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27 June 2025
In this Edition...
1. Sydney Metro Martin Place Integrated Station by MACQUARIE GROUP takes out the 2025 Urban Taskforce Development of the Year
2. NSW Budget 2025-26 - Minister Scully thinks outside the box with Pre-sale Finance Guarantee
3. Budget confirms NSW falling behind National Housing Accord target
...and much, much more.
4. Goldmate case - what happens when a government puts the cart before the horse
5. Quote of the Week
6. Victoria on track to meet Housing Accord Target – NSW is where the problem lies
7. Urban Property Group delivers first development under Infill Affordable Housing Bonus Scheme
8. Special Purpose Vehicles as a model for social and affordable housing
9. Commonwealth fast tracks $1.7 billion in infrastructure funding to Councils
10. More BTR for Parramatta
11. Queensland Budget looks to foreign investment
12. South Australian Government release tender for Modern Pre-Fab Homes
13. Development Excellence Awards
14. Council Watch
15. Members in the news
1. Sydney Metro Martin Place Integrated Station by MACQUARIE GROUP takes out the 2025 Urban Taskforce Development of the Year
The development seamlessly integrates a major interchange for Australia's first fully accessible, automated driverless train network, with two commercial towers, public plazas, and retail and dining spaces.
The integrated station development was delivered through a public-private partnership led by Macquarie Group, with Lendlease as the design and construction contractor.
It is a remarkable addition to Sydney’s urban landscape.
Over six years, 10,000 workers and 10-million hours were invested to create this future-focused precinct. The multidisciplinary development combines innovative design, construction, engineering and safety practices, to deliver enhanced outcomes, with sustainable features, public art and First Nations interpretive elements integrated throughout.
The precinct is designed with a 100-year minimum design life and targets 6 Star Green Star and 5.5 Star NABERS Energy ratings.
Through a development characterised by transparency, collaboration and innovation, the project has created spaces that enhance connectivity and community in Sydney's CBD, delivering on Macquarie Group’s commitment to create a place for everyone.
Form and function combine to make this a standout winner in 2025.
Judging Panel Chair – former NSW Government Architect and former CEO of Urban Taskforce, Chris Johnson AM, praised the development.
Macquarie Group's Michael Silman, Global Head - Corporate Real Estate
To read more on other category winners and see photos from the night, see story 13
The special guest for the night was DPHI Secretary Kiersten Fishburn. Ms Fishburn delivered a strong speech, highlighting the many policy initiatives and process improvements implemented to date.
These included:
- The Infill Affordable Housing bonus
- The Low and Mid-rise housing reforms
- The Tier 1 (Accelerated Precinct) TODs and the Tier 2 TODs
- The establishment of the Housing Taskforce to reduce the number of referrals and speed up concurrences
- The establishment of the Housing Delivery Authority (HDA) along with funding to ensure it copes with the strong demand
- The establishment of the Investment Delivery Authority (IDA)
- The development of the Pattern Book
- The budget announcement of the new Pre-Sale Guarantee to be administered by the Land and Property Division of DPHI
The packed room was left with no mixed messages. The theme and the words were clear. DPHI is driving cultural change and is absolutely focussed on delivering faster approvals that are feasible to construct.
Secretary Fishburn was open to speaking with a wide range of industry members and was an absolute hit as the guest of honour on the night.
2. NSW Budget 2025-26 - Minister Scully thinks outside the box with Pre-sale Finance Guarantee
The standout announcement in this year’s budget was the decision to use the Government’s financial strength to go guarantor on up to 50% of a housing project to reduce risk and finance costs – and by doing so accelerate the supply of much needed private sector housing.
Urban Taskforce has been urging the Government to adopt smarter ways to support the private sector deliver housing – and the Pre-sale Finance Guarantee is exactly the sort of response we were after.
The Premier, Treasurer and Planning Minister deserve plaudits for not just listening to industry, but for understanding how risk and finance impacts the delivery of housing.
Using the Government’s balance sheet to help de risk investment and accelerate housing supply is the sort of thinking outside the box we need to solve the supply crisis.
Urban Taskforce is advised that the Government will establish criteria and the program, then seek EoI’s from the development community, to be assessed by the Government’s Property and Development NSW.
Deputy Secretary and Head of the Land and Property division of DPHI, Leon Walker, was out this week talking up the program – so there is s bit of momentum and excitement emerging around the initiative, which expected to start accepting applications by the end of 2025.
While the Treasurer was handing down the Budget, Urban Taskforce CEO Tom Forrest was explaining to the media the significance of the announcement.
The Government claims the $1 billion fund will stand behind the delivery of a further 15,000 new homes over the next 5 years that may not have been delivered. Imagine if the Federal Government decided to match or better this fund?
Even so, the State scheme announced this week would complement the Commonwealth’s Help to Buy Scheme – the former addressing supply, while the latter underpinning demand. As Tom Forrest told 2GB’s Clinton Maynard
It’s a good idea that delivers housing at next to zero cost or risk for the NSW taxpayer. As Tom told ABC Sydney’s Chris Bath.
The announcement capped off a solid budget, including the creation of the Investment Delivery Authority, new WIK guidelines, extension of BTR tax concession, continued investment in the work of the HDA, as well as signing off on several key infrastructure pieces in Western Sydney.
Other budget highlights for DPHI include:
- $83.4 million for additional planning resources in assessment and compliance teams to accelerate planning approvals and speed up the delivery of homes, including $10.6 million to continue the work of the Housing Delivery Authority
- $17.7 million to establish and support the work of a new Investment Delivery Authority (IDA)
- $145 million to fund the NSW Building Commission – confirming the Building Commission’s role with a significant boost to its funding
- $20.9 million to support regional councils to bring forward critical enabling infrastructure for new homes during the National Housing Accord period, by funding interest on loans
- $7.6 million to continue the NSW Government’s land audit.
There was some disappointment associated was the glacial pace on the delivery of road and water infrastructure in Western Sydney. The absence of a water infrastructure to support housing supply in Appin was particularly disappointing.
The housing supply crisis cannot be solved through infill alone.
This is compounded by the ongoing impact of the high levels of fees, taxes and charges in NSW. Even a relatively minor shift of the HPC from start of construction to end of construction, a key recommendation of the NSW Productivity and Equity Commission, is still on the table and not yet agreed. As CEO Tom Forrest told The Australian:
Urban Taskforce will continue to push for critical reform as part of the broader changes contemplated in the review of the planning act, as well as in the broader context of the Commonwealth’s productivity summit.
3. Budget confirms NSW falling behind National Housing Accord target
With DPHI not updating their housing supply/activity dashboards for 12 months now, the Urban Taskforce Research Team was left to trawl through Budget Paper No 1.
In our search for nuggets of intellectual gold, this much favoured bedtime story revealed what the NSW Treasury thinks – forecasting only 240,000 new homes by the end of the Accord period in June 2029. Treasury have done some pretty plain speak’n on their views on housing supply:
The work on supply has been positive, but there’s more to be done.
Any policy, program, regulation, code or initiative should be explicitly measured against whether it impacts positively or negatively on housing supply. This should be a mandated section for every Cabinet minute considered by the Minns Government.
The Treasury revelation should be a spur to the Minns Government to sort out the moribund mess that is the EP&A Act. Working with the Opposition is positive, but we need to progress these reforms and deal swiftly with any council which abuses planning controls to undermine State housing policy or programs.
The NSW Opposition seized on the forecast under-supply in the Budget papers, with Opposition Leader Mark Speakman noting in his response to the Budget that financial feasibility in infill and greenfield was a handbrake on supply, made worse by the Minns Government’s refusal to ease up on taxes and charges.
Together with stamp duty reform, boosting Government support for housing enabling infrastructure – the Opposition is beginning to show they understand much that is holding back supply.
But equally for them, they need to be championing reform of the Planning Act, providing bipartisan support for the Housing Delivery Authority and the new Investment Delivery Authority, and ensure Opposition MPs are not running protection rackets for councils in their electorates.
4. Goldmate case – what happens when a government puts the cart before the horse
Not the way to go about things…
CEO Tom Forrest spoke to the Daily Telegraph on TfNSW’s recent behaviour in compulsory acquisitions, low balling compensation figures and then using taxpayers’ money to go to the High Court to try to thwart a Court of Appeal case that found the original L&E court decision was based on errors of law.
Compulsory acquisition grants the State significant powers and the fact that Government Departments have been misusing these powers needs to end.
ABC Sydney radio’s Chris Bath spoke to CEO Tom Forrest on the reasons behind the legal and policy disaster that unfolded in Sydney’s West.
The Government has suggested legislative remedy. That is not required. Simply a message to TfNSW to play by the rules (and a bit of competency from the rest of Government).
5. Quote of the Week
Shane Wright, senior economics correspondent for the Sydney Morning Herald and The Age, penned an excellent article outlining the unfair impacts of the overweening and prescriptive regulations around planning, design regulation and construction have had on those simply wanting a roof over their head or to live in a suburb with good amenity.
Shane Wright iterates many of the points raised by Urban Taskforce when it comes to ‘the haves’ dictating to ‘the have nots’ on how they should live and the exact type of housing they should want.
We couldn’t agree more.
6. Victoria on track to meet Housing Accord Target – NSW is where the problem lies
The AFR’s Myriam Robbin has penned an extensive analysis 1 year on from the commencement of the National Housing Accord. Myriam spoke with CEO Urban Taskforce Tom Forrest on NSW which, when it comes to meeting National Housing Accord targets, unfortunately remains the “sick man of Australia”.
The article notes the forensic assessment of housing supply data, costs and constraints for which Urban Taskforce Australia is renowned. The article also digs into our recent policy paper, What Makes Housing So Expensive?
The article correctly states that NSW needs to deliver one third of the housing across the nation, and we are only outperforming Tasmania and the Northern Territory when it comes to predicted housing supply against the 5 year Accord targets.
7. Urban Property Group delivers first development under Infill Affordable Housing Bonus Scheme
The NSW Premier with the Urban team
Urban Taskforce Member Urban Property Group’s development in North Strathfield, The Halston, has become the first housing development to be delivered under the Minns Government’s Infill Affordable Housing Bonus Scheme.
The development delivers 29 affordable homes and 143 market homes. Under the scheme, an additional 41 extra homes were able to be delivered using the Government’s height and density bonuses. 29 of the additional homes are “affordable houses”.
Urban CEO Patrick Elias said the project marked a cornerstone in property development and reflected the company's commitment to creating inclusive and vibrant communities.
From day one, Urban Taskforce has backed the Government’s infill affordable housing bonus scheme as the smart way of delivering more housing and more affordable housing.
Where affordable housing taxes stifle feasibility and lead to less market and little affordable housing, today’s announcement demonstrates the Infill Affordable Housing Bonus scheme is working.
Urban Taskforce is advised that, to date, 39 SSD applications lodged utilising the infill affordable housing provisions of the Housing SEPP, with 18 of these already approved. The 18 approvals will deliver 3,964 homes, of which 1,308 are affordable.
This is a great news story and its success derived from the policy requirement that affordable housing is linked to the uplift in height and density and applies for 15 years (not simply a hand over of the keys as an in-perpetuity gift (or tax)).
This policy is a tremendous success and should be praised accordingly.
8. Special Purpose Vehicles as a model for social and affordable housing
Member Gilbert and Tobin have written an article on why a special purpose vehicle (SPV) is a popular model for social and affordable housing projects, highlighting some of the unique challenges an SPV and its
parent Community Housing Provider can face in project development and delivery – both at a commercial and regulatory level.
A worthwhile read for anyone in this space, outlining a fast-moving sector that has been supercharged by the Federal Government’s Housing Australia Future Fund.
9. Commonwealth fast tracks $1.7 billion in infrastructure funding to Councils
Federal Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King MP
Federal Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King MP, this week announced the Albanese Government is bringing forward over $1.7 billion in its Financial Assistance Grant Program – 50% of the 2025-26 allocation being released before June 30.
While these are untied grants, we strongly urge metro councils to direct these funds to housing enabling infrastructure. Housing comes up consistently as the number one issue for communities right across the nation. Hopefully Councils are listening.
10. More BTR for Parramatta
News this week that Urban Taskforce member Roxy-Pacific and their JV Partner TE Capital reached a key milestone in their 33 Argyle St Parramatta project – with DPHI approved their concept development application (lodged in 2024 but patience is a much-needed virtue within the development community!)
The approval is an important step forward for the proposed tower – consisting of a five-storey commercial podium and a 55 storey residential development delivering 332 build to rent apartments.
Less than 500 metres to Westfield Parramatta Station, Light Rail and the to be delivered Western Metro – this is a key development in the Parramatta CBD.
Next step will be Design Competition followed by detailed DAs addressing design, materials and operational planning.
With fellow Urban Taskforce members Urbis as the project's planners and Turner Studio as the architects, this is a development that Parramatta needs.
11. Queensland Budget looks to foreign investment
The Queensland Crisafulli led Government delivered its first budget this week. The strongest initiative was the encouragement of foreign investment in identified areas (such as high-density housing) by speeding up the process to waive foreign land tax surcharges.
Qld Treasurer Janetzki
Australia needs all the investment it can get when it comes to new housing. A good measure from the new Government north of the Tweed. Good to see at least one State Government see foreign investment as a positive, not a negative to be taxed.
12. South Australian Government release tender for Modern Pre-Fab Homes
The South Australian Government's pilot project will see homes, or key components such as floors, walls, and roof panels, manufactured off site before being assembled in both regional and metropolitan locations across South Australia.
This approach is designed to significantly reduce build times while maintaining high standards of quality and design.
The tender is expected to launch in July, giving proponents time to prepare for the process.
13. Development Excellence Awards 2025
And the winners are ...
Sydney Metro Martin Place Integrated Station by MACQUARIE GROUP
"This amazing development has constructed a new metro station and two large commercial towers while integrating with the heritage 50 Martin Place building. The buildings, constructed by head contractor Lendlease, are 6 star Green Star with 100% renewable energy and were constructed around live Sydney train tracks. Three top architects were involved including Grimshaw, JPW, and Tzannes and resulting in a city making project."
Hospitality Development – Veriu Macquarie Park by HOLDMARK
“Veriu by Holdmark is a well-designed boutique hotel with 184 rooms in Macquarie Park, located 200 meters from the Macquarie Park Metro station.
The first 10 floors have triple glazing to handle car noise on Lane Cove Road. The hotel has been ranked Number One in the Guest Reputation Management Index.”
Retail Development – Leppington Village Woolworths by FABCO PTY LTD
“This project includes a large supermarket and 29 local businesses including a GP, Dentist and Cafes. There are 768 solar panels and awnings cover the car parking to reduce heat load. A successful placemaking project showing the significant development of thought around our larger retail outlets.”
Build to Rent Development – Indi Sydney by INVESTA
“This 38-level tower over Gadigal Station at Town Hall was developed by Investa for Oxford Properties with 234 apartments. 5-star green star and utilizing a BTR green Loan.
This is a great example of development stimulated by Sydney’s new Metro rail network.”
Social/ Affordable Development – 35-41 Addison Road, Marrickville by SGCH and IDC/Tricon.
“This worthy winner has led the transformation of Marrickville’s old industrial precinct with mid-rise apartments including 48 social and 13 affordable units on a corner site. It has a communal roof top and was opened by the Prime Minister Anthony Albanese.”
Highly Commended Health Social Infrastructure
“The Macarthur Health Precinct development includes a fully electric, 4 storey cancer and health centre based on Biophilic Design and crowned by a wellness centre. It’s the first cancer centre in Australia to target 6 Star Green Star. Flowing architecture with vertical bronze fins.”
High Rise City Development - One Sydney Harbour by LENDLEASE and MITSUBSHI ESTATE ASIA
“This stunning high-rise development was designed by Renzo Piano and is Australia’s first carbon neutral project with 6 Star Green Star rating. One Sydney Harbour is the final piece of the transformation of Barangaroo South, alongside Hickson Park and Waterman’s Cove. Accommodating 848 apartments, including 50 Key Worker Housing, the striking three towers are 72, 68 and 30 storeys. Setting a new benchmark for luxury residential living in Australia, and globally. This fabulous development features special low iron glass with double glazed windows that can be naturally ventilated.
Low Rise Residential Development – The Henley by TIAN AN LFD
“This Low-rise residential development winner features 70 terrace Houses with 3 to 4 bedrooms with quality landscaping and an outdoor communal area designed by DKO architects. Setting new standards for terrace housing. The project was built by the Decode Group.”
Highly Commended Low Rise Residential Development – THE ARCHWOOD RESIDENCES by Mayrin Group
“This project shows the strength of our smaller developers and this winner includes 42 townhouses incorporating locally sourced sandstone. Built by Growthbuilt, the project includes flowing curved brickwork blends the buildings into the landscape. Includes a dedicated affordable housing unit.”
High Rise Metro Development – Paramount on Parkes by ALAND
“ALAND’s 46 storey development at Harris Park has delivered 331 high quality apartments and 3,600 sqm of commercial development on levels 40 to 45. The L shaped tower with maximum north facing and rooftop PVs.
This project represents the quality of development which is now evident across Western Sydney and nowhere better than this ALAND development.
Medium Rise Metro Development – The Ashbury Terraces – Stage 1 by CORONATION PROPERTY
“Coronation have delivered a stunning development at Ashbury including 136 apartments and terrace garden homes designed by SJB. They have utilized brickwork to respond to the historic context with a curved elevation. The project sets a new benchmark for urban living and is a worthy winner.”
Highly Commended Medium Rise Residential Development. Munro House by ETERNO PROPERTY GROUP
“Eterno Property’s Munro House incorporates 30 luxury residences in Elizabeth Bay with curving brick walls that reflect the “Streamline Moderne” style of earlier buildings in the area. Munro House incorporates indoor and outdoor living along with a Sensory Garden on the rooftop level.”
Seniors Living Development – The Langlee by MIRVAC
“The Langlee by Mirvac has produced a 6 storey luxury development with 55 apartments for the over 55s in Sydney’s Eastern Suburbs. The previous Waverley Bowling Club has been converted into a Wellness Centre. A commercially successful project and a worthy winner of the Seniors’ Living Development of the year.”
Adaptive Reuse Development – Rosebery Engine Yards by GOODMAN
“The Rosebery engine yards was a neglected heritage listed industrial building and it has been transformed by Goodman into a lifestyle precinct with retail and fashion outlets. Some historic and heritage gantry and machinery elements have been incorporated along with public art installations.”
Masterplanned Development – The Retreat Masterplan by MERITON
“The Retreat is a masterplanned community of 1,547 residences near Sydney Olympic Park, offering diverse housing, resort-style amenities, and retail. Completed in 2024, it caters to all buyer types and promotes sustainable, connected living with easy transport access and thoughtful integration into the evolving precinct.”
Urban Renewal – Wicks Place by TOGA
“Wicks Place by TOGA includes 270 quality apartments and a retail arcade in a 5 to 6 level development that has transformed an industrial precinct into a vibrant mixed use precinct. All the 3-bedroom apartments were sold before completion. The design includes a U-shaped building around a shared garden.”
Mixed Use Development – Tallawong Village by DEICORP
“Deicorp have completed 987 apartments at Tallawong Village with 50 being Affordable Housing along with 9,000sqm of retail apace. Located near Tallawong Metro Station, 5 star green star and solar collectors, this is a stunning example of placemaking delivered in conjunction with Landcom.”
Commercial Development - Festival Tower by WALKER CORPORATION
“This project revitalizes Adelaide's Festival Plaza with 45,000 sqm of A grade commercial. It is all electric and is fully leased to tenants including Allianz, Westpac and Flinders University. In a JV with the SA Government, Walker Corporation Redeveloped Festival Plaza including water features.”
Winner - Highly Commended Community Facility – Macarthur Memorial Park by CATHOLIC CEMETERIES AND CREMATORIA
“Macarthur Memorial Park is Sydney’s first new cemetery for 85 years and covers 113 hectares while respecting indigenous and colonial heritage. 8 dams from the 1850s, a slab hut from 1810 are balanced by striking new architecture by FJC studio.”
Congratulation to all winners and we look forward to profiling category winners over the coming months.
14. Council Watch
City of Sydney
Sydney City’s innocuous sounding “housekeeping amendments” to their DCP were not so innocuous – again misusing the EP&A Act to engage in good old fashioned social engineering.
While the “degasification” made the news (and earned a swift rebuke from the Planning Minister) issues around car parking (more social engineering) design requirements, liveable housing and dwelling mix mean that the City of Sydney continues to lead the way in using regulations to frustrate NSW Government housing policy while delivering only on their own pet issues.
While we had a few concessions, the social engineering steamroller apparently rolls on in the City of Sydney.
Part of the problem is that local Councils can create havoc through their Development Control Plans. This week we have City of Sydney and their crusade, last week we drew attention to Northern Beaches Council and their DCP amendments solely aimed at undermining the Minns Government’s low to mid rise reforms.
While they are only guidelines, they ultimately guide council decision making and represent a significant threat to housing supply and the cost of housing. They push reasonable applications for housing supply into the Land and Environment Court, adding to the cost and delaying the delivery of housing supply.
If Jim Chalmers and his economic team wants to get a quick appreciation of the misuse, or impact, regulations - look no further to the so called “City of Villages”. This is exactly what Shane Wright was calling our in his opinion piece in the SMH this week (see Quote of the Week).
We note this week Council is proposing further reform to impact “outdoor appliances” and new larger commercial buildings and hotels. The commercial building proposals will be open for public comment from 30 June to 28 July 2025.
15. Members in the news
*Please note these articles may be paywall protected
“… The machinery of government slows things down,” said Charles Daoud, a director of Traders in Purple, a privately owned developer with a $5 billion pipeline that ranges from luxury homes to affordable housing… read more…
To read more, click here: AFR, 20 June
“… The $107-million proposal by Develotek is now before the NSW Department of Planning, Housing and Infrastructure and on exhibition until August 10… read more…
To read more, click here: The Urban Developer, 20 June
“… Walker Managing Director and CEO David Gallant said the recent WELL certification reflects the company’s commitment to long-term sustainability and quality… read more …
To read more, click here: Architecture & Design, 24 June
“… Urbis chief economist Richard Gibbs said developers should prioritise transport-oriented developments and mixed-use projects to take advantage of the policy changes… read more ...
To read more, click here: The Urban Developer, 24 June
“… Hyecorp is planning a 28-storey tower with 125 apartments at a cost of $103 million for 37 Archer Street, Chatswood“… read more …
To read more, click here: The Urban Developer, 25 June
DISCLAIMER: All representations and information contained in this document are made in good faith. The information may contain material from other sources including media releases, official correspondence and publications. Urban Taskforce Australia Ltd accepts no responsibility for the accuracy of any information contained in this document.