The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Western Sydney

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Plans for a major industrial precinct on the doorstep of the new Western Sydney Airport have been approved by the NSW Government, paving the way for a significant boost to jobs and investment in the region. 
Approval of the $2.6 billion Mamre Road Precinct, one of 12 key precincts in the Western Sydney Aerotropolis, will unlock 850 hectares of new industrial land and see the creation of new public spaces and conservation areas.  
Premier Gladys Berejiklian said the green light for the Precinct is a significant step forward in securing Western Sydney’s future as a global hub for logistics and advanced manufacturing. 
“We’re getting on with the job of building a new city around the airport well before the first plane takes off,” Ms Berejikilian said.
“This land release will provide opportunities for international and domestic businesses to invest in Western Sydney, enabling major warehousing, logistics, manufacturing and circular economy operations to be established.
“It will also bring a huge jobs boost to the region, creating opportunities for more than 5,200 jobs during the construction phase alone.”
Planning and Public Spaces Minister Rob Stokes said the Mamre Road Precinct will also include 50 hectares of open space, including new cycling and walking paths that will open up previously inaccessible land to the public. A further 70 hectares of conservation land, including the Cumberland Plain Woodland, will also be protected within the Precinct. 
“Not only does this rezoning secure much-needed productive industrial land, it also safeguards critical environmental areas and provides some fantastic new public spaces for the future residents of the Western Parkland City,” Mr Stokes said. 
Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said the rezoning is another milestone in the transformation of the Western Parkland City into a thriving hub, with new jobs, homes, infrastructure and open spaces.  
“We already have interested businesses from the transport and logistics, pharmaceutical and data storage industries ready to move into the precinct and capitalise on its future connections to local, regional and overseas markets,” Mr Ayres said.
The first industrial estates for the Mamre Road Precinct are expected to be occupied from mid-2021. 
The Mamre Road Precinct was one of 24 projects included in Tranche 2 of the NSW Government’s Planning System Acceleration Program that is fast-tracking planning assessments to keep people in jobs and the economy moving during the COVID-19 crisis. To date, the program has created opportunities for more than 16,400 direct  jobs and almost $11 billion worth of economic investment across NSW.
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$2.6 million Mamre Road Precinct to boost jobs in Western Sydney

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The NSW Government has announced that the new $80 million Western Sydney Construction Hub will be located at the existing Kingswood TAFE NSW campus.
Minister for Skills and Tertiary Education Geoff Lee revealed the location with Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres during a visit to the Western Sydney campus.
“The Western Sydney Construction Hub will be located on the existing TAFE NSW campus in Kingswood. It will deliver specialised training for 700 new students each year in key trade areas such as carpentry, electrical, construction and plumbing,” Mr Lee said.
“As a dedicated Centre of Excellence for construction trades, the new facility will significantly enhance education and training in the region and showcase the best of what TAFE NSW has to offer in delivering world-class, practical training linked to jobs.
“We know our State needs a strong pipeline of skilled workers to meet the demand of our infrastructure boom, and that’s why we’re significantly investing in TAFE NSW.”
Mr Ayres said the new Western Sydney Construction Hub will equip students with job- ready skills at a time when the area is experiencing an unprecedented spend in infrastructure projects.
“With its world-class facilities, expert teachers and on-site industry engagement, the Western Sydney Construction Hub will help to deliver the skilled workers needed for major construction projects such as the Western Sydney Airport and Aerotropolis, and the Sydney Metro Western Sydney Airport,” he said.
The centre will be located on vacant land and is in close proximity to public transport, employers and other community amenities.
It is scheduled to be completed in 2023.
 
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Western Sydney Construction Hub to be built in Kingswood

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If the queues at Bunnings are anything to go by, home renovation seems to be on the rise in western Sydney, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
"Niggling jobs that have been put on the backburner are now being addressed, be it patching a hole in the wall, reconfiguring the rear garden or even a second storey extension," the valuation firm said. 
Western Sydney is a diverse area for real estate and this allows residents a larger choice in property.
 Families who have outgrown their existing property have a number of options such as upgrading to a new property in the growth areas or buy an existing dwelling and renovate, the report noted. 
The north-west and south-west growth precincts have seen substantial development of new dwellings on smaller allotments over the past five years, with many buyers upgrading to these ready- made new products rather than undergoing an extensive renovation on their current dwelling.
"Given the lower price points in western Sydney compared to eastern Sydney, it is vital to analyse the current renovated sales to ensure you are not overcapitalising.
"This is particularly important for investors as it is dead money that could have been used elsewhere.Owner-occupiers may not be as concerned as over time these costs will be absorbed as the market improves," the valuation firm said. 
For years, investors have been actively buying older run down properties in western Sydney and updating the dwellings to not only add value but increase rental return.
The addition of a well-placed granny flat in the rear yard further increases the yield for the investor.
An example where this has worked is at <a href="https://www.realestate.com.au/sold/property-house-nsw-whalan-132604618" target="_blank">12 Aitape Crescent, Whalan</a> (pictured below) in the Blacktown LGA.
This three-bedroom, one- bathroom dwelling sold for $366,000 in February 2019 and after undergoing a full renovation, sold for $520,000 in February 2020 through Raine &amp; Horne Penrith.
<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/2020/6/10/whalan%20before.jpg" alt="">
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"Regarding the cost to renovate, it seems that engaging a skilled tradesperson to complete some work is not a cheap exercise.
"One has only to look at the number of shiny, dual cab utes on development sites to see that skilled tradespeople are in hot demand, mostly thanks to the amount of infrastructure and construction within the Sydney metropolitan area," the valuation firm said. 
In Prestons, the difference between a renovated and unrenovated entry level home is demonstrated by the results of two sales this year.
<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/2020/6/10/prestons%201.jpg" alt="">
<a href="https://www.realestate.com.au/sold/property-house-nsw-prestons-132770486" target="_blank">18 Cedar Road</a> (pictured above), an unrenovated property, sold for $676,000 in January, while <a href="https://www.realestate.com.au/property-house-nsw-prestons-133243622" target="_blank">32 Grevillea Crescent</a> (pictured below), with a basic internal renovation, mainly to the kitchen and bathroom, sold for $740,000 at the end of March.
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Whilst not a large uplift, it would easily cover the cost of completing the renovation works, the report noted. 
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Western Sydney home renovation on the rise: HTW residential 

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Western Sydney is set for a further construction boom, with two more projects getting the green light today through the NSW Government’s Planning System Acceleration Program. 
Planning approval has been given to a new recycling facility in Penrith and a major upgrade to a brick production facility in Horsley Park that, combined, will inject an additional $27.8 million into the economy and support more than 130 local jobs. 
Premier Gladys Berejiklian said Western Sydney has been a big winner in the first tranche of projects that have had their assessments fast-tracked to create jobs and investment in response to COVID-19.  
“Western Sydney is undergoing significant growth, which is why we’ve fast-tracked the assessment of projects in the region over the past three weeks to create opportunities for more than 16,000 local jobs and $1.8 billion in investment,” Ms Berejiklian said.
“The housing and construction industries will be vital to supporting our State’s economy through the pandemic and so we’re doing what we can to keep the industry moving.” 
The latest projects approved in Western Sydney include:
<ul>
<li>A $26 million upgrade to the 1960’s Austral Bricks facility at Horsley Park. The state-of-the-art facility will be one of the most technologically advanced of its kind in the world and produce enough bricks to build five homes every hour. The facility’s upgrade will support 60 construction jobs and 35 ongoing operational roles.</li>
<li>A new $1.8 million recycling and transfer facility in Penrith, operated by NSW Waste Recycling, that will support a significant increase to waste recycling in Western Sydney. The project will support 25 construction jobs and 12 operational roles once complete.</li>
</ul>
Planning and Public Spaces Minister Rob Stokes said the Planning System Acceleration Program was a vital lever in the State’s economic recovery. 
“We have re-prioritised projects in the State’s planning system so projects are assessed more quickly to keep people in jobs and the NSW economy moving during the COVID-19 pandemic,” Mr Stokes said. 
“We’ll have another tranche of shovel-ready projects ready to announce shortly, which will also have their assessments finalised within four weeks.” 
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<td valign="top" width="340">
Project
</td>
<td valign="top" width="146">
Investment value
</td>
<td valign="top" width="79">
Jobs
</td>
</tr>
<tr>
<td valign="top" width="340">
Austral Bricks facility upgrade
</td>
<td valign="top" width="146">
$26 million
</td>
<td valign="top" width="79">
95
</td>
</tr>
<tr>
<td valign="top" width="340">
Penrith Resource Recovery Facility
</td>
<td valign="top" width="146">
$1.8 million
</td>
<td valign="top" width="79">
37
</td>
</tr>
<tr>
<td valign="top" width="340">
Bunnings Warehouse at Bringelly Business Park
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<td valign="top" width="146">
$22 million
</td>
<td valign="top" width="79">
400
</td>
</tr>
<tr>
<td valign="top" width="340">
Mt Druitt CBD rezoning
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<td valign="top" width="146">
$1.49 billion
</td>
<td valign="top" width="79">
15,000
</td>
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<tr>
<td valign="top" width="340">
Rezoning land at Glenlee to create a 60 hectare jobs hub
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<td valign="top" width="146">
$94.2 million
</td>
<td valign="top" width="79">
188
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<tr>
<td valign="top" width="340">
Rezoning the Bankstown CBD to allow more retail, residential and public space
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$166 million
</td>
<td valign="top" width="79">
332
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TOTAL
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$1.81 billion
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16,052
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To be considered for accelerated assessment, a project must already be progressed in the planning system, deliver a public benefit, demonstrate an ability to create jobs during construction and once complete, and be able to commence construction or lodge a development application within six months. 
Western Sydney projects approved in Tranche 1 of the Planning System Acceleration Program include:
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Construction boom fast-tracked for Western Sydney 

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Traditional drivers of the western Sydney property market include interest rates, the availability of credit, affordability, employment and infrastructure spending, according to the latest Herron Todd White (HTW) residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.
The report notes that first home buyer market has seen a bounce back in recent months with many local agents noting an increase in buyer activity. This can be attributed to continued low interest rates and some confidence returning to the market after a period of decline.
"St Clair is a suburb within the Penrith LGA and is well positioned within the first home buyer’s price range," the valuation firm said. 
With a $662,000 current median dwelling price (source: CoreLogic), this suburb offers buyers detached brick dwellings on slightly larger parcels of land compared to their more easterly neighbouring subdivisions.
A St Clair dwelling at <a href="https://www.realestate.com.au/sold/property-house-nsw-st+clair-132656006" target="_blank">8 Ontario Avenue</a> (pictured above) recently sold for $642,000 and comprised four bedrooms, one bathroom and a single garage on 568 square metres of land.
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"Upgraders rely on the strength of the first home buyer and entry level market to allow them to secure the right price in order to upgrade," the valuation firm said.
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Traditional areas for upgraders have been new estates with low maintenance blocks such as in Box Hill in the north-west and Leppington in the south- west. 
These new estates allow local upgraders the opportunity to buy a larger modern house with quality inclusions, the report noted. 
A recent sale at Box Hill achieved a price of $1.01 million.
The four-bedroom, two- bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-box+hill-132775106" target="_blank">47 Longerenong Avenue </a>(pictured above) on a low maintenance 375 square metre block.
Note regarding COVID-19
<div>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</div>
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<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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Western Sydney first home buyer market sees a bounce back: HTW residential 

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A development site in Sydney's west has sold for more than $36 million on behalf of a Revelop property group, in partnership with Mintus Pty Ltd. 
The sale has paved way for a 30,000 square metre apartment project at the Pemulwuy site, including 300 units across eight buildings, ranging from three to five storeys.
CBRE Western Sydney's Alex Mirzaian negotiated the sale of the Butu Wargon Drive property to a local western Sydney developer on behalf of Revelop and Mintus.
Mr Mirzaian noted that, even in these uncertain times, sites with development approvals in under supplied areas would continue to transact, fuelled by the expectation of further construction industry stimulus from the NSW Government.
“Some local western Sydney buyers are looking to keep building with the view that the market will recover in the next 12 months as housing supply dries up,” Mr Mirzaian said.
The project will be the Pemulwuy area's only new multi-unit housing development in the past decade. 
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Pemulway development site sold for $36 million

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EXPERT OBSERVER
Observed impacts of climate change on housing markets may once have been confined to areas known for extreme weather. But as Australian summers get hotter and longer, the challenges of climate change are manifesting in the property market in previously unexpected and specific ways.
Rising temperatures are proving a disruptive force to town planning, creating affordability pressures and increasing insurance costs.
Western Sydney is undergoing unprecedented development and transformation, reflecting the vast size and population growth of the region.
However, Western Sydney is also getting hotter.
Data from the Australian Bureau of Meteorology shows the mean of maximum daily temperatures each month is rising.
Climate projections reported by the Australia institute projected that by 2030, Penrith could see 22 days of the year where temperatures surpass 35 ̊C. Meanwhile, the eastern suburbs of Sydney are expected to remain relatively cool, with just 7 of these days projected in Coogee.
Reducing thermal discomfort is an increasing focus for urban planners. Water technologies, tree canopy and the use of cool materials are demonstrably effective.
But some of these heat management methods don't mix well with the development in Western Sydney.
The construction of the Western Sydney airport for example, will require some level of mitigation for bird and bat strike, including limiting the amount of trees within a certain radius of the airport.
These complexities increase the challenge that rising temperatures place on the ambitious developments for Western Sydney.
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ELIZA OWEN is the Head of Australian Research at CoreLogic
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Cooling Western Sydney has become a major planning focus: Eliza Owen

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When commenting on property price drivers such as infrastructure, the largest of the lot is the Badgerys Creek Airport and surrounding development, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their values to give an educated outlook on the residential market in their service areas.
"This area will be transformed from cow paddocks and market gardens into a bustling metropolis aptly named the Aerotropolis," the valuation firm said. 
The report suggests one market to keep an eye on is the new unit market in the Parramatta local government area. 
A significant amount of new units are expected to be completed in the first half of 2020 and this will continue with up to 21,100 dwellings forecast to be constructed by 2023, most of these being residential units. 
"What we do know is that there is a large difference between forecast numbers and actual construction numbers as developers may hold off on construction to ride out lulls in the market, so we will wait and see how things unfold," the valuation firm stated. 
Traditionally, a large number of completions leads to more stock entering the resale market. 
Given the negative market sentiment surrounding new units over the past year, vendors must be prepared to meet the market in order to facilitate a sale.
<a href="https://www.propertyobserver.com.au/images/2020/2/10/western%20syd.jpg" target="_blank">Click here</a> to enlarge: 
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Source: HTW
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Western Sydney has seen a boom in granny flat construction over the past decade, with property owners taking advantage of larger allotments to build granny flats to add value and create a second income. 
"With interest rates at historic lows and the potential for five percent plus returns, we believe granny flat construction will continue to be a popular choice for investors throughout 2020," the valuation firm said. 
A recent example is <a href="https://www.realestate.com.au/sold/property-house-nsw-blacktown-132604830" target="_blank">24 Duckmallois Avenue, Blacktown</a> (pictured below), an older three-bedroom dwelling with a new two-bedroom granny flat at the rear, which sold for $757,000 in December, returning $800 per week in rent. This equates to a gross yield of approximately 5.5 percent.
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"The high growth seen in the last quarter of 2019 is unlikely to continue throughout 2020. Affordability will be a key issue.
"As household incomes are still under significant pressure, buyers will need to look to the outer suburbs in order to find affordable property. This will benefit the western suburbs of Sydney where there is still property at an affordable price point, relatively speaking," the valuation firm stated. 
Investors will be prevalent throughout 2020 with yield a big driver.
Prudent purchasers should keep an eye out for any infrastructure being built and get in before prices shift again.
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Western Sydney granny flat construction boom expected to continue in 2020: HTW residential 

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Private investment opportunities will abound as Sydney’s new aerotropolis development takes off, but those who want a slice of the action would be wise to start investigating options now.
The Western City &amp; Aerotropolis Authority aims to create 200,000 new jobs across the Western Parkland City, with a particular focus on advanced manufacturing and agribusiness, as well as in education, housing, healthcare and pharmaceuticals.
Central to the development is the creation of a modern, digitised supply chain, which in itself won’t create many jobs, but will provide a vital support network to leverage the opportunities of an airport that operates 24/7.
Early mover investors
The authority is aiming to have the agribusiness and manufacturing precincts up and running by the time the airport opens in December 2026.
Several businesses in those sectors have committed to build facilities in the area, including advanced 3D-printing company GE Additive, Australian vitamin and pharmaceutical maker Vitex, along with the Australian Space Agency and 18 SMEs in aerospace.
Additionally, aerospace company Northrop Grumman has committed to an AUD 50 million investment in an advanced defence electronics maintenance and sustainment centre. Japanese multinationals Mitsubishi Heavy Industries and the Sumitomo Mitsui Financial Group have also agreed to invest in the aerotropolis. The state’s largest wholesale produce market, Sydney Markets, has signed an agreement to expand into the aerotropolis.
And to help supply the skilled workforce needed for many of these businesses and others in the region, the University of Newcastle, University of NSW, University of Wollongong, and Western Sydney University plan to join forces to create a world-class, higher education institution at the aerotropolis.
State and federal governments have committed AUD 20 billion to build Western Sydney’s new airport and all the associated transport infrastructure, yet the NSW government estimates that to build out all of the development required in Western Sydney – the airport and aerotropolis, the transport infrastructure, housing, schools, hospitals and so on – will cost more than AUD 100 billion.
Where opportunities await
The remaining AUD 80 billion will come from the private sector and this presents a huge opportunity for investors, in property, in business, in infrastructure – and even as potential owners of the airport should the government eventually privatise it, says Roddy Adams, Head of Energy, Infrastructure &amp; Resources NSW at Westpac.
Accommodating population growth
A huge amount of investment will be required to house the population of the rapidly growing Western Parkland City, as the government has tagged the region.
In a Westpac-commissioned report titled Western Sydney Infrastructure Projects and Investment Opportunities, The Root Partnership has identified what will need to be built in the two decades to 2036 to accommodate the rapid growth:
Roddy Adams, Head of Energy, Infrastructure &amp; Resources NSW at Westpac, notes that the airport has been structured as a stand-alone corporation, Western Sydney Airport. While nothing has been confirmed, Adams believes the government may put the airport up for sale once it is operating, providing another opportunity for investors in the region.
“It would make sense for them to recycle their money once the airport's up and running because that's how it was with every other airport in Australia,” he says.
Additionally, while the federal government has committed AUD 5.3 billion to the airport, Adams says most observers believe that to bring it up to the standards of an international class airport total investment will be more like AUD 10 billion, suggesting the government will have to raise additional cash, or sell off the airport in stages to fund its continued development.
He expects the airport to attract interest from the superannuation sector, which is drawn to the stable, long-term cashflow that comes with many major infrastructure investments.
It won’t just be multibillion-dollar, headline-grabbing projects which create opportunities for investors. Adams says the knock-on effects for the whole region will be quite profound.
There are also investment opportunities in the aerotropolis itself, which will host industry and manufacturing, and logistics centres designed to take advantage of the new airport – and it will be home to new communities, parklands, cultural and sporting centres, shopping centres, schools, childcare centres, universities, aged care facilities, healthcare and hospitals.
Investors have the capacity to put money into the aerotropolis both by establishing businesses in the precinct and by funding its development, plus they will have the chance to either buy land or acquire long-term leases as well.
Obvious candidates to set up in the aerotropolis include logistics and supply chain businesses and those involved in agribusiness. “You don't have to think too hard down that line to come up with a whole range of people, both from an industrial or other institutional equity perspective, who’ll be keen to look into this,” says Adams.
Westpac will be involved in facilitating the region’s growth both as a member of the community which has had branches in the region since the early 1900s and as a facilitator of opportunities for corporate and institutional clients.
Adams says, "we want to help the aerotropolis drive as much value into the business supply chains locally as we can as well."
“This is one of the biggest growth opportunities that the bank currently has on its radar,” he concluded
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Investor opportunities abound in Western Sydney Aerotropolis: Westpac

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The design for the relocated Powerhouse Museum has been selected with Moreau Kusunoki and Genton being the architects chosen to establish the first major museum to be based in Western Sydney.
The architectural vision for the museum has been selected following an international design competition which commenced in January 2019.
Minister for the Arts Don Harwin Geoff Lee said, to make the announcement. “the relocated Powerhouse Museum represents the largest investment in arts and culture infrastructure since the Sydney Opera House. Once this museum is built – there simply will not be another building like it in Australia – it will be a leading cultural institution in the South Pacific."
“The new Powerhouse will be a museum of applied arts and sciences that exemplifies how Sydney and Australia thinks about itself, its culture and our communities," 
The new museum will attract leading researchers, scientists and creatives from across Australia and around the world, while also providing ongoing opportunities for students from across NSW.
Moreau Kusunoki and Genton said, “We envisage the new Powerhouse Museum as a hyper-platform, a building with many functions and limitless potential."
"The building will tread lightly on the site, with the architecture opening up towards the river, providing generous public space and creating an open 24-hour precinct.”
The international architectural competition saw more than 74 entries received from 20 countries.
The SMH reports the Powerhouse Museum will need to raise $75 million from private philanthropists and corporations to meet the multi-million dollar cost of its new home.
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