<ul>
	<li>
	Demolition:

	<ul>
		<li>Demolition of existing buildings</li>
	</ul>
	</li>
	<li>
	Construction:

	<ul>
		<li>10-level mixed-use development</li>
		<li>Residential Units:
		<ul>
			<li>28 x 2-bedroom apartments</li>
			<li>29 x 3-bedroom apartments</li>
		</ul>
		</li>
		<li>Commercial Spaces:
		<ul>
			<li>639 sq m office space</li>
			<li>3 retail shops</li>
			<li>91 sq m food &amp; drink premises</li>
		</ul>
		</li>
	</ul>
	</li>
	<li>
	Building Features:

	<ul>
		<li>2 lifts</li>
		<li>Brick and rendered finish walls</li>
		<li>Metal mesh screens</li>
		<li>Clear and opaque glazing</li>
	</ul>
	</li>
	<li>
	Parking:

	<ul>
		<li>2 levels of basement car parking</li>
		<li>Space for 119 vehicles</li>
		<li>82 bicycle spaces</li>
	</ul>
	</li>
	<li>
	Additional:

	<ul>
		<li>Landscaping</li>
	</ul>
	</li>
</ul>

Johnston & Napier - 159-167 Johnston Street, Fitzroy

August was a quiet month in Melbourne's off the plan apartment market, with no new developments of note for buyers to enquire on

The property market in Melbourne continues to face downward pressure, now falling behind the likes of Adelaide and Perth for median dwelling value.

Melbourne unit values declined a modest -0.1 per cent over August, while houses dropped -0.2 per cent.

On the face of it, they aren't huge declines. The issue is the pace that other capital cities are growing at. Brisbane is closer to two per cent growth in units, and arguably doesn't have as much of a supply issue as Melbourne.

Questions are being asked as to whether <a href="https://www.urban.com.au/developments/melbourne-vic">Melbourne</a>&nbsp;now represents a great opportunity for buyers, because the market will turn at some point in the not too distant future, it's more a matter of when than if it will turn.

It's the first time since 2015 the Melbourne median dwelling value has slipped behind Perth, when the latter was just coming off the highs of an iron ore boom.

CoreLogic's 40-year median dwelling value series hasn't seen Adelaide with a higher median than Melbourne.

Values are skewed however slightly, given a third of Melbourne homes are units, compared to around 16 per cent homes in Perth and Adelaide.

CoreLogic Research Director, Eliza Owen, said there are a wide range of factors contributing to Melbourne's softer market conditions.

"The increased tax burden on investment property owners in Victoria, but it's not the only factor at play," Owen said.

"Supply is also a big factor for Victoria, where the state saw more dwelling completions over the past decade than any other state of territory."

<h2>What happened in Melbourne’s off the plan apartment market in August?</h2>

August was a quiet month in Melbourne's off the plan apartment market, with no new developments of note for buyers to enquire on.

Plenty of developers however are starting to line up their pipeline for the start of 2025.

One of the most exciting projects coming up is the $1.2 billion mixed-use precinct by Salvo for Melbourne's Pentridge Prison in Coburg.

The Melbourne developer is the latest to reveal plans for the southern portion of the former prison that ceased operations in 1997.

<img alt="Salvo plans $1.2 billion mixed-use redevelopment of Coburg's Pentridge Prison" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Pentridge%20Village_Ned%20Kelly%20Easement.png?VersionId=ROz.FE6zEoy3XjlQN__CZajv7YY2gC7j" />

The proposed development will include heritage preservation elements, such as Ned Kelly’s grave site and the bluestone F Division building, providing a mix of retail and public spaces while reflecting <a href="/developments/coburg-vic-3058">Coburg</a>’s character.

Pentridge Coburg is part of Salvo’s $3 billion development pipeline, which includes a $1 billion four-tower, mixed-use development at Fisherman’s Bend and Moray House, a $220 million multi-residential development in Southbank.&nbsp;

There were also noteworthy submissions in some of Melbourne's most popular inner-city suburbs.

Diversified developer&nbsp;<a href="https://www.urban.com.au/developers/goldfields-group">Goldfields</a> is pushing forward with plans for a 12-level mixed-use project in Richmond that will see 125 apartments developed above ground-floor retail at 9-15 Brighton Street.

With <a href="https://www.urban.com.au/architects/cera-stribley-architects">Cera Stribley</a> overseeing design and <a href="https://www.urban.com.au/landscape-architect/jack-merlo">Jack Merlo</a> handling landscaping, the project is set to bring another high-quality residential offering to <a href="https://www.urban.com.au/developments/richmond-vic-3121">Richmond</a>, a suburb known for its proximity to the CBD and iconic attractions like Chapel Street and the Melbourne Sports Precinct.

<img alt="Goldfields ready new $150 million mixed-use development in Richmond" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Richmond%20Site%202.jpg?VersionId=vxKyRwoFAeVSG58o3XXX7E7KTR3UEbEj" />

Well-known construction firm <a href="https://www.urban.com.au/builders/cobild">Cobild</a> is also planning an inner-city development. Their plans are in Fitzroy where they're proposing a 10-level building at 159-167 Johnston Street.

Dubbed <a href="https://www.urban.com.au/new-apartments/johnston-napier-159-167-johnston-street-fitzroy">Johnston &amp; Napier</a>, the development will deliver 57 large-scale apartments, on average spanning over 130 sqm.

With a strong focus on sustainability, this project aims to accelerate Melbourne's transition towards becoming a self-sufficient city, a trend that continues to gain momentum across the city's new developments.

<img alt="First look exclusive: Cobild plot Johnston St, Fitzroy new apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-12%20at%204.11.51%E2%80%AFPM.png?VersionId=JARizOowqxqiKuv.jfzboqLXGWABNF2v" />

There were several strong sales results in August.

Along the coast in Hampton, design-led developer&nbsp;<a href="https://www.urban.com.au/developers/wickton">Wickton</a>&nbsp;sold out its six-apartment project, <a href="https://www.urban.com.au/new-apartments/58-beach-hampton-58-beach-road-hampton">58 Beach</a>.&nbsp;

Designed to cater to downsizers, the development, with unobstructed views of the beach and a prime location near Hampton Station, has been particularly appealing to those transitioning from larger family homes.

In Melbourne's south-east, <a href="https://www.urban.com.au/developers/damgar-group">Damgar Property Group</a>’s <a href="/new-apartments/rosella-murrumbeena-50-rosella-street-murrumbeena-vic-3163">Rosella</a> apartment project in <a href="https://www.urban.com.au/developments/murrumbeena-vic-3163">Murrumbeena</a> continues to perform well, with over half of the 70 apartments already sold.&nbsp;

[smartcode_project:default project_id=142221 project_image_fid=288651]

Situated across from Hughesdale Station and Village, the Rosella development provides a rare opportunity to buy new in this tightly held suburb, where only 100 new apartments were delivered between the 2016 and 2021 census.

For a limited time, Damgar is accepting five per cent deposits on a handful of the one and two-bedroom apartments on offer in the Cera Stribley-designed building.

Joel Robinson

City Beat September 2024: Melbourne property market hovering around the bottom

The transformation of Fitzroy into one of Melbourne's coolest inner-city suburbs is set to continue with another visually appealing, sustainable apartment development on the cards.

Plans have been filed by well-known construction firm Cobild for a 10-level development at <a href="https://www.urban.com.au/new-apartments/johnston-napier-159-167-johnston-street-fitzroy">159-167 Johnston Street</a>. Cobild Director, Rotem Rotenberg, placed a caveat on the title of the three adjoining lots, totaling 1,978 sqm, on the corner of Johnston and Napier St last year. The site is currently home to three attached, single-level commercial buildings.

The busy Cera Stribley has been called on the design what's being dubbed Johnston &amp; Napier. The 57 owner-occupier focussed apartments, all two and three-bedrooms, have an average internal size of 132 sqm and have their own private terraces.

<img alt="Cera Stribley" data-entity-type="file" data-entity-uuid="c09341e2-8c95-4baf-95b3-2ff4feb34bc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-12%20at%204.11.51%E2%80%AFPM.png?VersionId=JARizOowqxqiKuv.jfzboqLXGWABNF2v" />

Cera Stribley said in its Design Report they were inspired by the influence landscape has on architecture.

"Inspired by the rich cultural and geographical context of Ngár-go, the “high ground” as recognised by the Wurundjeri Woi Wurrung people, our design intent is deeply rooted in the profound influence of the natural landscape, observing how cities organically evolve in response to their surroundings," CS noted.

"In embracing the notion of Higher Ground, we conceptualise the natural ground plane extending vertically throughout the site, unlocking vast opportunities for on-site amenity."

<img alt="Cera Stribley Johnston St" data-entity-type="file" data-entity-uuid="ee790e65-67ef-4ef3-bd9b-9325bd5a6005" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-12%20at%204.11.55%E2%80%AFPM.png?VersionId=fcHhfA07uCVRZWZJEkDIMKEuRblMOq8l" />

CS said communities flourish in natural spaces.

"Prioritizing landscape in our urban environments ensures greener futures, promotes environmental sustainability, biodiversity, and a healthier quality of life for communities living in them.&nbsp;A strong relationship between people and their environment fosters well-being, connection, and a shared commitment to preserving the beauty of the surroundings."

As well as the apartments, residents will have exclusive access to a private courtyard, garden, and resident lounge on level one with a communal kitchen and dining space, with accompanying landscaping by Florian Wild Landscape Architect. Also part of the development will be 639 sqm sqm of office space, three street-level retail spaces, and a "vibrant cafe".

"This multi-faceted approach ensures that the development not only enhances the residential experience but also contributes positively to the local community and urban fabric of Fitzroy," CS added.

<img alt="Cera Stribley Fitzroy" data-entity-type="file" data-entity-uuid="5b69634a-20dc-4424-85f0-f622cc8bb620" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-12%20at%204.11.59%E2%80%AFPM.png?VersionId=s_hd89rrqb6tj6Qmxfy4iDPseyxwf5fX" />

There will be 28 two-bed apartments on offer and 29 three-beds, of which five are subpenthouses that will have 3.5 bathrooms and a second living area.

There is a push for the development to be sustainable.

"Every project is an opportunity to help accelerate Greater Melbourne’s transition towards becoming the world’s first Self Sufficient City," Cera Stribley noted.

"We are extremely excited about this opportunity to work together with City of Yarra to create an example to help future generations. We are not interested in doing less harm, it’s time for us to create a positive impact through the construction industry."

<img alt="Cera Stribley Johnston St" data-entity-type="file" data-entity-uuid="9e8d9b84-4233-40a7-8656-5f93763158fc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-12%20at%204.12.05%E2%80%AFPM.png?VersionId=7V3rivVRARUCocwHukCbVXJ9qDmuxmr3" />

The aim is for there to be a 51 per cent reduction in energy usage and 15 per cent renewable energy generation, and a 25 per cent reduction in water usage.

Contour Consultants said in its Town Planning Report the proposal "embodies architectural and urban design excellence and will make a positive contribution to the appearance, amenity and safety of the public realm."

Johnston St has been particularly busy in recent months. <a href="https://www.urban.com.au/developers/sma-projects">SMA Projects</a> is preparing its latest development, <a href="/new-apartments/the-regent-fitzroy-340-fitzroy-street-fitzroy-vic-3065">The Regent Fitzroy</a>, following development approval, while further down Johnston St in <a href="https://www.urban.com.au/developments/abbotsford-vic-3067">Abbotsford</a>, Valeo Construction has recently started the build of <a href="/new-apartments/new-johnston-abbotsford-400-johnston-street-abbotsford-vic-3067">New Johnston</a> for <a href="https://www.urban.com.au/developers/dcf-property">DCF Property</a>.

[smartcode_project_cta:default project_id=146251]

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