Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

Melbourne off the plan apartments

Lifestyle developer <a href="/developers/gurner">GURNER™</a> has submitted plans for the first stage of its <a href="/developments/docklands-vic-3008">Docklands</a> mega-project, Elysium Fields.

Gurner says Elysium Fields has been created around the concept of a futuristic wellness and anti-ageing utopia,&nbsp; where purchasers will have access to some of the world’s most advanced anti-ageing, holistic health and nature-based wellness principles within a city forest and landscape oasis.&nbsp;

They say the focus has been to create a&nbsp;self-contained biosphere-like design – the likes of which has previously only been seen in sci-fi movies – that will instil a sense of true tranquillity, making residents feel like they could by anywhere in the world as they enter the pristine, futuristic and inspiring oasis in the heart of Docklands.&nbsp;

The concept brings together Tim Gurner’s personal wellness journey and the latest in science-backed health and wellness, to deliver a regenerative anti-ageing and wellness experience that has been based on American Neuroscientist Andrew Huberman’s five pillars of health being: sleep, sunlight, &nbsp;movement, nutrition, and social connection.&nbsp;

<img alt="Elysium Fields - Harbour Esplanade" data-entity-type="file" data-entity-uuid="aa167a84-0b9c-430b-b721-dc462c0d1644" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02%20-%20Harbour%20Esplanade_DJI_0653_Opt001_0.jpg?VersionId=P0yI9L1CD7Td1Vnwvixyt9KsMm.jnPZ." />

At Elysium Fields, residents will have access to advanced anti-ageing protocols and equipment like cryotherapy, IV infusions, dry and infrared sauna, red light therapy, grounding and PEMF beds, alongside access to visit the Elysian Reverse Ageing Medical Clinic that will provide medical-grade treatments including MRIs, DEXA scans, brain scans, blood testing and personalised health plans.&nbsp;

Residents will also gain access to a new venue of Gurner Group’s sold-out Saint Haven club which will be the largest in the Group’s portfolio at around 5,000 sqm, and an indulgent Haven Ancient Baths concept, also by Gurner Group, that will offer 15 different types of enriched water for optimum health. &nbsp;

The ancient bathhouse, to be known as Haven Ancient Baths, will be one of the world’s largest bathhouses, bringing together the latest technology while celebrating the history and science behind bathing from centuries-old traditions. &nbsp;

<img alt="Elysium Fields - Wurundjeri Way" data-entity-type="file" data-entity-uuid="5446502c-7001-4111-9523-c6425a07b08f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E03%20-%20Wurundjeri%20Way_DJI_0490_Opt001.jpg?VersionId=w9MOEOtEJkNMcGMOkOCPlPJ5QpFWXFR_" />

Designed by <a href="/architects/fraser-partners">Fraser &amp; Partners</a>, GURNER™’s vision also includes over 3,700 sqm of much-needed immersive public landscapes and gardens that will connect residents with the natural world, inspired by the verdant buildings of Singapore that meld the built form with abundant greenery. &nbsp;

The&nbsp;27,000 sqm site precinct will include a landscaped pedestrian-focused ‘path of life’ that runs the entirety of the north-south ground floor/podium plane that will be designed for running track, Yoga, meditation, &nbsp;training, exercise and recovery, alongside a rooftop sports court, a private wellness club, a pool club and 5,000 sqm of retail, dining and public realm amenity.&nbsp;

The precinct will also feature its very own botanical gardens, be geared for a 24/7, interactive retail, &nbsp;dining and entertainment experience, and include a stunning, futuristic glass dome over the site, &nbsp;modelled on the concept of Elysium being the utopian afterlife. &nbsp;

The parks will be a key part of the offering and are centred around the ancient Japanese principle of &nbsp;Forrest bathing. This will provide residents with an opportunity to spend time among trees and greenery, &nbsp;akin to unwinding and relaxing in a forest, while still being in the heart of the city.&nbsp;

The journey to optimal health will continue inside each residence, with the homes designed to include filtered air purifiers, filtered water, access to northern sunlight, circadian lighting and optional recovery upgrades.&nbsp;

<img alt="Elysium Fields - Path of Life" data-entity-type="file" data-entity-uuid="d7334d2f-a4dc-4f7a-b497-16b99847b468" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/EA01%20-%20Path%20of%20Life.jpg?VersionId=kJP3fMcTiwwF1YAxynCO9iCfqVHU1NcM" />

A joint venture between GURNER™ and City Harbour – a consortium that includes the Liberman family, which holds the development rights to the project – the Docklands precinct is located in a key strategic pocket that connects the southern end of the CBD with the Docklands harbour waterfront and the gateway to the western suburbs. &nbsp;

The 27,000 sqm island infill site is located at 208-226 Harbour Esplanade, which once complete will encompass circa 1700 dwellings with an end value of $1.7 billion. &nbsp;

The development will include over 1,350 BTR and BTS apartments, a retail and hospitality precinct, a 4-star short-stay hotel of circa 100 keys and another premier 5-star hotel in the main tower of over 250 keys, with state-of-the-art conference facilities, a business club and hospitality offerings.&nbsp;

The first stage includes three towers totalling 640 dwellings, of which GURNER™ plans to launch the first tower, a build-to-sell offering with 231 apartments, in Q3 this year. Construction of the tower is planned for the same time.

While plans have previously been approved for the site, GURNER™ is submitting a revised scheme that aims to unlock more activation across a public realm and focus on pedestrian circulation, public amenity and increased connectivity to nature. &nbsp;

Planning approval for the precinct vests with the Minister for Planning, after which GURNER™ is aiming to launch the first tower to the market later this year. &nbsp;

Tim Gurner said when you enter Elysium Fields you will be stepping into another world – one that is serene, clean, &nbsp;vibrant and grounding.

"When you’re amongst the project’s forest and landscape you’ll feel like you could be anywhere in the world, while being right on the doorstep of the CBD," Gurner said.

"Through Gurner Group’s focus on progressive wellness and holistic health, and the overwhelmingly positive feedback from our members and customers, I am increasingly driven to create an ultimate wellness experience for the communities in which our buildings sit, that brings together cutting edge wellness and health amenities with a connection to nature, which we now know unequivocally improves sleep, our mental state of being and unlocks myriad health benefits."

Tim Gurner said when you enter Elysium Fields you will be stepping into another world – one that is serene, clean,  vibrant and grounding

GURNER submits plans for first stage of $1.7 billion Docklands precinct, Elysium Fields

James Packer is one of Australia's most well-known billionaires.

The former Crown Resorts chair spends most of his time nowadays overseas sailing around the world on his $200 million super yacht IJE. When in Australia he calls home his $72 million, two-level spread toward the top of Crown's Barangaroo tower.

Packer's interests however seem to have broadened recently and into more modest property development compared to those vested interests in the $2.2 billion Barangaroo tower.

Packer's name has popped up on company directorships that tie him to a new $32 million apartment development in Melbourne's leafy suburb of Balwyn, a suburb where new apartment developments are a dime a dozen.

A tangled web of investors shows Packer's Consolidated Press International Holdings Limited investment vehicle as the ultimate holding company for Sharland Holdings, which shows an interest in the entity NPG MALEELA PTY LTD, the name on the development application.

The project, <a href="/new-apartments/maleela-rise-balwyn-23-maleela-street-balwyn">Maleela Rise</a>, is expected to be developed by Chapter Group, with the Lefkos family name in the directorships of the main company.

Parts of the web involve businessman Joe Gersh AM, Executive Chairman of Gersh Investment Partners, and his Director and Chief Operations Officer Theo Axarlis. Crown's former executive vice-president for strategy and development, Todd Nisbet, also appears on the paper trail.

NPG MALEELA PTY LTD company filed the plans for&nbsp;31 apartments on the 3,862 sqm site at 23 Maleela Avenue, just set back from Whitehorse Road between Balwyn and Deepdene.

Cera Stribley has put together plans, recently submitted to the Boroondara Council, for the low-rise, three-level building which will have a near 60-metre frontage to Maleela Avenue.

<img alt="Cera Stribley" data-entity-type="file" data-entity-uuid="c89ef964-fe12-42b2-ba57-464660bba9ee" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-03-19%20at%2012.14.41%20pm.png?VersionId=S.T.24jJzFl0xENA1PlKNd1P4d_NFqkE" /> 
The plans for 23 Maleela Avenue. Image credit Cera Stribley

There will be 31 apartments across the four levels, 10 two-beds and 21 three-beds, of which 18 have completely different floorplans.

The two-bed apartments start from 114 sqm and range in size up to 140 sqm, while the smallest three-bedroom apartments have 150 sqm of internal space. They step up toward the three penthouses which have been 310 sqm and 361 sqm of space, each with three master suite bedrooms and two living rooms.

The documents submitted by Cera Stribley stated they wanted to capture elements of Balwyn and distil them into the project to create a unique yet familiar design starting point.

<img alt="Balwyn" data-entity-type="file" data-entity-uuid="de400ed2-beee-4faf-a446-4b43931901d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-03-19%20at%2012.39.34%20pm.png?VersionId=fhJCP6B7QEp34s5ZcdZCXY5vpPFG2Bls" /> 
The current site in Balwyn

"There is high demand from home buyers for a diverse range of housing in the established premium suburbs such as Balwyn," Cera Stribley said.

"In order to satisfy this need for housing diversity and allow for more families to have access to such a coveted location, there are numerous developments built and emerging in the wider context of Balwyn.

They said a study of the housing character within Maleela Avenue showcased an eclectic catalogue of Australian homes in styles not limited to Georgian Revival, Moderne and Tudor Revival.

"The proposed articulation of the building form is in response to the surrounding architectural heritage homes found in the Street and wider suburb. The north and south of the building along Maleela respond directly to the adjacent residential architecture. At the south, the building sits atop the highest point and grounds the proposal into the site. A break is introduced into the facade at the main pedestrian entry and the building form then changes to introduce long horizontal planes which flow down towards the northern end of the site."

The building will sit in landscaping by Jack Merlo.

Chapter Group were in the headlines recently for setting the Fitzroy apartment record with the sale of an amalgamated penthouse at their Fitzroy Fitzroy development for over $10 million.

Read more:&nbsp;<a href="/news/vic/confidence-in-melbournes-off-the-plan-apartment-market-soars-with-record-10-million-fitzroy-sale">Confidence in Melbourne's off the plan apartment market soars with record $10 million Fitzroy sale</a>

[smartcode_project_cta:default project_id=144443]

First look exclusive: Billionaire James Packer's Melbourne apartment play, Maleela Rise, revealed

Port Melbourne has welcomed one of its most boutique apartment developments to date with the recent launch of 50 Rouse, just three whole-floor apartments named after its location at 50 Rouse Street.

Located just one street back from Beaconsfield Parade and the <a href="/developments/port-melbourne-vic-3207">Port Melbourne</a> Lifesaving Club, <a href="/new-apartments/50-rouse-street-port-melbourne">50 Rouse</a> is being developed by Greenock and has been designed by <a href="/architects/wood-marsh">Wood Marsh</a> to celebrate Port Melbourne's industrial heritage while ushering in a new era for the beachside precinct.&nbsp;

[smartcode_project:default project_id=144367 project_image_fid=259402]

"Wood Marsh is an integral part of the 50 Rouse project as the lower two levels will house our architecture studio, which ensures our vested interest in delivering the highest quality outcome," Wood Marsh said.\

The facade of 50 Rouse features mirrored glazing for privacy and visual interest, accentuated by durable and weather-resistant materials such as raw bronze, concrete, and perforated brickwork.&nbsp;

The upper levels of the facade incorporate expansive balconies to reduce visual bulk and promote indoor-outdoor living. Sustainability is a key focus, with permeable balustrades, passive shading techniques, and optimum cross-flow ventilation integrated into the design.&nbsp;

The building is also landscaped by award-winning studio <a href="/architects/jack-merlo">Jack Merlo Landscape Architects</a>, providing residents with a lush green outlook and a heightened sense of liveability.

[smartcode_project:default project_id=144367 project_image_fid=259404]

The natural and durable palette extends within the interiors, wherein each apartment features tactile stone surfaces, hardwood floors, and dark timber joinery.&nbsp;

Floor-to-ceiling windows invite natural light and panoramic views into each space, while the open floor plans are designed to cater to the entertainer's lifestyle.

Sliding doors blur the boundaries between indoors and outdoors, extending the living area to the terrace.

[smartcode_project:default project_id=144367 project_image_fid=259398]

The chef's kitchen is complete with a well-appointed scullery and cleverly integrated storage, while a full-sized dining table takes centre stage on the open plan.

The master suite features an oversized walk-in robe and a sleek ensuite with a custom double vanity, complemented by a large free-standing tub and a spacious walk-in shower.

50 Rouse is slated for completion in December 2025. Stephen Brooks is marketing 50 Rouse.

[smartcode_project_cta:default project_id=144367]

The facade of 50 Rouse features mirrored glazing for privacy and visual interest, accentuated by durable and weather-resistant materials such as raw bronze, concrete, and perforated brickwork

Staff Writer

Woods Marsh-designed luxury Port Melbourne apartments, 50 Rouse, launch

It was around four years ago when international property developer Landence completed their first Australian development, The Evermore, in the heart of one of Melbourne's best tower precincts.

<a href="/buildings/the-evermore-southbank-58-66-dorcas-street-southbank">The Evermore</a>, in the heart of&nbsp;<a href="/developments/southbank-vic-3006">Southbank</a>&nbsp;on Dorcas Street, offers 366 one, two, and three-bedroom apartments atop a podium level housing upscale retail spaces.&nbsp;

Designed by <a href="/architects/hayball">Hayball</a>, The Evermore's two glass towers are characterised by a louvred metallic facade that shimmers champagne and warm copper.

[smartcode_project:default project_id=2087 project_image_fid=237888]

Upon arrival at The Evermore, the grand lobby welcomes residents with abundant tropical plantings and opulent timbered walls, while the staggered ceiling creates a feeling of space and grandeur from above.

Each Evermore residence has&nbsp;adaptable living spaces with strategically positioned windows flooding the apartments with abundant natural light.

The expansive floor plans, spanning from 60 to 120 sqm, showcase natural finishes, organic textures, engineered European oak floors, and refined colour palettes.

[smartcode_project:default project_id=2087 project_image_fid=237908]

Residents can choose between two classical palettes, distinguished by either dark or light timber flooring, complemented by matching veneer cabinetry and metal finish accents.

Apartment views range from across Melbourne, Port Phillip Bay, or the Yarra Ranges.

The kitchens are equipped with stainless steel European appliances, concealed LED-lit marble splashbacks, and reconstituted stone benches, while bedrooms feature inviting natural tones, timber-look wardrobes, and ribbed wool carpets.&nbsp;

[smartcode_project:default project_id=2087 project_image_fid=237893]

Stylish bathrooms include generous storage options with LED-underlit mirror vanities as well as timber-look cabinets that sit below solid surface basins serviced by brass tapware.

[smartcode_project:default project_id=2087 project_image_fid=237920]

Influenced by the world’s grand hotels, The Evermore features a range of shared spaces that present a sense of escape from the everyday.

Residents have access to a range of amenities designed to elevate their living experience, including courtyard gardens, a heated swimming pool, a well-equipped gym, as well as dining, lounge, and cinema rooms.

Situated only minutes from Melbourne's bustling CBD, the famous Botanic Gardens, and the vibrant South Melbourne Market, residents have endless opportunities to immerse themselves in the city's culture and lifestyle.

[smartcode_project_cta:default project_id=2087]

Upon arrival at The Evermore, the grand lobby welcomes residents with abundant tropical plantings and opulent timbered walls

Inside Landence's flagship Southbank apartment development, The Evermore 

Multi-billion-dollar developer GURNERTM has submitted plans for its 4,651 sqm trophy site at 424-426 St Kilda Road, Melbourne, with a vision to deliver a high-end residential and mixed-use address befitting of the prestigious location.

The developer has submitted plans for around 200 apartments over 19 levels, with a focus on large two, three, four bedroom and two double-storey penthouse offerings, alongside a signature amenity offering.

After a detailed international design competition, GURNERTM appointed the Chicago-based, international architecture firm SOM, in what is the developer’s first collaboration with the architecture firm.

SOM (formerly Skidmore, Ownings, and Merrill LLP) was founded in 1936 with some of its most notable projects including the Burj Khalifa in Dubai and the One World Trade Centre in New York.

The design of 424 St Kilda Road has taken design cues from the rich history of St Kilda Road’s old world mansions through its masonry façade, and will focus on high-end residences with a secret Porte Cochere arrival experience and lobby underground.

Adding value to the regeneration of the St Kilda Road precinct, 424 St Kilda Road will also include a ground floor retail and food and beverage, as well as an extensive wellness offering.

The corner site – which boasts three frontages on the corner of St Kilda Road, Toorak Road and Queens Lane – will offer uninterrupted views over the Royal Botanic Gardens and Domain precinct and Albert Park Lake.

Once complete, the project will boast walkability to Anzac Station, Albert Park Lake, the Royal Botanic Gardens and Fawkner Park, and be in easy proximity to South Yarra’s retail and dining precinct.

Tim Gurner said they&nbsp;are looking forward to shaping such an important corner of Melbourne’s history.

"This site was once the famous Illoura House, which was sadly was demolished many years ago.&nbsp;We will be bringing the corner back to life with an incredible design by SOM that we wanted to be classic, calm and quietly proud to sit in its location, ensuring that it stands the test of time.

“We will be taking the high-end offering to a whole new level after the successful delivery of Saint Moritz which has set tone for our concept at 424 St Kilda Road.”

Gurner's&nbsp;Chief Development Officer Rob Clarke said due to the sites prominent corner position, the building requires a certain elegance in its design and reimagining of its use to unlock not only its value as a significant residential asset, but a design monument in its own right.

“Our vision is to create a series of wellness-led residences that can be amalgamated, customised and completely imagined from the inside out, in line with our clients’ exacting tastes, to create a series of bespoke homes for our discerning clientele."

Burj Khalifa, One World Trade Centre architect to design Gurner's latest Melbourne apartment development

Glen Iris is one of the most family friendly suburbs in Melbourne.

The small seven square kilometre pocket 10km south east of the Melbourne CBD, is an attractive proposition for those with children due to the convenient access to the city, some of the best schools in the state, and a leafy, suburban feel which isn't often found in suburbs this close to the city.

ABS census data shows over 60 per cent of households have children.

Despite being just seven square kilometres, there's a massive 26 parks scattered across Glen Iris, the best for kids being Ferndale Park with an upgraded kids playground built into a hill.

There's three schools which are rated in the top 15 schools in Victoria according to My Choice Schools. Private girls secondary schools Korowa Anglican Girls' School is ranked as the seventh best private school in the state, while St Cecilia's Primary School and Glen Iris Primary School are ranked 11th and 24th respectively.

There is a large disparity between the median house and median unit price, about 60 per cent, with the house price median about $2,475,000, according to CoreLogic.

The gap is pushing some families who want to either stay in or move to the area into the townhouse and apartment market, a market which has served up some impressive new options in recently.

We've wrapped up the top townhouse and apartment developments in Glen Iris in 2024.

<h2>Project: Lori</h2>

<h3>Location: 1610 Malvern Road, Glen Iris VIC 3146</h3>

<h3>Developer: LK Property Group</h3>

<a href="/new-townhouses/glen-iris-vic-3146">Glen Iris</a>' latest townhouse project, <a href="/new-apartments/lori-glen-iris-1610-malvern-road-glen-iris">Lori</a> by <a href="/developers/lk-property-group">LK Property Group</a>, has only three of the eight three-bedroom townhouses left, as locals seek this rare opportunity in the southeast suburb.

Designed by the award-winning <a href="/architects/megowan-architectural">Megowan</a>, each two-level townhouse features three bedrooms and is situated on a sloping block near the Glen Iris Station, offering a well-connected location and scenic views through large picture windows overlooking the surrounding treescape.

[smartcode_project:default project_id=114100 project_image_fid=246519]

Built to endure across decades and generations, Lori incorporates future-proof technology and infrastructure.&nbsp;

Each home is designed for rooftop solar and electric car charging, reflecting LK Property Group's commitment to sustainability.&nbsp;

[smartcode_project:default project_id=114100 project_image_fid=246530]

The development is also 100 per cent electric, aligning with a more renewable path and minimising residents' environmental footprint.

Immerse Constructions is currently building Lori, which is slated for completion in Q2 2024.

<h2>Project: GALERIE</h2>

<h3>Location: 1538-1540 High Street, Glen Iris VIC 3146</h3>

<h3>Developer: LDS Property</h3>

Glen Iris' newest apartment development, <a href="/buildings/galerie-glen-iris-1538-1540-high-street-glen-iris-vic-3146">GALERIE</a>, has surpassed the 70 per cent sold mark for its 29 two and three-bedroom units, as construction advances towards a late 2024 completion by high-end, award-winning construction company Iurada.

GALERIE was developed by <a href="/developers/lds-property">LDS Property</a>, which is currently offering a five per cent deposit on the apartments for a limited time.

[smartcode_project:default project_id=112375 project_image_fid=256710]

The two, and three-bedroom apartments boast expansive landscape courtyards or elevated balconies, offering views of the metropolitan area.

The open-planned living spaces have been designed to seamlessly integrate with the surrounding landscape through large windows and sliding doors, providing residents with a direct connection to nature.

[smartcode_project:default project_id=112375 project_image_fid=250358]

GALERIE has been designed by <a href="/architects/ewert-leaf">Ewert Leaf</a> and sits in landscaping by <a href="/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a>.

The development drew early interest from local downsizers and empty nesters seeking to remain within the Glen Iris area.&nbsp;

<h2>Project: 225 Burke Rd</h2>

<h3>Location: 225 Burke Road, Glen Iris VIC 3146</h3>

<h3>Developer: Werden Property Group</h3>

Glen Iris has also seen the completion of a boutique development by <a href="/developers/werden-property-group">Werden Property Group</a>, <a href="/buildings/225-burke-road-225-burke-road-glen-iris">225 Burke Road</a>.

Only a few of the 16 contemporary apartments remain for sale. The two-bedroom apartments were snapped up pre-completion, leaving just a few three-bedroom apartments for sale.

Melbourne-based <a href="/architects/ckairouz-architects">C. Kairouz Architects</a> designed 225 Burke Road with a robust façade, which gives way to warm, inviting, and minimalist apartments.

[smartcode_project:default project_id=5016 project_image_fid=225961]

The kitchens feature striking natural stone benchtops, and top-of-the-line integrated Miele appliances, while the bathrooms feature rainwater showers and double vanities in the master ensuites.

The oak floorboards in the home lead out to balconies via the floor-to-ceiling double-glazed windows, flooding the home with abundant natural light.

225 Burke Road boasts an enviable location within walking distance of High Street trams, shops, cafes, esteemed schools, Glen Iris station, and the M1 Freeway, which offers easy access to the rest of Melbourne.

There is a large disparity between the median house and median unit price, about 60 per cent, with the house price median about $2,475,000, according to CoreLogic

Why Glen Iris offers the best lifestyle for families, and what they can buy

Developer Auriton has secured planning approval for a $100 million mixed-use development project in Melbourne's southeast.

Auriton expect working professionals, investors, retirees, students, and those in the medical field to be the most likely demographics for purchasers of the 144 one, two and three-bedroom apartments in the&nbsp;<a href="/architects/cera-stribley-architects">Cera Stribley</a>-designed building at&nbsp;<a href="/new-apartments/409-clayton-road-clayton">409 Clayton Road</a>.

The Monash City Council granted planning permission for the 11,000 sqm Clayton site, marking a significant milestone for the developer after previously proposed plans faced hurdles.

The initial 17-level proposal was refused by both the council and the Victorian Civil and Administrative Tribunal (VCAT) based on community objections, with the council imposing 47 conditions upon approval, aimed at balancing community needs with urban progress.

The development will replace an existing building and petrol station on the site.

The&nbsp;project will encompass a 12-level, part 17-level tower comprising 144 apartments divided into 87 two-bedroom units, 49 one-bedroom units, and eight three-bedroom units.&nbsp;

<img alt="Clayton" data-entity-type="file" data-entity-uuid="1d925c34-9c5d-46f4-87e3-9c254cab493f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-03-14%20at%2011.11.01%20am.png?VersionId=BL1Df8yfqUbjZV8khTtf790IQxBRPaPq" />

Cera Stribley said in its planning documentation submitted to the City of Monash that the design begins with the missed opportunities of the previous scheme.

"Where context was previously ignored, history and geography are thoroughly interogated and embedded into the form.

"Curves are brought in and edges are softened and modularity is introduced to provide depth and articulation. Drawing from the geographical context of Melbourne's 20 million year-old Sandbelt, a building that was previously devoid of context is now formed directly from its natural surroundings.

"Overtime, this sandy substrate has been moulded into the bunkers, fairways and rolling hills of the wider region's golf courses, and now it forms a new offering to the Clayton community. Its soft, delicate forms contrast with the cool, smooth surfaces of the glazing behind, while the integration of soft landscaping into the modular terrace design introduces another layer of texture across the facade."

The development will also house office and retail tenancies, communal spaces, a pool, and various amenities, as well as&nbsp;two social housing apartments.

The 16,055 sqm of floor space will be supported by 147 car parking spaces and 121 bicycle storage spaces.

Construction is set to commence soon, with completion slated for 2027.

[smartcode_project_cta:default project_id=100405]

Auriton win approval for Cera Stribley-designed apartment development in Clayton

Established Melbourne developer Pace&nbsp;has unveiled its latest residential development, Fabbrica Fitzroy.

<a href="/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy">Fabbrica Fitzroy</a> offers 78 one, two, and three-bedroom apartments, including townhouses with street frontage, tailored to the preferences of owner-occupiers and downsizers.&nbsp;

<a href="/developers/pace-development-group">Pace</a> purchased the Gore Street site five years ago, a site which holds historical significance having been home to the Argyle Shirt Factory and Life Savers Confectionery Company.&nbsp;

[smartcode_project:default project_id=139552 project_image_fid=254895]

Award-winning architectural practice <a href="/architects/sjb-architects">SJB</a> has integrated the industrial past of the site into Fabbrica's dynamic future, creating exterior and interior spaces that connect with the contextual fabric and character of <a href="/new-apartments/fitzroy-vic-3065">Fitzroy</a>.

Pace took an adaptive approach to the project, responding to shifts in the market. The focus on owner-occupiers became paramount, leading to a redesign that increased apartment sizes and catered to downsizers.&nbsp;

The development provides a deliberate emphasis on larger apartments and offers personalisation options for residents. Two distinct interior design schemes by <a href="/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> or <a href="/interior-designers/bergman-co">Bergman &amp; Co.</a> allow residents to choose between the integrated details of Model A or the opulence of Model B.

[smartcode_project:default project_id=139552 project_image_fid=240744]

Model A by Winwood Mckenzie features built-in sofas and fold-down beds with stainless steel and marble accents, while Model B by Bergman &amp; Co. boasts bursts of granite and textural timber on dressing tables and clever cocktail cabinets.

Beyond the apartments, Fabbrica Fitzroy boasts a number of amenities designed to enhance the resident experience. An expansive 800 sqm rooftop, offering panoramic views of the CBD, features BBQs and casual dining areas surrounded by botanical landscapes by landscape architecture practice Acre.&nbsp;

[smartcode_project:default project_id=139552 project_image_fid=240743]

Residents can also book a private dining room with a communal kitchen, while there's also a lounge designed by Winwood Mckenzie and dedicated work-from-home zones.&nbsp;

The development further boasts a building concierge accessible via a residents' app for added convenience.

Strategically located on the corner of Johnston and Gore Streets, Fabbrica Fitzroy offers a coveted location only four minutes from the <a href="/new-apartments/melbourne-vic">Melbourne</a> CBD.

[smartcode_project_cta:default project_id=139552]

PACE took an adaptive approach, responding to shifts in the market. The focus on owner-occupiers became paramount, leading to a redesign that increased apartment sizes and catered to downsizers. 

Pace launch Fabbrica Fitzroy

Melbourne's unexplainably soft property market continued into the second half of 2023, but the off the plan apartment market in the Victoria capital market will come good in the short to medium term, Charter Keck Cramer forecast.

It was a little over 12 months ago when the property advisory firm suggested prices could spike in the off the plan space as high as 25 per cent. While the expected price movement hasn't materialized just yet, CKC said it will, and it might even be higher than first thought.

They said there are however a few factors which will contribute to the market going this way.

"Our analysis of <a href="/developments/melbourne-vic">Melbourne’s housing market</a> shows that the price gap between detached houses and established units is 55% (the pre-pandemic average was 35%)," CKC said.

Their analysis found that established units (townhouses and apartments) are currently undervalued by between 15% to 20%, and given the supply v demand imbalance, will continue to correct upwards over 2024 as the market finds a new equilibrium.

"Our analysis suggests that the established unit market (townhouses and apartments) will need to continue to reprice upwards (by around 15% to 20%) until the house price hierarchy is once again established. It is at this point that new off the plan apartments will be able to be delivered at price points which again make apartment development feasible."

They said the timing for when this occurs will come down to when rates start to cut and when Government incentives are introduced, but when they are, they say the market needs to prepare for dramatic price increases in new off the plan apartments of +25% to +30% (compared to pre-pandemic prices) over the next 12-18 months across many sub-markets.

<h2>Government Incentives</h2>

Charter Keck Cramer believe there are several essential tools and levers for Government to both avoid and also pull.

"The key tools and levers to avoid include changing negative gearing, changing CGT, introducing rental caps or rental freezes or further increasing any taxes or charges. This will stifle supply, further suffocate investor confidence, and all but ensure the housing targets fail to be achieved."

On the flip side, CKC said there are key tools and levers that are essential that the&nbsp;Government activate so as to stimulate the build to sell apartment markets.

"These include reintroducing off the plan incentives for local and foreign investors, replacing stamp duty with an annual land tax, enticing empty nesters to downsize by removing stamp duty charges and providing rental subsidies to lower income renters.

"Many of these incentives could be introduced for set periods of time until they have the required stimulatory effect on the BTS and BTR apartment markets. Revenue from the supply that is ultimately delivered can then be collected at the back of these projects."

<h2>Downsizers to be incentivized</h2>

Over 2020-2022 the downsizer segment of the BTS apartment market was the best performing segment of the market. This was because the typical downsizer was less impacted by interest rate rises and many increased their asset base via the large increase in the value of their detached house. As a result, they had the option to downsize into an apartment and also have money to fund their retirement. Over the last 6 months, however, a trend has emerged where the downsizer market has started to lock up and stagnate.

This is because the costs of a new apartment in many sub-markets has increased to the point where the price trade-off that made downsizing financially attractive no longer exists. Charter Keck Cramer notes that the costs of a new apartment, when combined with the upfront stamp duty impost for such a dwelling, means downsizers are being asked to downsize into an apartment via a revenue neutral exchange. The response by many downsizers has unsurprisingly been to remain in place and find other ways to support their children and their lifestyles. What is a concern is that our research shows that many downsizer households are under superannuated and will only downsize if they can age in place but also use part of the house sales proceeds to fund their retirement. Government is strongly encouraged to remove stamp duty for downsizers and also bring in further incentives to encourage them to downsize and retire in a financially responsible manner.

<h2>Melbourne's Supply Metrics</h2>

Melbourne’s Central City Region has historically delivered the greatest number of new apartments, due to a favourable planning scheme, the availability of sites and the proximity to tertiary educational institutions. Charter Keck Cramer however noted that Melbourne’s Inner Region demonstrates its growing importance to metropolitan Melbourne’s apartment supply in an evolving market.

Melbourne is forecast to be Australia’s fastest growing capital city over the next 3-4 years. Melbourne’s population growth is forecast to measure around +1.9% p.a. over FY2024-FY2027, supporting demand for additional and diverse forms of dwellings.

Only 2,600 apartments were launched to the market in 2023, the lowest number of&nbsp;launches recorded over the past decade and measures almost 40 per cent below the previous low experienced during the pandemic.

CKC found that the most active region in 2023 was the Inner Region (39% of launches) followed by the Central City (33% of launches). Activity decreased significantly across all regions compared to the 12 months prior.

In 2023, construction commenced on 3,700 apartments, the lowest number of apartment commencements recorded over the past decade and a significant decrease on peak levels recorded during 2015 (22,500).

<img alt="Melbourne" data-entity-type="file" data-entity-uuid="e387c076-3666-4e8a-8901-0992f3edada4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-03-12%20at%202.02.52%20pm.png?VersionId=biRvMfIDMgN1ExxhkUO9wM3G3012E.2e" />

The apartment completions side of the supply metrics were the scariest numbers to read. CKC said that in 2023 completions were at their lowest numbers since 2010.

"As difficult market conditions have dampened launches and commencements, the impact upon completions (and ultimate supply) has well and truly materialised now that any projects that were a legacy of previous cycles have been completed.

"Melbourne is forecast to deliver sub-5000 apartments per annum on average over the coming three years. There are currently 7,700 under construction and due for completion over 2024-2025."

An additional 6,300 are currently being marketed and due to be complete before the end of 2026, however CKC believe a proportion of these projects are likely to be delayed given elevated construction costs and a challenging pre-sale environment.

"Charter Keck Cramer expects Melbourne's apartment market to remain chronically undersupplied for at least the next 2-3 years given current market conditions and the time taken to mobilse and build out high density projects."

<img alt="Melbourne" data-entity-type="file" data-entity-uuid="8b4ffcc2-a632-4c26-8f3a-648c1f27769f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-03-12%20at%202.03.56%20pm.png?VersionId=PDF8HD2YxS1Bvdflf3hH6cKGSew5ziwR" />

<h2>Outlook over 2024</h2>

Charter Keck Cramer concluded by suggesting it will take a lot more than interest rate cuts to stimulate the build to sell apartment market back to life, but also to facilitate them to deliver the unprecedented quantum of apartments required to allow the Federal and State Governments to achieve the aspirational housing targets.

"After considering all the data, our view is that the market will start to turn towards the middle of 2024. Interest rates need to be cut by at least the middle of the year and several incentives need to be introduced immediately to stimulate the BTS apartment markets.

"These are the swing variables as to how quickly the BTS apartment market starts to turn and how quickly the housing and rental crisis is addressed.

"Our research shows that whilst the industry is preoccupied with prices having to increase by +25% to +30% or more for projects to be viable, the biggest risk and one that Government needs to address over the next decade is the shortage of labour required to build out these projects. In this regard, the migration program needs to be changed and tailored to attract key skilled workers into Australia.

"To conclude, the BTS and BTR apartment markets will continue to improve over the course of 2024 and with the market so chronically starved of supply there stands to be a very strong and elastic response as conditions start to improve over 2024 and into 2025."

"After considering all the data, our view is that the market will start to turn towards the middle of 2024," Charter Keck Cramer advised

New apartment projects in Melbourne at lowest levels since 2010, market to turn in mid-2024: Charter Keck Cramer

National diversified property developer Fortis has officially launched <a>Wiltshire House</a>, its new mixed-use development in the heart of Richmond.

Wiltshire House offers 57 one, two and three-bedroom apartments, as well as premium office space and a modern ground floor retail precinct ideally set just off Swan Street near East Richmond Station.

<a href="/developers/fortis">Fortis</a> engaged <a href="/architects/sjb-architects">SJB</a> as the lead architect, in collaboration with landscaping by <a href="/landscape-architect/acre">Acre</a>, to reimagine the previously approved plans for the second building which had initially also been reserved for commercial uses.

This transformation from commercial to residential design reflects Fortis' response to the pent-up demand for high-quality residential properties in Melbourne's inner suburbs.

[smartcode_project:default project_id=13181 project_image_fid=257381]

The apartments, with a refined natural palette, are designed with large open-plan living areas leading out to balconies via double-glazed window doors.

The kitchen, equipped with Swiss V-Zug appliances, includes a stone island bench and a butler's pantry, while the master&nbsp;bedroom is accompanied by a stone-topped ensuite.

[smartcode_project:default project_id=13181 project_image_fid=256233]

Victoria's General Manager of Development, Tim Mills, says Wiltshire House aims to create a lifestyle precinct.

“As with our Sydney and Brisbane projects we are aiming to deliver more than just residences – by emphasising the existing local DNA of the areas in which our projects sit, while ensuring connection between our network of neighbouring projects within the same suburbs, we can create lifestyle precincts that add value to locals and visitors as well as our own buyers," Mills says.

[smartcode_project:default project_id=13181 project_image_fid=256232]

Ben Baines from <a href="/project-marketer/colliers">Colliers</a> also highlighted the exceptional location of Wiltshire House.

"The location within&nbsp;<a href="/developments/richmond-vic-3121">Richmond</a>, along with the Activity Centre zone which permits retail, residential and commercial, is what really sets this site apart from others," Baines says.

[smartcode_project:default project_id=13181 project_image_fid=256236]

While ideally located around the corner from the&nbsp;cafes, restaurants and bars Richmond is famous for, Wiltshire House is also home to a number of resident amenity, including a&nbsp;and a landscaped rooftop with wellness facilities like a gym, yoga space, sauna, and showers.

There's also communal dining and entertaining spaces with city views.

[smartcode_project_cta:default project_id=13181]

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