2009 has seen NFPs successfully forge ahead with low and medium rise boutique village developments while private operators have been struggling. Often the NFPs kick off with a valuable property in a prime location, the best example being the Royal Freemasons Redmond Park development in Carlton (20 minutes from Melbourne CBD) with 61 apartments/ILU's. Just completed, it has only three ILU's unsold, each around $750,000. The Freemasons engaged Tracey Forbes and John Prowse (Prowse Consulting) to manage the project. Southern Cross (SA) in Adelaide is building luxury apartments at Myrtle Bank and has just invested another $8 million buying a 24,000 sqm site across the road.
NSW delivered big development lift: Seniors Housing bonus in R1, R2 and R3 zones part of new NSW Transport Oriented Development planning reforms
The call by planners to include seniors housing in the new building zones around 37 railway stations as part of changes to the Housing SEPP has been agreed. The seniors housing bonus, which includes bonus floor space incentives of between 15% and...