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" />

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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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The Singapore-listed developer Chiwayland has bought into Sydney's western suburbs to develop an 11-hectare development site in Caddens, Penrith for $40 million. 
It is planning 400 apartments and 364 townhouses for the site close to a proposed high-speed rail linking to the second Sydney Airport.
Chiwayland's project will be released over several stages before 2020. 
It is the group's seventh property development project in Australia. 
Chiwayland follows Chinese heavyweight Poly (Australia) Real Estate's purchase of a three-hectare site at Werrington, another greenfield land prospect under the Western Sydney Priority Growth Area strategy. 
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Chiwayland buys at Caddens

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Two high density superlots in Sydney's northern suburb of Macquarie Park have been offered for sale as one package via an expressions of interest campaign through Colliers International.
UrbanGrowth NSW's  second stage land release at Lachlan’s Line also includes an affordable housing offering which must be purchased by a community housing provider, or a private developer in a joint venture or similar.
Bates Smart has prepared the concept design for around 172 apartments and the third site of 96 affordable housing apartments.
UrbanGrowth NSW head of Western Sydney Projects Matthew Beggs said the vision for Lachlan’s Line is to create a vibrant new residential neighbourhood and local destination with quality public domain and amenity. 
“Macquarie Park is considered one of the most sought after residential development locations in Sydney. Lachlan’s Line is ideally positioned to capitalise on opportunities such as transport, employment, education, and the high level of demand for quality residential apartments within the Macquarie Park area,” he said. 
“We are expecting strong interest from local and international developers who can demonstrate the capability to deliver outcomes in line with our vision for Lachlan’s Line.”
The Lachlan’s Line project was announced by the NSW Government in 2013 as part of the NSW Government’s North Ryde Station Precinct. The new contemporary urban village will provide approximately 2,700 homes for around 5,000 residents. 
For more information <a href="https://www.urbangrowth.nsw.gov.au/projects/lachlans-line-at-macquarie-park" target="_blank">click here</a>.
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UrbanGrowth NSW superlots on sale at Lachlan's Line

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Steve Wiltshire, executive chairman of HoldenCAPITAL, says the recent APRA bank regulatory balance sheet requirements will see the big banks lose interest in construction finance to most property developers.
"They will pick and chose who they deal with," he said.
"It will be less of a volume game," the experienced property investment banker said.
"This is a regulatory change that isn't going to go away.
"It is a bit of a game changer," he said.
"The banks will still continue to do construction finance.
"My own view on this is that they won't come back to dominate construction finance like they did following the gfc, where they were able to very much take the market over and really control where it was going," he said.
He said it was less profitable for the big banks compared to other products.
"The new requirements from a balance sheet prospective means property is no longer as attractive as it once was," he said.
It was suggested during episode one of <a href="https://www.holdencapital.com.au/podcast/" target="_blank">The Constructive Finance Podcast</a> when Dan Holden, at HoldenCAPITAL, spoke with Steve Wiltshire about his market views, opportunities and challenges he has faced and some advice/lessons learned thus far in his career.
The podcast will be released every fortnight on Tuesday and will feature an elite developer discussing these same topics.
The podcast will be available to stream from iTunes and via the HoldenCAPITAL website.
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Big banks will pick and choose property development financing: Steve Wiltshire

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A new shopping centre is slated to be built in Sydney's western suburb of Glenmore Park following the $7.22 million sale of a 2.11 hectare island site.
The property, 90-98 Glenmore Ridge Drive, Glenmore Park, is located in the heart of the Glenmore Ridge residential community development, is bound by Darug Avenue, Glenmore Ridge Drive, Glenholme Drive, and Deerubbin Drive. 
Mintus Properties Pty Ltd purchased the site from Lensworth Glenmore Park Limited, a subsidiary of Stockland Development Pty Limited.
NSW director of retail investment services at Colliers International, James Wilson, said the surrounding master planned community has undergone a transformation from a new suburb into a developing community with this neighbourhood development delivering the retail component of the original vision for the precinct.
“The increasing lack of supply for quality neighbourhood centre sites in greater Sydney shows no signs of slowing down, given the sharp yield compression experienced over the past two years for completed investments," he said.
 “The uplift in value for neighbourhood sites and shopping centres can also be attributed to the high levels of capital we are seeing from domestic and offshore investors combined with the low cost of debt in the current record low interest rate environment."
 
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Neighbourhood shopping centre site sells at Glenmore Park

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Tim Gurner's newly proposed apartment development at 156-162 Alfred Street, Brisbane, will now be developed in the next property boom.
The Melbourne developer had just received approval for a $140 million apartment project in Brisbane's Fortitude Valley, but says he will now wait for the next cycle to develop. 
"There is no doubt that the Brisbane market has slowed in recent months," he told the Australian Financial Review.
"Developer funding challenges and increasing construction costs have made the environment increasingly difficult to get new projects off the ground in Brisbane, but we are committed to Fortitude Valley and excited to launch this project in the next market cycle," Mr Gurner said.
His proposed 15-level building on Alfred Street, designed by Elenberg Fraser, would have provided 184 apartments.
Mr Gurner said that his financing was secure but he had known of several other projects where financing had been knocked back. 
"It is the escalation of construction prices in Brisbane in the past 12-18 months that will pose more of an issue," Mr Gurner said.
"Projects that weren't fully pre-sold last year are now not viable given the recent spike in construction costs, which is incredibly shortsighted as this will only hurt builders and trades in the following 12-36 months when there won't be any new projects to commence construction," he said.
Construction on his $600 million FV project proceeds elsewhere in Fortitude Valley, at Brunswick Street, Alfred Street and Barry Parade, in what was Gurner's first foray interstate.
The project, also been designed by architects Elenberg Fraser, secured strong sales after its late 2014 launch.
Dubbed by the Melbourne Age newspaper as "gym owner turned blue-collar then white-collar property developer," Gurner is speculated to have sold a major development site in Footscray.
The 1 Warde Street site covers 2170 sq m with a permit for towers rising 26 levels and containing 388 dwellings atop a commercial component.
Set within the state government's Joseph Road urban renewal precinct, The Age advised the recent sale price has not yet been disclosed by CBRE's Mark Wizel.
More than $10 million had been sought.
Tim Gurner was among a group of young property developers who burst onto the recent BRW Rich 200 list this year.
He was the list's youngest debutant, aged only 34 and with an estimated $460 million fortune. 
Gurner is concentrating mainly on Melbourne but has in the past month settled on two sites in Sydney. 
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Tim Gurner calls halt to new Fortitude Valley, Brisbane project

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Australia’s popularity among international students is here to stay, with enrolments in higher education courses with student visas growing by 9 .7 percent from 2014 to 2015, according to the 2016 Australian Student Accommodation Market Report from Savills international.
The undersupply of Purpose Built Student Accommodation (PBSA) in many capital cities, high occupancy levels for stabilised operational properties, robust revenue growth and attractive yield pricing in comparison to the globally established student accommodation markets, all contribute to student accommodation being an attractive investment, says the report.
There are currently 67,695 beds of PBSA in the eight Australian capital cities. All cities have an existing supply of less than 12 percent per full-time student with the exception of Canberra (27.8 percent), but compared to the existing supply and proposed pipeline in several UK cities, all of the Australian cities supply are at low levels.
Melbourne and Brisbane have the largest development pipelines of 9,651 beds (4 percent FT students) and 8,930 beds (6 percent FT students) respectively, but Sydney has a limited pipeline in place over the next four years with a total pipeline of 3,665 beds (2 percent FT students).
Also evident is the extent of pipeline supply across the UK cities, including substantial pipelines in Durham and Liverpool where the existing supply equates to over 40 percent of full-time students.
Savills research indicates that more than $2 billion has been invested into development projects across Australia since the start of 2015. The following chart provides a summary of the existing supply of PBSA and the proposed development pipeline in each of Australia’s capital cities and a selection of UK cities, with the cities sorted by the total provision of accommodation including pipeline.
<a href="/images/2016/06/22/Screen%20Shot%202016-06-23%20at%201.10.54%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/22/Screen%20Shot%202016-06-23%20at%201.10.54%20PM.png" alt="">
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Australian pipeline for student housing development: Savills

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The South Australian state government's decision to extend stamp duty concessions for off the plan apartments in the 2016-2017 State Budget has been warmly welcomed by the local development sector.
Pat Gerace, executive director of the SA branch of the Urban Development Institute of Australia said the UDIA has been urging the Government to continue stamp duty concessions for off-the-plan apartments, which will now be extended by 12 months until June 30 next year and include off-the-plan apartment properties across the state.
“These stamp duty concessions will make apartment properties more affordable and help more homebuyers into the market. Importantly, it will also allow more choice for those who are downsizing or trying to get into the market but don’t want to live in the city,” he said.
"We also requested the Government remove land tax on undeveloped residential land, which would reduce the land tax impost that is ultimately applied to pricing when the land is eventually ready for purchase by homebuyers. 
"The Government also needs to provide funding to establish proposed infrastructure schemes and an e-planning system by mid-2018 – as outlined in the recently passed Planning, Development and Infrastructure Bill 2015. There’s been good progress in recent times to reform the state’s planning system, so it’s important the Government provides the necessary funding to establish new initiatives such as infrastructure schemes and an e-planning system to help unlock new investment and generate economic growth."
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SA extend tax concessions for off the plan apartment buyers

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EG Funds' residential development, The Flour Mill of Summer Hill is set for its next stage launch.
The Malthouse release in the new master-planned community located on the heritage Flour Mill industrial site in Summer Hill has its display suite officially opening this weekend. 
The earlier stages are now sold out primarily to local buyers.
The Flour Mill of Summer Hill development is a joint venture by EG and Daiwa House.
Dr Michael Easson, executive chairman of EG inspected the display suite ahead of the launch with Grant Flannigan, from EG, confirming settlement for stage 1 of the Flour Mill will occur in February 2017.
Designed by architects, HASSELL, Summer Hill’s newest residential community and retail hub began construction in early 2015.
The next stages will have 233 apartments - studios, one, two and three bedroom apartments located in the Flour Mill’s existing silos.
The prices and sizes of apartments (square metres internally) range from 1 bedroom 55 m2 internally $710,000 - $735,000; 2 bedroom 71-90 m2 internally $840,000 - $1,110,000 and the 3 bedrooms 89-125 m2 internally $1,120,000 - $1,635,000. 
HASSELL has taken its cues from the Flour Mill’s landmark silos to echo the site’s industrial proportions, retaining the remarkable heritage and form and redefining the structures to revitalise this beloved monument to the city’s rich industrial heritage.
The three vertical layers of the nine-storey Malthouse work in unison to celebrate the building’s industrial heritage. 
A central vertical cut-out creates a 20-metre high void in the lobby while horizontal cut outs on each level form a spinal corridor open at the northern and southern ends.
Each apartment has been cleverly designed to bring the outside in – balconies and windows have been carefully placed to provide an interesting outlook from every aspect while maximising natural light and airflow.
The four circular towers of the original wheat silos, dubbed the Durum Silos now form 56 contemporary apartments across 14 storeys, at the peak of which sit two penthouse apartments with roof terraces enjoying spectacular 360 degree views.
The Granary has been converted to one and two bedroom apartments that mimic the scale of the original buildings on this site.
Housing 27 two and three bedroom apartments, The Wheatstore’s triangular structure stands out as the only design within the Flour Mill that started from scratch.
EG’s Development Manager Raja Jamal says a key focus of the development was on community and connectivity.
“We have integrated a communal public park featuring existing mature avenues of brushbox and a new retail precinct which includes cafés, restaurants and retail offerings to complement Summer Hill’s existing village atmosphere,” said Mr Jamal.
Colliers agent Ian Bennett said the majority of initial buyers were locals looking to buy a piece of the area’s history, with investors and first home buyers looking at the 1 and 2 bedroom apartments due to the connectivity with the light rail, train station and bus services flanking the development. 
For more information, <a href="https://summerhillflourmill.com.au/" target="_blank">click here</a>.
 
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More Flour Mill, Summer Hill silo apartments for sale

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
By itself, concrete is a very durable construction material. The magnificent Pantheon in Rome, the world’s largest unreinforced concrete dome, is in excellent condition after nearly 1,900 years. And yet many concrete structures from last century – bridges, highways and buildings – are crumbling. Many concrete structures built this century will be obsolete before its end.
Given the survival of ancient structures, this may seem curious. The critical difference is the modern use of steel reinforcement, known as rebar, concealed within the concrete. Steel is made mainly of iron, and one of iron’s unalterable properties is that it rusts. This ruins the durability of concrete structures in ways that are difficult to detect and costly to repair.
While repair may be justified to preserve the architectural legacy of iconic 20th-century buildings, such as those designed by reinforced concrete users like Frank Lloyd Wright, it is questionable whether this will be affordable or desirable for the vast majority of structures. The writer Robert Courland, in his book Concrete Planet, estimates that repair and rebuilding costs of concrete infrastructure, just in the United States, will be in the trillions of dollars – to be paid by future generations.
Steel reinforcement was a dramatic innovation of the 19th century. The steel bars add strength, allowing the creation of long, cantilevered structures and thinner, less-supported slabs. It speeds up construction times, because less concrete is required to pour such slabs.
These qualities, pushed by assertive and sometimes duplicitous promotion by the concrete industry in the early 20th century, led to its massive popularity.
Reinforced concrete competes against more durable building technologies, like steel frame or traditional bricks and mortar. Around the world, it has replaced environmentally sensitive, low-carbon options like mud brick and rammed earth – historical practices that may also be more durable.
Early 20th-century engineers thought reinforced concrete structures would last a very long time – perhaps 1,000 years. In reality, their life span is more like 50-100 years, and sometimes less. Building codes and policies generally require buildings to survive for several decades, but deterioration can begin in as little as 10 years.
Many engineers and architects point to the natural affinities between steel and concrete: they have similar thermal expansion characteristics, and concrete’s alkalinity can help to inhibit rust. But there is still a lack of knowledge about their composite qualities – for example, in regard to sun-exposure-related changes in temperature.
The many alternative materials for concrete reinforcement – such as stainless steel, aluminium bronze and fibre-polymer composites – are not yet widely used. The affordability of plain steel reinforcement is attractive to developers. But many planners and developers fail to consider the extended costs of maintenance, repair or replacement. 
There are technologies that can address the problem of steel corrosion, such as cathodic protection, in which the entire structure is connected to a rust-inhibiting electric current. There are also interesting new methods to monitor corrosion, by electrical or acoustic means.
Another option is to treat the concrete with a rust-inhibiting compound, although these can be toxic and inappropriate for buildings. There are several new non-toxic inhibitors, including compounds extracted from bamboo and bacterially derived “biomolecules”.
Fundamentally, however, none of these developments can resolve the inherent problem that putting steel inside concrete ruins its potentially great durability.
<h2>The environmental costs of rebuilding</h2>
This has serious repercussions for the planet. Concrete is the third-largest contributor to carbon dioxide emissions, after automobiles and coal-fuelled power plants. Cement manufacturing alone is responsible for roughly 5 percent of global CO₂ emissions. Concrete also makes up the largest proportion of construction and demolition waste, and represents about a third of all landfill waste.
Recycling concrete is difficult and expensive, reduces its strength and may catalyse chemical reactions that speed up decay. The world needs to reduce its concrete production, but this will not be possible without building longer-lasting structures.
In a recent paper, I suggest that the widespread acceptance of reinforced concrete may be the expression of a traditional, dominant and ultimately destructive view of matter as inert. But reinforced concrete is not really inert.
Concrete is commonly perceived as a stone-like, monolithic and homogeneous material. In fact, it is a complex mix of cooked limestone, clay-like materials and a wide variety of rock or sandy aggregates. Limestone itself is a sedimentary rock composed of shells and coral, whose formation is influenced by many biological, geological and climatological factors.
This means that concrete structures, for all their stone-like superficial qualities, are actually made of the skeletons of sea creatures ground up with rock. It takes millions upon millions of years for these sea creatures to live, die and form into limestone. This timescale contrasts starkly with the life spans of contemporary buildings.
Steel is often perceived to be inert and resilient too. Terms such as “Iron Age” suggest an ancient durability, although Iron Age artefacts are comparatively rare precisely because they rust. If construction steel is visible, it can be maintained – for instance, when the Sydney Harbour Bridge is repeatedly painted and repainted.
However, when embedded in concrete, steel is hidden but secretly active. Moisture entering through thousands of tiny cracks creates an electrochemical reaction. One end of the rebar becomes an anode and the other a cathode, forming a “battery” that powers the transformation of iron into rust. Rust can expand the rebar up to four times its size, enlarging cracks and forcing the concrete to fracture apart in a process called spalling, more widely known as “concrete cancer”. 
I suggest that we need to change our thinking, to recognise concrete and steel as vibrant and active materials. This is not a case of changing any facts, but rather of re-orientating how we understand and act on those facts. Avoiding waste, pollution and needless rebuilding will require thinking well beyond disciplinary conceptions of time, and this is especially true for the building and construction industries.
The collapsed civilisations of the past show us the consequences of short-term thinking. We should focus on building structures that stand the test of time – lest we end up with hulking, derelict artefacts that are no more fit for their original purpose than the statues of Easter Island.
Guy Ceulemans is associate lecturer, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/guy-keulemans-182421" target="_blank">here</a>.
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The rust problem with reinforced concrete

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The Gold Coast City development CityVillage has secured an $185 million sell-out.
Some 201 terrace homes have sold at CityVillage for an average of $550,000 since its launch to the market in late 2013.
The final terrace home sold off-the-plan last week for $569,000 to a local owner-occupier.
The dual tower Bohème Apartments, which is more than 80 per cent sold, now represents the final opportunity to secure a place in the sought-after CityVillage community.
The Robina Group sales manager Azura Griffen said CityVillage had been one of the developer's most successful projects in its 36-year history, with one stage of terrace homes selling out in just 48 hours.
CityVillage was recently recognised at the prestigious Urban Development Institute of Australia (UDIA) awards as the top medium density development in Queensland and was a finalist nation-wide.
It offered terrace housing on individual titles.
Griffen advised low vacancy rates and high rental demand had made Robina one of the city's most in-demand suburbs.
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