<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

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&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market 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 <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

Joel Robinson

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

Sydney off the plan apartments

First home buyers have been drawn to Sekisui House Australia's ambitious $5 billion Melrose Park North development in Sydney's northwest.

Over 1,000 apartments have already sold in the 30-hectare community which will becomes its own mini suburb with around 5,000 homes, a town centre with retail and commercial tenancies, and expansive parklands.

Rhys Morgan, of Boston Project, who has been selling the project since its inception, expressed his enthusiasm about the appeal of Melrose Park North to first home buyers.

Around 60 per cent of the 1,000 sales have gone to first home buyers.

He emphasised that the latest stage, Melrose Park Village, caters to the evolving needs of young professionals, with features such as business workspaces, wellness facilities, and a generous internal private park.

"For young buyers looking to work from home more into the future, the latest stage, Melrose Park Village, has it all," Morgan said.

"There is a lot of strength in the apartment market, with limited stock, and many people, including first home buyers, still struggling to get into the market. Melrose Park Village offers an excellent option."

The project was launched with the award-winning One Melrose during a downturn in the apartment property market in 2017.

Since then, Melrose Park North has consistently garnered positive feedback from buyers, such as offering well-priced apartments with high-quality fit-outs and build, as well as for being a good investment options, with major government projects underway, and for its public transport connections and extensive recreational facilities and new Town Centre.&nbsp;

Sekisui House Australia's CEO for Apartment and Mixed-Use Developments, Hide Seguchi, expressed his delight at the overwhelming success of the project.

"One thousand apartments sold is a remarkable result&lt;" Seguchi said.

"This project really does epitomise the Sekisui House philosophy of building a well-designed and finished apartment but also a happy and healthy place to live."

Seguchi highlighted the large internal park as a standout feature of the latest stage, which unsurprisingly has been attracting strong sales from various buyers.

Over 1,000 apartments have already sold in the 30-hectare community which will becomes its own mini suburb with around 5,000 homes, a town centre with retail and commercial tenancies, and expansive parklands

alisonwarters@gmail.com

Sekisui House Australia's Melrose Park North attracts first home buyers in record numbers

Sekisui House Australia has topped out Lumia, their third stage of their Norwest masterplanned community, The Orchards.

Growthbuilt have been constructing Lumia,&nbsp;designed by Turner and home to 330 nature inspired apartments, having previously built the first two stages in The Orchards.

George Gesouras, Project Director, Apartment &amp; Mixed-Use Developments at Sekisui House Australia comments, said the strong relationship with Growthbuilt extends over a decade.

"During the past five years they have constructed two buildings within The Orchards community, working with us to complete 387 luxury apartments. The partnership is one of respecting the privilege of delivering an integral part of The Orchards and sharing a common goal to provide homes that last for generations.”

[smartcode_project:default project_id=111509 project_image_fid=189523]

Gesouras says in recent years Growthbuilt have&nbsp;endured several challenges including COVID, but have demonstrated resilience which has helped strengthen their partnership even further.

"Both companies strive for construction excellence and finding new innovative ways to deliver quality assets, aligning with our Japanese philosophy of producing sustainable high-quality built form.

Gesouras said prefabricated bathrooms were introduced to Lumia to improve speed, efficiency and to deliver a high-quality product with excellent results.

"Lumia’s unique architectural masterpiece, surrounded by natural assets – large trees, linear park and waterways continues to reach new heights. It has been a collaborative team effort to achieve the topping out milestone at Lumia."

More than 800 direct and indirect jobs have been created during Lumia's construction phase.

[smartcode_project:default project_id=111509 project_image_fid=191136]

The Orchards is located around 31 kilometres north-west of Sydney’s CBD. It is 800 metres from Norwest Metro Train Station and 600 metres from Norwest Marketown as well as Norwest Business Park - currently housing over 30,000 employees.&nbsp;

Lumia will feature an advanced energy generation system including solar power and efficient hot water infrastructure. Each apartment has been designed to take advantage of the district views and green outlook with large format windows and oversized balconies. Separation of active living and quiet sleeping zones, oversized kitchens, a variety of storage space, study alcoves and max rooms accentuate livability for residents.&nbsp;

A key feature of Lumia is the outdoor pool and pavilion. This pavilion is appointed with a collection of communal and intimate dining and lounge areas that overlook the pool and linear park. Embracing the natural setting, the pool and pavilion have been designed to embrace the organic forms found in nature. An infinity water edge, floating lounges and green landscaped roof further heighten the connection to nature.

Sekisui House Australia expects to welcome residents to Lumia in August 2024. Over 75 percent of apartments have already been sold in Lumia.

The masterplan, designed by Turner is spread across five stages. When completed, the community will comprise 1,300 apartments.

[smartcode_project_cta:default project_id=111509]

Growthbuilt have been constructing Lumia, designed by Turner and home to 330 nature inspired apartments, having previously built the first two stages in The Orchards

Staff Writer

Sekisui tops out Lumia apartments at The Orchards masterplan in Norwest

One Rose, the latest apartment development by 4.5 Gold Star iCIRT rated company DASCO, is offering a discounted deposit rate for prospective buyers.&nbsp;

Buyers at the Corona Avenue project of just 23 apartments won't have to pay a 20 or 10 per cent deposit to secure an apartment.&nbsp;They will only have to pay three per cent on exchange of contracts.

That puts the price for a deposit of the two-bedroom apartments from $43,500 and the three-bedroom apartments from $68,700. Buyers will then pay back in instalments weekly until the full deposit has been paid.

[smartcode_project:default project_id=113191 project_image_fid=217000]

Designed by Stanisic Architects, the two sculptural buildings have been curated to sit harmoniously within the historic and leafy suburb.&nbsp;Bold face brickwork pays homage to the surrounding classic architecture and respects the integrity of the streetscape, with vertical timber batten detailing adding privacy and a contemporary aesthetic.

The two and three-bedroom apartments feature landscaped alfresco spaces in the form of either a balcony or garden courtyard, while some residences will have built-in fireplaces and even a mini bar. For a limited time and for no extra cost, DASCO are also offering buyers the chance to upgrade the premium European appliances and integrated fridges to Gaggenau, one of the most premium appliance retailers in the country.&nbsp;

The communal areas at One Rose provide a tranquil atmosphere that encourages relaxation and retreat. A central garden, adorned with an established gum tree, serves as a shaded centrepiece and further enhances the natural beauty of the development.

[smartcode_project:default project_id=113191 project_image_fid=204907]

Two high-tech car lifts with smart queuing and double safety backup enhance the overall luxury of the development, with electric car charging facilities also implemented. A wellness retreat and a rooftop terrace with lifestyle facilities and a pergola-shaded barbecue area&nbsp;round out the amenity offering at One Rose.&nbsp;

Nestled on the border of Roseville village and the commercial hub of Chatswood, residents will be surrounded by some of&nbsp;Sydney’s most prestigious public and private schools, and shopping centres including Chatswood Westfield and Chatswood Chase.

[smartcode_project_cta:default project_id=113191]

Buyers at the Corona Avenue project of just 23 apartments won't have to pay a 20 or 10 per cent deposit to secure an apartment. They will only have to pay three per cent on exchange

DASCO offers cut price deposit offer at Roseville apartment development, One Rose

The first Budget by NSW Labor highlighted the critical need for housing in New South Wales, with a $2.2 billion Housing and Infrastructure Plan set out.

Minister for Planning and Public Spaces&nbsp;Paul Scully said housing affordability and availability is the biggest single pressure facing the people of New South Wales, with mortgage payments or rent the largest expense for most households.

"The Minns Labor Government is today outlining significant long-term reform in NSW to begin the task of confronting the housing crisis," Scully said.

The NSW Government’s Housing and Infrastructure Plan includes:

• $1.5 billion to build infrastructure such as roads, parks, hospitals and schools to support the construction of new homes across Sydney, the Lower Hunter, Central Coast and the Illawarra.

• $400 million reserved in Restart NSW for the new Housing Infrastructure Fund, to deliver infrastructure that will increase housing supply across the State.

• $300 million for Landcom to accelerate the construction of thousands of new homes, with 30 per cent affordable housing.

The&nbsp;Real Estate Institute of NSW (REINSW) says however it is unclear how new supply will actually be delivered, and the Government’s pursuit of its so-called rental reforms are a continuation of the “data-ignorant” approach that has exacerbated the rental crisis.

REINSW CEO Tim McKibbin said it's clear the Government recognises the critical housing shortage in the state, including social and affordable housing, and the need for action on new housing construction.

“However, the glaring omission is the detail on how this will be achieved. The $224 million for the Essential Housing Package and the minimal commitment of a few thousand public housing dwellings over the long-term won’t scratch the surface in the context of the enormity of the housing crisis. Tangible and significant supply outcomes are needed but they have not been forthcoming," McKibbin said.

He said that to encourage new housing supply, developers need to be incentivised to proceed with projects, especially with the challenges of rising materials and labour costs.&nbsp;

“Tax reform is the clear opportunity to improve new project feasibility," McKibbin said.

"Holding local Governments to account to meet the required new housing targets in their areas is another opportunity. We must also take a new evidence-based approach to addressing the rental crisis. Ignoring the data has not worked. It has led to an environment in which investment in residential property is discouraged.

“It’s important to remember that the provision of social and affordable housing is the Government’s job. It’s not the job of private investors.

“The impact of tenant-centric legislation has been to vastly shrink the rental pool. More investors are selling their properties and as such, tenants have less choice. Regrettably, this Budget appears to commit the Government to the existing data-ignorant approach which has made the rental crisis so much worse."

McKibbin said we need to "“flip the script and begin to encourage investors to make properties available for rent."

"This demands a reconsideration of current proposed reforms which seek to divide the interests of tenants and landlords. Ideally, the tenant-landlord relationship should be symbiotic, based on fairness and respect, yet Government’s reforms promote an adversarial environment in which disputes are encouraged, which harms everyone involved."McKibbin said the REINSW is ready to work with the Government and all stakeholders on an evidence-based approach to the housing crisis.&nbsp;

“It’s worth noting that if people are encouraged to invest in residential property, this will improve feasibility for new development projects."

REINSW CEO Tim McKibbin said it's clear the Government recognises the critical housing shortage in the state, including social and affordable housing, and the need for action on new housing construction

NSW Labor's $2.2 billion housing plan unclear: REINSW

Sydney developer Sammut Group has announced the appointment of multi-award-winning, iCIRT-rated construction firm Decode to deliver VUE, their mixed-use project in the heart of Cronulla.

VUE sits on a prominent 5,225sqm site at the northern end of Cronulla Mall and is set over two eight-storey buildings, sharing a double-storey podium.

The development will include 112 apartments, 880 sqm of commercial space and 3000 sqm of retail space including Harris Farm Markets – the first for Southern Sydney.

<img alt="Aerial render of the Cronulla project, VUE." data-entity-type="file" data-entity-uuid="d93d7e31-4a64-4284-87c2-a23c1bc0fb6d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Superman.jpg?VersionId=1kr4092AdLh5OCJF3xPLPaamc9f0.oTO" />

The $350 million urban renewal project, to be delivered with venture capital partner Alceon Group, is expected to be completed by 2025.

Sammut Group Chief Executive Officer Allen Sammut says the decision to partner with Decode for the construction of VUE was based on its outstanding reputation and commitment to delivery.

“The appointment of Decode as our building partner for VUE is a significant milestone for this landmark development, particularly as we’re about to commence demolition on site,” Sammut says.

OFSC and ISO accredited, Decode was also one of the first 20 businesses to receive a Gold Star iCIRT rating in 2022. They have&nbsp;delivered over 33 projects across the full spectrum of sectors including the landmark mixed-use project Burwood Grand, which was recently awarded the 2023 Urban Taskforce Best Mixed-Use Development Award, and Grande Pyrmont Bay Estate which won the 2021 Urban Taskforce Best Low-Rise Residential Development Award.

Decode Founder and Chairman Sam El Rihani says his team is excited to partner with Sammut Group to add a new star to the heart of Cronulla with this iconic project.&nbsp;

‘We are delighted to be working with the prestigious Sammut Group who have already proven to be an efficient and cooperative partner, making it a joy to realise our shared vision for VUE Cronulla,” El Rihani says.

“Decode’s mission is to deliver excellence in construction and by joining forces with Sammut Group who have an extensive track record of creating superb residential solutions in Sydney’s South, we are confident that Vue will be the new crown jewel of Cronulla.

“VUE is a truly unique building with its striking facade and coastal design. We are excited to deliver a landmark luxury building of this scale and see it set the bar for modern living and quality design in South Sydney.”

Designed by PBD Architects with interiors by Mim Design, VUE apartments feature natural material and Sammut Group’s signature sculptural forms, in keeping with the coastal nature of the location.

Residents of the new apartments will have access to resort-style facilities including a north-facing pool, a large communal terrace with a pavilion, poolside day beds, sauna and open-air gym complete with breakout spaces for a range of activities.

<img alt="Render of the Cronulla project, VUE, with its resort-style facilities, including a pool." data-entity-type="file" data-entity-uuid="661c6df5-26b6-4682-98b2-d4582e5d5a17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Pool_east.jpg?VersionId=8EFI6N8P40VbjX1v2kQk59HOnuEkpy4A" />

Sammut Group Chief Financial Officer Julian Sammut says this announcement comes at a time when demonstration of delivery is crucial.

“It has been a challenging environment for the industry which is why it has been important to form strong relationships with stable and reputable partners, ensuring on-track delivery and commitment to completion,” Sammut says.

“With our proven track record delivering high-quality developments in Cronulla, there is strong confidence in the Sammut Group product. With the appointment of Decode and demolition soon underway, we expect to see strong interest in VUE.”

All one-bedroom apartments have now sold, with a selection of two and three-bedroom apartments still available.

&nbsp;

VUE sits on a prominent 5,225sqm site at the northern end of Cronulla Mall and is set over two eight-storey buildings, sharing a double-storey podium

Sammut Group appoints Decode to deliver landmark project, VUE

Fortis has secured development approval for Bronte Collection, just nine freestanding homes offered off the plan on the dress circle Hewlett Street.

The project, at&nbsp;122-128 Hewlett Street, was given the green light by Waverley Council earlier this month. Fortis are now looking at commencing construction of the homes in early 2024.

Each home will have views over Bronte Beach and offer large living, entertaining and outdoor areas, private dual garaging with EV charging provisions, private pools, outdoor showers, and individual lifts, with select residences also offering a state-of-the-art gym and sauna.

Designed by MHN Design Union, the 2,472 sqm site occupies a premium elevated position just four-minutes’ walk from Bronte Beach and its ocean pool. The nine lavishly appointed residences will be individually crafted from robust and textural materials, with the overall form of the building creating depth and texture within a consistent tone through a tiered façade, optimising year-round natural light and sea breezes.

Drawing on the topography and beauty of the coastal surrounds, Alexander &amp; CO. and Lawless &amp; Meyerson have been appointed as the interior architects on this project, with landscaping by local integrated landscape design practice, Wyer &amp; Co.

“We’ve spent the past several years honing our experience in boutique residential living across some of Sydney’s most prized suburbs and are thrilled with the opportunity to bring this approach to the exquisite coastal community of Bronte," Fortis Associate Director Patrick Baldock said.

"This site marks the beginning of a fresh chapter for Fortis, as we embark on a new sector of housing, designing standalone homes that strike a balance between contemporary and classical interiors."

“Following our approval to develop and highly successful launch of Woollahra Collection where over $100 million worth of apartments were exchanged in the weeks after the opening weekend in May, we are looking forward to bringing these premium residences to market, and delivering something that can be admired by locals for generations to come.

"With an expected end value of $134 million, we trust that the final product will be celebrated for its contribution to the beachside fabric and local surrounds.”

PPD Real Estate Principal Alexander Phill says there&nbsp;hasn’t been a new development of this calibre approved in Bronte in over five years.

"We anticipate strong demand for this high-quality product as the downsizer market continues to strengthen, principally in tightly held Eastern Suburbs coastal locations," Phillips says.

A sought-after coastal suburb, Bronte is located eight kilometres east of the Sydney CBD and is renowned for its pristine white sands, ocean swimming pool and beautiful adjoining parklands. The site itself is conveniently located less than 200 metres away from Bronte beach.

The project, at 122-128 Hewlett Street, was given the green light by Waverley Council earlier this month

First look: Fortis secure approval for luxury Bronte Collection development

Developer VIMG has finalized plans for its Chatswood site.

Having been back and forth with the Willoughby Council to achieve the ideal design outcome, VIMG have submitted a development application for two towers with 193 apartments.&nbsp;

DKO have designed the 90 metre towers which will rise from a central public plaza with retail and commercial tenancies and extensive landscaping by Land And Form Studios.

The project team has undertaken a collaborative engagement process with council including two pre development application meetings and an additional Design Excellence Review.

DKO won the design competition held in April, but the jury requested&nbsp;the scheme be resubmitted as they felt the building could be improved by further consideration of how the 'tree as a tower' conceptual metaphor is ultimately expressed.

<img alt="Chatswood" data-entity-type="file" data-entity-uuid="5d455ce8-3af3-4f1d-a933-7747fe7ea2fa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-09-15%20at%2011.16.19%20am.png?VersionId=AR02dKdgojcDrfZg2xsztxdocyQNDbFL" />

DKO said in their Architectural Design Report that they drew inspiration from the wider cultural landscape.

"Thorough understanding of the local community, we have established a seamless connection between the dwellings and the broader context," the architecture firm noted.

"This connection serves as a constant reminder to the residents of their integral role in the larger community. By prioritising this sense of place, our design proposal creates a harmonious and cohesive relationship between the built environment and the natural surroundings."

<img alt="Chatswood" data-entity-type="file" data-entity-uuid="5796052a-b809-4255-be15-de3dcb0f47bf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-09-13%20at%203.54.58%20pm.png?VersionId=xGwM2gaDdUVpoYNAQRHo8FRmrQdZA16W" />

DKO said the tower form is a refined structural extension of the trunk of the tree.

"The fine detailing of rounded structural columns softens the rigid structure, yet anchors the building to the ground. The podium and commercial spaces are expressed as a sedimentary sandstone stratum on which the finely crafted towers sit. The expression is an acknowledgment of place, and the connection of the residents back to the ground."

There will be a landscaped podium roof for residents, with an outdoor&nbsp;covered yoga and the pool deck is positioned to take advantage of the north-facing aspect of the terrace.

The two and three-bedroom apartments are 15 to 20 per cent larger than Apartment Development Guideline minimums, the documents suggest.

VIMG had forecasted 300 apartments on the site. They said the&nbsp;location of the project is at the core of the area, within walking distance to the train station and a large shopping mall, as well as in close proximity to high-quality primary and secondary schools.

First look: VIMG plot two-tower Chatswood apartment development, Nelson Place

Boutique builder developer Made Property's luxury Sydney harbourfront apartment development, Corsa Mortlake, on&nbsp;Mortlake Point’s last remaining foreshore site, is starting to take expressions of interest.

Designed by SJB, <a href="/new-apartments/corsa-mortlake-140-tennyson-road-mortlake">Corsa Mortlake</a> will comprise just 20 three-bedroom apartments and a 23-berth private marina on Majors Bay. The north-facing building will offer 180-degree harbour views from every apartment.

SJB handled both the architecture and interiors of <a href="/new-apartments/corsa-mortlake-140-tennyson-road-mortlake">Corsa Mortlake</a>. SJB Director Adam Haddow said the design for Corsa Mortlake creates a harmonious fusion of architecture, interior design, landscape and sustainability.

"Addressing the foreshore and gracefully descending towards the water, the building engages seamlessly with its environment," Haddow said.

<a data-entity-type="file" data-entity-uuid="106c5b91-0a62-407f-871c-13f5005b4dfb" href="/new-apartments/corsa-mortlake-140-tennyson-road-mortlake"><img alt="Corso Mortlake" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Casamia%203.%20%281%29.jpg?VersionId=vILnmC4WtIykPX.fjdwa26m1t6zd2Cxo" /></a>

“The building’s relationship with its surroundings has been carefully orchestrated, ensuring panoramic views towards the harbour. A carefully crafted façade, with large openings and sculpted windows, takes advantage of the incredible location, and creates an architecture of refinement and elegance."

Haddow says the landscape blends seamlessly with the building, with&nbsp;with landscaped roofs at the lower levels embedding the building into the surrounds.

"Upon arrival, residents are immersed by a landscape courtyard that leads to a lobby adorned with dappled light and high-quality finishes. The building’s setback from the foreshore offers newfound public views from Tennyson Road, redefining the relationship between architecture and water."

At the heart of the design is sustainability, Haddow says, which&nbsp;benefits both the environment and the occupant.

"Every apartment draws in the water views, is cross ventilated, and is orientated to the north-easterly aspect.

<a data-entity-type="file" data-entity-uuid="6ee0bde1-4a8d-4e43-8717-81d671d27b81" href="/new-apartments/corsa-mortlake-140-tennyson-road-mortlake"><img alt="Mortlake" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Casamia%203._0.jpg?VersionId=9SihRuiN7qoG5gaeZnnu4uKZ37CTJjjU" /></a>

“To achieve these elevated levels of amenity, each floor limits the apartment numbers to five and introduces three lift lobbies. This results in one or two apartments to each lobby ensuring an intimate entry experience, this is further elevated with brick screens that ensure privacy, while allowing light and air."

He said the material selections, particularly the ubiquitous brickwork, speak to durability, longevity, and sustainability, while the passive design principles will yield both comfort and reduced energy consumption.

"Each apartment is cross ventilated, reducing the reliance on air conditioning and connecting the occupant to the harbour. The orientation maximises solar access and natural daylight. Solar panels will further reduce consumption, a testament to our commitment to sustainable practices and reducing the building’s ecological footprint."

There are a mix of colour schemes available. The light scheme features&nbsp;off-white joinery, grey and white marble, and mid-tone timber flooring. The dark scheme has grey marble, deep timber flooring, and off-white joinery.

Haddow says the&nbsp;vision for the interior design is cohesive with the building’s character and context.

"Five unique floorplans adapt to specific micro-climates, ensuring tailored comfort for each resident. The design philosophy celebrates simplicity through joinery forms, while reeded details pay homage to the rippling waters of the Parramatta River. High end fixtures and Miele appliances provide for sophisticated apartment living."

<a data-entity-type="file" data-entity-uuid="557fc306-847c-4005-b683-e6f6948cedbb" href="/developments/nsw"><img alt="Sydney" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Sydney.jpg?VersionId=wEo63J2nX89JhqSlp35LKzWwGKyz_aSL" /></a>

Made Property Development Manager Todd Moody said Corsa Mortlake will offer a truly exceptional boutique waterfront development featuring refined, exemplar architecture ideal for local downsizers looking for the ultimate lifestyle investment potentially with the added convenience of mooring their boat at their residential address.

As part of the development,&nbsp;the boardwalk which fronts the Corsa Mortlake will be extended as part of the Canada Bay Council Foreshore Access Strategy, which aims to improve and increase access to the beautiful foreshore areas around Canada Bay.

Made Property, an iCIRT-rated builder developer, were r<a href="/news/nsw/made-property-secure-kpmg-origins-building-trustworthy-indicator-top-score-for-drummoyne-apartment-development-the-isles">ecently awarded the highest rating of any builder developer in NSW</a> by KPMG Origin’s new ‘Building Trustworthy Indicator’ (BTI) rating tool, scoring a rating of 4+ out of 5 for its recently completed harbourfront residential project, The Isles in Drummoyne – a first for a builder-developer in NSW.

SJB Director Adam Haddow said the design for Corsa Mortlake creates a harmonious fusion of architecture, interior design, landscape and sustainability

How SJB designed Made Property's Corsa Mortlake apartment development

Haitchin Group have broken the Hills District apartment record at their Norwest Infinity Park development.&nbsp;

They've sold a four-bedroom, sub-penthouse on level 22 in one of the two towers for $3.7 million. It topped the former record, believed to be $3.4 million.

The north-facing apartment spans 199 sqm of internal living space and a further 124 sqm of balconies. It has four bedrooms, three bathrooms, and three car spaces.

PRD Norwest Director David Inkster said the sale reflected the strong demand for premium, generous-sized apartments as well as the distinct lack of supply for luxury apartments in the area.

“A degree of fear of missing out or FOMO is setting in in the Norwest as local downsizers, looking for lifestyle and sophisticated amenities are eager to secure their next home, as there’s only a small amount of supply coming online in future years,” Inkster says.

[smartcode_project:default project_id=94408 project_image_fid=214927]

A recent market report for July prepared by My Housing Market Chief Economist and property commentator, Dr Andrew Wilson found Norwest was the best performing market in Sydney’s Hills District and one of the best performing markets in the city, seeing a 9.5 per cent uplift in property prices since the start of the year.&nbsp;

“The Sydney housing market has maintained its strong revival through the first half of 2023 with the north west reporting the strongest regional price growth over the past year,” Wilson said.

“With Sydney home values still just below the peak results recorded over March last year, buyers will continue to take advantage of the value opportunities that remain in the local market – particularly in high demand areas to the north west of the city.”&nbsp;

Overlooking the Castle Hill Country Club, Infinity Park will comprise 287 apartments across three residential buildings. The project consists of a 25-storey tower, Marque, along with two five-storey low rise buildings, marketed as Alpha and Omega, comprising the most premium two and three bedroom apartments in the precinct.

[smartcode_project:default project_id=94408 project_image_fid=214929]

A seven-storey commercial tower, Infinity Commercial, is situated opposite the residential buildings and comprises 95 strata commercial suites including a 193 sqm rooftop fine-dining restaurant by acclaimed hatted chef, Joshua Mason.&nbsp;

“Infinity Park is certainly one of the most premium mixed-use communities in Norwest. The project has received strong interest already with local downsizers who want to stay in the area,” Mason said.

The buildings are centred around&nbsp;a resort-inspired, tropical lagoon-style swimming pool, the largest in Norwest.

Haitchin Group’s General Manager, Robert Tasevski, said one of Infinity Park’s greatest selling points is the enviable lifestyle it will offer, positioned within walking distance to the picturesque Castle Hill Country Club, with meticulously designed, generously-sized apartments and balconies, designed with downsizers in mind and those looking for more space than the average apartment in Sydney.

“The larger style two and three bedroom apartments will cater to local downsizers looking for a stunning new home, close to all amenities including the Castle Hill Country Club as well as the Norwest Metro station, Norwest Shopping Centre and local schools,"&nbsp;Tasevski said.

The residential component of Infinity Park is due for completion in mid-2025, with the commercial building completing earlier in April 2024.

[smartcode_project_cta:default project_id=94408]

PRD Norwest Director David Inkster said the sale reflected the strong demand for premium, generous-sized apartments as well as the distinct lack of supply for luxury apartments in the area

Infinity Park secures Hills District apartment record

Property advisory firm Charter Keck Cramer believe the Sydney off the plan apartment market is in the process of recalibrating and “jumping” ahead by a full cycle.

Suggesting there's been challenges in Sydney's apartment market over the last 12 to 18 months given the RBA's tightening cycle, Charter Keck Cramer noted in&nbsp;their&nbsp;State of the Market Report H1 2023 that although headwinds remain, there are now green shoots beginning to emerge.

"We anticipate the BTS apartment market will gradually improve over the balance of 2023 and into 2024," the report read.

"Whilst there have been challenges in various apartment sub-markets and locations throughout Sydney, boutique prestige projects continue to perform strongly. This is highlighted by strong takeup of new release projects and continued excellent demand (and prices) for development sites in premium locations."

They said once there is greater market certainty that we're nearing the top&nbsp;of the rate tightening cycle, which may have already occurred, overall market sentiment is expected to start improving.

"When interest rates enter a tightening phase (which could be as early as 2024), improved sentiment and ongoing supply issues are anticipated to combine and manifest in an extremely elastic response across the market. This is assuming that economic conditions do not notably deteriorate nor is there a significant increase in unemployment.

"The BTS and BTR apartment markets stand to be the primary beneficiaries of the next cycle given substantial affordability issues in Sydney as well as the structural changes in living preferences of which our readers are now well aware."

The supply v demand imbalance is even more pronounced than it was earlier this year, CKC suggested.

They believe&nbsp;Sydney needs to build between 22,000 to 25,000 build to sell and build to rent apartments every year to accommodate the growing population. 
<img alt="BTS Sydney" data-entity-type="file" data-entity-uuid="938fd5d9-42c8-4679-9473-93ace31bad47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-09-11%20at%2011.22.16%20am.png?VersionId=fGZHRPTxM7eWMBFcz7kZDfA6KThMUa59" />

"Sydney has averaged about 18,500 apartment completions per year over the past decade. During FY2024 – FY2026, apartment completions are forecast to measure around 12,000 per annum."

Apartment completions in Sydney Metro fell to 7,700 during FY2023, the second consecutive year of decade low delivery. The 7,700 was just 50 per cent lower than typical annual completions.

CKC noted that a&nbsp;greater number of apartments will be delivered in the next two years, with 21,500 currently under construction and a further 7,800 marketed for FY2025 completion, as the market tries to ‘catch up’ from the COVID-affected years.

"We continue to expect Sydney’s apartment market to remain undersupplied, despite the projected increase in construction volumes as high levels of net overseas migration (NOM) absorb new stock. Furthermore, a significant proportion of projects currently marketed for FY2025 completion are likely to be delayed given elevated construction costs and a challenging pre-sale environment."

CKC also believe current projects by the Government "substantially underestimate population growth."

"This misalignment between supply and demand is anticipated to remain an ongoing issue, and depending on the responses by Government, could potentially be exacerbated over the balance of the decade."

The lack of supply is likely to place upward pressure on pricing.

<img alt="Sydney BTS" data-entity-type="file" data-entity-uuid="a946e25a-ea21-4809-ae34-8357592f6a53" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-09-11%20at%2011.35.06%20am.png?VersionId=sSQYXYMbq2PXqUU46jGszbuFkhikosRg" />

"From a market perspective, lack of new supply over the last three to four years should result in greater demand for apartment stock, being the most affordable dwelling typology. This will likely place upward pressure on pricing, particularly when market sentiment improves and interest rates start to cycle downwards."

There's already been&nbsp;median apartment price growth in some markets due in part to the Reserve Bank of Australia holding cash rates firm and exorbitant growth in rental pricing.

"This has seen an increase in buyer activity as more purchasers return to the market. For developers to ensure the best opportunity to increase pricing, new projects will need to feature highly marketable characteristics in order to generate strong demand.

"There has been growing interest from purchasers to acquire product within well thought out master planned projects, offering excellent social amenity and practical design options. This is particularly in light of more residents employing a hybrid working model. Such projects in centralised locations offering superior lifestyle factors (close proximity to public transport, retail, schools, employment hubs) have seen a notable increase in project appeal."

"We anticipate the BTS apartment market will gradually improve over the balance of 2023 and into 2024," the report noted

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