Latest news with #TransportOrientedDevelopment
Sydney Morning Herald
4 days ago
- Business
- Sydney Morning Herald
Rosehill rejection: Why did ATC members look a gift horse in the mouth?
Not since 100-to-1 outsider Prince of Penzance defied the odds to win the 2015 Melbourne Cup has a result so deeply confounded established racing logic. The rejection by members of the Australian Turf Club of a $5 billion proposal to sell Rosehill Gardens Racecourse to the NSW government comes close. The prospect of 25,000 new homes on a site situated in the heart of Australia's fastest-growing region were stakes Premier Chris Minns had no option to mount. Under the National Housing Accord he has committed to delivering 377,000 new homes across NSW by 2029. Weigh up the racecourse's adjacency to a newly-constructed light rail network, a coming metro line and a surging jobs hub in Parramatta, and the odds looked impossible to ignore. The NSW government has made no secret of the centrality of housing supply to its agenda. From its establishment last year of the Housing Delivery Authority, through to its pursuit of its Transport Oriented Development initiative, its colours were clear and unambiguous. Recent measures by the premier to upscale the state's production of modular homes – and the contingent manufacturing jobs boost – only upped the stakes. As did the commitment from Peter V'landys, chief executive and board member of Racing NSW, to 'ensure the revenue derived from the [Rosehill] proposal is reinvested to benefit the racing industry as a whole'. Even these assurances couldn't get the proposal over the line. Nor did the prospect of around $2 billion in upgrades to other racetracks, or the sweetener of food, beverage and membership fee concessions. If I know punters' logic, the reason might lie in sentiment, rather than logic. Let me tell you why. Loading My grandpop, Harry, was a veteran of the 1945 New Guinea campaign. He would forlornly recall he was 'too tall' to be a jockey. Still, he remained a lifelong horseracing devotee. He lived in a fibro housing commission house in Granville, due to the state's last great housing shortage post-World War II. It was only five minutes from Rosehill racetrack, where he would periodically venture to, 'see a man about a dog'. Normally unassuming, Harry would harshly shush all of us grandkids when the races came on his 'transistor'. Either that, or he'd send us to the corner shop to buy him a packet of Rothmans Extra Mild cigarettes. 'Get some lollies' with the change he would add. When I was older, I asked Harry in gambling parlance what the 'tells' were in backing a horse trackside. 'Form be damned', he would rail. 'If you see a horse in the mounting yard sweating too much on a chilly day, give it a miss', he advised. 'Ears up, ears up!' That was his favoured sign. An alert, edgy horse was a sure bet, pop assured me.
The Age
4 days ago
- Business
- The Age
Rosehill rejection: Why did ATC members look a gift horse in the mouth?
Not since 100-to-1 outsider Prince of Penzance defied the odds to win the 2015 Melbourne Cup has a result so deeply confounded established racing logic. The rejection by members of the Australian Turf Club of a $5 billion proposal to sell Rosehill Gardens Racecourse to the NSW government comes close. The prospect of 25,000 new homes on a site situated in the heart of Australia's fastest-growing region were stakes Premier Chris Minns had no option to mount. Under the National Housing Accord he has committed to delivering 377,000 new homes across NSW by 2029. Weigh up the racecourse's adjacency to a newly-constructed light rail network, a coming metro line and a surging jobs hub in Parramatta, and the odds looked impossible to ignore. The NSW government has made no secret of the centrality of housing supply to its agenda. From its establishment last year of the Housing Delivery Authority, through to its pursuit of its Transport Oriented Development initiative, its colours were clear and unambiguous. Recent measures by the premier to upscale the state's production of modular homes – and the contingent manufacturing jobs boost – only upped the stakes. As did the commitment from Peter V'landys, chief executive and board member of Racing NSW, to 'ensure the revenue derived from the [Rosehill] proposal is reinvested to benefit the racing industry as a whole'. Even these assurances couldn't get the proposal over the line. Nor did the prospect of around $2 billion in upgrades to other racetracks, or the sweetener of food, beverage and membership fee concessions. If I know punters' logic, the reason might lie in sentiment, rather than logic. Let me tell you why. Loading My grandpop, Harry, was a veteran of the 1945 New Guinea campaign. He would forlornly recall he was 'too tall' to be a jockey. Still, he remained a lifelong horseracing devotee. He lived in a fibro housing commission house in Granville, due to the state's last great housing shortage post-World War II. It was only five minutes from Rosehill racetrack, where he would periodically venture to, 'see a man about a dog'. Normally unassuming, Harry would harshly shush all of us grandkids when the races came on his 'transistor'. Either that, or he'd send us to the corner shop to buy him a packet of Rothmans Extra Mild cigarettes. 'Get some lollies' with the change he would add. When I was older, I asked Harry in gambling parlance what the 'tells' were in backing a horse trackside. 'Form be damned', he would rail. 'If you see a horse in the mounting yard sweating too much on a chilly day, give it a miss', he advised. 'Ears up, ears up!' That was his favoured sign. An alert, edgy horse was a sure bet, pop assured me.
Yahoo
23-05-2025
- Business
- Yahoo
$20 million property trend creating sea of overnight multi-millionaires: 'Can be very lucrative'
Australian homeowners are becoming far richer thanks to a wild new property trend. Instead of selling just your humble abode, neighbours are banding together to sell their block to developers for much more money. That's what six houses on Mena Street in Sydney's North Strathfield are doing, and they could sell for a collective $20 million. Michael Murphy from McGrath Strathfield organised the deal and told Yahoo Finance home owners may not realise that recent rezoning had created new opportunities for residents to cash in on the trend. Murphy said the North Strathfield group was "quite opened-minded" when approached. Controversial mortgage practice costs homebuyer $30,000 after tiny pay increase: 'Unfair' Coles shopper 'stunned' after getting $50 item free due to little-known rule: 'Insane' Dad with no savings reveals surprising money message for struggling Aussies: 'Living pay to pay' He revealed that a home in the area, which the agent admitted wasn't as nice as the houses in this sextet, recently sold for just under $2.2 million. If they tried to go it alone, they could get a touch more than that, depending on buyer appetite. However, selling as a group means each household stands to earn $3.3 area where these six homes are in has recently been rezoned as part of the NSW government's Transport Oriented Development (TOD) Program. There are several regions across the city caught up in the program, which is designed to increase housing supply near new transport hubs. A new metro station is set to be created in North Strathfield and rezoning the area allows for more high-density living projects to be created. This isn't the only sale of its kind in the suburb at the moment, with another nearby lot encompassing 16 houses on three different streets. Similar state government programs in the past have spurred this type of property trend. NSW's Urban Activation Precinct Plan saw a group consisting of 25 homes in Sydney's Castle Hill try to sell their lot to a developer for an eye-watering $100 million in 2016. There was another group in the same suburb in the same year that had 90 homes in the collective, in a deal worth $360 million. Each individual homeowner for both deals were set to earn around $4 million each, which was nearly four times what the average house price of the suburb was nine years ago. John McGrath, from McGrath Real Estate, said at the time that this "megalot" trend is a win-win for everyone. "The great news is that separate to the actual need for more medium-to-high density living to simply fit everyone in; a lot of people actually want to live in apartments over houses these days anyway," he wrote. "So it's a great marriage between the practical needs of growing cities and the lifestyle preferences of their residents." Murphy told Yahoo Finance that these deals are all unique in how they're created. Sometimes the neighbours will do the hard work themselves by convincing each other to sell as a group. Other times, it's up to the real estate agents to see if they can get a group going, while developers have also been known to door-knock homes in an area to see if there's any appetite. "For some homes in the area that have been newly built and may be on smaller blocks, it's not as lucrative," he said. "But if they're on a decent land parcel with more of an original style home, then there's definitely a major uplift." He added that 171 areas have been rezoned recently across Sydney to allow for these megalot deals to happen within 800 metres of a town centre or train station. Murphy said if you live in one of those rezoned areas, it's worth speaking to a town planner, real estate agent, solicitor or council representative to understand how their land value might have changed as a result. "Every owner's circumstances is different, and they obviously need to weigh up what's best for their scenario," he told Yahoo Finance. But the agent revealed there is one small downside to selling as a group to a developer rather than just by yourself. "Selling to a developer is generally a longer settlement period. A normal settlement periods is around that 42 day or six week mark. "However, for an amalgamation, generally, it could be anywhere ranging from six months up to 24 months. "Most developers will will want a longer settlement period so that they can organise funding and start to prepare their development application with a local council." He said some deals have been done faster than that time frame, but usually it takes a lot of moving parts to align for the deal to be fully in to access your portfolio
The Advertiser
19-05-2025
- Business
- The Advertiser
More than 20 Hunter residential developments apply for streamlined status
More than 20 large residential developments in the Hunter have been put forward to the government's new Housing Delivery Authority (HDA), in an effort to boost local housing supply by streamlining the planning process. In less than six months, 22 Hunter projects have been submitted to the HDA. Of those, 12 have been assessed and four have been declared a State Significant Development which if approved would create more than 400 dwellings in total. A 12-storey, 140-apartment complex has been proposed for the old Channel 10 building on Darby Street, while the Ibis Hotel at 700 Hunter Street could be demolished to make way for 165 units. The plans for a medium-density 56-unit building in the heart of Nelson Bay and a 50-apartment building on the corner of Maitland Road and May Street in Islington have also been declared state significant. NSW Department of Planning, Housing and Infrastructure secretary Kiersten Fishburn said the HDA take up by Hunter developers had "been quite extraordinary". "Historical data shows there are typically 80 to 100 developments of this nature submitted each year across the state, so to already have 22 in the Hunter alone is not an insignificant amount," Ms Fishburn said. The HDA assessed developments against specific criteria including being well located and free of constraints, while applications with an affordable housing aspect will be "looked upon favourably". Once declared state significant, projects must begin the planning process within nine months. Once approved, construction must start within two years. Ms Fishburn, who also sits on the HDA panel, insisted the process was not a "tick and flick" and several Hunter applications had already been knocked back. The HDA is expected to work hand in glove with the Transport Oriented Development (TOD) program, which allows for six- to eight-storey apartment buildings within 400 metres of selected train stations. Developers are yet to show any interest in the nine Newcastle and Lake Macquarie TODs, however Ms Fishburn is not concerned. Sydney TODs had recently seen a "rapid response" from developers and she "anticipated much the same in the Hunter". "It only came into place nine months ago, so it takes a while for any rezoning or planning change to take effect," she said. "Developers need to find the land, purchase blocks and get a development application together, which all takes time." The only TOD to show progress in the Hunter is Cockle Creek, where a plan led by the state government would deliver 1200 medium-density homes on the 12-hectare site next to Costco if approved. Ms Fishburn hoped the project, which is being developed by the government's Hunter and Central Coast Development Corporation, would be a shining example of what could be achieved within the region's TODs. "The beauty is when we've got government land, it gives us the opportunity for a best-practice development," she said. More than 20 large residential developments in the Hunter have been put forward to the government's new Housing Delivery Authority (HDA), in an effort to boost local housing supply by streamlining the planning process. In less than six months, 22 Hunter projects have been submitted to the HDA. Of those, 12 have been assessed and four have been declared a State Significant Development which if approved would create more than 400 dwellings in total. A 12-storey, 140-apartment complex has been proposed for the old Channel 10 building on Darby Street, while the Ibis Hotel at 700 Hunter Street could be demolished to make way for 165 units. The plans for a medium-density 56-unit building in the heart of Nelson Bay and a 50-apartment building on the corner of Maitland Road and May Street in Islington have also been declared state significant. NSW Department of Planning, Housing and Infrastructure secretary Kiersten Fishburn said the HDA take up by Hunter developers had "been quite extraordinary". "Historical data shows there are typically 80 to 100 developments of this nature submitted each year across the state, so to already have 22 in the Hunter alone is not an insignificant amount," Ms Fishburn said. The HDA assessed developments against specific criteria including being well located and free of constraints, while applications with an affordable housing aspect will be "looked upon favourably". Once declared state significant, projects must begin the planning process within nine months. Once approved, construction must start within two years. Ms Fishburn, who also sits on the HDA panel, insisted the process was not a "tick and flick" and several Hunter applications had already been knocked back. The HDA is expected to work hand in glove with the Transport Oriented Development (TOD) program, which allows for six- to eight-storey apartment buildings within 400 metres of selected train stations. Developers are yet to show any interest in the nine Newcastle and Lake Macquarie TODs, however Ms Fishburn is not concerned. Sydney TODs had recently seen a "rapid response" from developers and she "anticipated much the same in the Hunter". "It only came into place nine months ago, so it takes a while for any rezoning or planning change to take effect," she said. "Developers need to find the land, purchase blocks and get a development application together, which all takes time." The only TOD to show progress in the Hunter is Cockle Creek, where a plan led by the state government would deliver 1200 medium-density homes on the 12-hectare site next to Costco if approved. Ms Fishburn hoped the project, which is being developed by the government's Hunter and Central Coast Development Corporation, would be a shining example of what could be achieved within the region's TODs. "The beauty is when we've got government land, it gives us the opportunity for a best-practice development," she said. More than 20 large residential developments in the Hunter have been put forward to the government's new Housing Delivery Authority (HDA), in an effort to boost local housing supply by streamlining the planning process. In less than six months, 22 Hunter projects have been submitted to the HDA. Of those, 12 have been assessed and four have been declared a State Significant Development which if approved would create more than 400 dwellings in total. A 12-storey, 140-apartment complex has been proposed for the old Channel 10 building on Darby Street, while the Ibis Hotel at 700 Hunter Street could be demolished to make way for 165 units. The plans for a medium-density 56-unit building in the heart of Nelson Bay and a 50-apartment building on the corner of Maitland Road and May Street in Islington have also been declared state significant. NSW Department of Planning, Housing and Infrastructure secretary Kiersten Fishburn said the HDA take up by Hunter developers had "been quite extraordinary". "Historical data shows there are typically 80 to 100 developments of this nature submitted each year across the state, so to already have 22 in the Hunter alone is not an insignificant amount," Ms Fishburn said. The HDA assessed developments against specific criteria including being well located and free of constraints, while applications with an affordable housing aspect will be "looked upon favourably". Once declared state significant, projects must begin the planning process within nine months. Once approved, construction must start within two years. Ms Fishburn, who also sits on the HDA panel, insisted the process was not a "tick and flick" and several Hunter applications had already been knocked back. The HDA is expected to work hand in glove with the Transport Oriented Development (TOD) program, which allows for six- to eight-storey apartment buildings within 400 metres of selected train stations. Developers are yet to show any interest in the nine Newcastle and Lake Macquarie TODs, however Ms Fishburn is not concerned. Sydney TODs had recently seen a "rapid response" from developers and she "anticipated much the same in the Hunter". "It only came into place nine months ago, so it takes a while for any rezoning or planning change to take effect," she said. "Developers need to find the land, purchase blocks and get a development application together, which all takes time." The only TOD to show progress in the Hunter is Cockle Creek, where a plan led by the state government would deliver 1200 medium-density homes on the 12-hectare site next to Costco if approved. Ms Fishburn hoped the project, which is being developed by the government's Hunter and Central Coast Development Corporation, would be a shining example of what could be achieved within the region's TODs. "The beauty is when we've got government land, it gives us the opportunity for a best-practice development," she said. More than 20 large residential developments in the Hunter have been put forward to the government's new Housing Delivery Authority (HDA), in an effort to boost local housing supply by streamlining the planning process. In less than six months, 22 Hunter projects have been submitted to the HDA. Of those, 12 have been assessed and four have been declared a State Significant Development which if approved would create more than 400 dwellings in total. A 12-storey, 140-apartment complex has been proposed for the old Channel 10 building on Darby Street, while the Ibis Hotel at 700 Hunter Street could be demolished to make way for 165 units. The plans for a medium-density 56-unit building in the heart of Nelson Bay and a 50-apartment building on the corner of Maitland Road and May Street in Islington have also been declared state significant. NSW Department of Planning, Housing and Infrastructure secretary Kiersten Fishburn said the HDA take up by Hunter developers had "been quite extraordinary". "Historical data shows there are typically 80 to 100 developments of this nature submitted each year across the state, so to already have 22 in the Hunter alone is not an insignificant amount," Ms Fishburn said. The HDA assessed developments against specific criteria including being well located and free of constraints, while applications with an affordable housing aspect will be "looked upon favourably". Once declared state significant, projects must begin the planning process within nine months. Once approved, construction must start within two years. Ms Fishburn, who also sits on the HDA panel, insisted the process was not a "tick and flick" and several Hunter applications had already been knocked back. The HDA is expected to work hand in glove with the Transport Oriented Development (TOD) program, which allows for six- to eight-storey apartment buildings within 400 metres of selected train stations. Developers are yet to show any interest in the nine Newcastle and Lake Macquarie TODs, however Ms Fishburn is not concerned. Sydney TODs had recently seen a "rapid response" from developers and she "anticipated much the same in the Hunter". "It only came into place nine months ago, so it takes a while for any rezoning or planning change to take effect," she said. "Developers need to find the land, purchase blocks and get a development application together, which all takes time." The only TOD to show progress in the Hunter is Cockle Creek, where a plan led by the state government would deliver 1200 medium-density homes on the 12-hectare site next to Costco if approved. Ms Fishburn hoped the project, which is being developed by the government's Hunter and Central Coast Development Corporation, would be a shining example of what could be achieved within the region's TODs. "The beauty is when we've got government land, it gives us the opportunity for a best-practice development," she said.
Zawya
15-05-2025
- Business
- Zawya
Oman: Bids invited to design a breakwater in Al Khuwair Downtown
Muscat: The Ministry of Housing and Urban Planning (MOHUP) has invited bids to design and build marina infrastructure (breakwater) in the proposed Al Khuwair Downtown project. The scope of the project includes designing and building main breakwaters, designing and building low-crested breakwaters, and the protection of pipes coming from the Ghubrah desalination plant. The project will be situated near the desalination plant, adjacent to the current Ministries Area, which will remain intact but will undergo remodeling over time. Construction work on the project is expected to begin towards the end of this year and is expected to redesign the urban landscape of the country. Extending over 3.6 million sqm, the Al Khuwair Downtown project will include a cluster of buildings with 35 to 40 floors, a marina, a waterfront with beaches and sports facilities, and a canal. By 2040, the project aims to accommodate over 45,000 individuals, featuring 7,000 office units and metro railway connectivity. Throughout the compact and walkable development, Transport-Oriented Development (TOD) principles will encourage the use of public transportation with good connections to transit services underpinning smart mobility, including light rail transit, bus rapid transit, and water taxis. Pedestrian activity is encouraged by introducing passive shading and cooling to the public realm, alongside cycle infrastructure to improve the safety and usability of active transport modes, while capitalising on the carbon savings of minimising private vehicle use. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
