.2 cents per security.
Assuming the sale proceeds of the eleven non-core assets are used to repay debt in the short-term, gearing would be reduced by approximately 280 basis points.
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j.ballantyne1990-6AQqhLzZaK

Vicinity sells eleven shopping centres for $631 million

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Vicinity Centres have sold Gympie's Goldfields Plaza for $27.5 million.
The move comes after Vicinity Centres announced it was to sell $1 billion worth of shopping centres to refurbish their higher assets. 
It's been bought by Lascorp Development Group, who have outlined plans for a major overhaul of the neighbourhood centre.
The sale reflected a 1.1 percent premium to Book Value, in a transaction brokered by Savills agents Peter and Jon Tyson.
Goldfields Plaza comprises an enclosed neighbourhood shopping mall anchored by a Coles supermarket and Target department store.
Peter Tyson, Savills’ national retail director, said that the neighbourhood shopping centre asset class remains very popular with investors.
“The sale campaign for Goldfields Plaza attracted strong buyer interest, with multiple offers from investors as well as developers given the asset’s value-add profile. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/20/GOLD2.jpg" alt="">
“Goldfields Plaza features the only Coles and Target offerings in an expansive trade area with the nearest alternatives located at Noosa to the south and Maryborough to the north,” he said.
Run by veteran Melbourne retail developers Michael and Matt Lasky, Lascorp has over 40 years history developing and refurbishing shopping centres on Australia’s eastern seaboard.
Michael Lasky said that they were attracted to the Centre due to it having the right fundamentals.
“We like Goldfields Plaza. It is centrally situated next to the town’s centre, has great parking and is underpinned by a very strongly trading Coles supermarket.
“We feel we can apply our expertise and add value to the centre through repositioning the mall and specialties” he said.
Matt Lasky said that the Centre has great bones, and will benefit from our planned refurbishment as it hasn’t had an upgrade in many years.
“Our plans include refreshing the façade, extensive upgrades to the mall areas and amenities and implementing a releasing program,” he said.
Savills’ Peter Capps has been appointed to lease the repositioned centre on behalf of Lascorp.
Capps said that the refurbishment program will completely refresh the look and feel of the mall with improved traffic flow and opening of the sightlines between Coles and Target.
“We will be targeting key food and service lines, rather than discretionary spending. It is easy to see that following the refurbishment, Goldfields Plaza will be the most convenient food and service offer in the local market,” he said. 
Lascorp’s purchase of the Gympie mall follows the groups’ sale of the refurbished Morningside Plaza Shopping Centre in Brisbane earlier this year for $23.8 million through an off market transaction also brokered by Savills’ Peter Tyson.
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jrobinson-rf4aSBido9

Vicinity Centres sells Gympie's Goldfields Plaza

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Vicinity Centres and Gandel Group, owners of Chadstone Shopping Centre, have appointed <a href="/builders/hickory">Hickory</a> as head contractor for the hotel development which will join the 10-storey office tower completed as part of the last round of construction works.

Located at <a href="/developments/chadstone-vic-3148">1341 Dandenong Road</a>, the hotel forms a key anchor of the Chadstone master plan with AccorHotels managing the 250-room hotel under its MGallery by Sofitel brand, adding a further dimension to the shopping, dining and entertainment centre.

The hotel is being built to capitalise on the 23 million visitors that visit Chadstone each year, including an estimated 350,000 international tourists.

Designed by <a href="/architects/bates-smart">Bates Smart</a>, the 12-storey hotel will become the first to target a 5 -tar Green Star rating using the new generation Green Star – Design/As Built v1.1 rating tool.

The hotel will also feature health and wellness facilities, including a day spa, gymnasium and rooftop infinity swimming pool, plus two restaurants, lounge bar, and a ballroom capable of hosting functions for up to 400 people.

Demand for the hotel will be driven by business travellers, tourists and visitors to both Chadstone and the commercial offices of the 17 international and national businesses located on-site, as well as the nearby Monash precinct employment hub which employs 75,000 people.

<iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/1xWAKxStfO0" width="560"></iframe>

As part of the build, Hickory is targeting a compressed construction timeline, which will be achieved via the implementation of Hickory's patented building technology HBS. Hickory will incorporate large prefabricated elements such as stairs and walls within the build.

Additionally Hickory are employing a dust management plan to control, monitor and identify all dust-generating activities during all stages of the construction to aid in minimising disruption to customers or impacting the surrounding Chadstone community.

Construction and management of the hotel will create more than 1,300 new jobs, including 1,250 jobs in construction and 120 ongoing roles in the operation of the hotel, boosting employment in the Monash area.

Heavy noise excavation works have already been completed on the site with the main hotel construction to begin next week. Hickory is targeting a 14 month construction schedule with the hotel due to open in the second half of 2019. 

Further works underway or about to commence at Chadstone Shopping Centre include:

<ul>
<li>The revamp of the East Mall which will see a new Victoria’s Secret flagship store opening in late 2018. </li>
	<li>The expansion of the Coles Car Park which will see the reconfiguration of two access points to ease traffic congestion, as well as a new pedestrian walkway.</li>
	<li>A new look Food Atrium which is currently being renovated on the Lower Ground.</li>
	<li>A new Visitor Lounge for visitors to enjoy which will provide spaces for VIP events, champagne on arrival for special groups and roving multilingual team members to answer questions.</li>
</ul>
<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/east_mall.png" rel="gallery-all" title="A snapshot of some of the upcoming or underway developments at Chadstone. Images: https://www.chadstone.com.au/development"><img alt="" class="image-article-full-width-580px" height="201" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/east_mall.png?itok=aY-N65JQ" title="A snapshot of some of the upcoming or underway developments at Chadstone. Images: https://www.chadstone.com.au/development" width="580"></a>

<figcaption>A snapshot of some of the upcoming or underway developments at Chadstone. Images: https://www.chadstone.com.au/development</figcaption></figure>Both Federal and State Government's are also investing in stronger public transport links to the centre with options for both light and heavy rail being floated in respective budget announcements.
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Hickory appointed to build Chadstone's MGallery by Sofitel hotel 

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Golden Age Group has recently launched the website for its Sky Garden Residences, to be developed above airspace as part of The Glen redevelopment project. City of Monash initially approved plans for the $500 million redevelopment of The Glen shopping centre in Glen Waverley in 2015.

Key features of The Glen redevelopment include:

<ul>
<li>an expansion of the retail centre across the existing car park in Springvale Road, Glen Waverley</li>
	<li>three apartment towers above the retail podium, with the highest being 20-storeys</li>
	<li>a new public square at the entrance to the shopping centre, with cafes and restaurants creating a cosmopolitan connection between Kingsway and The Glen.</li>
</ul>
In November 2016, Council approved an amended permit for the residential towers at 235 Springvale Rd, Glen Waverley which was once again amended and approved in January 2018. 

Key aspects of the proposed amendments relate to modification of the overall massing, layout and mix of residential apartments of Building A, (Signature Building), B (Urban Building) and Building C (Kingsway Axial Building). 

Each building will increase in overall height by 1m and will adopt a new facade treatment to what was originally approved.

The revised plans prepared by RotheLowman include an additional 89 car spaces and the provision of 555 apartments across the three towers comprising of: 

<ul>
<li>127 x 1 bedroom apartments; </li>
	<li>371 x 2 bedroom apartments; and </li>
	<li>57 x 3 bedroom apartments. </li>
</ul>
<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/the_glen_skygardens.jpg" rel="gallery-all" title="Sky Gardens as the name suggests has 4,000 sqm of communal open space. Image : skygardenresidences.com.au"><img alt="" class="image-article-full-width-580px" height="221" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/the_glen_skygardens.jpg?itok=bGaRtxSZ" title="Sky Gardens as the name suggests has 4,000 sqm of communal open space. Image : skygardenresidences.com.au" width="580"></a>

<figcaption>Sky Gardens as the name suggests has 4,000 sqm of communal open space. Image : skygardenresidences.com.au</figcaption></figure>A large part of the project's appeal according to Golden Age Group is the 4,000 sqm of open space across the three towers and the views on offer from within, which encompass the Dandenong Ranges and the Bay.

The new residences will also take advantage of their position within the newly revitalised shopping and entertainment precinct of The Glen Shopping Centre.

<ul></ul>
The first stage of the redevelopment of The Glen - the Fresh Food Market Hall - opened in September 2017 and is located on the lower ground level offering a wide choice and variety of fresh produce and specialty ingredients in one location.

The Fresh Food Market Hall features an ALDI, latest format Woolworths, Coles and 60 boutique food retailers and specialty stores.

Vicinity Centre's redevelopment of The Glen will occur across five stages spanning three years which will create a new 'town square' with dining over two levels, new mini-majors, a fresh food market hall and 240+ select stores on completion. The five stages of the redevelopment are summarised below.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_8048.jpg" rel="gallery-all" title="Probuild has advanced construction on The Glen "><img alt="" class="image-article-full-width-580px" height="377" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_8048.jpg?itok=o_dIE0Op" title="Probuild has advanced construction on The Glen " width="580"></a>

<figcaption>Probuild has advanced construction on The Glen</figcaption></figure>The Glen Stages :

<ul>
<li>Stage 1 - Now Open: Fresh Food Market Hall</li>
	<li>
	Stage 2 - Early 2018: New Food Gallery
	</li>
	<li>
	Stage 3 - Late 2018: Fashion &amp; Lifestyle
	</li>
	<li>
	Stage 4 - Late 2019: David Jones, Premium Fashion &amp; New Town Square
	</li>
	<li>
	Stage 5 - Early 2020: Mini Majors Precinct
	</li>
</ul>
<iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/l0Atr-Luux4" width="560"></iframe>
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Sky Garden residences launched as construction progresses on The Glen

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Shopping centre giant Vicinity Centres has begun the search for a new chief executive with Angus McNaughton to retire at the end of this year.
The surprise announcement comes just under two years since Mr McNaughton stepped back into the top role in controversial circumstances following the merger that formed formed Vicinity.
"Including my time with Novion and its predecessor, CFS Retail Property Trust Group, I have been involved with this business for nearly 10 years," Mr McNaughton said in a company statement on Thursday.
"It has been a privilege to be part of Vicinity's transformation and, together with the board and executive team, to establish Vicinity's strategic direction.
"Vicinity is in a strong position and I am very confident in the highly competent executive team that we have built and their ability to drive the future growth of our business."
In August 2015, Mr McNaughton replaced Steven Sewell, who led Federation Centres when it merged with the larger Novion.
​But Mr Sewell's management styled irked the new board, which moved to axe its chief executive just two months after the the 2015 merger was formalised.
Mr McNaughton, who had stepped aside when the merger took place, was recalled and has led the growth of the renamed Vicinity, now an $11 billion property trust, since then.
The New Zealander has bedded down the amalgamation that created the second largest listed landlord of Australia retail property.
Among the highlights of his renewed tenure, Mr McNaughton has overseen a $660 million expansion of Chadstone shopping centre, now Australia's largest mall.
The mall is co-owned by Financial Review Rich Lister John Gandel, who is also Vicinity's largest shareholder and will be influential in the selection of the its next chief executive.
Among the challenges for Vicinity's next leader will be the rapidly changing retail environment that is forcing landlords to rework their massive shopping centres to re-engage shoppers enticed by the ease of online retailers such as Amazon  
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Mall giant Vicinity's CEO to resign

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Two major projects within City of Monash will provide the municipality with a development boost over coming years.

Construction will begin this month on The Glen's $490 million development, with Vicinity Centres and co-owners Perron Group officially launching the project yesterday. Marking 50 years of operation, 'The New Glen' will encompass 78,000 square metres of gross lettable area and will include a variety of new retail and entertainment options.

As part of the development that will be completed by 2020, a new Town Square will also be built. Apartments.com.au highlighted the <a href="/news/the-glen-redevelopment-grows-further-with-more-apartments-approved">centre's revised plans</a> late last year, which also allowed for as many as 539 new apartments to be created onsite across 3 separate buildings - no word was given yesterday on their status.

<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/image9_12.jpg" rel="gallery-all" title="The Glen is in line for a major overhaul. Image: Vicinity Centres"><img alt="" class="image-article-full-width-580px" height="308" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image9_12.jpg?itok=E33fkQ9P" title="The Glen is in line for a major overhaul. Image: Vicinity Centres" width="580"></a>

<figcaption>The Glen is in line for a major overhaul. Image: Vicinity Centres</figcaption></figure><blockquote>
It is time that The Glen evolves to meet the changing needs of our customers. The New Glen will elevate the customer experience to create a boutique destination where food, fashion and people come together.

The centre’s architecture, featuring a dynamic ‘veil’ effect that unifies the entire project, is inspired by international trends, and the iconic Springvale Road façade is designed to engage the local community.
<cite>Angus McNaughton: CEO and Managing Director of Vicinity Centres</cite>
</blockquote>

<blockquote>
This development is all about delivering a boutique and well-crafted design, inspired by our discerning local community. While increasing in size, our objective is to ensure The New Glen remains intimate, accessible and convenient, with a casual sophistication. 
The new centre has been designed for easy access and navigation through a ‘race track’ configuration with several cross malls to improve sight lines.
<cite>Ross Robertson: Perron Group’s Chief Executive Officer</cite>
</blockquote>

The redevelopment will create an estimated 2,350 jobs, including 1,150 during construction and 1,200 permanent positions upon completion.

The New Glen will also act as a hub for the <a href="/news/could-glen-waverley-emerge-as-another-eastern-suburban-apartment-hub">hundreds of additional apartments</a> slated for Glen Waverley's Activity Centre.

<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/image214_0_0.jpg" rel="gallery-all" title="Artist's impression of the new Town Square. Planning image: NH Architecture"><img alt="" class="image-article-full-width-580px" height="218" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image214_0_0.jpg?itok=U5ZpeqmV" title="Artist's impression of the new Town Square. Planning image: NH Architecture" width="580"></a>

<figcaption>Artist's impression of the new Town Square. Planning image: NH Architecture</figcaption></figure>In Oakleigh, diversified property group Pellicano is preparing to move ahead with an apartment development which it has christened Alke.

Valued at $53 million, Alke will include 95 apartments across two buildings divided by a communal residents’ terrace, along with retail at ground level. Designed by SJB Architects, Alke is a far grander expression than Pellicano's first residential project - twelve solid brick apartments in Oakleigh Street - which was completed in the suburb over 46 years ago.

Alke has been positioned to capture the local first home buyer and downsizer market.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image10_9.jpg" rel="gallery-all" title="Alke will be Oakleigh's latest high density addition. Image: Pellican Group"><img alt="" class="image-article-full-width-580px" height="274" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image10_9.jpg?itok=M7uU6yjX" title="Alke will be Oakleigh's latest high density addition. Image: Pellican Group" width="580"></a>

<figcaption>Alke will be Oakleigh's latest high density addition. Image: Pellican Group</figcaption></figure><blockquote>
Pellicano focuses on three main drivers for every project - quality design, in-demand location, and quality residential and lifestyle amenity.

The site for Alke is located on Atherton Road within Oakleigh’s retail precinct, just two minutes from Eaton Mall. The suburb is significant for Pellicano. We are proud to be returning to an area with such a rich culture and established heritage.

We see this development catering to residents in all walks of life. First home buyers, young professional renters, and downsizers who want the convenience of apartment living while staying within their local community can take advantage of this opportunity.
<cite>Pellicano Managing Director, Nando Pellicano</cite>
</blockquote>

The building will join a growing list of apartment projects within Oakleigh, with construction set to commence in the second half of 2017.

<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/image11_13.jpg" rel="gallery-all" title="The very first of Pellicano's Melbourne projects. Image: Pellicano Group"><img alt="" class="image-article-full-width-580px" height="308" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image11_13.jpg?itok=FSMjn9KX" title="The very first of Pellicano's Melbourne projects. Image: Pellicano Group" width="580"></a>

<figcaption>The very first of Pellicano's Melbourne projects. Image: Pellicano Group</figcaption></figure>
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silvermb

Vicinity and Pellicano provide Monash with a development boost

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Vicinity Centres today reported a statutory net profit of $424.6 million for the six months ended 31 December 20151.
Underlying earnings were up 10.1% to $377.6 million with underlying earnings per security (EPS) up 9.3% to 9.5 cents, compared to the six months to 31 December 2014 on an aggregate basis.
"This reflects solid portfolio performance and the delivery of significant merger benefits," Angus McNaughton, CEO and managing director, said.
“We are pleased with the performance of the Group in the first six months post merger.
“Key operating metrics have improved across the board.
"Portfolio occupancy strengthened in the half by 30 basis points (bps) to 99.2%.
"We have seen comparable specialty store moving annual turnover (MAT) growth improve to 3.4% and specialty occupancy costs remain largely unchanged.
"Comparable net property income (NPI) growth6 of 3.7% is up from 2.5% at June 2015, supported by fixed rental increases, strong growth in ancillary income and flat expenses.
“The improvement in our sales performance is pleasing considering that two of our prime assets, Chadstone and Emporium Melbourne, are not in the comparable reporting basket.
"At Chadstone, which is in the midst of a significant development, same-store MAT growth for specialties was 5 per cent.
"At Emporium Melbourne, monthly same-store specialty sales growth has been averaging 18% compared to the previous year.
“We have enhanced the quality of our portfolio in the period with the acquisition of two high quality centres and the sale of five non-core assets.
“Following the completion of a comprehensive review of our portfolio, we reiterated our strategic focus to create value and drive sustainable growth from a quality portfolio of Australian assets across the retail spectrum.
"We also announced the Group’s through the cycle financial targets of a total return of greater than 9 per cent per annum and underlying earnings growth of greater than 3 per cent per annum.
“We have set clear investment criteria for benchmarking our existing assets and potential acquisitions.
"As a result, $750 million to $1 billion of asset disposal opportunities have been identified, with asset sale proceeds to be reinvested into value accretive development and acquisition opportunities over time."
Three current projects at Colonnades, Halls Head Central and Warriewood Square remain on track to open by June 2016. There are also a further two minor projects (DFO South Wharf and Rockingham) totalling $21 million, which are forecast to have a blended year one yield exceeding 12% and an IRR exceeding 19%, that will complete later in this calendar year.
Development plans are well advanced at Mandurah Forum, with the project expected to commence in mid-2016, while planning for major redevelopments at Roselands and Galleria remains on program. 
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