<a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a> has announced that its <a href="https://www.apartments.com.au/new-townhouses/lovedale-farm-1054-1184-wine-country-drive-lovedale-nsw-2325">Lovedale Farm</a> residential, resort and golf project has secured $24.6 million in sales in just three weeks since the opening of its display home, underscoring the appetite for premium lifestyle property in the Hunter Valley countryside.

The sales milestone has been driven by a diverse mix of buyers, including owner-occupiers and investors from Sydney, Newcastle and the local Hunter region, purchasing both land-only lots and house and land packages across the development.

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="e173edc9-e60e-4f19-a060-9dc4421a3233" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/LovedaleFarm_20250215-1.jpg?VersionId=1LY6CvOaD.Dzrt8tWpWxXtPyfchixNIo" />

&nbsp;

The result builds on the momentum generated at the display home opening on 22 March, which attracted more than 460 attendees.

With house and land pricing from $1.14 million, Lovedale Farm continues to attract strong interest from buyers seeking a premium lifestyle offering at a compelling price point. The development’s vision, a championship golf course, future epicurean village and access to the Hunter Valley’s celebrated wine country, has resonated with a broad buyer profile, from first-time investors to those looking to make the move and call the Hunter Valley home.

<img alt="Lovedale Farm records $21.4 million in sales in three weeks" data-entity-type="file" data-entity-uuid="b358e789-e1eb-40ed-8105-ed5c8297136f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--6.jpg?VersionId=6GUO8TNnxuELONrsM6n9imDB6oc82Bor" />

Jim Hunter, Managing Director of Capital Corporation said the response since opening the display home has been encouraging.

"To reach $24.6 million in sales in just three weeks speaks to the genuine demand for a lifestyle community of this calibre in the Hunter Valley," Hunter says.

"We’re seeing buyers from across the region and beyond, including investors who recognise the long-term value, and owner-occupiers who simply want to live somewhere truly special.

“Lovedale Farm is two decades in the making, and the market’s response is everything we hoped for. We’re excited to see these first buyers become part of the Lovedale Farm story from the very beginning."

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="54d985cf-2ac2-400b-ac02-4401f3421ac7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--5.jpg?VersionId=3866bPoqpLZsm.3ACg9EafAr1W3miC_f" />

&nbsp;

Spanning 240 hectares on Wine Country Drive in <a href="https://www.apartments.com.au/developments/lovedale-nsw-2325">Lovedale</a>, the $1 billion development is expected to deliver around 1,250 jobs during construction and inject more than $300 million into the local economy. The first 200 homes and championship 18-hole golf course are anticipated for completion in late 2027.

Capital Corporation has also lodged development plans for the Lovedale Farm clubhouse, set to become a vibrant hub for residents and the wider Hunter Valley community. Further releases are planned for later this year.

[smartcode_project_cta:default project_id=14476]

Joel Robinson

Lovedale Farm display home opening triggers $24.6 million in sales in three weeks

Prominent Malaysian developer <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a> has unveiled <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">Aura</a>, the next stage of its $3.5 billion Melbourne Square precinct in Southbank, continuing its push into wellness-led, amenity-rich apartment living.

The $800 million tower, planned for 7 Hoff Boulevard, will rise 67 storeys and deliver 673 apartments, with COX Architecture drawing on both Japanese design principles and Australia’s natural landscape to shape the building’s identity. A rectangular grid aesthetic defines the building’s exterior, with COX drawing design cues from New York high-rises and Tokyo’s skyline.

Aura builds on a growing trend in high-density living, where wellness is no longer an add-on but central to the product. The development is structured around four key pillars, combining calm, minimalist residences with layered communal spaces, landscaped gardens, and a suite of wellness amenities designed to support both physical and mental wellbeing.

[smartcode_project:default project_id=151921 project_image_fid=367465]

At the core of the project is what OSK describes as a vertical wellness ecosystem, a multi-level approach to amenity that integrates health, lifestyle, and social spaces throughout the building rather than confining them to a single level.

The main resident hub, the Aura Club on level seven, will include a pool, cold plunge, spa, gym, Pilates and yoga studios, alongside more lifestyle-driven inclusions like a golf simulator, music rooms, library, and work-from-home spaces. Above, a series of higher-level amenity zones, including the Meridian Club and Cumulus Club, introduce more refined, social and retreat-style environments, with private dining, lounges, and premium wellness spaces positioned to take advantage of city views.

[smartcode_project:default project_id=151921 project_image_fid=367467]

The residences themselves will largely include balconies, a key design move in a market increasingly focused on natural light, airflow, and connection to the outdoors. Views will extend across the CBD, the Arts Precinct, Royal Botanic Gardens, and beyond.

Aura also introduces approximately 1,600 sqm of retail across the lower levels, further activating the Melbourne Square precinct, which already includes Kennedy Park, a Woolworths, childcare, and a growing mix of hospitality operators.

[smartcode_project:default project_id=151921 project_image_fid=367474]

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after <a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>," says&nbsp;OSK Property CEO Chong Boon Woon.

“We have been very encouraged by the market’s response to the BLVD offering, and we know there is a strong demand for the level of amenity, service and design that the Melbourne Square precinct is known for.

“Complemented by work-from-home lounges for professionals, family friendly outdoor garden spaces, and state-of-the-art fitness and wellness facilities, Aura will continue our focus on maximising physical, emotional, and mental wellbeing,” he said.&nbsp;

[smartcode_project:default project_id=151921 project_image_fid=367475]

The project follows the strong performance of BLVD, which is now around 80 per cent sold, and reinforces OSK Property’s long-term commitment to Melbourne Square as a fully integrated, mixed-use precinct.

Construction is expected to commence in late 2026.

[smartcode_project_cta:default project_id=151921]

OSK unveils AURA, the latest stage in Southbank's $3.5 billion Melbourne Square precinct

National developer Time &amp; Place appears to have settled on a design for its long-anticipated Potts Point project.

After several years of back and forth with local council and the NSW Government, the developer, which has spent close to a decade targeting the former The Chimes site on Macleay Street, has now progressed its plans.

Following a concept design submission last year by SJB, Time &amp; Place has lodged a full State Significant Development Application with the NSW Government, this time for a scheme designed by Kerry Hill Architects.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="504d2a27-d65f-4227-8189-1e35e3376e62" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.38.24%E2%80%AFAM.png?VersionId=_XqFKATYHF30KnVByPxhaI9UBzmkmfn7" />

The 16-storey proposal includes 44 apartments, 21 of which will be build-to-sell. These will comprise 19 three-bedroom apartments and two four-bedroom penthouses.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 studio apartments to be delivered in line with the NSW Government’s Housing SEPP.

Kerry Hill Architects said the proposal is driven by a strong response to place.

“Our proposal for a new residential building for Potts Point in Sydney is driven by a deep consideration of place,” the practice said in its submission.

“This operates on multiple levels, including a landscape approach that reinstates endemic flora of the Sydney peninsula and provides a ground-floor garden for residents, reconnecting the site to its pre-European history. A brick podium further strengthens this relationship to context, integrating planting and fine bronze detailing that references the predominant material language of Macleay Street.”

The three-level podium will be topped by a communal resident space, featuring a covered pool designed to receive direct afternoon sun in winter, a neighbouring reflection pool, dining and event areas oriented to maximise sunset views, and an outdoor exercise zone.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="8d3eedc1-babb-44a3-bd96-d8a42f3adf1f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.37.48%E2%80%AFAM.png?VersionId=Ii7.4dvqNatu5GQi6bhqNjAswrMB998." />

The design also incorporates highly crafted shopfronts and a clearly defined residential entry to activate the street. Juliette balconies to the podium residences will provide passive surveillance and a strong sense of habitation.

Above, the larger apartments are housed within a light-coloured masonry and bronze tower.

“The tower steps back in a series of gently curved volumes that reference the rich Art Deco context of Macleay Street,” the architects said. “Carefully calibrated vertical fins frame the views while providing privacy and a sense of refuge.”

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="6fab60f4-3140-4469-b47a-48c781e0a30b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.28.44%E2%80%AFAM.png?VersionId=e5XxrM3kzdASdKlcIACHAHbOSZhSKC9O" />

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in South Melbourne.

The developer has approval for The Burke, a mixed-use project in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;being delivered in partnership with Woolworths. The 60 apartments, positioned above a new Woolworths supermarket, are expected to launch in the coming months. Time &amp; Place is also progressing plans for the redevelopment of&nbsp;<a href="https://www.apartments.com.au/developments/northcote-vic-3070">Northcote</a>&nbsp;Plaza, and have recently submitted plans for a <a href="https://www.apartments.com.au/news/vic/time-place-unveils-plans-22-storey-south-melbourne-tower">22-storey tower</a>, another in South Melbourne.

In&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw">Sydney</a>, the developer has two projects in Manly: Two Tides, which is currently under construction, and an ultra high-end building on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach. It is also continuing to work through the redevelopment of The Chimes building on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as Marlborough House, the redevelopment of the original David Jones warehouse building in&nbsp;<a href="https://www.apartments.com.au/developments/surry-hills-nsw-2010">Surry Hills</a>.

First look: Time & Place settles on design for The Chimes, Potts Point redevelopment

<a href="https://www.apartments.com.au/developers/develotek">Develotek</a> is joining the likes of TOGA, Deicorp, and One Global Capital, betting on a boom in Five Dock ahead of the 2032 mooted opening of the Five Dock Metro Station.

Develotek, which is currently developing Bianca on the Drummoyne waterfront and has plans approved for a tower in Chatswood, has filed a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/79-81-queens-road-five-dock-nsw-2046">two-building project in the evolving Kings Bay precinct</a>.

The buildings, one more boutique just five storeys and the other 26 storeys, will rise from an 3,158 sqm site across&nbsp;79–81 Queens Road and 2–8 Spencer Street, will home 134 one-, two-, and three-bedroom apartments, above ground-floor retail and five basement levels of parking.

A key component of the proposal is the inclusion of 15 per cent of residential floor space as in-fill affordable housing, unlocking additional height and density under the Housing SEPP.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="3ee31bf7-75ba-4bc5-b190-49885193219f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_2.png?VersionId=730UbrduuwK3C1sO28RHjiLPUPqXqjkh" />

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the scheme adopts a podium-and-tower configuration, with a five-storey street wall along Queens Road transitioning to a 26-storey tower set deeper into the site. The ground plane prioritises activation and permeability, with retail frontages and a new through-site link connecting Queens Road to Spencer Street.

At the upper levels, the tower façade has been conceived using a modular system to support prefabrication and reduce construction waste, while improving build efficiency. The splayed form draws on the geometry of surrounding industrial rooftops, reinterpreting the area’s heritage in a contemporary expression while also helping to reduce solar heat gain to east and west-facing apartments.

“This project aspires to transform a former industrial site into a connected, resilient and people-focused urban community, grounded in Country, shaped by history, and designed to enrich everyday life within the evolving Kings Bay Precinct,” said John Walsh, Principal at Plus Studio.

The proposal reflects the broader transformation of the Kings Bay Precinct under the Parramatta Road Corridor Urban Transformation Strategy, marking a shift from its industrial past to a higher-density, mixed-use urban neighbourhood.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="abde734c-1e31-4a97-a1d2-fa9bcf31c380" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/building%20podium.png?VersionId=fNUupP6u146yEytQT31kKVRxwtACgPpP" />

Develotek is emerging as an active participant in the state’s affordable housing-led uplift pathway. The developer recently secured approval for a 34-storey mixed-use tower in Chatswood, where it similarly leveraged the in-fill affordable housing provisions to increase scale and deliver a 101-unit scheme with dedicated affordable apartments.

Their entry into Five Dock places them alongside a growing list of developers targeting the suburb ahead of its anticipated transport uplift, with Sydney Metro set to extend into the area. Major players including TOGA, Deicorp, and One Global Capital are all progressing large-scale precinct-style developments nearby, collectively reshaping the low-rise industrial fabric into a higher-density mixed-use corridor.

The Five Dock site sits within the Kings Bay Precinct, a key renewal area under the Parramatta Road Corridor Urban Transformation Strategy, where planning controls support significant uplift tied to affordable housing delivery. The consolidated 3,158 sqm site is currently occupied by low-rise industrial uses, including warehouses and vehicle workshops, earmarked for transition.

First Look: Develotek joins in Five Dock apartment boom

Ascot’s Racecourse Road continues to be a hive of activity for Brisbane developers.

Following Fortis and GRAYA, which are both preparing new projects along the key strip connecting Kingsford Smith Drive and Eagle Farm Racecourse, local developer <a href="https://www.apartments.com.au/developers/skyhold">Skyhold</a> is the latest to lodge plans for its own development.

The group is proposing One One Two Residences, a boutique project comprising just seven apartments, named after its address at 112 Racecourse Road.

The proposal outlines a five-storey building on an 810 sqm site. The built form slightly exceeds the four-storey expectation under the neighbourhood plan, aligning instead with the emerging character of the strip. As the planning report notes, “the locality is characterised by a transition toward medium-rise residential development, with a number of recent developments… above the stipulated height limits.”

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="ec577631-8c51-4163-960e-e7b3a77d655b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot.png?VersionId=iAzQ46D4Uu1UqiS0mVnlcy9jeFKBpJIj" />

Designed by 111 with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/paul-bangay-garden-design">Paul Bangay Studio</a>, the scheme adopts a layered architectural approach with strong articulation and a subtropical response. Deep balconies, integrated planters, and a mix of masonry and textured finishes define the façade, while upper-level setbacks reduce perceived bulk. The architectural statement describes “a series of horizontally expressed layers, defined by deep balconies and a consistent robust material palette,” aimed at delivering a refined streetscape presence.

Apartments are configured as large-format residences, including multiple three-bedroom layouts and a full-floor penthouse, supported by ground-level parking. A rooftop terrace will provide communal amenities including a pool and landscaped recreation areas. The design prioritises privacy, natural ventilation, and greenery, with planting integrated across all levels to soften the building form and contribute to the public realm.

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="1e1219bd-b45a-4d7f-bbc7-7207d7b2fc94" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot%20entry.png?VersionId=JIoUOLMgQ5xWpEF0etEI3ffIoIVjD7gO" />

The proposal sits within the Racecourse Road precinct, a key mixed-use spine in Ascot that continues to attract renewed development interest.

Later this year national developer Fortis will launch its own boutique development, which, pending council approvals, will be 16 apartments designed by Koichi Takada Architects, just down the street.

“Racecourse Road is going through a massive revitalisation and we’re proud to be a part of that transformation,” said Fortis's QLD General Manager, Dan Boman.

Nearby, GRAYA is advancing its larger-scale The Gallery, a mixed-use shop-top housing project designed to act as a “catalytic project for Racecourse Road.”

First Look: Racecourse Road, Hamilton revitalization to continue as Skyhold joins the party

Sydney Development

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A plan to reinvent a section of Sydney’s unused harbour foreshore – with the historic White Bay Power Station as a centrepiece – has been launched by the NSW Government.

Minister for Planning and Public Spaces Rob Stokes said the draft Bays West Place Strategy aims to harness Sydney’s stunning “blue infrastructure” in the creation of a mixed-use precinct in the heart of the Eastern Harbour City.

Bays West will deliver a range of housing, including affordable housing, to support the jobs created in the precinct and the ongoing growth of the Eastern Harbour City.

“Bays West is so central and historically significant to Sydney that it is time to revitalise the area and make it a desirable place for people to live, work and visit,” Mr Stokes said.

“We have the chance to explore so many possibilities for this incredible location, such as extending the Sydney Harbour foreshore walk, creating a great new public space and repurposing the White Bay Power Station.

“With the vision of this strategy we can unlock the potential of this area as part of the innovation corridor, drawing new business and entertainment and cultural opportunities. The Government is putting a Metro station with the other big project for the Bays West rejuvenation being the urgent restorative works at the heritage-listed White Bay Power Station. The NSW Government is providing $14 million for the first phase of works on the site, which includes the investigation of structural integrity and safety as well as a program of critical repair and remediation works to begin later this year. Placemaking NSW Chief Executive Anita Mitchell said the building required urgent maintenance as the first of three stages expected to be completed in 2024. “As with all of our strategic plans, there will be thorough community and industry consultation as part of the process,” Mr Stokes said.

“This is a huge area – three and a half times the size of Barangaroo – so we are keen to listen to what people think of the plan and get feedback about how we can make Bays West even better.” The stretch of Country now known as Bays West has been known for millennia as Gari Gurad/ Nura (Saltwater Country) and Nattai Gurad/ Nura (Freshwater Country). Community consultation will include online seminars, face-to-face information sessions in the area and communication through advertising and letter-box drops. The draft Bays West Place Strategy is on exhibition from 22 March to 29 April, 2021. Further information is available at: https://www.planningportal.nsw.gov.au/bays-west

<h2>NSW properties on the market right now:</h2>

[smartcode_project:default project_id=7317]

[smartcode_project:default project_id=24323]

[smartcode_project:default project_id=32227]
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The first action for the Bays West rejuvenation is urgent restorative works at the heritage-listed White Bay Power Station

jchancellor

Bays West development to provide affordable housing

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A $1 billion curvaceous skyscraper at 60 Martin Place - that leans over the historic interwar-era St Stephens Church - has been completed.
Investa Commercial Property Fund (ICPF) and the co-owner Gwynvill Group (Gwynvill) developed the site.
The building was designed by Hassel and contains more than 40,000 square metres  of net lettable area. 
Norton Rose Fulbright, Mizuho Financial Group, Munich Re, Banco Chambers and Spaces are among the core tenants. 
The building will also home to a rooftop garden, as well as the new Toppi Martin Place restaurant on the street corner. 
The building has reached 100% practical completion of all digital assets (71,848 in total) within the 33-level building and the creation of a 'digital twin', driven by Willow and the lead contractor Lendlease.
Rather than an analogue asset register compiled offline, Investa will utilise a digital twin of their asset, i.e. a 'single source of truth'.
This digital twin records and validates all aspects of the building’s equipment, warranty information, operation and maintenance information within an intuitive 3D environment to drive more efficient depreciation planning in operations. 
The digital completion of a building this scale is of great significance, Investa claim.  
It says that previously facilities management teams would have spent months developing this information from scratch, resulting in a sub-standard digital record post-completion.
According to ICPF's group executive and head of commercial development, Mark Tait, the building is currently 80% leased. 
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wdavis-8cCN98p7xp

$1 billion curved skyscraper completed in Martin Place

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GUEST OBSERVATION
One of the biggest strategic planning challenges of our time in Australia is to re-imagine the Greater Sydney metropolis with more than one CBD.
My students in the capstone unit of the Master of Urbanism program at the University of Sydney have worked on preparing a strategic plan for a Central City CBD at the heart of the Greater Sydney Region. This work built on the Greater Sydney Region Plan proposed by the Greater Sydney Commission, aka <a href="https://www.greater.sydney/metropolis-of-three-cities" target="_blank">Our Greater Sydney 2056 – A Metropolis of Three Cities</a>.
<a href="https://images.theconversation.com/files/240952/original/file-20181017-17664-f4o3wt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240952/original/file-20181017-17664-f4o3wt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Figure 1. A Metropolis of Three Cities: the Greater Sydney Commission’s 2018 Greater Sydney Region Plan. Greater Sydney Commission
In this plan, the Sydney metropolitan region is re-imagined around three cities:
<ol>
<li>Eastern Harbour City – built around the current CBD</li>
<li>Central River City – built around a new CBD located in Greater Parramatta on the area currently known as Parramatta CBD and Westmead district</li>
<li>Western Parkland City – built around the growth expected around <a href="https://theconversation.com/western-sydney-aerotropolis-wont-build-itself-a-lot-is-riding-on-what-governments-do-97462" target="_blank">Western Sydney Airport</a>, Penrith, Campbelltown and Liverpool.</li>
</ol>
A key objective of the metropolitan plan is to rebalance economic and social opportunity toward Western Sydney and the Central River City, or “Central City”. The vision is for most residents to live within 30 minutes of their job, education, health facilities, and other services.
The first step to fulfil this bold vision is to understand how far Western Sydney is from having its own metropolitan CBD; and to assess how the Central City (in Greater Parramatta) measures up against the existing Sydney CBD, also known as the Harbour City.
How do the Central City and Harbour City compare?
<a href="https://images.theconversation.com/files/240953/original/file-20181017-17680-rfhpy9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240953/original/file-20181017-17680-rfhpy9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Figure 2. A snapshot of Central City versus Harbour City. Image: Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal, Kun Fan, Author provided
Currently, <a href="http://www.abs.gov.au/websitedbs/censushome.nsf/home/tablebuilder" target="_blank">2.6% of jobs in Greater Sydney are in Central City, compared to 14.5% located in the established Harbour City</a>. While the Harbour City has many more jobs, the proportion of workers in the health and public sectors is much higher in the Central City – due to the presence of Westmead health precinct. While health will remain important in the Central City’s future, employment opportunities in the financial, tech and legal sectors need to grow significantly if the Central City is to become the next metropolitan centre.
<a href="https://images.theconversation.com/files/240955/original/file-20181017-17674-19t3v6u.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240955/original/file-20181017-17674-19t3v6u.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Figure 3. Central City versus Harbour City: economic comparisons. Image: Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal, Kun Fan, Author provided
Harbour City offers significantly more regional and local connectivity than Central City. Currently, <a href="http://www.abs.gov.au/websitedbs/censushome.nsf/home/tablebuilder" target="_blank">70% of Harbour City workers commute to work by public transport and only 13.5% by private vehicle, compared to the Central City’s 30% and 55.65% respectively</a>.
 
<a href="https://images.theconversation.com/files/240956/original/file-20181017-17689-zzxn66.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240956/original/file-20181017-17689-zzxn66.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Figure 4. Central City versus Harbour City: connectivity comparisons. Image: Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal, Kun Fan, Author provided
With the number of trips to Central City predicted to triple or quadruple during morning peak periods from current levels to 2056, forecasts indicate that Central City’s travel-to-work mode split will remain the same. This would lead to increased road congestion, impacting the economy, liveability and sustainability.
To represent the depth of connectivity problems, Figure 5 shows how long it takes to get to and from the Central City. It assesses travel times between 16 strategic centres and the Central City during peak morning and afternoon periods and on the weekend, for commuters on public transport versus those on the roads.
<a href="https://images.theconversation.com/files/240963/original/file-20181017-17664-1w7haxt.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240963/original/file-20181017-17664-1w7haxt.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Figure 5. How long does it take to get to and from Central City? Image: Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal, Kun Fan, Author provided
The results show the public transport commuters’ travel time from most strategic centres is already greater than 30 minutes. Commute time on the roads varies, going over 30 minutes during the morning peak. Moving commuters around Greater Sydney using the road network <a href="http://www.sydney.org.au/wp-content/uploads/2015/10/CfS-Issues-Paper-12-A-Fork-in-the-Road-1.pdf">is only a temporary measure</a>, as it does not have the capacity to cope with any of the proposed growth.
 
<a href="https://images.theconversation.com/files/240958/original/file-20181017-17664-t6ssec.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240958/original/file-20181017-17664-t6ssec.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Figure 6: Central City versus Harbour City: housing, cultures and services. Image: Jamie van Geldermalsen, Kun Fan, Mile Ilija Barbaric, Rao Umair Afzaal, Anjani Rao Gandra, Nithila Rajave, Rachana Chandwani, Tamanna Sultana, Author provided
Central City is culturally diverse. More than 140 languages other than English are spoken at home, with more than 65% of people born overseas.
However, social infrastructure to support and celebrate this great diversity is lacking. Access to community facilities such as aged care, child care, schools and non-Christian places of worship are limited. Without investment, the social infrastructure deficit will only be amplified as the population increases.
Harbour City has 11 museums and seven cultural centres; the Central City does not have any museums and only two cultural centres.
The final word
These assessments, from economy, connectivity, and liveability perspectives suggest the Sydney metropolis has a very long and bumpy way to go before we can re-imagine it with more than one CBD. Visionary and bold decision-making, supported by significant investment, is required for the Central City to transition to a metropolitan centre.
<hr>
This article is inspired by the work of the students enrolled in the <a href="https://sydney.edu.au/courses/units-of-study/2018/arch/arch9093" target="_blank">Integrated Urbanism Studio</a> for the Master of Urbanism at the University of Sydney. I specifically would like to acknowledge the significant contributions made by Jamie van Geldermalsen, Mile Ilija Barbaric, Rao Umair Afzaal and Kun Fan.
Tooran Alizadeh, Senior Lecturer, Director of Urban Design, University of Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/re-imagining-sydney-with-3-cbds-how-far-off-is-a-parramatta-cbd-102197" target="_blank">original article</a>.
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Re-imagining Sydney with three CBDs: how far off is a Parramatta CBD?

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A top executive of one of Australia’s biggest home builders has warned of a growing land affordability crisis in Sydney.
Chief executive of MJH Group Andrew Helmers said while the cost of construction was rising at between 6-9% per annum, lot prices were rising at annual rates of 40-50%.
"We don't have a housing affordability crisis, we have a land affordability crisis,” Helmers told Fairfax Media.
"All the major tier one developers are continuing to lift their prices with each new land release. The slowdown in prices in Sydney has not been felt in the land market."
He said MJH completed 2716 housing starts in the 2017 financial year up from 2199 in fiscal 2016 making it the fastest-growing builder in the country.
The company builds homes in NSW, Queensland, the ACT and Tasmania under a number of brands including McDonald Jones, MOJO Homes, Wilson Homes and Hayman Homes.
He noted building product manufacturers were operating at 100% capacity.
The Newcastle-based company recently reported a big boost in revenue it accounts filed with the corporate regulator for the year to June.
They show that MJH Group – previously called McDonald Jones Homes – saw revenue up 48% to $621 million from home building and land sales.
Its after-tax profits were up 55% to around $16 million.
The company sold a 40% stake to Japan's Asahi Kasei Homes in August.
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Sydney lot prices rising 40-50% annually: MJH Group 

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Guest Observer
The recent release by the Greater Sydney Commission of its Draft Greater Sydney Region Plan included policies on affordable housing but these have been misinterpreted by media and by local councils.
Media reports on the Greater Sydney Commission’s (GSC) approach to affordable housing have taken the simplistic statement that ‘targets generally in the range of 5-10 per cent of new residential floor space are viable’ without reading the detailed parameters that the GSC included. 
Many councils have also assumed that around 5-10 per cent of residential floor space being provided free of charge to local councils as affordable housing is supported by the GSC.
The GSC’s Draft Greater Sydney Region Plan makes it very clear on pages 57, 58 and 59 that the affordable housing target of 5-10 percent would only be applied in defined future precincts, only be applied to increased residential floor space following rezoning, would be tested for financial viability and would take into account other development charges. 
The policy then goes on to stress that the viability test would be undertaken ‘In order not to hinder the supply outcomes being sought’ (p57) which means that any affordable housing levy should not be so high that it made new housing projects unviable and therefore led to less new homes being built.
The Urban Taskforce is keen to support approaches for the provision of affordable housing where there is an incentive to do this through uplift in density and at levels that do not diminish economic viability of projects.
Our concern however is that a number of councils across Metropolitan Sydney simply want to take 10 percent or more of apartments as free of charge from the developer without any compensation. The result of this approach will be to increase the purchase price of the remaining 90 per cent of new homes or to make the project unviable such that it will not proceed.
With councils and media only taking headline figures from the Draft Greater Sydney Region Plan there is an important leadership role for the GSC to ensure a viable long term strategy is implemented.
This leadership needs to include the much touted ‘collaboration’ role with Sydney councils so that they take on board the GSC’s approach to housing affordability that is viable and based only on floor space uplift.”
The Urban Taskforce, however, is concerned that the City of Parramatta Council has recently released a draft affordable housing policy that introduces excessive inclusionary zoning targets that do not reflect the approach taken by the GSC.
This seems very strange as the GSC is located in Parramatta and it is clearly championing the River City as Sydney’s second CBD and a major centre.
It will be interesting to see if the GSC makes a submission on the Parramatta Council approach.
We have gone into the details of the economic advice that Parramatta has used to justify viability of their approach and we believe there are many errors that would in fact make projects unviable.
A year ago the Urban Taskforce proposed to the NSW Government an approach that modified the state’s own Affordable Rental Housing State Environmental Planning Policy 2009 (ARHSEPP) such that all projects could get a 20 percent floor space uplift with this being used for affordable rental homes for a 10 year period.
We estimated that 40,000 new affordable homes could be delivered over 10 years. If Sydney wants significant numbers of new affordable homes to be delivered then local and state government will need to work with the developers who supply our housing stock rather than adding another tax and hope it will have no impact on overall supply.
The hot Sydney housing market is beginning to cool, housing approvals are dropping and care needs to be taken with regulatory levers to not drive viability down leading to lower housing production.
The Greater Sydney Commission needs to lead the policy approach rather than delegating this to the many councils across Sydney each wanting to outdo their neighbouring council by having the highest affordable housing levy.
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CHRIS JOHNSON is chief executive officer of property development industry group Urban Taskforce and can be <a href="https://www.urbantaskforce.com.au/?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">contacted here</a>.
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jrobinson-rf4aSBido9

Leadership needed from Greater Sydney Commission on affordable housing: Chris Johnson

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GUEST OBSERVER
The data recently released by the NSW Department of Planning’s Housing Monitor indicates a drop in housing approvals while completions remain strong.
Over the last six months Sydney annual housing approvals have dropped from 58,618 in February 2017 to 51,119 in August 2017 through a consistent monthly drop.
This represents a drop of 13% which demonstrates that the housing market is slowing down. There is clearly a time lag from slowing approvals to slowing housing completions but it would appear that a trend is underway.
Housing completions are still strong with 36,097 annual completions at August 2017 down slightly from April’s 37,575 completions. On a four year average the percentage of approvals that become completions is 59% which is a worrying number. The NSW government should undertake some research into the relatively low number of approvals that transition into the construction phase.
Housing projects are becoming more difficult through tighter lending policies by banks and proposed increases in levies for affordable housing by councils which are influencing feasibility and therefore reducing the number of projects seeking approvals.
With the NSW government emphasising that the best way to help with housing affordability is through high supply numbers the current slowdown is of concern. The recently released Greater Sydney Region Plan calls for affordable housing levies to only be applied to floor space uplift where this is viable but many councils are proposing to apply levies to existing floor space as outlined in their planning documents. The removal of the cap on local development contributions also creates significant concerns for developers.
While the August annual housing completions are strong at 36,097 this figure is below the average required every year for 20 years of 36,250. In boom times Sydney’s housing completions should be above the average required.
The current housing approvals for Sydney while being below what is needed are still very high compared to the decade average. The Urban Taskforce urges the NSW government to do all it can to keep housing approvals at a high level.
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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Sydney housing approvals showing signs of slowing down: Chris Johnson

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New research into 'mega site' purchases around Sydney - buys greater than $100 million - has found a total of 50 residential development site transactions since 2014.
The emerging trend, according to Charter Keck Cramer's national director Bennett Wulff, is underpinned by buoyant market conditions and supported by factors including state and local government planning initiatives as well as the increasing activity of offshore - particularly Chinese - developers with the appetite and capacity to deliver projects of such scale.
“Since 2014, a total of 50 residential development sites transacted throughout the Sydney metropolitan area at price points each exceeding $100M, equating to a cumulative land price of over $9.4B and an average site sale price of circa $189M” said Mr Wulff. 
"This far exceeds sales of similar sites within the other major east coast capital cities of Melbourne (7 equivalent site sales) and Brisbane (no such site sales) during the corresponding period."
The research notes Sydney has an undersupply of dwelling stock, exacerbated by a growing population. 
<a href="https://www.propertyobserver.com.au/images/2017/02/01/Screen%20Shot%202017-02-01%20at%209.44.20%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/01/Screen%20Shot%202017-02-01%20at%209.44.20%20AM.png" alt="">
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Sydney mega site sales trend ramps up since 2014

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GUEST OBSERVER
The revised Metropolitan Strategy for Sydney along with the six District Plans contains a 10 percent levy proposal on new housing to fund affordable housing and this could increase the cost of all new housing. 
While there is a lot of good work in the long awaited District Plans for Sydney there is an ominous proposal to add yet another levy onto new housing. 
The plans use a false logic that by requiring developers to provide up to 10 percent of new housing as affordable this will help with Sydney’s rapidly escalating house prices. Clearly the cost of giving away 10 percent of new homes will have to be distributed across the other 90 percent of new homes therefore forcing house prices up.
The Urban Taskforce has presented a better way to create even more affordable housing by allowing new projects an increased floor space of 20 percent provided it is for affordable housing. We estimate that this could provide 40,000 new affordable homes over the next 10 years.
The Greater Sydney Commission fact sheet is now targeting 189,100 new homes over 5 years which requires an average of 37,820 new homes a year. The highest number of new homes in recent years has been 30,000 last financial year so the most important task the Greater Sydney Commission has is to increase housing supply but by adding a new tax the opposite is likely to occur.
A Greater Sydney Commission Fact Sheet does suggest that the levy would be in areas where some floor space uplift would compensate for the levy but the approach to give away affordable homes under SEPP 70 rather than providing them as low cost rental for ten years as indicated in the Affordable Rental Housing SEPP will certainly impact of the feasibility of future housing development.
Sydney needs a plan to increase housing supply dramatically and to provide large numbers of affordable homes. The Urban Taskforce approach achieves both of these aims. 
The District Plans seem to be fairly general documents with little data on heights or density. There are broad jobs and housing targets but the real definition of built form would appear to be delegated to the development of Local Environmental Plans by councils. This could leave certainty in the planning system on hold for a few years particularly as elections for new amalgamated councils are a year off. The new data in the draft District Plans is likely to generate many planning proposals that want to vary existing controls.
We have a concern that the definitions of District and Strategic Centres now do not include residential accommodation. The Urban Taskforce supports mixed-use urban centres that are activated all the time rather than only being 9 to 5 work environments. With so much focus on providing transport infrastructure to major centres it is important that this investment supports a bustling 24/7 mixed use environment.
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The package of documents does not seem to address the issue of Value Capture that was recently raised by the Federal Government to help fund new infrastructure and this could become another tax on the cost of new homes.
The Urban Taskforce is keen to work with the Greater Sydney Commission to ensure housing supply is maximised and that quality mixed use urban centres can be achieved.
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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