Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Residential Development

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SPONSORED POST
If you’re lucky enough to own a homesite close to Perth’s inner city, chances are you could be looking at developing on narrow lots.
<a href="https://www.summitprojects.com.au/developments-perth/townhouse/" target="_blank" title="Narrow Lot Townhouses" data-id="1148">Narrow lot subdivisions</a> are becoming increasingly popular as they enable multiple residences on a homesite. Narrow lots can have widths as low as 8-9m, maximising space while giving each home its own street frontage.
As a result, more and more narrow lot builders (Perth-based) are coming onto the market, each with their own <a href="https://www.summitprojects.com.au/developments-perth/townhouse/" target="_blank" title="Narrow Lot Townhouses" data-id="1148">catalogue of designs</a>. Yet how do you spot a really smart narrow lot design that intuitively maximises space and style, boosting your return on investment? This checklist can help.
Narrow doesn’t need to be narrow.
A narrow lot home design should defy its narrow footprint, not confirm it. A poor narrow lot home design can result in potential buyers or tenants feeling like they are walking into a tunnel. Incorporating voids above the entrance, extra high ceilings and clever lighting can be used to create a welcoming sense of space and openness.
Light = space. 
Narrow lot homes are often two-storey and positioned very closely together which can result in dark, unappealing living spaces within each home due to lack of light penetration. Quite simply, natural light instantly makes a space feel roomier and more inviting, so make sure your narrow lot builders integrate efficient solar passive principles for this very reason.
Open up your options
Open plan living continues to be popular in narrow lot home designs as it stops the home feeling ‘boxy’ and gives flexibility in regards to furnishings and layout, broadening the market appeal of the home. A smart open plan design should integrate the kitchen, dining, living and alfresco into one voluminous area.
Get in the zone
While maximising living space is essential, where that living space is positioned throughout the home is equally as important. Clever zoning and room layout will ensure that the narrow lot home is a pleasure to live in. A great idea to help create a more functional narrow lot home is to incorporate private retreats for parents and children and a distinct entertaining area.
All season alfresco
It’s often worthwhile paying a little extra to create an alfresco that is sheltered and comfortable enough to allow year-round entertaining. A well designed, quality alfresco looks fantastic and lets residents enjoy all available living space virtually every day of the year.
More in store
Ample storage space is important in any home, yet achieving it requires some clever thinking in a narrow lot home design. Ask your narrow lot builders how they maximise storage space. For example, do they utilise the area under the stairs?
Stepping out upstairs
It sounds simple, but a well-sized balcony looks great, captures any views and adds to the space and appeal of your investment property. If a balcony fits into your budget, it is well worth considering.
Nooks and crannies
Those little nooks throughout a narrow lot home design should be put to good use. For example, a well-positioned study nook can replace the need for a dedicated study room, adding to the number of bedrooms in the home and hence optimising your <a href="https://www.summitprojects.com.au/finance/" target="_blank" title="Finance" data-id="1084">return on investment</a>.
No two narrow lots are created equal so crafting an intelligent and attractive narrow lot home design is a specialist skill.
If you’re ready to <a href="https://www.summitprojects.com.au/developments-perth/" target="_blank" title="Develop your land" data-id="1076">subdivide and build</a> on your narrow lot, speak to Summit Projects. Not only will they project manage the entire subdivision process for you, they have a leading range of narrow lot home designs (including two storey narrow lot homes) that are sure to optimise your final profit margin.
<a href="https://www.summitprojects.com.au/contact-us/" target="_blank" title="Contact us" data-id="1079">Contact the narrow block developers</a> (Perth) at Summit Projects today.
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jchancellor-FAypfDUnLy

Eight clever yet essential design traits for narrow lot developments: Summit Projects

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The Hills of Carmel, a 2,000 lot sub-division spread across 223 hectares in the newly rezoned Box Hill, has sold out its first stage faster than expected.
More than 115 housing blocks have been sold to home buyers since the $1.3 billion site launched in mid-May, prompting an early release of the next 16 hectares of untouched land.
The next release is made up of 180 blocks which will start at $420,000 for 300 sqm.
Additional lots will be available consisting of 375 sqm, 450 sqm and 550 sqm.
The vast land, once owned by Governor William Bligh in the 1800s, is five minutes from the soon to be completed Metro line at Rouse Hill.
It will form part of a community which will feature a new shopping centre, playing fields, schools and extensive outdoor space and bicycle paths.
Property development consultant for The Hills of Carmel Bob Welsh expects strong sales due to a continuing shortage of affordable housing for Sydney home buyers.
“The Hills of Carmel is the best accepted estate that I’ve worked on in more than 50 years of property development – showing us that not only is there great confidence in this market, but that this development presents a unique opportunity to buy in early to the only master-planned community in the soon to be developed Box Hill,” he said.
Bob said the first release sold twice as fast as expected.
According to Welsh, the Hills of Carmel is also the only land in the Box Hill release area with all services currently enabled on site, and with housing construction ready to commence in mid 2017, will be the first to develop in the release area, acting as a path breaker for all future developments.  
The first buyers in The Hills of Carmel are made up of first and second home buyers, young families and major builders like Icon, Masterton and Eden Brae who will be creating house and land packages. 
Overall, the development is expected to create thousands of new jobs, while injecting an estimated $700 Million into the local economy.
The Department of Planning expects the new suburb of Box Hill to take shape over the coming five years, and to advance significantly over the next two decades to eventually comprise of 9,600 dwellings and population of more than 28,000 people.
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j.ballantyne1990-6AQqhLzZaK

First release of $1.3 billion of rezoned Box Hill land sells out ahead of schedule

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GUEST OBSERVER
The announcement by NSW Planning Minister Rob Stokes that plans have been made for Wilton New Town and that the boundaries of the Greater Macarthur Priority Growth Area are to be extended is good news for managing Sydney’s growth.
Sydney’s growth needs new greenfield development as well as inner-city urban renewal.
A number of Urban Taskforce members are developing sites in the Wilton and Macarthur areas and they will be encouraged by the government’s announcement of the expanded growth area.
The go-ahead for Wilton New Town will give a focus to development in the area and ensure that jobs are able to be located in the region. The extension of the growth area boundaries to include the land release areas of Menangle Park and Mt Gilead will ensure an ongoing supply of new housing sites.
Care will need to be taken about the cost of levies that contribute to the funding of infrastructure to ensure that the levy costs do not over inflate the cost of new homes. Clearly contributions will be needed towards necessary infrastructure but Government also has a role to ensure timely delivery of this infrastructure.
As Sydney grows from a city of 5 million to 8 million over the next 40 years the boom in inner city apartment buildings must be balanced by medium density dwellings and by houses built on green field sites like the Greater Macarthur Priority Growth Area.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Greater Macarthur Priority Growth Area plans important for Sydney’s growth

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GUEST OBSERVER
Subdivisions are the alluring sirens of the investment world.
There's a blunt logic to the concept that seems unshakable. Which is... If you've got a massive plot of land, dividing it up into two plots will instantly make you money, won't it?
Whether you’re a home owner looking to make extra capital from your oversized property or an investor subdivision certainly seems attractive. 
Especially, if you do it smartly and thoughtfully. With careful research, you can enjoy great capital growth with a booming yearly rental income. It's a wonderful, tantalising prospect.
Is this the best use of your time and resources? What is your skill set?
Yet, like most investment options, if not done carefully, it can also go horribly wrong. 
Here are some of the things you'll need to consider: 
Council regulations and permissions: All councils have very definite rules on subdivisions, so you need to find out your local environment plan and zoning rules. Many councils will have a minimum land size the property needs to be before they'll allow the development. You may also find that you’re limited as to what you can actually build. They will usually have a rule about car access and parking for both dwellings. There may be a certain amount of land that has to be left as open space (to prevent two houses sitting on top of each other).
There may be restrictions on the height of the dwellings or how close they are to the boundary. And expect that there will be rules about the impact of your proposed subdivision to the neighbours. All this means you need to do meticulous research. It's certainly a good idea to use a solicitor or legal expert to drill down through the fine print.
Building costs: Make sure you get a number of quotes from builders and architects, with the caveat that these costs can often balloon out. Ideally find a builder and architect through referral on a similar project so you know what to expect in terms of time and money. Architects can be expensive if you’re not designing it yourself. Another option is to use a draftsman, who’ll be cheaper, but maybe not ideal if the development is very complex.
The more organized and prepared you are about what you want, the less likely it is that the timeline and budget will go out of control. And think about who will project manage the subdivision? It’s expensive to hire someone but very time consuming to take it on yourself.
 
Consider the aesthetics: It's not enough to merely subdivide. You have to consider what the final dwellings will look like. If they're not appealing to a majority of renters then you've wasted your time. Common mistakes include: blocks with bad subdivisions where two houses are sitting on top each other. Or houses where there's little privacy and the occupants can see into the other's windows.
Or simply, unattractive houses that are cheap to manufacture but hardly anyone would want to live in. A badly designed subdivision will have the result of devaluing your entire property. This is where experienced designers and professionals come in. DPN's acclaimed CASA Allegra project home is a good example of well-designed home suitable for subdivision, that are economical yet aesthetically pleasing. 
Is subdivision economically practical?: In other words, consider whether the area is growing enough to sustain dual rental incomes off the one property. If you’re in a solid growth district which has good infrastructure, a strong local economy and an influx of people coming from outside the area, then there’s a clear path ahead. You also need to know what are the future plans for the area. For instance, if the area is about to be heavily developed with lots of apartment blocks and townhouses this will soak up a lot of the rental demand.
It could even lead to oversupply. Suddenly you’ll be competing with many other rental properties. This could then impact on your rental yields, even driving them downwards. So both present and future research into the plans for the area are critical. Remember, you don’t want your properties sitting vacant for long periods so there needs to be a strong pool of renters and high demand. Also do your sums and ensure that the rental yield from the subdivided property works out for your budget.
Finally, budget out the cost of subdivision in complete detail. It may not always be economically advantageous to subdivide if, for instance, the property isn’t all that big; there are lots of complications with the council or the land and the cost is on the high end. 
Hidden costs that you may not have thought of have will impact heavily on your budget: These can be things like contribution fees from local councils. Councils impose these on developers towards the cost of providing local services or facilities because of the effects of the planned developments. For example, if more water or sewerage is needed, because there’s an increase in the number of lots/ houses.
Or it can be deemed necessary if your new developments create extra water run-off, which in turn impacts the environment or flooding. In which case you, as the owner, may be up for having to pay for additional reports and research.
This council contribution fee is commonly known as a section 94 or a section 94A. This fee can be quite hefty depending on the council and the amount of extra infrastructure needed. Alternately there may be extra environmental issues that arise from your subdivision (for example, if they threaten an animal or plant species or impact the soil). And never rule out the possibility of a neighbor strongly objecting to the subdivision and issuing a legal challenge. 
Ask yourself – is this the best use of your time and resources? What is your skill set? Is this too arduous to take on yourself – remember that you’re managing a formidable and costly project. 
In which case, consider chatting to DPN about much less stressful and positively geared property investment options. We’ll arrange everything for you! 
Instead of subdividing, you may opt for a granny flat if your goal is simply to add rental yield to your existing property If this is the first time you’re dipping your toes into the water of subdivision and looks very complicated, you may be better off simply selling the property to a developer. 
If you’re determined to go ahead with subdivision, then ensure that you can afford it and you’re not sinking funds into a black hole. Also, make sure that what you’re putting on the property is really value for money. In other words: ask questions and make sure all your choices are backed up with research and what you can afford.
SAM KHALIL is founder and director of <a href="https://www.dpn.com.au/" target="_blank">Direct Property Network</a>.
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When should you subdivide? DPN's Sam Khalil

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A rare DA-approved residential site in Botany will go to auction in August 25 with a price guide of $10 million.
The site at <a href="https://www.realestate.com.au/property-other-nsw-botany-123164338" target="_blank">10-12 Morgan Street</a> comes with DA consent of a five-storey apartment block, with a mix of 34 one, two and three bedroom apartments.
There can also be basement parking with spaces for 58 cars.
The development could command a gross realisation of $30 million plus.
Tony Laing, listing agent and co-principal of Raine &amp; Horne Commercial Bondi Junction said it is certain to attract strong local and overseas developer interest.
“The real value in this site, which will go to public auction on Thursday 25 August, lies in the DA approval, and it’s expected the property could command a gross realisation of $30 million plus in off-the-plan sales for a developer."
Based on current property market conditions in Botany, Tony expects the 1-bedroom apartments will sell for between $650,000 and $700,000.
For a 2-bedroom apartment the expected price is $850,000- $925,000, while 3-bedroom apartments should fetch $1.1-$1.2 million.  
“We expect that once the apartments are ready to market, the development’s superb location will be a major selling point,” he said.
“The site is situated in a superb growth precinct in Botany, which is undergoing a major gentrification through a number of boutique residential developments, combined with the launch of more contemporary restaurants and alfresco cafes. 
“Botany now provides an affordable upmarket Eastern Suburbs lifestyle and is the logical next step for those priced out of the inner east.
“We expect the apartments will attract a young demographic, with a split of investors and owner-occupiers jockeying to buy into this rare residential opportunity.”
 
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Rare DA-approved site in Botany with $30 million plus potential to go under the hammer

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The month of June saw more than $6 million in residential sales in Brisbane's Ecco Ripley masterplanned community, a total of 19 transactions for house and land packages and land-only sales in the $500 million Sekisui House development in Ripley Valley.
Ecco Ripley state sales manager Scott Blaney said Ecco Ripley is already a thriving community with over 500 residents now living here or with their homes under construction. 
"Sekisui House expected sales to accelerate further with the first home buyer grant having risen to $20,000 on July 1," he said.
“It makes our already affordable, quality offering here at Ecco Ripley even more accessible and attractive for first-time buyers.
“The town centre will become the commercial and social hub of the region as all of the surrounding communities and developments will feed into it.
“It will offer a major regional shopping centre, a transit centre, health and education facilities, cafes, restaurants, parks and community facilities to cater for this region’s projected population of 120,000 people over the next 20 years.”
Buyers at Ecco Ripley presently can choose from duplex, Fit &amp; Finished homes, house and land packages and land-only options.
Land lots are currently available from $158,000 with house-and-land packages, including new duplexes available from  $325,000.
For more information <a href="https://www.eccoripley.com.au" target="_blank">click here</a> or contact 1800 RIPLEY (741 593) for more.
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$6 million in home sales on Ecco Ripley, the Brisbane valley project by Sekisui

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Mason, a brand new five storey residential building in Macgregor, 12 kilometres from the Brisbane CBD, has hit the market.
Comprising 27 one, two and three bedroom apartments, the units start from $359,000.
Designed by Tim Stewart Architects and developer by Brisbane based developer Position Developments, the building is set to enhance the streetscape with its smart exterior.
Position Developments development manager Marvin D'souza says Macgregor is a thriving urban location and is attracting a mix of young professionals and families.
"Young purchasers are tending to gravitate towards city fringe suburbs, with affordability, access to education facilities and public transport, employment, and local infrastructure proving to be key motivators," he said. 
"Price growth in higher density areas has left many inner city locations out of reach for young professionals, families and investors, which is pushing buyers towards more affordable suburbs. 
"With more than $1.4 billion of current and future local infrastructure investment, and a projected 11,000 jobs in the catchment by 2031, Macgregor represents a strong investment opportunity. 
"Mason gives buyers the chance to secure a brand new property in the mid $400,000’s without having to sacrifice dwelling space or proximity to local conveniences."
The apartments range between 64 sqm and 187 sqm and features open plan designs, full galley kitchens and a balcony or terrace area.
The three bedroom apartments offer large 87 sqm terrace with north-east aspect.
Mason also features shared recreational areas and a spacious rooftop terrace with views of Mt Gravatt.
Buyers can choose between two colour schemes, with stone benchtops, feature cabinetry with LED lighting, generous and cleverly concealed storage spaces and built-in wardrobes in each apartment. 
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New boutique apartments launched at Macgregor

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Developer Pointcorp sold out 50 percent of its residential development, Fabric in Brisbane's Teneriffe.
The weekend result saw the issuing of 35 contacts for a combined $23 million in sales.
"We were confident there is still a strong market in Brisbane for large quality apartments in exceptional locations and the weekend results confirm this," said Pointcorp director Godfrey Esmonde.
He noted the area has gone from being a heavy industrial region once dominated by heritage wool stores, warehouses and naval buildings to now undergoing a significant gentrification process with a modernised yet eclectic mix of heritage residences, dining and extensive commercial offerings.
"As one of the upcoming suburbs of the region, there’s a lot of promising commercial and residential activity occurring in the area.
Fabric is the only brand new development in the area, but takes inspiration from the patchwork of neighbouring wool stores and warehouses surrounding the area as well as NYC’s sleek loft conversions. 
"In a landmark position on the curve where the beauty of Florence Street meets the convenience of Commercial Road just 2.5 km from Brisbane’s CBD, Fabric’s architecture will be woven into Teneriffe’s vibrant social, creative, eclectic and cultural hub," he said.
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Pointcorp secures off the plan sales at Fabric in Teneriffe

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SPONSORED POST
Do you own a home on a large block of land in an area that's in high demand? You could be sitting on a gold mine and not even know it.
As Perth's population looks to maintain growth and demand for property in inner city locations seems to soar, your backyard could be the key to unlocking wealth.
More and more West Australians are taking advantage of zoning changes by swapping the hills hoist for a duplex development or triplex development investment.
Here's how it works. Say you've owned a house on an 800sqm block for five or 10 years. In that time you've partially paid down the mortgage, leaving you with some decent equity. You could borrow against this equity to fund a subdivision, which could occur in two ways:
<ol>
<li>Keep your existing home and build in the backyard</li>
<li>Demolish your existing home and develop the entire property.</li>
</ol>
Benefits of developing your backyard
As long as you conduct a careful feasibility study, developing your property can be a profitable venture.
Generate multiple rental incomes
By subdividing your property into a duplex development or triplex development, you'll have the potential to double or triple the earning ability of your land. You could live in the existing home while renting out the new home/s. And if rental returns are strong enough, you could be looking at a positively geared investment.
Maximises your land's value
Many homeowners value the lifestyle benefits of a large backyard. However, if you're willing to sacrifice some square meterage, you'll maximise the value of your land by releasing cash from an unused backyard – something you probably didn't factor in when originally buying the property.
Relatively low risk
It's simple maths really - one lot, multiple dwellings. Unlike a traditional single house development where you build one home on one lot, a duplex development or triplex development allows you to split the land cost between two or three dwellings. Of course, the cost of subdivision must be factored in, but when you consider that each new property you create could be valued almost as much as a similar sized dwelling on a larger block, it's easy to see where profits can be made.
Generate cash flow
Put simply, the more money coming in, the more you have to reinvest in other opportunities.
Opportunity to sell existing house
Many investors stay in the existing home when developing their backyard. However, you could potentially sell the existing house (often for close to the price you paid for the land and house originally), which could be free of capital gains tax. You could use this to pay off your mortgage or release much needed funds for another investment.
Can I develop my backyard?
If you want to maximise the development potential of your backyard, you'll need to first gain an understanding of the Residential Design Codes of Western Australia, commonly known as 'R-Codes'.
As a basic rule, R-Codes stipulate how many residential units are allowed to be developed on a 10,000sqm block of land. You can use this to work out the minimum size of a residential block. For example, a 1000sqm lot in an R20 zoning would allow you to subdivide into two blocks of 500sqm.
However, R-code rules shift all the time. For instance, in August 2013 the codes went through significant changes to cater for increased demand for housing. One change saw the R20 code change its average lot size to 450sqm (down from 500sqm), while the new R60 code now permits an average lot size of 150sqm (down from 180sqm).
It's crucial to stay on top of R-codes to ensure a successful backyard development.
Ready to see what lucrative opportunities are tied up in your backyard? Talk to Summit Projects. They specialise in subdivisions, from triplex developments, to duplex developments and strata developments (Perth).
That means they can help you work out the best way to maximise your site's potential, as well as navigate R-coding and council requirements.
For more information from Summit Projects, <a href="https://www.summitprojects.com.au" target="_blank">click here</a>. 
 
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Benefits of building an investment property in your backyard: Summit Projects

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China-based developers AUX Group has launched its first project to the Australian market, an $81 million apartment project named The Boulevard attached to the  Rouse Hill Town Centre.
The Boulevard features 152 one, two and three bedroom apartments apartments across two six and seven storey buildings
Prices for one-bedroom apartments range from $485,000 - $655,000, two-bedroom apartments are priced from $595,000 - $860,000 and three-bedroom apartments range from $855,000 - $920,000.
The Boulevard is designed by Metropoint Group Architects.
Aux Group purchased the sites from Rouse Hill Town Centre owner GPT in April 2015. AUX Group associate director Michael Wang said The Boulevard is the perfect debut for AUX Group in Australia as the development epitomises what we stand for: high quality apartments that offer connectivity and an easy lifestyle for residents."
The project is being jointly marketed through international firm Colliers International and local experts PRDnationwide Norwest.
The display suite for The Boulevard opens in late July. To register your interest, <a href="https://boulevardrousehill.com.au/" target="_blank">click here</a> or call 1800 826 273. 
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