A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Joel Robinson

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

Joint Venture

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The insurance giant Australian Unity has partnered with venture capital firm Taronga Ventures to promote growth within the real estate sector through an innovation program called RealTechX.
Australian Unity joins core real estate partners Dexus, LendLease, ISPT and PGIM who will collaborate with emerging real estate technology companies in a bid to help Australia’s $182 billion real estate sector prepare for the next phase of industry evolution. 
RealTechX is a program aimed at emerging technology businesses in the real estate and wider built environment sector to achieve “rapid and sustained growth.”
It seeks to connect a network of business, education and government leaders across the real estate sector.
Mark Pratt, Australian Unity’s executive general manager of property, said collaboration and strong relationships were key to Australian Unity’s track record of delivering for investors through real estate investments.  
“We are pleased to be involved with RealTechX, not only to ensure Australian Unity is on the forefront of upcoming real estate technology, but to help mentor the next generation in the industry and provide new and innovative solutions in the property sector. 
“At Australian Unity, we see private capital as critical to funding social infrastructure and other assets that deliver the services our communities need while providing investors with consistent returns.
“Over the last 20 years, Australian Unity's property team has created opportunities for both large institutions and retail investors to access the development of vital social infrastructure services as part of a diversified property investment portfolio,” Pratt said.  
Jonathan Hannam, managing partner of Taronga Ventures, said Australian Unity’s track record in social infrastructure investments sees it well placed to support RealTechX. 
“We are delighted to have Australian Unity as a partner in RealTechX. With its diverse portfolio and focus on alternative asset classes, we will have a broader ecosystem that will allow us to invest in a more diverse group of emerging businesses – across aged care to medical and hospitals.
RealTechX’s first cohort of 10 market-ready technology businesses will be announced in December.
 
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jrobinson-rf4aSBido9

Australian Unity partners with Taronga Ventures on real tech growth program, RealTechX

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Joint venture, LEPC9, has lodged its first development application within its master plan-approved site, currently the Nine Network’s headquarters in Willoughby on Sydney’s lower north shore.
The DA includes provision for 40 apartments and associated parking as well as the creation of a public piazza at the corner of Scott Street and Artarmon Road. 
It is being designed by architects of CHROFI, and <a href="/expert-insights/investing/channel-nines-willoughby-hq-site-comes-to-market">the development is being offered to market</a>.
The site received concept approval earlier this year in January 2019 for 460 apartments across ten mid-rise buildings; public piazzas and an extensive publicly accessible open green space.
The DA submission by LEPC9 is the next stage of the approval process while negotiations progress with a number of parties from the expressions of interest process. 
It is projected that construction will commence in 2021.
In the erstwhile Channel Nine will continue to lease the site until a later point next year. 
Colliers International National Director, Development Sites, Residential, Guillaume Volz said despite contrary speculation in the media, demand for the site has intensified and negotiations are continuing with parties on the site well over $220 million. 
“It is a complex project/site and this has resulted in protracted negotiations as parties continue to develop their understanding of this significant trophy site,"
“Market drivers such as the further interest rate cut to 1 per cent by RBA as well as signs of the Sydney market recovering and gearing up for the next cycle, have contributed to the continued strong interest in the site,”Mr Volz concluded.
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j.ballantyne1990-6AQqhLzZaK

Stage 2 DA lodged for Channel Nine's Willoughby headquarters

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Construction firm Built has teamed up with Japanese giant Obayashi Corporation for large-scale construction work in Australia, with the JV chosen as preferred contractor for the $200 million construction of the $350 million redevelopment of the Hotel Windsor in Melbourne CBD for the Halim Group.
Brett Mason, Built managing director, said the JV deal gives Built gives us further scale and capacity to compete for larger construction projects of A$200 million and above,
“In addition, we will be combining our local construction expertise and knowledge with Obayashi’s global experience, including accessing Obayashi’s Technical Research Institute in Tokyo - an R&amp;D facility dedicated to the development of construction-related technologies - in line with our vision to drive further innovation in the construction sector," he said.
“I am also pleased to announce that for its first project, our joint venture has been selected as preferred contractor for the circa A$200 million construction of the A$350 million redevelopment of the historic Hotel Windsor in Melbourne CBD for the Halim Group. 
"Built’s expertise in sensitive heritage projects and track record in luxury hotel construction were key to our success, with works on the 135 year old hotel to include a complex heritage refurbishment and construction of a new tower wing. Construction works are anticipated to commence onsite in the first quarter of 2017 to deliver a six star addition to Melbourne’s luxury hotel sector in 2019. 
Toru Shiraishi, representative director, president of Obayashi Corporation,  said Obayashi Corporation has been seeking to expand our business platforms in Oceania in addition to our existing market base in South East Asia and in North America. 
"Under this agreement, we will combine Built’s local construction expertise and network, and the knowledge of our global experience and financial strengths to create further opportunities to expand the business operations of both companies in Australia. We very much look forward to working with everyone at Built as we develop this exciting partnership.”
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jonathanchancellor-7SQnKwU6yx

Built signs JV with Obayashi Corporation, developing Melbourne's Hotel Windsor

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Barry Plant, head of the Victorian estate agency that bears his name and which is in talks with LJ Hooker about creating a joint venture company, said the Melbourne trust fund missing millions matter would not affect their ongoing talks. 
It was revealed last month in The Australian Financial Review that LJ Hooker and Victorian real estate agency Barry Plant were in the final stages of talks about creating a joint venture company.
The two businesses account for 6.7 per cent and 1.9 per cent respectively of the national volume of real estate sales.
LJ Hooker has 700 franchises in Australia and New Zealand.
Barry Plant has 80 franchised offices in Victoria – with an 11.5 per cent state market share by volume.
It also has two offices in Gold Coast and Adelaide.
Any joint venture that would keep the two brands distinct.
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jchancellor-FAypfDUnLy

Barry Plant says LJH talks will continue

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 <img src="/images/2015/12/2/Holdencapital_banner.jpg" alt="" width="551" height="116">
SPONSORED POST
Just what are the nine must-ask questions you nee to consider before you enter a joint venture?
1. “Needs V Wants?” – A successful Joint Venture or “JV” is typically formed on the basis that the JV parties are contributing complimentary skills and or value to the alliance. The question for the Developer to ask himself is are the skills/value that the other party brings to the deal i) needed; and ii) cannot be better satisfied by other means such as paying an external consultant. A JV partner generally comes at a price such as an agreed profit share based on the contributions each party makes to the “Project”, which results in the Developer giving away a large percentage of his profits. 
2. Trust – What do you know about the party/ies you are about to enter into a JV with? Have you done business with them previously or do you know other Developers who have and if so, what was the outcome? How did they perform against initial expectations? Past performances can provide you with a valuable indication of what to expect in terms of behaviour, work ethic, and integrity. Its just as important to undertake thorough due diligence on a potential JV partner as it is on the metrics of the project. 
3. Incorporated or Contractual JV? – There are pros and cons for both, so its important to understand the features of each and decide which best suits the participants and the project. Appropriate legal and taxation advice upfront is strongly recommended; i.e. the Corporations Law allows parties to look behind the corporate structure of an incorporated JV and attach liability to individuals. On the positive side, the transfer of an interest in an incorporated JV can be done via a simple transfer of shares, which is useful where a JV evolves and needs to take on a different shape from that first envisioned. A contractual JV may be a quicker and simpler structure to establish, but documenting it can still be quite cumbersome. There are potential tax benefits in a Contractual JV allowing tax losses to be affectively offset against income outside the JV, while an Incorporated JV quarantines them within the incorporated entity. Again, it is recommended that the parties seek independent legal and taxation advice having regard to their respective interests, prior to establishing the JV.   
4. Decision Making – It is important to understand and agree how key decisions will be made. In some JV’s decisions will be made by one party only (where the other parties are considered “silent partners”), whereas in most JV arrangements, decisions are made jointly. It is important to establish from the outset, who will be responsible for making key decisions that affect the project.
5. Who will do what? -  a simple way to determine each parties responsibilities is to list the tasks/responsibilities that need to be completed throughout the development process and assign a lead role and a peer review role. A suggested way to simplify this is detailed below: 
<a href="/images/2015/12/2/Screen%20Shot%202015-12-02%20at%202.17.58%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/2/Screen%20Shot%202015-12-02%20at%202.17.58%20PM.png" alt="">
This is obviously a simplified list, but by allocating responsibility for the macro tasks, that party is then responsible for allocating the appropriate sub-tasks with peer reviews undertaken by the secondary party to ensure compliance as a double check.
6. Tracking Performance – From the outset it is important to establish clear performance targets for all JV parties and then ensure that these measures are tracked and reported. Regular meetings between the JV parties should be scheduled and performance against the agreed measures should be discussed to ensure the project remains satisfactorily on track. Identifying poor performance early and acting to resolve any issues is critical to the projects success.      
7.Profit sharing – It is critical that the distribution of profits and risks borne fairly represent the contributions made by each party based on their contributions - skills and financial. These contributions can change over the life of a JV and it is therefore important that there are agreed mechanisms to allow changes to the profit distributions to reflect those changes. Typically, this occurs where there is a requirement for subsequent equity contributions, particularly where only one party has the capacity or will to participate. The agreement should contemplate this and provide for appropriate adjustments to entitlements to reflect the change in contributions/risk. Poorly structured agreements inevitably result in a dispute situation and if a party is not adequately incentivised, this could impact their performance and in turn the project success. 
8.Disputes – All agreements should include appropriate dispute resolution clauses to ensure the project is not stalled where an impasse is reached on key issues. To avoid the cost in time and money, it is important to clearly articulate the dispute resolution procedures and most good JV Agreements will include a suite of tailored clauses. Typically, they will provide for a number of pre-agreed outcomes but also where a critical dispute cannot be resolved using those clauses; the agreement will should either have a deadlock or mediation process. Ultimately, if mediation fails it could result in expensive litigation, which is to be avoided at all cost. 
9.Ending a JV arrangement – Unlike a “partnership” a JV is not a legal entity and is typically an agreement between two or more parties to form a strategic alliance for the purpose of a single or specific number of projects. Therefore the dissolution of a JV is reasonably straightforward, doesn’t typically require any further legal documentation and will end on completion of the project/s. This is why JV’s are quite common in property development as they can be formed for the purpose of a single project, should contemplate various exit solutions to deal with situations where the project fails meet the original expectation and allow for the JV parties to move on at completion. 
This article was written by Dan Holden of HoldenCAPITAL, who are a bespoke construction finance firm, they arrange construction finance and invest in projects through their equity fund, Queen Street INVEST. To discuss your project finance requirement please call (07) 3171 4200 or visit HoldenCAPITAL <a href="https://www.holdencapital.com.au/" target="_blank">here</a>.
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