How a love of architecture inspired a move into property development: Five minutes with Kokoda's Mark Stevens
It was the creative licence in property development that first lured the then Jeans West Director Mark Stevens into the game back over 25 years ago.
In 1997 he founded Kokoda Property, with his first development being a renovation of a house in the eastern suburbs of Melbourne. Fast forward a quarter of a century and they've completed over 100 projects in Melbourne, and they've just spent a record $100 million on a 17,600 sqm site in Brisbane's Teneriffe which is one of the last of it's kind.
"Ultimately it was a real love of architecture," Stevens told me when I asked him what took him from the corporate world to developing property.
He said always loved the creative process.
"Architecture allows you to create an environment, and I really believe architecture can change the way you feel."
Over the years Stevens' architecture preferences have changed somewhat.
"I used to be besotted with classicism," Stevens said. Now he's into "uber-cool modern."
Kokoda's striking Malvern project, the Malvern Collective, is a testament to the uber-cool, modern design. Two glass-facaded buildings rise from a more heritage-style streetscape.
It was Stevens' love of architecture, paired with his passion for gardens and wanting to develop in another economy, that led him to Brisbane around 10 years ago.
While he'd travelled to Brisbane in his more corporate life, Stevens admitted that he didn't really know it as well as he'd like. He says however he will never forget his first visit.
"When I saw James Street (in Fortitude Valley) for the first time, I remember saying to myself 'oh my god, what an amazing precinct.'
"It has a story to tell. There's nothing like it in Melbourne," Stevens said.
There was the draw of Brisbane's climate and the Brisbane City Council's Buildings That Breathe Design Guide, which encourages developing to the climate. More than any other capital, there's more encouragement to incorporate gardens into high-rise towers, something which Stevens also had a personal affinity towards.
"I've always had a real passion for gardens, and I've invested a lot in them over the years," Stevens said.
He believes gardens change the topography of the street.
"With gardens you see a big difference between say summer and autumn, whereas architecture doesn't change."
Stevens says Brisbane offers an amazing climate and amazing amenity, particularly in the life of Teneriffe and New Farm, where living near the river offers a perf
Kokoda's first Brisbane project was the two-tower Chester & Ella in Newstead, which was completed in 2020. Kokoda stayed waterside with their most recently completed project, The Ambrose in Milton, which was finished earlier this year.
Now the team are preparing to launch Ruby Ruby, a 21-level tower with 145 apartments, just around the corner.
Both The Ambrose and Ruby Ruby have been designed by Cottee Parker, who Stevens says are very open to different styles.
The burgeoning developer is also at the early planning stages of the masterplan precinct in Teneriffe which they secured early last year. The 17,600 site Skyring Terrace riverfront block will be transformed into a $1.75 billion mixed-use development that will activate the waterfront at a scale not yet explored.
Kokoda’s vision for the site comprises apartments and townhouses, a waterfront office tower, a luxury hotel, a retail precinct comprising high-end luxury retail and F&B, and a marina, connecting the expanding Brisbane riverwalk replete with waterfront hospitality, retail and dining.
"We're in the design and development phase of what we think will be a game-changing precinct in Brisbane for years to come," Stevens said.
"It's very community focussed. We're giving a lot back to open space and architecture. It will be a place-making experience. It's not a case of putting what we can on the site, it's about being respectful to what's there, as well as the history of the area."
While there's considerable hype about Brisbane's future growth prospects due to the 2032 Summer Olympics, Stevens said it's not what defines the Queensland capital.
"The Olympics isn't what will make Brisbane amazing. It was already amazing before it got the Olympics," Stevens said.
"If you look at the history of The Olympics, they're being hosted by cities that don't need them to be come amazing. Think San Francisco, Tokyo, London.
"What the Olympics will bring is international attention so the whole world can see Brisbane's appeal."
