Brisbane-based <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co Developments</a> has officially launched its $250million COMO apartment development in Varsity Lakes, while simultaneously commencing construction.&nbsp;

Building work is now underway at COMO following the appointment of <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a> as contractor to deliver the boutique development which will rise on a 2857 sqm site overlooking Lake Orr at 22 Lake Street.

When completed, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels located in the heart of Varsity Lakes.

[smartcode_project:default project_id=135546 project_image_fid=363515]

The project, which will sit alongside Bond University, will deliver a diverse array of apartment designs comprising one-, two- and three-bedroom residences that have already attracted interest from local and interstate investors as well as an array of owner occupiers looking to gain a foothold in the precinct.

Red &amp; Co, which has largely focused on the Brisbane market in recent years where it has delivered more than 500 apartments and townhouses across 26 projects, has designed COMO to combine tranquil, lakeside living with the vibrant urban convenience of the vibrant Varsity Lakes village.

“We’re thrilled to announce a start to construction of COMO in conjunction with the official launch of the project, our first for the Gold Coast,” said Red &amp; Co Director and Co-Founder David Laverty.

[smartcode_project:default project_id=135546 project_image_fid=363509]

“COMO is superbly positioned to capture the essence of the Varsity Lakes village lifestyle and its thriving café and dining precinct, while delivering a much-needed diverse supply of premium residences for the local market.

“Pre-launch inquiries have been strong among both local and interstate investors and owner-occupiers, including downsizers and upgraders who appreciate the value proposition that COMO represents.”

Prices at COMO start from $1,000,050.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the COMO development incorporates an extensive range of amenities for residents including a 25-metre rooftop lap pool, sundeck, barbecue and dining areas, as well as multiple rooftop pickleball and paddleball courts, a wellness and activity centre, gym, sauna, plunge baths and landscaped gardens.

“COMO presents a rare opportunity to secure a stylish, lifestyle-focused home in one of the Gold Coast’s most sought-after neighbourhoods,” added Laverty.

“The rooftop will be the epicentre of fun for residents with an array of amenities for residents that are quite unique for a boutique project such as this, all while offering spectacular vistas across the Gold Coast as far north as Southport and south to Burleigh.”

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&nbsp;

Red &amp; Co has chosen the Varsity Lakes site for its proximity to top-tier schools, major shopping hubs, such as Robina Town Centre and its CBD offering, as well as key Gold Coast transport links, including Varsity Lakes Train Station.

COMO will be located just a short walk to shops, cafes and restaurants in Varsity Lakes and just a 10-minute drive to the Burleigh Heads beachfront.

With construction currently underway, Red &amp; Co anticipates COMO will be completed in 2028.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co to launch debut Gold Coast development Como Varsity Lakes as construction commences

Longstanding Gold Coast developer Raptis has acquired a prime development site on Surf Parade for its next Broadbeach apartment project.

Progressing towards completion of <a href="https://www.apartments.com.au/new-apartments/the-sterling-broadbeach-6-8-george-avenue-broadbeach-qld-4218">The Sterling Broadbeach</a>, 90 apartments on nearby George Avenue, <a href="https://www.apartments.com.au/developers/raptis">Raptis</a>, led by second-generation family man Evan Raptis, has picked up a block on the corner of Surf Parade and First Avenue.

The site had been earmarked for a luxury apartment project with 33 full-floor apartments across a 37-storey tower. Raptis will go back to the drawing board and create a building more appropriate for the site. The development application will be lodged later this month.

Evan Raptis told Apartments.com.au the site ticks all the boxes.

"Broadbeach is a suburb we've developed several buildings over the years. Surf Parade ticks all the boxes for the type of apartment development we want to deliver."

Raptis had several pre-lodgement meetings with council to ensure they are aligned in the development.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="f0d58573-07a4-47a8-9f5e-fbf35fb03dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-05%20at%204.58.23%E2%80%AFPM.png?VersionId=iczZEd_4_o4UL0PHMPJGfy_q3tv96J5i" />

Surf Parade has emerged in recent years as one of the most popular streets in Broadbeach for development.

South East Queensland developer Mosaic Property Group kicked it off with Marella by Mosaic. Bassar Group sold out Infinity on the street, while for its&nbsp;first Gold Coast development, Polycell grabbed a Surf Parade site for <a href="https://www.apartments.com.au/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach-qld-4218">The Rochester</a>, which is nearly sold out.

Melbourne-based developer Hirsch &amp; Faigen recently launched its fourth Gold Coast project on the exclusive strip. The Eveleigh Broadbeach will have 100 apartments across a 31-storey building designed by Rothelowman.

GV Property Group site development specialists Antonio Mercuri and Luke Reaby, who both amalgamate sites and sell shovel-ready sites to developers up and down the Gold Coast, sold Surf Parade to Raptis.

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333359]

Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333362]

Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

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Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363369]

The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

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Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

[smartcode_project:default project_id=149670 project_image_fid=360966]

The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

[smartcode_project:default project_id=149670 project_image_fid=360975]

“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

[smartcode_project_cta:default project_id=149670]

Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

[smartcode_project:default project_id=136726 project_image_fid=362014]

There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

[smartcode_project:default project_id=136726 project_image_fid=362015]

Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

[smartcode_project:default project_id=136726 project_image_fid=362020]

The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

[smartcode_project_cta:default project_id=136726]

Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

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>

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[smartcode_project:default project_id=24323]

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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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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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