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

Urban Editorial

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."

Joel Robinson

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

Byron Bay's Jonson Street is set for a new $100 million mixed-use development.

Local <a href="https://www.urban.com.au/new-apartments/byron-bay-nsw">Byron Bay</a> developer, <a href="https://www.urban.com.au/developers/jd-property-group">JD Property Group</a>, has been approved for a luxury shoptop development at 119-123 Jonson Street, a 2,725 sqm block just 750 metres from Main Beach and on the corner of Jonson and Kingsley Street.

They'll launch the project, dubbed <a href="https://www.urban.com.au/new-apartments/secret-garden-119-123-jonson-street-byron-bay">Secret Garden</a>, this month.

Read more: <a href="https://www.urban.com.au/news/nsw/first-look-new-apartments-planned-for-byron-bays-jonson-street">First look: New apartments planned for Byron Bay's Jonson Street</a>

<a href="https://www.urban.com.au/news/nsw/first-look-new-apartments-planned-for-byron-bays-jonson-street"><img alt="Secret Garden" data-entity-type="file" data-entity-uuid="d8a152c7-32be-4813-b414-6b85991175f5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%209.05.01%20am.png?VersionId=03MVZS.3oyVl41AqHTxhzacPEbGsxbpR" /></a>

&nbsp;

<a href="https://www.urban.com.au/new-apartments/secret-garden-119-123-jonson-street-byron-bay">Secret Garden</a> is JD Property Group’s second premier Byron Bay development. Following the success of its flagship precinct, Jonson Lane, it promises to bring the spirit of the Byron Bay Hinterland to the centre of town with premium amenities, green spaces, and a personalised concierge service for residents.

Secret Garden will comprise 22&nbsp;apartments, including luxury penthouse suites, alongside 10 upscale retail and hospitality tenancies on the ground floor. The premium-grade retail space&nbsp;will showcase local talent, including top chefs, designers, and artisans, while bringing some of Australia’s leading brands to the Byron Bay township.

JD Property Group Managing Director and third-generation local, Jason Dunn, said the precinct aims to spotlight what makes Byron Bay uniquely special.

“As a proud local, I am excited to showcase the best of Byron in a world-class, luxury precinct,”&nbsp;Dunn said.

“Every element has been thoughtfully considered and designed. From partners to products, we have aimed to work with our local community at every stage. This includes partnering with a local landscape architect to incorporate natural vegetation in our expansive greenspaces, which account for more than 40% of the precinct’s ground floor area. We have also worked with a local designer to deliver a rustic, coastal, and authentic style emulating the Byron Bay coast and hinterland, not yet seen in residential apartment living.

“Secret Garden is a very different offering to others in the market and has been positively received by our community and stakeholders. We anticipate strong interest from residents and retailers.”

<img alt="Secret Garden" data-entity-type="file" data-entity-uuid="693766ea-1cfa-404a-abc6-0d6adaec163d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%209.05.35%20am.png?VersionId=Ppyt6WNxXgEKByRO.OJBI.bQnnONGouZ" />

From amenities to personalised service, Secret Garden will offer residents a hotel-style service experience. The precinct features premium communal spaces,&nbsp; such as a rooftop wellness centre including magnesium pool, sauna, meditation space, and spa. There's an exclusive terraces for residents, BBQ areas, and a teppanyaki grill. A private concierge will be part of the project.

With an eight-star average NatHERS (Nationwide Housing Energy Rating Scheme) score, Secret Garden is a fossil-fuel free residential development. Its sustainability credentials include high-performing internal features, like glazing, to regulate temperature; water-efficient fixtures and fittings; and a ventilation strategy that maximises fresh, clean indoor air.

<img alt="Pool" data-entity-type="file" data-entity-uuid="3d23a872-b6fe-445e-91e1-6e72dadaf73a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%209.05.08%20am.png?VersionId=fgXoCyEXa6ybwtizp_EHGAIyLSW4QhAk" />

“We are proud to be delivering a sustainable development that offers residents the choice of 100% renewable energy supply,” Dunn added.

“Our market-leading sustainability commitments are a true point of difference for our precinct.

“Sustainable design is a must for us, and we aim to celebrate and nurture our natural environment at every stage of the process. We hope to attract residents and retailers who share these values.”

The three-storey precinct is a collaboration with Australian architect, <a href="https://www.urban.com.au/architects/bayley-ward">Bayley Ward</a>, renowned local interior curator Island Luxe, and local landscape architect, LARC. It follows JD Property Group’s award-winning Jonson Lane project, which has around 80 per cent of its retail, restaurant, health, and wellness offerings serviced by local Byron-based brands.

Secret Garden will comprise 22 apartments, including luxury penthouse suites, alongside 10 upscale retail and hospitality tenancies on the ground floor

Byron Bay set for Secret Garden after luxury shoptop development gets approval

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

First look: New apartments greenlit on Bellevue Hill's dress circle Victoria Road

Developer <a href="https://www.urban.com.au/developers/toohey-miller">Toohey Miller</a>'s descent on Elizabeth Bay is set to continue with the approval of their second development in the harbourside suburb.

<a href="https://www.urban.com.au/developers/toohey-miller">Toohey Miller</a>, led by local&nbsp;Nick Couloumbis, has been given the green light for&nbsp;<a href="https://www.urban.com.au/new-apartments/4-4a-barncleuth-square-elizabeth-bay">Barncleuth Square</a>, a collection of just 10 large owner-occupier apartments designed by SJB with views over Ruushcutters Bay.

The project, at 4-4a Barnclueth Square, will replace a mid-1960s block with over 20 apartments, a block that took about 12 months to put together.

Couloumbis says&nbsp;Elizabeth Bay is a very desirable area.

"It's a stone's throw from the best restaurants in Sydney. Some people call it the Soho of Sydney,"&nbsp;Couloumbis says.

<img alt="Barncleuth Square site" data-entity-type="file" data-entity-uuid="483769aa-eb6e-4626-bc75-2868680f9377" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/BarncleuthSquare%20site.jpg?VersionId=.AI3BVN65yVj6.hzbEWJMqgtYBjZlZAb" />

In their Design Statement submitted to the City of <a href="https://www.urban.com.au/new-apartments/sydney-nsw">Sydney</a> Council, SJB said that Elizabeth Bay is part of the densest urban area in Australia with its own population of around 5,000 people.

"With limited space, many apartment buildings are vying for high levels of amenity," the report noted.

"This proposal offers relief to the density, with only 9 apartments proposed for the site."

The design is in keeping with the Art Deco apartment-style which boomed in the 1930s. A significant number of those buildings developed nearly a century ago are now heritage-listed.

SJB says the facades of the surrounding four to seven-storey apartment buildings&nbsp;are intricately detailed in playful arrays of textures and patterns.

<img alt="First look exclusive: Toohey Miller file for Elizabeth Bay 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/field/image/Screenshot%202023-05-22%20at%2012.27.08%20pm.png?VersionId=ubhuQzortjDY1z.evYQNZshchvZEk0Eg" />

Situated just a street back from Macleay Street, known as Sydney’s most desirable high street, Barncleuth Square’s five-storey brick design is in keeping with the evocative forms of its Art Deco neighbours.

Sustainability is a key focus of the project, with initiatives such as a green roof to reduce building energy, cross-ventilated apartments, and the use of locally sourced bricks from Australian manufacturers.&nbsp;

<img alt="First look exclusive: Toohey Miller file for Elizabeth Bay 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%202023-05-22%20at%2012.27.15%20pm.png?VersionId=T2XSoTbivDFWh4xaUSCXDbxJt4nArfXk" />

Toohey Miller has had a long history in Elizabeth Bay. Couloumbis' grandfather founded the company in 1955 when it was an architectural business.&nbsp;

Toohey Miller is currently developing <a href="https://www.urban.com.au/new-apartments/no-1-onslow-place-elizabeth-bay">No.1 Onslow Avenue</a> in <a href="https://www.urban.com.au/new-apartments/elizabeth-bay-nsw">Elizabeth Bay</a>. That has just six full-floor apartments, three of which sold within the first few weeks of its late 2023 launch.

They are also working in a joint venture with Third.i in the neighbouring <a href="https://www.urban.com.au/new-apartments/potts-point-nsw">Potts Point</a>, where they're currently developing <a href="https://www.urban.com.au/new-apartments/muse-potts-point-30a-34-brougham-street-potts-point">Muse Potts Point</a>, just 15 apartments off Victoria Street.

[smartcode_project_cta:default project_id=140184]

Toohey Miller is currently developing No.1 Onslow Avenue in Elizabeth Bay, as well as Muse Potts Point with Third.i



Toohey Miller greenlit for Barncleuth Square, Elizabeth Bay apartments

Affordability has continued to pinch budgets in Sydney, with unit value growth outstripping houses for the second month in a row.

CoreLogic's Home Value Index showed unit values in the harbour city jumped rose 0.6 per cent, compared to the 0.3 per cent growth in houses.

The median unit value in Sydney is now $844,000, having started the year at $828,000.

CoreLogic's research showed that across the country there's been robust growth in the lower-value segment of the property market remains evident.

Sydney in particular showcased resilience in its lower quartile and middle market, both witnessing a 1.7 per cent quarterly change in dwelling values (units and houses) compared to a more subdued 0.5 per cent increase in the upper quartile of dwelling values.&nbsp;

<h2>What happened in Sydney's off the plan apartment market in April?</h2>

First home buyers have been steadily returning to the off the plan apartment market following a period of mass exodus triggered by the Reserve Bank of Australia's (RBA) rapid interest rate hikes.

The surge in interest can be attributed in part to growing confidence that interest rates have likely peaked, coupled with an increase in the availability of more affordable housing options.

Over the past three months, the RBA has maintained a steady interest rate, and the expectation is, despite higher-than-expected inflation figures in Q1, that rates will start to come down a few times in 2025, if not earlier.

Dave Milton, CBRE Managing Director of Residential Projects, says they've seen first home buyer numbers increase by 11 per cent in the first four months of 2024 compared to 2023.

Most first home buyers are couples who are buying the more expensive two-beds, CBRE's data shows, happier to pay more for what they want rather than drop their requirements to fall under the government's stamp duty benefits.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/first-home-buyer-activity-lifts-across-sydneys-off-the-plan-apartment-market-as-interest-rates-steady">First home buyer activity lifts across Sydney's off-the-plan apartment market as interest rates steady</a>

There's also been strength at the top end of the market.&nbsp;<a href="https://www.urban.com.au/developers/first-quadrant-properties">First Quadrant Properties</a> and <a href="https://www.urban.com.au/developers/qualitas">Qualitas</a>&nbsp;have all but sold out the first stage of their new Willoughby apartment development,&nbsp;<a href="https://www.urban.com.au/new-apartments/willoughby-grounds-1a-27-walter-street-willoughby">Willoughby Grounds</a>.

All of the one and two-bedroom apartments have been snapped up in the first building, Fleming, which was designed to pay homage to the tanneries from the 1800s.

A big trend in the project has been the appetite from the four-bedroom stock. The team had to amalgamate apartments to keep up with the demand. Those were selling from around $3.5 million.

[smartcode_project:default project_id=135512 project_image_fid=251214]

Luxury developer&nbsp;<a href="https://www.urban.com.au/developers/central-element">Central Element</a>&nbsp;smashed all the records in&nbsp;<a href="https://www.urban.com.au/developments/coogee-nsw">Coogee</a> in April. They sold a three-bedroom penthouse in their heritage restoration project, <a href="https://www.urban.com.au/new-apartments/ballamac-house-39-arcadia-street-coogee">Ballamac House</a>.&nbsp;

The 241 sqm penthouse sold for just under $83,000 per sqm internally, and close to $90,000 per sqm when incorporating the 77 sqm of external space.

<img alt="Central Element smash Coogee apartment record with $20 million Ballamac House penthouse sale" 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/field/image/Ballamac%20House%20CGI_0.jpg?VersionId=y9oJVk2kQN42xUzbkw3AuB7gcU1LDqTP" />

<a href="https://www.urban.com.au/developers/top-spring-australia">Top Spring Australia</a> also broke price records in April at their <a href="https://www.urban.com.au/developments/st-leonards-nsw">St Leonards</a> South masterplan, <a href="https://www.urban.com.au/new-apartments/the-newlands-st-leonards-21-41-canberra-avenue-st-leonards">The Newlands</a>.

They amassed over $50 million in sales in April following the launch of the second stage of the parkside project. So far The Newlands has been a hit with owner-occupiers due to its positioning as offering a 'wellness utopia.'

A one-bedroom apartment was sold in the latest release for $1.25 million, while a two-bedder exchanged for $1.93 million and a three-bedroom with city skyline views for $4.09 million.&nbsp;

Top Spring Australia Managing Director, Sydney Ma, said the embedded sustainability and wellness elements in The Newlands were proving just as important to buyers as its proximity to the harbour and the new Metro station opening later this year.&nbsp;

[smartcode_project:default project_id=24509 project_image_fid=257585]

The final apartments in&nbsp;<a href="https://www.urban.com.au/buildings/the-grand-residences-eastlakes-16-evans-avenue-eastlakes">The Grand Residences</a> in <a href="https://www.urban.com.au/developments/eastlakes-nsw">Eastlakes</a>&nbsp;by &nbsp;<a href="https://www.urban.com.au/developers/crown-group">Crown Group</a> were released in April, offering a rare opportunity for prospective purchasers to buy into the prized Eastern Suburbs market at an affordable pricepoint.

Known for spacious apartments and top-tier amenities like a 25-metre heated pool, gym, and landscaped gardens, Crown Group continues its tradition of delivering premium living experiences.

[smartcode_project:default project_id=7652 project_image_fid=262600]

April also saw Fig &amp; Wattle, the new Pyrmont project by&nbsp;national developer <a href="https://www.urban.com.au/developers/landream">Landream</a>&nbsp;take a big step, with stage two development approval from the City of Sydney Council for the $330 million Wattle Street project.

Landream secured the 12,381 sqm site at 14-26 Wattle Street in 2021, previously known as Saunders Quarry and later as the City of Sydney Council depot.

The Pyrmont project is ready to take advantage of the $750 million of the Sydney Fish Markets at Blackwattle Bay, which following the redevelopment will create a major food and dining precinct for the area, just a stone's throw away from Wattle Street.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/landream-secure-stage-two-approval-for-their-330-million-pyrmont-apartment-project">Landream secures stage two approval for their $330 million Pyrmont apartment project</a>

<img alt="First look exclusive: Third.i plot luxe Rushcutters Bay 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/Screen%20Shot%202024-04-15%20at%207.50.24%20am.png?VersionId=NowrZKkiQQq3QA0TyqpDKdtdWqBapT6e" />

More plans were submitted near the Harbour in April as Luke Berry and Ron Dadd's&nbsp;<a href="https://www.urban.com.au/developers/thirdi-group">Third.i</a>&nbsp;has sought to create a luxury apartment development in <a href="https://www.urban.com.au/developments/rushcutters-bay-nsw">Rushcutters Bay</a>.

The $21.6 million development at <a href="https://www.urban.com.au/new-apartments/51-57-bayswater-road-rushcutters-bay">51-57 Bayswater Road</a>&nbsp;will comprise 12 apartments above two retail tenancies on the ground level.

<a href="https://www.urban.com.au/architects/woods-bagot">Woods Bagot</a> said the location presents an "outstanding opportunity to merge the development's rich Art Deco heritage with its natural surroundings, creating a harmonious blend of historical charm and modern amenities."

Billionaire James Packer is reportedly one of the financiers of the project.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/first-look-exclusive-third-i-plot-luxe-rushcutters-bay-apartments">First look exclusive: Third.i plot luxe Rushcutters Bay apartments</a>

There's been movement in the off the plan apartment market in April from Third.i, Landream, Top Spring and Central Element

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