Melbourne off the plan apartments

The Allan Labor Government has said it is "going all-in on townhouses and apartments that are affordable to build and will stand the test of time in quality, design, aesthetics and sustainability"

Minister for Planning Sonya Kilkenny has announced a turbocharged plan for Victoria’s future homes that will drive a new era of affordable architectural heritage in this state.

The plan will compel good design by:

<ul>
	<li>
	Rewarding affordable, well-designed buildings – and the developers who put in the effort to build them – by granting them a fast track through the planning system
	</li>
	<li>
	Expanding the ‘design book’ of great designs by including existing buildings that have made a mark and are loved by residents and the community
	</li>
	<li>
	Letting Victorians have their say for the first time on how Victoria’s streetscapes and buildings should look
	</li>
	<li>
	Building real life examples of ‘design book’ homes on government-owned land so Victorians can see and feel them – and then move in
	</li>
</ul>

Kilkenny said the&nbsp;community deserves affordable buildings that look great on the outside and feel solid as a rock on the inside.

"Our plan is for more grand designs but without the grand cost," Kilkenny&nbsp;said.

“We have an incredible opportunity before us to renew our suburbs and streets with well-designed apartments and townhouses that are great for singles, families and downsizers – and which add to the architectural fabric of our state.”

The Government says the plan will drive change: flipping the script to promote, reward and speed up the construction of townhouses and apartment buildings that look great on the outside – and feel solid as a rock on the inside.

The Great Design Fast Track

The Government will introduce a new, fast-tracked pathway for buildings with homes that meet the test of build quality, good design and sustainability – so developers can build better homes without the additional costs and delays associated with projects that might look a bit ‘different from the norm’.

The&nbsp;Great Design Fast Track&nbsp;will be developed by the Minister for Planning to focus on townhouse and apartment projects of three to six storeys in height. It is intended to apply statewide and work in a similar way to the current Development Facilitation Pathway (DFP) that exists for more significant housing projects.

As with the current DFP, locals would retain the right to know what’s going on and have their say. The DFP accelerates a project through that system, giving confidence to developers that their cost-sensitive projects won’t get stuck in an expensive state of limbo.

Through this fast track, Victoria can give a stronger arm to architects and developers who put in an effort and take on more personal risk by building projects that look great and add lasting value to streets and communities. They should not be punished by a culture that quashes creativity and sustainability.

The Government will expand its&nbsp;State Design Book&nbsp;of ‘future homes’ – projects that are planned on paper alongside artists’ impressions but don’t yet exist – by welcoming into its pages the best examples of good, affordable designs that are already in the ground, home to Victorians and loved by locals.

While the Government is producing such a design book, which is still on track for completion by the end of 2024, the book will be more useful through the inclusion of high-quality developments that are already complete – at a scale up to 6 storeys. It will be a showcase of great buildings that were realistic and viable to deliver.

Eligible designs will be required to encourage sustainable, family friendly and accessible homes, with communal spaces and gardens. Examples of homes that&nbsp;could&nbsp;feature include the beautiful Balfe Park Lane, which delivered 72 one, two, three and four-bedroom apartments with a big communal backyard in East Brunswick.

The design book will also establish best practice principles and guidance for well-designed apartments and townhouses – to guide developers and give communities confidence about the long-term quality of new homes.

Joel Robinson

"We will reward the buildings that are designed the best" VIC Gov to speed up approvals for best designed apartment developments

Melbourne developer <a href="https://www.urban.com.au/developers/beulah">Beulah</a> is continuing its expansion into Melbourne’s inner north.

The developer of <a href="https://www.urban.com.au/new-apartments/sth-bnk-by-beulah-southbank-60-southbank-boulevard-southbank">STH BNK by Beulah</a>, which will set the record for the tallest tower in the southern hemisphere when completed, has submitted plans for its 1,200 sqm-plus <a href="https://www.urban.com.au/developments/fitzroy-vic-3065">Fitzroy</a> site at 430-434 George Street.&nbsp;

Beulah has appointed Australia’s most awarded sustainable architecture practice, <a href="https://www.urban.com.au/architects/breathe-architecture">Breathe Architecture</a>, to design the mixed-use project, which comprises 44 residences and two curated ground-floor retail spaces designed to integrate with the local Fitzroy character.&nbsp;

<img alt="Beulah" data-entity-type="file" data-entity-uuid="a079df73-07ce-4a85-b3e5-0f3c1df93e25" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-13%20at%203.05.37%E2%80%AFPM.png?VersionId=omDLxSdVq_Faf4obwln8iXJIjgBF7YMk" />

Sustainability is at the core of the development. It will be fossil fuel-free and feature rooftop solar and rainwater harvesting. Residents will have access to natural ventilation, biophilic design, sundrenched outlooks and on-site amenities including a ‘bike hub’ and repair station, 49 bicycle spaces, as well as a shared resident zone currently earmarked for a fern garden.&nbsp;

Two levels of the basement will include car spaces for residents, as well as car share vehicles and EV charging facilities as a means of promoting green transport.&nbsp;

For the architecture, Breathe has drawn inspiration from the surrounding area, which is historically characterised by single and double-storey Victorian and Edwardian terrace dwellings, with remnants of industrial and warehouse buildings dotted throughout.&nbsp;

The design features a three-level brick podium lined with lush greenery, honouring the suburb’s heritage character and streetscape through its scale and materials. The active ground level encourages pedestrian activity and enhances natural surveillance, ultimately improving security and the overall quality of the area. The levels above the podium are recessed to minimise the form within the residential neighbourhood, complete with external terrace areas.&nbsp;

The design also seeks to incorporate the retained historically significant bluestone wall along an integrated laneway and will&nbsp; provide a dedicated vehicle and cycle entry along Rose Street to reduce the traffic to George Street.&nbsp;

<img alt="Beulah unveils Fitzroy project - upper storey" data-entity-type="file" data-entity-uuid="bc39f39d-0dc3-4bda-af3d-56fa06a82b2b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/FIT%20Upper%20Storey%20Crop.jpg?VersionId=eD2fcfBAbF2wWYdUsY6xRNEcIE051Rb9" />

Beulah Executive Director Adelene Teh said the team was excited to expand its portfolio of boutique projects into <a href="https://www.urban.com.au/developments/fitzroy-vic-3065">Fitzroy</a>, a suburb&nbsp;that holds a special place for Melburnians and visitors alike.&nbsp;

“We are excited to contribute to the pulse of Melbourne's oldest and most desirable suburb—the vibrant Fitzroy," Teh said.

"With its eclectic&nbsp;character and rich history, Fitzroy is a culinary heart, a melting pot of cultures, and a hub of thriving lifestyles. We hope our contributions will enhance the precinct's desirability and leave a lasting legacy for future generations."&nbsp;

Breathe Architecture Founding Director Jeremy McLeod said the team was excited to work with Beulah on delivering a project that&nbsp;seamlessly integrates with the Fitzroy streetscape.&nbsp;

“Grounded in the heart of Fitzroy, this project is about strength and elegance. A refined masonry base sits effortlessly with the&nbsp; George Street Terraces, while the upper apartments open up to expansive views and the northern sun.”&nbsp;

Beulah’s other projects within Melbourne’s inner north include its sustainable heritage townhome project,&nbsp;<a href="https://www.urban.com.au/new-townhouses/brunswick-established#:~:text=A%20limited%20collection%20of%2023,within%20a%20historically%20rich%20locale.">Brunswick Established</a> and The Wilds, Northcote’s largest creek-front, resort-style houses, which is under construction and due for completion next year.&nbsp;

Beulah Executive Director Adelene Teh said the team was excited to expand its portfolio of boutique projects into Fitzroy, a suburb that holds a special place for Melburnians and visitors alike

Beulah unveils new sustainable Fitzroy development

Sunkin Property Group has officially topped out Park House, the first building in&nbsp;<a href="https://www.urban.com.au/new-apartments/highett-common-37-graham-road-highett">Highett Common</a>, Victoria’s first Net Zero Community.

Project partners were invited to <a href="https://www.urban.com.au/new-apartments/highett-common-37-graham-road-highett">Highett Common</a>, a soon-to-be 9.3-hectare neighbourhood featuring landscaped parks, dedicated nature reserves, and a range of amenities. Some facilities will be exclusive to Highett Common residents, while others—like the new two-level public library, part of the Bayside Community Facility—will be open to the wider Highett community.

Park House is Highett Common’s first building to reach height completion, within a precinct that will be home to over 1,000 residences once completed.

The topping out event is a centuries-old tradition with roots in Scandinavia. The practice stems from symbolic ceremonies of respecting the land that has been disturbed throughout the construction process. It is believed the practice will bring good fortune and prosperity to the future site and its residents.

The celebration also presented an opportunity to acknowledge the work and dedication put forth by the project team to reach this level of construction.

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Highett Common is being brought to life by some of the most well-renowned leaders in the industry. <a href="https://www.urban.com.au/landscape-architect/tract-landscape-architects">Tract Landscape Architects</a> has been engaged as lead consultant to highlight the importance placed on integrating the development with its natural surroundings.

Working alongside them, the expert design team at <a href="https://www.urban.com.au/architects/clarke-hopkins-clarke-0">Clarke Hopkins Clarke Architects</a> has designed indoor and outdoor spaces that pay homage to this naturalised focus. With these designs in hand, SK Construction is leading the charge in the current construction phase, ensuring that Highett Common will be delivered within expected timelines and to a high quality.

Other partners helping to bring the spaces to life include furniture partner, Coco Republic, and project manager, Gallagher Jeffs, who are playing important roles in the new phase.

[smartcode_project:default project_id=108019 project_image_fid=300063]

Sunkin has appointed&nbsp;Delta Group as the head contractor for Highett Common’s next phase, tasked with creating the very first open greenspaces and parklands. Landscape designers at Tract Consultants have curated a vision and masterplan that seamlessly integrates this parkland into the existing natural site, which the team at Delta will now help to realise.

Located on approximately 0.9-hectares, this first stage will see the public open spaces and community park adjacent to the Park House and North Lane brought to life. These spaces will be home to open grassy lawns, as well as nature-inspired playgrounds and ensure that Highett Common’s first residents will have access to community amenities from their move-in day.

[smartcode_project:default project_id=108019 project_image_fid=300077]

Activity and works are underway on-site with practical completion expected by May 2025. This will be followed by a council handover process in time for the move-in of the first Highett Common residents in 2025.

The Park House, over 85 per cent sold, will comprise&nbsp;one, two, and three-bedroom residences.

Future residents will benefit from Highett Common's state-of-the-art amenities, including indoor and outdoor pools, two gyms, wellness hubs, and a public library.

[smartcode_project:default project_id=108019 project_image_fid=300054]

<a href="https://www.urban.com.au/developers/sunkin-property-group">Sunkin</a>&nbsp;recently launched the newest stage at Highett Common, <a href="https://www.urban.com.au/news/vic/sunkin-reveal-the-mews-collection-highett-commons-latest-release">The Mews Collection</a>, 185 apartments across the next three buildings.

Part of the release is the first opportunity to buy the most high-end apartments in the precinct. The Luxury Collection will comprise 12 luxury apartments designed for owner-occupiers and downsizers.&nbsp;

Located near Highett Station and just a short distance from local shopping centres and Sandringham Beach, Highett Common aims to blend modern living with natural surroundings in a prime location well-connected to Bayside and the rest of Melbourne.

[smartcode_project_cta:default project_id=108019]

Located near Highett Station and just a short distance from local shopping centres and Sandringham Beach, Highett Common aims to blend modern living with natural surroundings in a prime location well-connected to Bayside and the rest of Melbourne

Sunkin tops out first stage of Highett Common neighbourhood

While Melbourne has seen a generational shift of new apartment towers in the last decade, the high-density sprawl is yet to reach Geelong.

Geelong, the harbourside city that has grown significantly due to millions of dollars worth of private and public investment, has only seen a handful of new apartment developments come to life in recent years.

Given the lack of new developments across the city, what has been even more rare has been the availability of new penthouses. That’s what makes the four penthouses atop <a href="https://www.urban.com.au/new-apartments/motif-geelong-1-york-street-geelong-vic-3220">Motif</a> Geelong, currently being developed by <a href="https://www.urban.com.au/developers/dm-property-icon-kajima">DM Property and Icon Kajima</a>, a golden opportunity for those looking to downsize on the edge of the burgeoning city.

Just four apartments sit on the penthouse level, and offer the ideal lockup and leave lifestyle which has proven scarce in the Geelong region for many years.

The timing of the release is set to benefit downsizers, given the VIC Government's move in October to <a href="https://www.urban.com.au/news/vic/vic-government-slashes-stamp-duty-for-off-the-plan-property-buyers-savings-available-immediately-oct-2024">scrap stamp duty in the new apartment space for 12 months</a>, a move that is likely to encourage downsizers in particular out of their family homes and into a new, large apartment, without the expensive duty transfer they would have previously paid.

[smartcode_project:default project_id=136615 project_image_fid=311693]

The penthouses, three three-bedroom apartments and sole two-bedroom apartment, offer the best views from the sixth and highest level of the boutique York Street building designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>.

Each penthouse, with upgraded Fisher &amp; Paykel integrated appliances, offers expansive views of the Geelong CBD as well as water views of the bay. They have been oriented so the open plan kitchen, living and dining room meets the balcony that captures the extensive views.

[smartcode_project:default project_id=136615 project_image_fid=311694]

Stuart Marsland, Principal of Rothelowman, said the site for Motif has the advantage of not just being on the edge of the city, but also the edge of the bay.

"Our vision was to provide high-quality spaces for living and working that take advantage of views in all directions," Marsland said.

An internal light well in the building invites additional daylight, while the&nbsp;ground floor features a communal, plaza-like area landscaped by ACRE, as well as a shared rooftop terrace.

[smartcode_project:default project_id=136615 project_image_fid=241455]

More than 60 per cent of the 129 apartments have been snapped up since the development launch back in September last year. In a sign of tight supply in Geelong, there has only been one other development launch in the last 12 months.

The development has proven popular with local first home buyers, investors, both those from Melbourne and Sydney, as well as local downsizers.

Located at 1 York Street, just outside the CBD, the project is on the doorstep of Pakington Street’s bustling café and dining scene, the Little Malop Street cultural precinct home to the Geelong Library and Heritage Centre, and close to waterfront attractions.

[smartcode_project:default project_id=136615 project_image_fid=295056]

Motif is the first apartment development on the Bellarine Peninsula to be built by regarded construction firm&nbsp;<a href="https://www.urban.com.au/builders/hamilton-marino">Hamilton Marino</a>, strengthening confidence in buyers the building will be completed to a high standard. There's also the expertise from Icon Developments, owned by the publicly listed Kajima Corporation, one of the world’s largest property and construction companies.

DM Property, founded by Brendan Mullan and David Dordevic, kicked off their development journey with the successful Sandringham townhouse development, Early 3191, which will be ready for occupancy early next year.

They have a new townhouse project coming up early next year in Brighton.

Construction of Motif is well underway, with completion slated for late 2025. RPM Group is handling the project sales.

[smartcode_project_cta:default project_id=136615]

Downsizers set to swoop on new penthouses at Motif Geelong

While South Bank generally refers to the collection of suburbs south of a river that dissects the city (think Brisbane or London), Melbourne's Southbank is a suburb in its own right, and it's arguably the most connected suburb in the whole of Melbourne.

Given its proximity to the city and the river, it's no surprise that the near-12,000 apartments make up over 98 per cent of dwellings in the 3006 postcode, the 2021 ABS Census showed.

Private investment from the commercial, retail, and hospitality sectors has matched the increase in density and population, turning Southbank into one of the city's most vibrant residential and cultural hubs, right on the Yarra River. The focal point of <a href="https://www.urban.com.au/new-apartments/southbank-vic-3006">Southbank</a> is the casino Crown Melbourne, having stood just off the river for the best part of two decades, while the Melbourne Arts Centre and the National Gallery of Victoria are also key destinations.

It wasn't until the 1990s when the suburb began its development, having predominantly been a commercial and industrial area. Now skyscrapers line the skyline.

Just over two decades ago, work began on <a href="https://www.urban.com.au/buildings/eureka-tower-7-riverside-quay-southbank">Eureka Tower</a>, which by the time it completed in 2006, was the tallest residential building in the southern hemisphere at nearly 300 metres, putting Southbank on the global map.

That was topped in 2020 when the 317-metre <a href="https://www.urban.com.au/buildings/australia-108-southbank-70-southbank-boulevard-southbank">Australia 108</a> was completed. Australia 108, only 200 metres from the front door of Eureka, comprises 1105 apartments across a 100-level building.

[smartcode_project:default project_id=582 project_image_fid=182857]

It was one of the first crop of towers with upscaled resident amenities, a trend which we've seen only grow in the last five years.

The building boasts two exclusive resident grand lobbies with lounges and a hotel-style porte-cochere. The Sky Rise Club features a heated indoor swimming pool, a sauna, a fully equipped gym, a theatre, a grand dining room, and a virtual golf room.

The Star Club, on Levels 70 and 71 and reserved for owners of the more premium apartments, features double-height, full glass infinity pools with spa facilities, along with two state-of-the-art gyms, dining rooms, expansive lounge rooms, a reading room, a private cinema, and a sky garden.

[smartcode_project:default project_id=582 project_image_fid=182879]

One of the newest tower developments in development in Southbank is <a href="https://www.urban.com.au/new-apartments/sth-bnk-by-beulah-southbank-60-southbank-boulevard-southbank">STH BNK by Beulah</a>. One of the two towers, at 366 metres, will be the tallest in Australia.

The 367-apartment development has already seen records shattered after it hit the market last year.&nbsp;A penthouse broke the Melbourne off the plan apartment record when it sold for $35 million, only to be topped by a sub penthouse <a href="https://www.urban.com.au/news/vic/sth-bnk-by-beulah-breaks-melbourne-apartment-record-again">that sold for $38 million</a>.

At the heart of&nbsp;<a href="https://www.urban.com.au/new-apartments/sth-bnk-by-beulah-60-southbank-boulevard-southbank">STH BNK by Beulah</a>&nbsp;will be the world’s tallest ‘greenscraper’—promising a green, active and connected urban environment with the future of retail innovation, customised hospitality, fresh food perspectives, cultural experiences, and vitality and wellness at its core.

A wellness precinct, located on an entire podium level in&nbsp;<a href="https://www.urban.com.au/new-apartments/sth-bnk-by-beulah-60-southbank-boulevard-southbank">STH BNK by Beulah</a>, is designed to be the city's world-class, all-in-one health and wellness destination backed by science's leading practices.

[smartcode_project:default project_id=8804 project_image_fid=221153]

International developer&nbsp;<a href="https://www.urban.com.au/developers/osk-property">OSK Property</a>&nbsp;is also working on one of the largest mixed-use precincts in Melbourne nearby.

<a href="https://www.urban.com.au/buildings/melbourne-square-93-119-kavanagh-street-southbank">Melbourne Square</a>, across an unrepeatable two-hectare site on City Road above Melbourne’s internationally acclaimed Arts Precinct, is well into its development, with two towers already completed and ready to move in.

[smartcode_project:default project_id=107714 project_image_fid=211867]

Currently under construction is <a href="https://www.urban.com.au/new-apartments/blvd-at-melbourne-square-19-hoff-boulevard-southbank">BLVD</a>, the latest stage which offers just over 600 apartments across a 74-level tower littered with facilities like&nbsp;private dining rooms, state-of-the-art gyms, a 25m indoor swimming pool, spa, sauna, golf simulator, entertainment and lounge spaces, and a double-storey co-working area on levels 55 and 56.&nbsp;

Multiplex is building BLVD, which is slated for completion in early 2028.

[smartcode_project:default project_id=2929 project_image_fid=201012]

While precedent has been set for towers getting up to 100 levels, not every development in Southbank is reaching that high into the sky.

Almost boutique at 62-levels is The Queensbridge Building by Time &amp; Place, MaxCap Group and Hickory, under construction on Queensbridge Street, just one street back from Crown Melbourne.

<a href="https://www.urban.com.au/new-apartments/the-queensbridge-building-southbank-90-queensbridge-street-southbank">The Queensbridge Building</a> will have 367 apartments which will share the building with the 188-room Hannah St. Hotel, operated by TFE Hotels.

[smartcode_project:default project_id=1504 project_image_fid=272071]

Only a handful of developments have completed in recent years. Central Equity's FOCUS is Melbourne's most awarded high-rise development in 2023.

<a href="https://www.urban.com.au/buildings/focus-melbourne-81-city-road-southbank">FOCUS</a>, rising 50 levels on City Road, won the&nbsp;prestigious Victorian Housing Award from the HIA, and also a coveted UDIA Victoria Award for Excellence.

[smartcode_project:default project_id=3260 project_image_fid=206139]

The $450 million FOCUS Melbourne comprises a&nbsp;mix of one, two, and three-bedroom apartments.

International developer Landence also recently completed its slice of Southbank. <a href="https://www.urban.com.au/buildings/the-evermore-southbank-58-66-dorcas-street-southbank">The Evermore</a>, a two-tower development designed by Hayball closer to the Botanic Gardens than the Yarra River, has over 50 different floorplans for buyers to choose from.

There are 366 one, two and three-bedroom apartments in The Evermore, atop a&nbsp;podium level housing upscale retail spaces.

[smartcode_project:default project_id=2087 project_image_fid=237888]

Enquiry for apartments in Southbank on Urban.com.au has been dominated by&nbsp;first home buyers since the start of 2024.

They represent 46 per cent of enquiry in Southbank this year, followed by those buying their next home (34 per cent), and then investors (20 per cent).

Project searches in Southbank spiked by nearly 60 per cent from September to October, with enquiry also jumping by 75 per cent.

Southbank’s skyline evolution: The rise of new apartment living on the Yarra River

Melbourne's property market continues to trickle toward the bottom.

CoreLogic's Monthly Index showed both the house and unit market contracted in October. It was another month units (-0.1 per cent) outperformed houses (-0.2 per cent), but it was the first month since August that both dwelling groups were in the red.

The median value of a unit in Melbourne is now $613,000.

The decline in the property market in Melbourne is predominantly being driven by higher supply.

“Total listings are now 13.2 per cent above the previous five-year average in Sydney and 13 per cent higher in Melbourne,” CoreLogic Research Director Tim Lawless noted, helping to explain the weaker conditions in these markets as buyers benefit from more choice and less urgency in their decision making.

That's not the case in the off the plan market however, which is facing critically low supply.

While the property market in general in Melbourne continues to trickle toward bottoming out, the off the plan market might just be primed to see growth.

<h2>What happened in the Melbourne off the plan apartment market in October?</h2>

October may present the turning of the tide in the off the plan apartment market in Melbourne.

In the last week of the month, the Allan Government announced two new policies to stimulate new development across the city.

The first was the announcement that they were encouraging new apartment development&nbsp;<a href="https://www.urban.com.au/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">around 50 train and tram stations</a>.&nbsp;

Read more:&nbsp;<a href="https://www.urban.com.au/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">50 new ‘train and tram zone’ activity centres to encourage new apartment development across Melbourne</a>

The second announcement, days later, was to abolish stamp duty for all buyer types across all price points for 12 months.

Read more:&nbsp;<a href="https://www.urban.com.au/news/vic/vic-government-slashes-stamp-duty-for-off-the-plan-property-buyers-savings-available-immediately-oct-2024">VIC Government slashes stamp duty for off-the-plan property buyers - savings available immediately, Oct 2024</a>

Read more: <a href="https://www.urban.com.au/news/vic/the-shackles-are-off-what-the-abolishment-of-stamp-duty-really-means-for-the-melbourne-new-apartment-market">"The shackles are off": What the abolition of stamp duty really means for the Melbourne new apartment market</a>

The news came in the last week of October, and since then three new developments have hit the market, one of them being <a href="https://www.urban.com.au/new-apartments/bright-brighton-34-black-street-brighton-brighton-vic-3186">Bright</a>, just six two, three and four-bedroom apartments in the heart of <a href="https://www.urban.com.au/developments/brighton-vic-3186">Brighton</a>.

Marshall White Projects has calculated buyers could save up to around $200,000 in stamp duty on the apartments since the Government policy kicked in.

[smartcode_project:default project_id=147778 project_image_fid=309650]

Marshall White Projects Director Leonard Teplin said the satmp duty abolition is&nbsp;a "game-changer for downsizers."

"They [downsizers] can now purchase high-end apartments&nbsp;or townhouses without the hefty stamp duty, making the transition more financially appealing," Teplin says.

"I expect to see a surge in downsizer activity, especially in premium inner-city and Bayside locations. This also has a dual benefit of encouraging downsizers to transition from the family home, and therefore, making more established housing available for family buyers."

Given the 12-month timeline on the stamp duty abolition, the expectation is that developments recently approved, or those that were paused and waiting for some sort of stimulus to improve the market conditions, will now launch.

<a href="https://www.urban.com.au/developers/time-and-place">Time &amp; Place</a> will no doubt be looking to get their <a href="https://www.urban.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a> mixed-use development into market sooner rather than later.

Their joint venture with Woolworths for a 60-unit project above a full-line Woolworths was approved late last month.

The five-level building, designed by <a href="https://www.urban.com.au/architects/cera-stribley-architects">Cera Stribley</a>&nbsp;at 173 Burke Road, is aimed at targeted at downsizers and young and multi-generational families.

<img alt="Glen Iris" data-entity-type="file" data-entity-uuid="88bbdec8-27ff-438a-af95-6e697e1c6176" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-01%20at%208.49.37%E2%80%AFAM.png?VersionId=Zm_nPk4jU7d.g4miCWhnzGEjH37r7j3j" />

Sales are also set to launch at GURNER's $1.7 billion Docklands precinct, Elysium Fields.

The first three towersm, that will house around 700 dwellings, have been designed as a futuristic wellness and anti-ageing utopia. The 27,000 sqm site at 208-226 Harbour Esplanade will house around 1,100 dwellings upon completion and will include around 3,700 sqm of immersive public landscapes and gardens.

Hamilton Marino has been appointed to build the first tower. Early construction works are expected to commence in the next four weeks, prior to the public launch of sales, which is earmarked for early next year. &nbsp;

Read more:&nbsp;<a href="https://www.urban.com.au/news/vic/sales-to-launch-at-gurners-1-7-billion-elysium-fields-precinct-in-docklands">Sales to launch at GURNER's $1.7 billion Elysium Fields precinct in Docklands</a>

<a href="https://www.urban.com.au/developers/sma-projects">SMA Projects</a> timed their launch back into the Melbourne off the plan apartment market perfectly.&nbsp;

They recently unveiled The Regent Fitzroy, a building that has been designed purposefully to reimagnie the former&nbsp;iconic Regent Theatre that once sat on the <a href="https://www.urban.com.au/developments/fitzroy-vic-3065">Fitzroy</a> Street site.

[smartcode_project:default project_id=24824 project_image_fid=304614]

<a href="https://www.urban.com.au/new-apartments/the-regent-fitzroy-340-fitzroy-street-fitzroy-vic-3065">The Regent</a>&nbsp;will comprise 64 one, two, and three-bedroom apartments starting from $725,000.

Read more:&nbsp;<a href="https://www.urban.com.au/news/vic/sma-bring-back-the-regent-theatre-heritage-in-fitzroy-with-latest-apartment-development">SMA bring back The Regent Theatre heritage in Fitzroy with latest apartment development</a>

<a href="https://www.urban.com.au/developers/sunkin-property-group">Sunkin Property Group</a> also revealed the latest stage of its Net Zero Highett community, <a href="https://www.urban.com.au/new-apartments/highett-common-37-graham-road-highett">Highett Common</a>.

The Mews Collection, the third stage of the 11-hectare masterplan, will comprise a trio of buildings with 185 apartments.

The apartments will feature&nbsp;floor-to-ceiling glazed windows, to take advantage of the views of the surrounding parklands, as well as all-electric kitchens with stone surfaces, Bosch appliances, and induction cooktops.

[smartcode_project:default project_id=108019 project_image_fid=300052]

The Mews Collection represents the first opportunity to buy at the luxury end of the market in the development.

The 12 apartments, dubbed the Luxury Collection are a step up in design, with&nbsp;Gaggenau appliances, herringbone timber flooring, marble benchtops, and advanced home automation systems that are integrated with the&nbsp;<a href="https://www.urban.com.au/developments/highett-vic" target="">Highett</a>&nbsp;Common Connect app.&nbsp;

Read more:&nbsp;<a href="https://www.urban.com.au/news/vic/sunkin-reveal-the-mews-collection-highett-commons-latest-release">Sunkin reveal The Mews Collection, Highett Common's latest release</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/vic/city-beat-september-2024-melbourne-property-market-hovering-around-the-bottom">City Beat September 2024: Melbourne property market hovering around the bottom</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/vic/city-beat-august-2024-is-melbourne-approaching-the-bottom-of-the-market">City Beat August 2024: Is Melbourne approaching the bottom of the market?</a> 
&nbsp;

While the property market in general in Melbourne continues to trickle toward bottoming out, the off the plan market might just be primed to see growth

City Beat November 2024: Melbourne off the plan market gets shot in the arm, but overall market downturn

DCF Property Group has celebrated the official sod-turning for its $180 million First Light development in South Melbourne's Domain Precinct.

The project, with a construction value of $75 million, will be delivered by Ironside, a renowned Australian builder specialising in high-end, large-scale developments.

DCF Property Group CEO, Calvin Huang, said the sod-turning&nbsp;marks a significant milestone for <a href="https://www.urban.com.au/developers/dcf-property">DCF</a> as they begin to turn their vision for <a href="https://www.urban.com.au/new-apartments/first-light-28-albert-road-south-melbourne">First Light</a> into reality.

“This project represents a major investment in Melbourne’s future, with long-term benefits in job creation, tourism, and economic growth," Huang said.

[smartcode_project:default project_id=2556 project_image_fid=299333]

There are to be 30 luxury apartments in the building, as well as the Nu By YOO luxury hotel. World-renowned designer Philippe Starck and international property entrepreneur John Hitchcox founded YOO in 1999.

First Light will also introduce world-class amenities including a wellness sanctuary and premier dining experiences designed by renowned restaurateurs Scott Pickett and Jason Lau.

&nbsp;

[smartcode_project:default project_id=2556 project_image_fid=299353]

Residents will also enjoy exclusive services through partnerships with luxury brands such as Space Furniture, which has curated the development’s interior furnishings.

First Light is due for completion in October 2026, with the hotel to begin operating shortly thereafter.

[smartcode_project:default project_id=2556 project_image_fid=299358]

Throughout the construction phase, First Light&nbsp;is expected to create 160 direct jobs, along with an additional 450 jobs across Victoria’s economy.

Upon completion, First Light, through its wide-ranging amenities, will provide 45 permanent jobs, with additional opportunities arising for contractors and suppliers, ensuring a continued positive impact on the local economy.

[smartcode_project_cta:default project_id=2556]

First Light is due for completion in October 2026, with the hotel to begin operating shortly thereafter

DCF Property break ground at First Light in South Melbourne, with Ironside appointed construction partner

In&nbsp;bustling metropolitan cities like Melbourne, the allure of living on a park offers a refreshing respite from inner-city life.

New apartment developments on a park are hard to come by, given the cost of land surrounding a park, much like being beachfront, is typically more expensive.

That's why parkside apartments offer something from both a lifestyle and an investment standpoint, as the lack of abundance of parkside apartments generally speaking means they hold their value, attract more potential buyers, and can yield higher rents.

Parkside apartments appeal to a diverse range of buyers, especially families and pet owners who view the park as an extension of their living space. These developments are often designed to incorporate the natural surroundings, with apartments strategically oriented to maximize views of the greenery, both from inside the homes and on their balconies.

Melbourne is famous for its parks, but a lack of supply means opportunities for buyers are few and far between, with only a handful of new parkside developments coming every year.

We've shone a light on the top four apartment developments currently for sale, and under construction, on some of Melbourne's best parks.

<h2>What: Prince &amp; Parade by Mirvac, Brunswick</h2>

<h3>Where: 701 Park Street, Brunswick VIC 3056</h3>

<h3>Who: Mirvac</h3>

Mirvac's latest parkside apartment development, Prince &amp; Parade, has proven to be a hit with local buyers from Brunswick, as well as the neighbouring Parkville, Princes Hill, and Carlton.

[smartcode_project:default project_id=4802 project_image_fid=217137]

The parkside location on the 39-hectare Princes Park,&nbsp;home of Carlton Football Club, walking paths, sports grounds, and playgrounds,&nbsp;has been one of the biggest drivers in purchasing.

Designed by Bates Smart in collaboration with Mirvac Design and landscaped by Jack Merlo, Prince &amp; Parade comprises 144 one, two, three, and four-bedroom apartments.

[smartcode_project:default project_id=4802 project_image_fid=217119]

<a href="https://www.urban.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick">Prince &amp; Parade</a> is also just four kilometres from the CBD and is within walking distance of the historically vibrant suburbs of Melbourne's inner north. It's also just a short walk to Jewell Train Station and Royal Park Train Station.

Early site works have commenced on the development by Mirvac's inhouse construction arm.&nbsp;

<h2>What: Maléa, Malvern East</h2>

<h3>Where: 94 Burke Road, Malvern East VIC 3145</h3>

<h3>Who: Abadeen Group</h3>

Maléa is the first development by the Victorian arm of luxury developer Abadeen, a developer who's name has been synonymous with quality apartment developments across Sydney for the best park of two decades.

Their first development is on Central Park in Malvern East where they've created just seven apartments across a boutique building designed by Ewert Leaf with interiors by Carr.

[smartcode_project:default project_id=141969 project_image_fid=222388]

The Burke Road location will put residents across from the seven-hectare Central Park that is bordered by just three streets, making Maléa an incredibly rare opportunity.

Andrew Leoncelli, who leads the Victoria arm of Abadeen, says they chose the site for&nbsp;Maléa because of its incredible location opposite Central Park in the beating heart of&nbsp;<a href="https://www.urban.com.au/developments/malvern-east-vic" target="">Malvern East</a>.

"We are committed to delivering a project of exceptional quality in this dynamic and thriving community across from one of the great heritage parks moments from all the very best that&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic" target="">Melbourne</a>&nbsp;has to offer," Leoncelli says.

[smartcode_project:default project_id=141969 project_image_fid=222407]

Brompton is currently building Malae, which is expected to complete in late 2025.

<h2>What: Eblana, East Melbourne</h2>

<h3>Where: 140-142 Jolimont Road, East Melbourne VIC 3002</h3>

<h3>Who: PB &amp; Co.</h3>

Fitzroy Gardens is one of Melbourne's most well-known parks with historically significant gardens throughout its 26 hectares.

Luxury developer PB &amp; Co. recently revealed <a href="https://www.urban.com.au/new-apartments/eblana-east-melbourne-140-142-jolimont-road-east-melbourne">Eblana</a>, just four full-floor apartments on Joilimont Road, just 300 metres away from the southern end of Fitzroy Gardens, with Jolimont Reserve and Wellington Park even closer.

[smartcode_project:default project_id=108801 project_image_fid=236536]

The ultra-high-end project will see the redevelopment of the landmark former residence of Young &amp; Jackson publican Thomas Jackson.

Each apartment will have three bedrooms, multiple living zones, winter gardens and study retreats, as well as a fully automated car parking system likened to a James Bond-style parking.

[smartcode_project:default project_id=108801 project_image_fid=236544]

The three-level penthouse, expected to sell for over $20 million, will have views over Fitzroy Gardens and Melbourne's skyline. It will feature a private rooftop terrace and infinity pool, accessed by either an internal lift or a sculpted spiral staircase.

All residents will have access to a fitness centre, landscaped communal spaces for entertaining guests, and a private concierge service.

<h2>What: Highett Common</h2>

<h3>Where: 37 Graham Road, Highett VIC 3190</h3>

<h3>Who: Sunkin Property Group</h3>

While not next to an established garden so to speak, the apartment buildings in Sunkin Property Group's <a href="https://www.urban.com.au/new-apartments/highett-common-37-graham-road-highett">Highett Common</a> will be surrounding by new parks and landscaped pathways.

Four hectares of the large 9.3-hectare block has been reserved for greenery, three of which for a conservation area and one hectare for public parkland.

[smartcode_project:default project_id=108019 project_image_fid=300063]

The design of the open spaces has been inspired by the nature already on the site, says Tract senior principal landscape architect Mariano Lopez.&nbsp;

Highett Common will feature several architecturally designed apartments and townhomes that will home more than 1000 residents, with the buildings arranged so they overlook the parklands.

[smartcode_project:default project_id=108019 project_image_fid=300077]

After great success of the first two stages, Sunkin recently released the third stage of&nbsp;<a href="https://www.urban.com.au/developments/highett-vic" target="">Highett</a>&nbsp;Common. The Mews Collection comprises a trio of buildings with 185 one, two and three-bedroom apartments. The Mews Collection also includes the first luxury apartments within the precinct.

<a href="https://www.urban.com.au/developers/sunkin-property-group">Sunkin Property Group</a>&nbsp;is expecting the first stage of Highett Common to be complete by late 2025.

Melbourne is famous for its parks, but a lack of supply means opportunities for buyers are few and far between, with only a handful of new parkside developments coming every year.

Melbourne's top four parkside apartment developments under construction and selling in October 2024

Diversified property developer Time &amp; Place, in partnership with Woolworths Group, has been given the green light by the Victorian State Government for its $150 million mixed-use development in Glen Iris.

Designed by award-winning architects <a href="https://www.urban.com.au/architects/cera-stribley-architects">Cera Stribley</a>, the five-level project at 173 Burke Road will feature 60 apartments, including affordable homes - targeted at downsizers, young and multi-generational families - alongside a full-line Woolworths.

The planning approval follows engagement over many years with the local community, the City of Stonnington, as well as the Department of Transport and Planning, together with the Office of the Victorian Government Architect, and reflects feedback received on urban design, local character and traffic and car park management.

This project will target a 5-star Green Star rating from the Green Building Council of Australia for the residential aspect, showcasing a commitment to sustainability that reduces carbon emissions while also reducing costs for future homeowners and business tenants.

<img alt="Glen Iris" data-entity-type="file" data-entity-uuid="89e83062-9657-4049-9492-d5e27a8d4b77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-25%20at%204.23.03%E2%80%AFPM.png?VersionId=ub8Ynl4vFqDo6W4avTfxWVPEWEwwbZQB" />

The development's ground floor will feature a brand-new Woolworths supermarket, designed to provide a convenient, fresh retail offer for the local Glen Iris community, including a six-bay Direct to Boot facility.&nbsp;

From a design perspective, the external façade features inverted arches made from artisanal brickwork, reflecting Glen Iris's architectural heritage. Contemporary and timeless design features are designed to blend seamlessly with the neighbourhood’s character, reflecting Melbourne’s appreciation for raw materiality and Victoria’s architectural history.

<a href="https://www.urban.com.au/developers/time-and-place">Time &amp; Place</a> Founder and Director, Tim Price, says one of the primary&nbsp;focuses with the project has been addressing the need for diversification in housing typologies of Glen Iris.

"This project aims to meet the evolving needs of the community and enhance the overall vibrancy of the area," Price says.

"Our commitment is to enrich the suburb’s housing landscape and ensure it remains a dynamic and accessible place to live. This approach is informed by our observations of the positive impact that our Victoria Hill project has had in Camberwell, emphasising the importance of varied housing solutions to support a diverse and thriving community."

Time & Place Founder and Director, Tim Price, says one of the primary focuses with the project has been addressing the need for diversification in housing typologies of Glen Iris.

First look: Time & Place and Woolworths greenlit for Glen Iris mixed-use precinct

Construction is underway on the Milieu Property’s first inner southeast Melbourne apartment development, Plant Street in <a href="https://www.urban.com.au/developments/malvern-vic-3144">Malvern</a>.

The build by&nbsp;<a href="https://www.urban.com.au/builders/manresa-construction">Manresa Construction</a> marks the third collaboration between the duo following <a href="https://www.urban.com.au/buildings/one-wilson-avenue">One Wilson Avenue</a> in <a href="https://www.urban.com.au/developments/brunswick-vic-3056">Brunswick</a> and Otter Place in <a href="https://www.urban.com.au/developments/collingwood-vic-3066">Collingwood</a>.

<a href="https://www.urban.com.au/developers/milieu-property">Milieu</a> has built its design-driven repuation primarily in the northern suburbs since its inception in 2010. <a href="https://www.urban.com.au/new-apartments/plant-street-by-milieu-malvern-1-plant-street-malvern">Plant Street</a>&nbsp;is well inkeeping of their philosophy of focusing on good design principles.

[smartcode_project:default project_id=139856 project_image_fid=288442]

The development, situated on a nearly 1,000 sqm site on Plant Street, comprises just 21 apartments crafted by some of Melbourne's most celebrated designers.

Architecture studio <a href="https://www.urban.com.au/architects/ritz-ghougassian">RITZ&amp;GHOUGASSIAN</a> has designed the building, which is notable for its robust, textured concrete façade.&nbsp;

Horizontal planes are strategically placed to allow for views of the neighbourhood and gardens, while smooth slab edges play with light and shadow, creating a dynamic and unique visual experience.

[smartcode_project:default project_id=139856 project_image_fid=278299]

The project’s interiors, crafted by <a href="https://www.urban.com.au/interior-designers/georgina-jeffries">Georgina Jeffries</a>, incorporate a relaxed yet refined material palette.&nbsp;The focus on craftsmanship and comfort is evident throughout the design, ensuring that each apartment feels personal and inviting.

Acre, the landscape architect for the project, has designed the outdoor spaces to integrate seamlessly with the architecture and interiors.&nbsp;

The landscape design aims to soften the building’s strong lines, using layered and seasonal plantings to create a connection between the indoors and outdoors.

[smartcode_project:default project_id=139856 project_image_fid=217345]

Plant Street is being delivered in partnership with Penfold and MaxCap, and is expected to complete toward the end of 2025.

Jellis Craig Projects is selling Plant Street.

[smartcode_project_cta:default project_id=139856]

Plant Street is being delivered in partnership with Penfold and MaxCap, and is expected to complete toward the end of 2025

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