Sydney off the plan apartments

Developer JDH Capital has had a penchant for Circular Quay in the last few years.

In 2019 the Jean-Dominique Huynh-led group bought the Sirius building in The Rocks, the brutalist building near the Harbour Bridge that was designed by Harry Seidler and built in 1980.

Now they're approaching completion of the internal reconfiguration, they're onto their next project in the area.

Two years ago the group spent $210 million on the Sir Stamford Hotel at <a href="https://www.urban.com.au/new-apartments/93-97-macquarie-street-sydney">93-97 Macquarie Street</a>. Over the last two years they've been putting together plans to create a mixed-use building that will befit the location at the tip of Sydney's most historic street.

Now they've finalized the $183 million plans, submitted to the City of Sydney Council this month which will see the 1988-built hotel demolished to make way for a striking 15-level glass tower with commercial, retail, and luxury apartments.

<img alt="JDH Capital" data-entity-type="file" data-entity-uuid="8dbaef11-a737-45fa-b58f-7bbf50a74156" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-15%20at%209.19.02%20am.png?VersionId=KDKBwWEgwO5C9CxJ0vM4lYri9z_IQDRe" />

BVN was given the architectural reigns after the jury at the City of Sydney Design Excellence Competition voted unanimously for their design in early 2023.

There had been a concept development application with designs by Kann Finch approved in 2020&nbsp;

BVN said in the Architectural Design Report the proposal has been considered in response to both its pre-colonial and landscape context and within the context of the colonial and contemporary city.

"Consideration of place has included the topography, geology, hydrology, the history of its human occupation and the many contexts that affect the future of this site.

"Its prominent elevated position on a ridge line straddling two bays (Sydney Cove and Farm Cove) gives this site a unique prospect and a sense of permanence in comparison to the changing tidal flats alongside it. The proposal responds and contributes to this context with references to the sandstone escarpments - that for a long time have harboured dwelling - embedded in the aesthetic, material and sculptural qualities of the proposal."

<img alt="BVN" data-entity-type="file" data-entity-uuid="c9e12e2c-4c1f-4280-99c2-41f2772eb386" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-15%20at%2010.09.38%20am.png?VersionId=HZbq13E0MB2ArBpQVGAsBkIzA0Cj4CkU" />

Part of the development of the 1,612 sqm site,&nbsp;which sits in the Macquarie Special Character area defined in the Sydney LEP 2012, will include the restoration of the heritage-listed&nbsp;Health Department Building that dates back to 1896. That was designed by Government architect Walter Liberty Vernon.

"The proposal celebrates the Health Department building- enabling new uses and a new engagement with the city," BVN said.

"Openings and entries in the new building borrow from those in the existing building, particularly along Macquarie Street where the arched form of the Health Department Building entry is re-imagined to mark entry into the carved sandstone podium of the new residential building."

A restaurant will occupy the lowest level of the building, with a cafe to be located on the ground floor. The two levels above will home office suites.

<img alt="BVN" data-entity-type="file" data-entity-uuid="a5465b37-eb56-4635-ac7d-7b5bab759046" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-15%20at%208.55.22%20am.png?VersionId=Mwgd9ICySu9vTF6B4OIX6CF9HEm7EoEv" />

BVN has worked alongside Bates Smart on the apartment layouts and interiors. Winter gardens will extend the living spaces, positioned largely at the building corners of the apartments to maximise views.

The 69 apartments will be spread across 10 residential levels in the new structure.

Proposed are 33 three and four-bedroom apartments, 30 two-bed apartments, five one-beds and a single studio. Level 15 will home a full-floor penthouse.

A communal area will be located on level seven. An indoor resident lounge will open onto a terrace atop the&nbsp;Macquarie Street podium and offer views toward the Royal Botanic Gardens and the Opera House.

There will be a new public outdoor connection that BVN says is a "significant contribution to the city." Landscaping has been handled by Dangar Barin Smith.

Aside from the Sirius building in The Rocks, JDH Capital has also been developing Nautique, the first large-scale apartment development in Rushcutters Bay in well over a decade.

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BVN was given the architectural reigns after the jury at the City of Sydney Design Excellence Competition voted unanimously for their design in early 2023.

Joel Robinson

First look exclusive: JDH Capital plot $183 million Sir Stamford Hotel redevelopment on Sydney's Macquarie Street

Buyers who purchase an apartment in Mulpha’s zero carbon&nbsp;precinct, Norwest Quarter in Sydney's Hills District, may qualify for a green home loan, rewarding them with lower interest rates on their mortgage and higher loan-to-value ratios (LVR) because of the development’s high sustainability credentials.&nbsp;

Stage 1 of <a href="https://www.urban.com.au/new-apartments/norwest-quarter-stage-1-40-solent-circuit-norwest">Norwest Quarter</a> will deliver 181 net zero-ready apartments that consume 50 per cent less electricity from the grid and are powered by 100 per cent renewable energy with an all-electric design.

Norwest Quarter’s apartments have achieved a NatHERS rating of 8.1, putting them in the top 10 per cent of NSW and well above the Hills average of 6.6.

[smartcode_project:default project_id=103264 project_image_fid=196016]

Norwest Quarter is one of Australia’s first urban masterplan developments to deliver full-cycle sustainable design principles from conception through to its construction and long-term performance.

Several lenders offer green home loans to borrowers who buy a property that has sustainable and energy-efficient credentials that satisfy the lender’s sustainability requirements.

Norwest Quarter’s ambitious sustainability measures exceed the standards set out in the new Sustainable Building State Environmental Planning Policy (SEPP), enacted in October 2023. &nbsp;

The new SEPP requires new builds to implement measures to minimise the consumption of energy and potable water, reduce greenhouse gas emissions from energy use, monitor the embodied emissions of building materials, and deliver buildings that are comfortable in summer and winter.

The policy is the next step in a push toward Net Zero emissions from buildings by 2050. The new SEPP will increase the building sustainability index (BASIX) energy efficiency standards and will include an increase in the required energy rating for new homes and apartments to a minimum of 7 Stars under the Nationwide House Energy Rating Scheme (NatHERS).

[smartcode_project:default project_id=103264 project_image_fid=196018]

<a href="https://www.urban.com.au/developers/mulpha">Mulpha</a> Head of Developments, Tim Spencer, said Norwest Quarter will be one of the most impressive precincts in Australia in terms of sustainable practices, initiatives, and design considerations.

“Our off the plan buyers in Norwest Quarter can be confident that we are committed to delivering quality apartment buildings that aim to exceed the new SEPPs code requirements," Spencer says.

“As well as making a real contribution to reducing their carbon footprint, buyers will benefit from reduced energy bills and potentially lower loan rates while also enjoying healthier buildings, better air quality and greater access to nature.

“An added benefit is that the value of your apartment will increase with any energy rating increase, according to Australia’s national science agency CSIRO.”

[smartcode_project:default project_id=103264 project_image_fid=204666]

Auxiliary heating and cooling, which typically accounts for around 40% of energy use in the average Australian home, is effectively reduced through architectural passive design. Norwest Quarter incorporates smart passive design initiatives including high-performance glazing and insulation, the use of light-coloured materials, and building orientation and facades that invite winter sun to penetrate whilst blocking summer sun.&nbsp;

The Norwest Quarter environment has also been designed to minimise the urban heat island effect through substantial replanting of the natural landscape. &nbsp;Other sustainable community initiatives aim to promote nature and biodiversity of local flora and fauna, including communal gardens, productive beehives for enhanced pollination, worm farms, composting and natural landscapes.

Apartment buildings in the Norwest Quarter will feature rooftop solar panels and high-performance, centralised air-conditioning. Apartments will have high-efficiency lighting and appliances, induction cooktops, and electric hot water.&nbsp;

[smartcode_project:default project_id=103264 project_image_fid=196011]

When complete, the Norwest Quarter masterplan will transform over 3.8 hectares of land into a vibrant village for over 2,000 residents who will live amongst 26,000 sqm of green open space. Encompassed within the landscape will be nine residential towers containing 864 apartments, and up to 6,000m2 of space provided for cafes, restaurants, neighbourhood shops and childcare facilities.&nbsp;

Norwest Quarter is located within 400 metres within walking distance of the Norwest Metro Station and the emerging Norwest town centre as well as extensive parklands, pathways and cycleways.

Mulpha’s ambitious new sustainable residential development is being supported by an $80 million green loan from the CEFC and an $80 million green loan from ANZ to cut energy costs by as much as 50 per cent, demonstrating how energy-efficient homes can contribute to our net zero emissions future.&nbsp;

[smartcode_project_cta:default project_id=103264]

Norwest Quarter is one of Australia’s first urban masterplan developments to deliver full-cycle sustainable design principles from conception through to its construction and long-term performance

Urban Editorial

Discounted green home loans on offer at Mulpha's zero carbon Norwest Quarter

Sydney's residential tower activity remained stable in the first quarter of 2024.

According to the latest RLB Crane Index® for Q1 2024, there were seven fewer residential cranes compared to Q3 2023. There are 251 cranes active across Sydney currently, which is 64 per cent of Sydney's total crane count.

The index, which tracks crane counts as a proxy for construction activity, indicates that New South Wales continues to be a powerhouse in construction, accounting for nearly half of all cranes in the country.

Nationally, the crane count stands at 869, marking the second-highest count in the history of the index. Of these, 540 cranes are engaged in residential projects.

Among the residential projects contributing to Sydney's crane count are <a href="https://www.urban.com.au/new-apartments/viciniti-2-10-cottonwood-crescent-macquarie-park">Viciniti</a> and <a href="https://www.urban.com.au/buildings/destination-114-talavera-road-macquarie-park">Destination</a> in <a href="https://www.urban.com.au/developments/macquarie-park-nsw">Macquarie Park</a> with five cranes, and Deicorp's&nbsp;<a href="https://www.urban.com.au/new-apartments/tallawong-village-rouse-hill-2-12-1-15-conferta-avenue-rouse-hill">Tallawong Village</a> with four cranes.

[smartcode_project:default project_id=106821 project_image_fid=215904]

Certain regions across Sydney saw&nbsp;increased crane activity quarter on quarter. The eastern and northern parts of the city experienced a rise in the number of cranes, while the western region recorded a decrease in crane activity.

Inner Sydney (CBD and surrounds) saw the addition of 37 cranes, against the removal of 41 cranes. This brings the total number of cranes to 86 cranes.

There were new cranes added to ICD's <a href="https://www.urban.com.au/new-apartments/city-tattersalls-club-194-204-pitt-street-sydney">City Tattersall Club redevelopment</a> on Pitt Street, as well as Annandale's <a href="https://www.urban.com.au/new-apartments/abbies-lane-8-mccarthy-lane-annandale">Abbie's Lane</a> by <a href="https://www.urban.com.au/developers/ceerose">Ceerose</a>. One Circular Quay saw a crane added, as did Greenland's Park Sydney.

Despite being two of Australia's most populated cities, Sydney has 196 more cranes in the sky than <a href="https://www.urban.com.au/new-apartments/melbourne-vic">Melbourne</a>, which is contributing to the huge undersupply of new property in the Victorian capital.

Among the residential projects contributing to Sydney's crane count are Viciniti and Destination in Macquarie Park with five cranes, and Deicorp's Tallawong Village with four cranes

Sydney's residential crane activity remains strong: RLB Crane Index Q1 2024

Developer Landmark is continuing to push on with its Macquarie Park mega site it bought from Landcom four years ago.

Following the launch of its dual-tower apartment development <a href="https://www.urban.com.au/new-apartments/the-macquarie-collection-5-halifax-street-macquarie-park">The Macquarie Collection</a>, <a href="https://www.urban.com.au/developers/landmark-group">Landmark</a> has now submitted plans for the next section of the&nbsp;18,463 sqm, four-lot site it acquired from Landcom in 2020.

They've submitted plans to the Ryde City Council for 6,276 sqm of the site&nbsp;at <a href="https://www.urban.com.au/new-apartments/3-halifax-street-macquarie-park">3 Halifax Street </a>where they're proposing a 75-metre, 24-level tower with 234 apartments.

<img alt="Landmark" data-entity-type="file" data-entity-uuid="7b0a92d9-e72a-4765-8d19-dbcaf5c8a253" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%207.12.27%20pm.png?VersionId=oKnQ.IaGinDZcV1raFLsErmnsm020bcW" />

Fjcstudio, who designed the tower, said their&nbsp;concept is for a "different type of vertical living."

"Not a conventional tower apartment tower of dark glass but a unique form of vertical living that belongs, drawing on the vernacular and materiality of suburban living, and attracts residents who are drawn to the great beauty of this bushland suburb close to urban and village centre,"&nbsp;Fjcstudio wrote in their Design Report.

"Our proposal is for slim figural towers in earthy clay and brick tones suspended above the existing landscape setting. It is a concept drawn from the landscape and bushland dwelling heritage of North Ryde and Northern Sydney, abstracted and interpreted into human-scaled groupings of vertical community dwelling."

They said the heart of the design is&nbsp;an approach to create homes where healthy ecological living and a connection to the environment and landscape are intertwined.

"The strong connection with local nature provides exceptional environments that embrace and enrich health and wellness. Our sustainability objective is to consider a building which is resilient and healthy and will be adaptable to the consequences of the changing climate.

Two main communal areas are offered, the entry garden and arrival space and the 445 sqm podium rooftop garden that will be extensively landscaped.

<img alt="Landmark Macquarie" data-entity-type="file" data-entity-uuid="f1c5393f-d892-4593-b1b2-8b631e0b2b7b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%207.12.22%20pm.png?VersionId=R89CRHiWmQR.aFT43cyWH5OXpQNM4rr9" />

At the time of the purchase of the 1.8-hectare site, Landmark Group&nbsp;Head of Development, Joseph Scuderi, said they were attracted to it because they saw it as a fantastic opportunity to be able to provide the market with a high-quality residential product, at an affordable price point, in an area that will require greater supply.

“Landmark Group will be able to leverage off the many improvements to the Lachlan’s Line precinct already delivered by Landcom, including all lead infrastructure and services, high-quality public domain spaces, completed regional road infrastructure and the Lachlan’s Line ‘helix’ pedestrian and cycle bridge,” Scuderi said.

“The precinct will become a vibrant community close to the city, providing jobs and sought-after amenities.

“<a href="https://www.urban.com.au/new-apartments/macquarie-park-nsw">Macquarie Park</a> is one of the most accessible and sought-after residential development locations in Sydney, being close to major amenities and we are proud to be involved in this project.”

Fjcstudio, who designed the tower, said their concept is for a "different type of vertical living."

First look exclusive: Landmark file plans for Lachlan's Line, Macquarie Park apartments

Sun Property Group (SPG) has called on construction firm Datlas Rahme Group to deliver Aurora, their boutique apartment development in Willoughby.

<a href="https://www.urban.com.au/new-apartments/aurora-453-willoughby-road-willoughby">Aurora</a> comprises a limited collection of 12 one, two, and three-bedroom apartments, including a full-floor penthouse.&nbsp;

Datlas Managing Director, David Rahme, highlighted the alignment of Sun Property Group's vision with Datlas's expertise.&nbsp;

"The synergies between <a href="https://www.urban.com.au/developers/sun-property-group">Sun Property Group's recent endeavours</a> and Datlas's core principles underscore a collaborative effort poised to unveil yet another exemplary project," Rahme said.

[smartcode_project:default project_id=109919 project_image_fid=205005]

Designed by <a href="https://www.urban.com.au/architects/a-design-group">A+ Design Group</a>, the development boasts a modernist design featuring light-filled interiors, open-plan entertaining spaces, and generous terraces.

"Aurora's architectural blueprint epitomises a fusion of timeless elegance and contemporary allure, epitomised by its gracefully curved façade and thoughtful interior design," Rahme added.&nbsp;

"Embracing our commitment to excellence, AURORA will be adorned with premium finishes meticulously selected to resonate with Datlas's construction philosophy."[smartcode_project:default project_id=109919 project_image_fid=205007]

Residents of Aurora will enjoy proximity to Hallstrom Park, bushwalking tracks with scenic views, and a range of highly regarded primary and high schools, both private and public, just minutes away.

[smartcode_project_cta:default project_id=109919]

Datlas Managing Director, David Rahme, highlighted the alignment of Sun Property Group's vision with Datlas's expertise

Sun Property Group appoints Datlas Rahme Group to build Aurora Willoughby apartments

In a significant step towards the realisation of Crest, their boutique Mosman&nbsp;apartment development, Moorgate Property has appointed iCIRT-rated builder&nbsp;Trescon to deliver the project.

The <a href="https://www.urban.com.au/architects/plus-architecture">Plus</a>-designed <a href="https://www.urban.com.au/new-apartments/crest-mosman">Crest</a> comprises only six luxury apartments boasting uninterrupted views of <a href="https://www.urban.com.au/new-apartments/sydney-nsw">Sydney</a>'s North Harbour on the fringe of <a href="https://www.urban.com.au/developments/mosman-nsw">Mosman</a> village.&nbsp;

The 1,041 sqm site, located six metres below street level, inspired Plus Architecture's innovative design, maximising privacy and amenity by utilising the steep topography.

<img alt="Moorgate Property appoints Trescon to build for Crest Mosman - living" data-entity-type="file" data-entity-uuid="0d77b1f1-daa5-4998-a8e9-03d5d759342a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crest%20Living.jpg?VersionId=g6i_2b60pvdJY0IAaYP__U8TdZQv3QDH" />

Crest's minimalist design is characterised by neatly stacked units, creating a crescent-like shape that defines the property's front, rear, and roof.

The design approach aims to not only blend but enrich the streetscape while offering a unique living experience for residents.

The same approach has been applied to the interiors designed for discerning buyers, especially local downsizers wanting a low-maintenance lifestyle in Mosman.&nbsp;

<img alt="Moorgate Property appoints Trescon to build for Crest Mosman - bedroom" data-entity-type="file" data-entity-uuid="286e64f7-8eae-4e52-8ae1-5528f339349a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crest%20Bedroom.jpg?VersionId=CBW_8KIn.38yZY14Rw8ifrKFquNNAD9M" />

Each three and four-bedroom apartment features spacious layouts, high-end amenities like wine storage, and durable natural materials such as stone and timber.

The higher-level units will lead out to private balconies with panoramic views of Middle Head &amp; the iconic Sydney Harbour, while the lower-level residences will extend to private gardens.

Crest is located just a few minutes from Chinamans Beach, Rosherville Reserve, and harbourside restaurants, and only 30 minutes from Sydney CBD.

[smartcode_project_cta:default project_id=142776]

Crest's minimalist design is characterised by neatly stacked units, creating a crescent-like shape that defines the property's front, rear, and roof

Moorgate Property appoints Trescon to build for Crest Mosman

Cumberland City Council has given builder developer ALAND approval to begin work on Amber, the second stage of The Gladstone Village, a major component of its $800 million mixed-use development in Merrylands.

Amber will bring much-needed housing to Western Sydney, including potential affordable apartments for key workers.

Negotiations are ongoing to designate the entire 21-storey tower, consisting of 236 apartments, for affordable housing under the federal government's Housing Australia Future Fund (HAFF). If successful, these units will be offered at lower rental rates for essential workers, easing the housing crisis and supporting the local economy.

Dr. Andrew Charlton MP, Federal Member for <a href="https://www.urban.com.au/developments/parramatta-nsw">Parramatta</a>, highlighted the critical role of developments like The Gladstone Village in addressing the growing housing needs of Western Sydney.

"This project will help meet the demand for affordable and appropriate housing, especially for key workers, given its proximity to Westmead Hospital, other essential services, and its direct access to <a href="https://www.urban.com.au/developments/merrylands-nsw">Merrylands</a> train station," Charlton said.

"Projects like this are vital for meeting housing targets. Being just minutes from Parramatta, Sydney's second CBD, plays a crucial role in supporting the region's ongoing economic growth."

Amber will feature 31 one-bedroom, 186 two-bedroom, and 19 three-bedroom apartments. The tower will include a residents-only rooftop space, a children’s playground, and three retail spaces on the ground floor. The rooftop terrace will offer amenities like an outdoor cinema, barbecue areas and a community vegetable garden.

Upon completion, The Gladstone Village will transform a 2.5-hectare site into a vibrant urban precinct, featuring over 1,000 residential apartments spread across seven buildings. The development is strategically located near essential transport links and shopping convenience.

The first stage of The Gladstone Village, Quartz, was completed last month and has officially sold out its 363 apartments, with most apartments snapped up by first home buyers and investors.

ALAND Founder and owner, Andrew Hrsto expressed his excitement about the project's progress and its positive impact on the local community.

"This project plays a key role in the transformation of Merrylands,"&nbsp;Hrsto said.

"ALAND is committed to creating a best-in-class development that adds significant value to the broader community and addresses the need for more affordable housing.

"With the inclusion of planned roads and cycleways, improved walkable connections and bustling streetscapes, The Gladstone Village will become a dynamic public space for people of all ages. This precinct will also feature 4,300 sqm of retail space and over an acre of parkland and civic spaces, including the largest public park in the Merrylands town centre."

Hrsto said the Gladstone Village is designed to create a vibrant neighbourhood, fostering community growth and providing new opportunities for both business and social interaction."

The retail spaces in Amber are expected to attract alfresco dining operators, complementing the precinct’s active urban spaces and tree-lined boulevards.

ALAND's Head of Development, Anas Rahhal, said the Amber apartments would exceed the expectations of today's market, with high-quality finishes and spacious designs.

"We've created floorplans that emphasise expansive living areas and workspaces to cater to modern urban living," Rahhal said.

Construction for Stage Two is scheduled to begin in Q3 2024 and is expected to be completed by Q4 2025.

Plans for Stage Three, which include three buildings with 303 apartments and four food and beverage outlets, have already been submitted to Council.

About ALAND

ALAND is an award-winning, Australian-owned family business and one of Sydney’s largest and leading private development and construction groups. For over 20 years ALAND has delivered exceptional quality at an affordable price to Greater Western Sydney and the Central Coast of New South Wales.

ALAND invests significant amounts of time and expertise in researching the market, ensuring that each location is hand-picked for growth and income potential.

Dr. Andrew Charlton MP, Federal Member for Parramatta, highlighted the critical role of developments like The Gladstone Village in addressing the growing housing needs of Western Sydney.

ALAND to launch Amber; stage two of $800 million Merrylands precinct The Gladstone Village

Building crew, staff and guests last week celebrated the topping out at Paramount on Parkes, ALAND’s new $357 million development in Paramatta CBD, marking the successful conclusion of its construction phase.

The ceremony, an age-old tradition in which a tree is hoisted onto the top floor of a new building, was held on level 46 of the mixed-use development on Parkes Street.

When completed in August this year, the new tower will contain 331 apartments, a ground-floor retail precinct, resort-style amenities and six floors of dedicated commercial space at the summit.

The ceremony was attended by Dr Andrew Charlton, federal MP for Parramatta, Cr Pierre Esber, the Lord Mayor of Parramatta, Tom Forrest, CEO of Urban Taskforce Australia and Gurmeet Tuli, President of Little India Australia.

Speaking at the event, Dr Andrew Charlton, federal MP for Parramatta said, “As the fastest growing CBD in Australia, Parramatta needs more high-quality housing, close to our exceptional transport hubs, lifestyle amenities, and beautiful parklands – Paramount of Parkes exemplifies this. With vistas of the river, little India and the CBD, it is a real contribution to our city, offering a symbol and benchmark for mixed-use development here in Parramatta.

<a href="https://www.urban.com.au/builders/aland">"ALAND</a> and its partners should be extremely proud of bringing this development to fruition. I congratulate them on this remarkable contribution to the future of our growing and dynamic city.”

ALAND Founder and Owner Andrew Hrsto told the gathering that as someone who was born and raised in Western Sydney, he was immensely proud of Paramount on Parkes, one of the largest projects that ALAND has developed.

“Paramount stands as a beacon of our enduring commitment to providing much-needed housing in Paramatta CBD and Western Sydney generally,” he said.

“With its blend of residential apartments, ground floor retail and commercial spaces, and views of our much-loved Parramatta Eels stadium, Sydney CBD and surrounding parklands, this building illustrates our dedication to meeting the evolving needs of this community and is also a landmark achievement in ALAND’s own journey.”

<img alt="Paramount on Parkes" data-entity-type="file" data-entity-uuid="5aa70edd-6e0b-4722-b00b-742d79f00d24" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%209.25.54%20am.png?VersionId=AuFebPAlYm5CtTfJi5Biqu21At6g4DCt" />

Hrsto paid tribute to the 5,000-strong workforce that was involved in the development of the 156-metre-high tower, plus ALAND’s many trusted suppliers and sub-contractors.

“On this momentous occasion, I extend my heartfelt gratitude to all those who have contributed to the realisation of this visionary project,” he said.

“As we gather here today to mark this occasion, let us reaffirm ALAND’s ongoing collaboration with both state and local authorities, and our commitment to help tackle the housing supply problems that we are facing in New South Wales.”

Paramount on Parkes is a cutting-edge building that features many sustainable features, such as efficient use of wind, water and solar access, state-of-the-art security technology and the latest digital comms, including optic fibre cabling.

The distinctive curved exterior of the building reflects the meandering nature of the nearby Paramatta River, 
softening the visual impact of the tower which is a gateway to the city.

Apartments are available in one-, two- and three-bedroom formats and offer open-plan living, floor-to-ceiling 
windows, private balconies and high-quality appliances and finishes. Residents enjoy access to an outdoor swimming pool, playground, landscaped gardens and other communal space on the podium level.

About ALAND

ALAND is an award-winning, Australian-owned family business and one of Sydney’s largest and leading private development and construction groups. For over 20 years ALAND has delivered exceptional quality at an affordable price to Greater Western Sydney and the Central Coast of New South Wales.

ALAND invests significant amounts of time and expertise in researching the market, ensuring that each location is hand-picked for growth and income potential.

[smartcode_project_cta:default project_id=9187]

Hrsto paid tribute to the 5,000-strong workforce that was involved in the development of the 156-metre-high tower, plus ALAND’s many trusted suppliers and sub-contractors

ALAND's Andrew Hrsto marks construction milestone at Paramount on Parkes with topping out event

Buyer demand across the country is shifting to units as housing affordability continues to put a strain on budgets.

Research by property data analytics company CoreLogic shows worsening affordability, particularly in capital city markets where house prices have soared.

CoreLogic Economist Kaytlin Ezzy says demand is now tilting towards unit and apartment living due to affordability concerns, particularly in capital cities.

"House values surged nearly 40 per cent since March 2020, while unit values rose 17.9 per cent, indicating the widening gap between house and unit values," Ezzy says.

<img alt="House vs Unit growth" data-entity-type="file" data-entity-uuid="488729a0-d3ea-441b-952b-da4978c13edb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2405_COTM.PNG?VersionId=J38cRtz3_VtXJL8a4njyWTPBtzxbrtDd" />

&nbsp;

Hobart is the only capital that saw stronger value growth in houses (0.8 per cent) compared to units (0.6 per cent) over the three months to April.

"Given the worsening affordability environment and the growing possibility that interest rates could be higher for longer, it's unsurprising that demand has skewed towards the more affordable unit sector," Ezzy added.

Over the three months to April, lower quartile dwelling values rose three per cent, more than twice the pace of upper quartile values (1.1 per cent), with growth conditions continuing to be skewed toward the more affordable section of the market.&nbsp;

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/city-beat-may-2024-sydney-unit-growth-doubles-houses-in-april">City Beat May 2024: Sydney unit growth doubles houses in April</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-may-2024-gold-coast-unit-market-continues-to-surge">City Beat May 2024: Gold Coast unit market continues to surge</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-may-2024-brisbane-unit-growth-doubles-houses-in-april">City Beat May 2024: Brisbane unit growth doubles houses in April</a>

The prolonged high-interest rate environment has seen buyer demand continue to skew towards more affordable housing alternatives, with most capitals now recording stronger growth in the more affordable unit sector

Apartment and townhouse value growth surges ahead of houses amid tightening affordability: CoreLogic

Bellevue Hill's dress circle Victoria Road is set for a new apartment development, with the Woollahra Council signing off on a boutique block of 12 apartments near&nbsp;

Local developers Mark Alexander and Eugene Shaw are behind the $11 million plans for the 1,107 sqm block at&nbsp;<a href="https://www.urban.com.au/new-apartments/214-218-victoria-road-bellevue-hill">214-218 Victoria Road</a>, an amalgamation of three sites backing onto Cooper Park on the corner of Victoria and Old South Head Road.

Two semi-detached dwellings and a standalone home will make way for the&nbsp;Bureah SRH-designed, five-level building that will offer a mix of one, two and three-bedroom apartments.

The sole one-bed spans 60 sqm, the two-bed apartments start from 77 sqm and the three-bedroom units from 110 sqm. They will sit above 25 parking spaces.

Architect Simon Hanson's&nbsp;Bureah SRH said in their submissions to the Woollahra Council that the project is designed to integrate into the site and the locality and reflect the style and design of character provided for in the Council's future vision for the area.

"The project has grown through a thoughtful design process which has fundamentally addressed the demand for quality outcomes for residents and the wider Eastern Suburbs community," the report noted.

"The design concept for this proposal has grown simultaneously from the consideration of the surrounding natural landforms and future urban requirements. The development strives to enhance and engage the public domain through a range of architectural devices. The articulated built form establishes a significant street presence. The site is situated on a major intersection of Victoria Road and Old South Head Road.

"Architectural devices such as fixed horizontal privacy screens, planter boxes create a distant presence busy street frontage and provide an acceptable level of privacy protection. The relationship between the apartments and the public domain is further enriched by an open landscaped private open space on ground floor and large balconies on the upper levels."

Mark Alexander and Eugene Shaw have worked in the area before. Their most recent project was on Boronia Road where they developed the luxury Tesoro building.

Mark Alexander and Eugene Shaw have worked in the area before. Their most recent project was on Boronia Road where they developed the luxury Tesoro building

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