Property developer Third.i Group and its joint-venture partner Phoenix Property Investors are poised to launch a major apartment tower over the recently opened Crows Nest Metro station, just north of the Sydney CBD.

Stage one at the Hume Place Metro Station, to be known as Elevate at Hume Place, will feature 130 one-, two-, and three-bedroom apartments designed in a contemporary style by major architectural firm Woods Bagot.

Prices start from $930,000 for the one-bedroom apartments with one bathroom but no car space.

Residents will be able to access the CBD within seven minutes, and the suburban hub of Chatswood within four minutes, given the tower’s proximity to the newly opened rail station beneath.

Stage two of the project, a mixed use development, is to be launched in 2025.

The tower will be pitched at first-time owners and investors, as well as downsizers wanting to be close to the Crows Nest Village.

According to the developers, a recent global study of the impacts that metro stations have on residential property on or directly next to metro stations, those properties can demand premiums ranging from 20 per cent to 30 per cent higher than neighbouring properties. Importantly for investors, a nearby metro can help secure 15 per cent to 20 per cent higher premiums in rents, compared to similar properties in the area.

“There are plenty of projects claiming close links to the Crows Nest Metro, but there is only one project getting built above it all,” said Third.i co-founder and director Luke Berry in a statement.

“Having Elevate built directly over the station is why this project will outperform any other local projects in the future …

“Elevate is also a one-of-a-kind development in terms of the value the metro will bring long- term to its owners.”

JLL Residential Project Sales will market the apartment block, which will be launched in next month.

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Luke Berry, Third.i. Co-Founder, said Muse Potts Point is set to redefine urban living with its “exceptional design and breathtaking views.”

Muse Potts Point, the rare new apartment development in the harbourside suburb, has kicked off its construction.

Developer Third.i and acquisition partner Toohey Miller have officially broken ground on the WMK Architecture-designed building that comprises just 13 one, two and three-bedroom apartments.

The apartments, with interiors crafted by Mathieson Architects, offer terraces with extensive views of the harbour and city skyline. The views are best captured from the communal resident rooftop which features a swimming pool and seating areas.

Dilcara has been appointed to deliver Muse Potts Point, with construction anticipated to complete by early 2026. Third.i and Dilcare have been working together for 15 years. Their joint project portfolio includes recent developments such as Third.i’s Botany Road project in Waterloo, Soho in Surry Hills, Cavallo in Kensington, and most recently the new Third.i head office in Crows Nest.

Muse is set to play a pivotal role in transforming Brougham Street, adding to a total of 35 new boutique apartments planned across approved and proposed developments.

Recent sales data shows that apartments on Brougham Street, both new and second-hand, currently average around $45,000 per square metre. In comparison, properties on Victoria Street average $70,000 per square metre, while those on Macleay Street/Darlinghurst Road range from $62,000 to $80,000 per square metre.

Luke Berry, Third.i. Co-Founder, said Muse Potts Point is set to redefine urban living with its “exceptional design and breathtaking views.”

“We are excited to enhance the area’s iconic landscape and offer a unique lifestyle experience, blending sophistication with the dynamic spirit of Muse’s surroundings,” Berry said.

“We are thrilled to embark on this groundbreaking journey and we can’t wait to bring this project to fruition.”

Based on recent data, Eastern Sydney suburbs, including Potts Point, continue to attract local buyers seeking premium properties in heritage locations with access to a variety of lifestyle amenities. Demand remains steady among prestige downsizers seeking their next home in Sydney’s East, with Potts Point gaining popularity due to its growth potential and local cultural offerings.

Berry emphasised the current opportunity for buyers to invest in Potts Point. “Now is the time to invest in Potts Point,” Berry added.

“With ongoing regeneration and community upgrades, property values are expected to rise. Sales are increasing on popular streets like Victoria and Macleay, while Brougham Street properties are priced at about a third to half the cost per square metre.

“Muse Potts Point offers access to the area’s lifestyle at a lower price, with additional rooftop views. High interest in premium properties makes this a unique opportunity to enjoy Potts Point’s exceptional offerings at an attractive value.”

Muse Potts Point is set to complete in March 2026 and welcome residents shortly after.

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Leading property developer Third.i Group and joint venture partner Phoenix Property Investors have announced the highly anticipated launch of Stage One at Hume Place Metro Station known as ‘Elevate.’

Situated directly above the recently opened Crows Nest Metro Station, this exceptional residential development will offer 130 one, two and three-bedroom contemporary apartments designed by internationally acclaimed architecture firm Woods Bagot.

Elevate is set to redefine urban living, providing residents with unparalleled connectivity to major commercial and residential precincts throughout Sydney. Residents will enjoy seamless access to the CBD in just seven minutes and Chatswood in four minutes, making it one of the most connected addresses on the lower North Shore of Sydney.

Elevate Hume Place will cater to a variety of purchasers from first time owners and/or investors to downsizers and right sizers wanting to be close to the Crows Nest Village and all this has to offer in terms of lifestyle and amenity and importantly benefit from the long term value that the Metro stations will bring to property owners.

A recent global study of the impacts that Metro stations have on residential property ‘on’ or ‘directly next’ to metro stations show that properties can demand premiums ranging from 20 to 30 percent higher in value than neighbouring properties and importantly for investors a metro can help secure 15 to 20 percent premiums in rents compared to similar properties in the area.

Luke Berry, Co-Founder & Director of Third.i, said, “Elevate at Hume Place is set to redefine urban living in this part of Sydney. It’s not only going to offer some of the best apartments ever released, Elevate is also a one-of-a-kind development in terms of the value the Metro will bring long term to its owners.

“There are plenty of projects claiming close links to the Crow’s Nest Metro, but there is only one project getting built above it all. Having Elevate built directly over the station is why this project will outperform any other local projects in the future”.

Third.i has appointed JLL Residential Project Sales as the project marketer and sales partner for Elevate. With an extensive international network and expertise in residential project marketing, JLL’s ability to successfully connect developers with both local and offshore buyers aligns perfectly with Thirdi’s vision for Elevate.

Luke Billiau, Head of Capital Markets – Australia and New Zealand at JLL, commented on the partnership: “We are excited to be partnering with Thirdi and Phoenix Property Investors on this groundbreaking project. Elevate represents the future of integrated transport-oriented development, and we’re confident it will attract significant interest from both local and international buyers.”

The appointment of JLL Residential Project Sales underscores the global appeal of Elevate, with JLL’s proven track record in successfully marketing high-profile developments and strong relationships with institutional and private investors across the globe instrumental in attracting international interest to the project.

As Sydney celebrates the metro opening, residents and visitors alike are encouraged to explore the new stations and experience the speed and efficiency of this world-class transport system.

The launch of Elevate in October will provide an exciting opportunity for those looking to be part of Sydney’s dynamic future, offering a unique blend of connectivity, innovative design, and sustainable living.

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Rail is continuing to prove a development driver in NSW with a ‘missing’ inland rail section approved and an over-station development launched, all in the past week.

Among the nation’s biggest infrastrucutre projects, the inland rail project will evenutally link Melbourne and Brisbane, and drive a logistics revolution of sorts along the east coast.

As part of the 1600km development, a 37km section from Illabo to Stockinbingal, in the South West Slopes and Riverina of NSW, has been approved.

The section was a missing link between the southern part of the line to Parkes, in the Central West, and the inter-modal junction that connects to Western Australia via South Australia.

Meanwhile, on the newly opened Metro City and Southwest line, joint-venture partners Third.i Group and Phoenix Property Investors have launched their over-station development at Crows Nest.

The project above the Crows Nest Metro Station, dubbed Elevate, was designed by Woods Bagot and comprises 130 apartments, and is part of Stage One of the Hume Place Metro Station development.

Close or co-location of homes to stations, known as “metro-fication”, has been shown to increase property values by 20 to 30 per cent or rents by 15 to 20 per cent.

Third.i director Luke Berry said this was a driving factor for creating Elevate, which was one-of-a-kind in terms of the value the Metro would bring long term to its owners.

“There are plenty of projects claiming close links to the Crows Nest Metro but there was only one project getting built above it all,” he said. 

“Having Elevate built directly over the station was why this project will outperform any other local projects in the future.”

North-South rail ‘ideal city shaper’

And the Western Sydney Regional Organisation of Councils (WSROC), the peak body representing councils in Greater Western Sydney, has welcomed the release of a previously confidential report commissioned by the Minns Government charting a path for building rail projects over the next two decades.

Despite gains along the rail line there was still a lot to be done to increase the number of residential developments further afield, WSROC said.

In the government report an “ideal assumption” of $4 billion a year in capital spending for future rail projects was outlined.

The spend could have allowed the extension of the Western Sydney Airport Metro line further south from the new city of Bradfield by 2032 as well as an extension of the heavy rail line from Leppington to Bradfield South by 2033.

This would be followed by a northern extension of the airport Metro line from St Marys to Schofields by 2037, and to Tallawong by 2039.

The report also envisaged an extension of the airport line from Bradfield South to Oran Park by 2047 at a cost of $5.1 billion, backing an earlier study commissioned by the Urban Development Institute of Australia.

WSROC president Barry Calvert said they had been advocating for the extension since the 1990s as by 2036 half Sydney’s population would live west of Parramatta.

“Successful global cities deliver city-shaping transport with integrated city-planning outcomes,” Calvert said.

“The need for a rail link is becoming more pressing with unprecedented growth in the region.

“An extra one million people are expected to live in Western Sydney by 2036 and a doubling of the population to 4.1 million by 2041.”

The Hawkesbury City councillor said one of the biggest challenges for Sydney is the struggle to retrofit transport corridors, after the demand for services has already exceeded existing infrastructure.

“Western Sydney’s story is already one of road dependence. A daily exodus of more than 300,000 residents endures Greater Sydney’s longest commute, mostly by car,” Calvert said.

“Such a crucial rail link would be a key piece in connecting the planning vision for the growing region’s current and future liveability.”

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Leading property developer Third.i Group and joint venture partner Phoenix Property Investors have announced the highly anticipated launch of Stage One at Hume Place Metro Station known as ‘Elevate’. 

Situated directly above the recently opened Crows Nest Metro Station, this exceptional residential development will offer 130 1, 2- and 3-bedroom contemporary apartments designed by internationally acclaimed architecture firm Woods Bagot.

Elevate is set to redefine urban living, providing residents with unparalleled connectivity to major commercial and residential precincts throughout Sydney. Residents will enjoy seamless access to the CBD in just seven (7) minutes and Chatswood in four (4) minutes, making it one of the most connected addresses on the lower North Shore of Sydney.

Carefully crafted by Woods Bagot, for both the exterior architecture and interior design, Elevate Hume Place will cater to a variety of purchasers from first time owners and/or investors to downsizers and right sizers wanting to be close to the Crows Nest Village and all this has to offer in terms of lifestyle and amenity and importantly benefit from the long term value that the Metro stations will bring to property owners.

A recent global study of the impacts that Metro stations have on residential property ‘on’ or ‘directly next’ to metro stations show that properties can demand premiums ranging from 20% to 30% higher in value than neighbouring properties and importantly for investors a metro can help secure 15 to 20% premiums in rents compared to similar properties in the area.

“Elevate at Hume Place is set to redefine urban living in this part of Sydney. It’s not only going to offer some of the best apartments ever released, Elevate is also a one-of-a-kind development in terms of the value the Metro will bring long term to its owners.

“There are plenty of projects claiming close links to the Crow’s Nest Metro, but there is only one project getting built above it all. Having Elevate built directly over the station is why this project will outperform any other local projects in the future.” Said Luke Berry, co-founder and director of Third.i. 

Third.i has appointed JLL Residential Project Sales as the project marketer and sales partner for Elevate. With an extensive international network and expertise in residential project marketing, JLL’s ability to successfully connect developers with both local and offshore buyers aligns perfectly with Thirdi’s vision for Elevate.

“We are excited to be partnering with Thirdi and Phoenix Property Investors on this groundbreaking project. Elevate represents the future of integrated transport-oriented development, and we’re confident it will attract significant interest from both local and international buyers.” Said Luke Billiau, head of capital markets – Australia and New Zealand at JLL. 

The appointment of JLL Residential Project Sales underscores the global appeal of Elevate, with JLL’s proven track record in successfully marketing high-profile developments and strong relationships with institutional and private investors across the globe was instrumental in attracting international interest to the project.

As Sydney celebrates the metro opening, residents and visitors alike are encouraged to explore the new stations and experience the speed and efficiency of this world-class transport system.

The launch of Elevate in October will provide an exciting opportunity for those looking to be part of Sydney’s dynamic future, offering a unique blend of connectivity, innovative design, and sustainable living.

Read More.

JOINT venture partners Third.i Group and Phoenix Property Investors are launching Stage One of their Elevate residential project at Hume Place Metro Station.

Elevate Hume Place is located directly above the recently opened Crows Nest Metro Station and comprises 130 Woods Bagot-designed one-, two- and three-bedroom apartments.

The development will target first time home buyers, investors and downsizers looking to live within close proximity of Crows Nest Village.

“Elevate at Hume Place is set to redefine urban living in this part of Sydney. It’s not only going to offer some of the best apartments ever released, Elevate is also a one-of-a-kind development in terms of the value the Metro will bring long term to its owners,” said Luke Berry, co-founder and director at Third.i.

“There are plenty of projects claiming close links to the Crow’s Nest Metro, but there is only one project getting built above it all. Having Elevate built directly over the station is why this project will outperform any other local projects in the future.”

Third.i has appointed JLL Residential Project Sales to market and sell Elevate.

“We are excited to be partnering with Thirdi and Phoenix Property Investors on this groundbreaking project,” said Luke Billiau, head of capital markets – Australia and New Zealand at JLL.

“Elevate represents the future of integrated transport-oriented development, and we’re confident it will attract significant interest from both local and international buyers.”

Last October, Third.i and Phoenix Property Investors announced they had reworked their Crows Nest Metro over-station project plans to provide frontline Sydney healthcare workers working at and around the Royal North Shore Hospital.

Metro stations have on residential property “on” or “directly next” to metro stations demand premiums ranging from 20% to 30% higher in value than neighbouring properties, according to a recent global study.

With investors in this type of property able to secure a 15% to 20% premium in rents compared to similar properties in the area.

While data from CBRE and PropTrack revealed suburbs along Sydney’s Metro line have experienced a 49% increase in capital value over the last 10 years, outperforming comparative suburbs by 5% on average.

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The tranformation of Crows Nest as one of the go-to suburbs on the Lower North Shore, is set to continue.

Leading property developer Third.i Group and joint venture partner Phoenix Property Investors have announced the launch of the first stage of Hume Place, its new four-building development above the recently opened Crows Nest Metro station.

The first stage of the development, Elevate at Hume Place, will offer 130 one, two, and three-bedroom apartments designed by the internationally acclaimed architecture firm Woods Bagot.

Crows Nest has become one of the most connected suburbs in the Lower North Shore. Residents of Elevate couldn’t be closer to the quiet, underground metro, which will take them to the CBD in just seven minutes, and to Chatswood in four.

Woods Bagot handled both the exterior architecture and interior design of Elevate Hume Place, an apartment development that will cater to a variety of purchasers from first time owners and/or investors to downsizers and right sizers wanting to be close to the Crows Nest Village and all this has to offer in terms of lifestyle and amenity and importantly benefit from the long term value that the Metro stations will bring to property owners.

A recent global study of the impacts that Metro stations have on residential property ‘on’ or ‘directly next’ to metro stations show that properties can demand premiums ranging from 20 per cent to 30 per cent higher in value than neighbouring properties.

Importantly for investors, a metro can help secure 15 per cent to 20 per cent premiums in rents compared to similar properties in the area.

Third.i Co-Founder and Director, Luke Berry, said Elevate at Hume Place is set to redefine urban living in this part of Sydney.

“It’s not only going to offer some of the best apartments ever released, Elevate is also a one-of-a-kind development in terms of the value the Metro will bring long term to its owners.

“There are plenty of projects claiming close links to the Crow’s Nest Metro, but there is only one project getting built above it all. Having Elevate built directly over the station is why this project will outperform any other local projects in the future”.

Third.i has appointed JLL Residential Project Sales as the project marketer and sales partner for Elevate.

Luke Billiau, Head of Capital Markets – Australia and New Zealand at JLL, said Elevate represents the future of integrated transport-oriented development.

“We’re confident it will attract significant interest from both local and international buyers,” Billiau said.

Read More.

Australian property development company, Thirdi Group (Third.i) says it has achieved transformational outcomes in their operational processes following their transition to a new CRM platform a year ago.

With a portfolio that includes landmark projects such as Hume Place, Dairy Farmers Towers, Kurraba Residences and Balfour Place, Third.i has delivered several sustainable housing solutions across Australia.

However the slow upwards creep of construction costs are begining to bite. In one case, a 50% increase in construction costs over two years forced Third.i to ask the City of Newcastle to approve expanded plans to maintain project viability on its Merewether village development.

To help try and stave off these cost increases, and also to try and enhance their overall operational efficiency in a market that has become increasingly economically challenging, the company says it partnered with Unlatch in order to “provide significant benefits across their projects”.

“This partnership has enabled us to streamline operations and focus more on delivering exceptional developments like Hume Place, where technology integration and customer-centric design are paramount,” says Luke Berry, director and co-founder of Third.i.

Tammy Clinch, Head of Marketing at Third.i. says “The system’s transparency and functionality have helped drive interest and engagement in projects such as Muse Potts Point.”

Recently reported by Architecture & Design was Balfour Place, is another luxury apartment project in Lindfield, NSW developed by Third.i in conjunction with joint venture partner Phoenix Property Investors (PPI), has officially topped out with the completion of all structural works.

Designed by Rothelowman, Balfour Place is situated on Balfour Street amidst Lindfield’s beautiful leafy setting, with the development offering residents the promise of luxury living combined with the charm of village life.

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Australia is a drop in the ocean in terms of capital and development globally.

So for those who make the dive into the international pool there is a lot to learn, particularly when working on a mega-scale.

Across the world, a diverse group of mega-projects are slated for completion in 2024, from tall towers to rail networks, airports to whole new cities, precincts and arenas.

For some it is go big or go home, for others it is an opportunity to expand into a new market.

DKO founding partner Koos de Keijzer is off to Jakarta to set up an office in Indonesia and to design housing parcels within PIK2, an upscale waterfront project north of Jakarta featuring residential areas, commercial spaces, and recreational facilities.

Property developer Agung Sedayu and Salim Group are behind plans to create the new Jakarta city. De Keijzer says they are working with the developers to design homes within the project.

“They have a 6000ha site on the north side of Jakarta up against the sea—and we are doing three or four housing parcels,” de Keijzer tells The Urban Developer.

“Like most things in South-East Asia it is a colossal project, it’s all about the rising Indonesian middle class.

“We got that job because we’re working with the same developer on Belmont Park in Perth and hence they liked our work and the way we approached things.”

Golden Sedayu has a 38ha, $3.8-billion project, including a racecourse, towers and entertainment precinct on the Swan River.

Also on the cards for DKO offshore are a boutique Bali restaurant, Saltlick; 1000 apartments in Vietnam, Kiwi mega-churches and the Pullman Accor Hotel at Hamilton, also in New Zealand.

“All our work outside Australia is strongly relationship based,” de Keijzer says. “But in Vietnam I’ve probably learned a lot more there than I taught them.

“The way they deal with density is an approach we can learn from.

“The urban form is quite different, they have houses four or five storeys tall, all through-ventilated and it is easy to have a private part of the house and a public part of the house.

“It’s a typology we don’t really work with in Australia. We are trying to but the planning rules are quite onerous.”

Of the Australians working on mega-projects, some do so directly with Australian-based companies as is the case for DKO while others are withglobal firms.

There are Aussies at the engineering business Robert Bird Group working on Kai Tak Sports Park in Hong Kong, Spotify Cam Nou in Barcelona, and Sound Storm in Riyadh as well as several airports.

While perhaps not quite meeting the mega-project threshold, but with a sizable £180-million project under way in London, and a $2.5-billion pipeline, is Third.i Group.

Of the 160 build-to-sell apartments in its Graphite Square project at Vauxhall on the south bank of the Thames, less than 30 apartments are unsold.

Third.i director Luke Berry says while there are similarities between the UK and Australia, notable differences in Britain include about 70 banks interested in financing property projects.

“That means it is a lot more competitive with our funding and we can get a better outcome and terms, that’s an advantage,” Berry says.

“Some of the funding partners who have invested in London with us now want to invest with us in Australia, and it goes the other way.

“London as a landscape is so competitive. When you launch a project in Sydney, a global city in its own right, there may be four projects launching at the same time.

“When you launch in London that could be 30 to 40 and the media landscape is so vast.

“Over here there’s core media partners we work with to launch to the market but in London there’s hundreds of options.”

This is creating new opportunities and challenges for the developer but there is also another buyer pool, the bulk buyer.

“The appetite to buy stock in London in bulk is something that I haven’t seen in Australia for a long time—from a foreign investment view we haven’t made it easy,” Berry says.

“I’ve got clients who have bought five to 10 apartments in a line.”

“We’ve had clients, site unseen, spend £10 million to £20 million remotely from the Middle East and Far East wanting to invest in London real estate because it is so stable and so safe.”

Third.i is now planning to expand in the Lambeth borough with several sites in the pipeline for projects from 50 to 500 apartments each.

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The $180-million Balfour Place development, Third.i’s project in Sydney leafy Upper North Shore, has topped out.

The Lindfield project will eventually deliver a mixed-use precinct spanning a 7000sq m site that was formerly a Coles supermarket.

Lead by high-profile developer Third.i with joint-venture partner Phoenix Property Investors (PPI), the shoptop mixed-use project’s structural works are now done.

Work on the block at Balfour Street got under way in March of last year and is due to complete in early 2025. Conquest is the builder.

Balfour Place will comprise 59 apartments designed by Rothelowman in a mix of one, two, three and four bedrooms, on top of 4500sq m of retail and hospitality spaces, including a Coles supermarket.

The project launched to the market in April, 2022, selling out within a matter of weeks.

Third.i co-founder Luke Berry said they had “tailored Balfour Place to meet the evolving needs of the market, particularly focusing on providing larger living spaces that are ideal for residents”.

The Coles at Balfour Place will be double the size of the prior store and will include a Liqourland and heritage commercial space fronting the Pacific Highway.

More than 230 carparking spaces will span across two levels.

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