The post-COVID downturn in demand for office space could present a chance to help solve part of Sydney’s housing shortage.

One private developer is teaming up with a community housing provider in the hope of delivering much-needed affordable apartments for frontline health workers.

Royal North Shore is a major teaching hospital, with more than 100 positions vacant.

Brett Manwaring from community housing providers Evolve Housing says that “one of the key things they’re hearing is I can’t find affordable accommodation in the area”.

Staff at the hospital are instead forced to cop exhausting commutes.

Brad Ernst, an employee at the hospital, said: “I get the 7.19 train from Woy Woy to St Leonards.

Just up the road at Crows Nest there are plans for a 21-storey office block. Space that is no longer in high demand.

Now developer Third.i has gone back to the drawing board to see if one problem can solve the other.

“We’d like to amend the concept DA to be able to put affordable housing on the site,” the developer said.

Their tower is above the new Crows Nest station.

They said that while staying within its original footprint, the amended proposal would swap offices for 300 private apartments in the block.

It would also create another 100 units reserved for health workers to rent at a discount of at least 25 per cent off the market rate.

“You’re located above a metro station so you can access most of the major hospitals across Sydney in a matter of minutes,” the developer said.

The title for the affordable housing block would be signed over to community provider Evolve, with a potential ripple effect.

“We can probably own and develop a further 400 properties across Sydney as a result of this asset being gifted to us in perpetuity,” Manwaring said.

Third.i is hoping that will sweeten the deal for both the community and the planning minister to sign off on the change.

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Australian property developer Third.i and joint venture partner Phoenix Property Investors (PPI), are planning to provide frontline Sydney healthcare workers with a range of new affordable housing at their Crows Nest Metro over-station project, Hume Place.

In an industry-first, Third.i and PPI are partnering with one of Australia’s largest community housing providers, Evolve Housing, and proposing to designate 15 per cent of the mixed-used development to nurses, midwives, health professional and services staff working at nearby Royal North Shore (RNS) Hospital and other local health facilities.

This will allow health workers, who are unable to find affordable rental apartments within the local government area, to live close to their workplaces. A demographic study 1 commissioned by Third.i and PPI shows that local health workers and services staff are being forced to travel between 30-50 kilometres to get to work every day or night. Workers from Royal North Shore Hospital living alone are paying up to 58 per cent of their salary for a studio in the local area.

Health Services Union Secretary, Gerard Hayes, said we have a housing crisis that is becoming a health crisis.

“Essential health workers are already making the tough decision to leave the sector in search of work closer to home. A hospital cleaner, a physiotherapist, a wardsperson, these workers shouldn’t have to travel for hours each day, coming to work already exhausted. We need solutions that mean these workers can afford to live in the communities they serve,” Hayes said.

NSW Nurses and Midwives’ Association General Secretary, Shaye Candish, welcomed the Third.i and Evolve partnership, pointing to a new member survey, which showed the lack of affordable housing was causing stress and anxiety for many healthcare workers.

“Many nurses and midwives in NSW struggle to secure affordable housing. 76% of respondents to our member survey said a lack of affordable housing was a problem, and over half indicated they were insecure in their current accommodation or didn’t have a steady place to live,” Candish said.

“Proximity to work is particularly relevant because of nurses and midwives’ work patterns, including shift work. 90% want to live near their workplace and access to affordable housing influences their employment decisions. 69% of respondents said they were experiencing rental stress.

“With the crippling cost-of-living pressures, the harsh reality is that the overwhelming majority of healthcare workers simply cannot find, let alone afford, to live near RNS, The Mater or other health facilities on the lower north shore.

Evolve CEO Lyall Gorman said demand for affordable housing far out-strips the current supply on to the market.

“That’s why we’re delighted that Evolve’s partnership with Third.i will potentially deliver a pipeline of new affordable housing for healthcare workers, who otherwise would be travelling between 1-2 hours to get to work every day.”

Third.i Director and Co-Founder Robert Huxley said Third.i was excited that the ‘Hume Place’ development could help address the chronic shortage of quality, affordable housing on Sydney’s lower north shore.

“We want to give frontline healthcare workers, like nurses, midwives, paramedics, and health professional and services staff, the chance to finally find quality, affordable housing options, close to Royal North Shore Hospital, The Mater Hospital and other local health facilities,” Mr Huxley said.

“The strategic location of the development, right above the Crows Nest Metro, will allow health care workers to easily access Royal North Shore Hospital, RPA, Sydney and St Vincent’s Hospitals, within just a few minutes. “Our proposed amended design aligns with the Minns Government’s drive to get more housing in connected, urban areas around stations and transport hubs, allowing key workers to live close to their work.”

Third.i and PPI have already been granted Stage 1 approval for the Metro Precinct (Site A and B) development, but due to a decreased demand for office space, the urgent need for additional residential density in the LGA and in line with the Minns Government’s commitment to increasing the low supply of affordable housing, Third.i and PPI are proposing to amend the concept SSD for Site A for mixed-use, which includes a mix of affordable housing, private residential, retail, and commercial floor space.

Huxley said Hume Place will not only address the growing residential needs of the community, but create much-needed economic activity for local businesses.

“Should the project be approved, it will offer frontline workers a new benchmark of affordable and convenient inner city living; close to transport hubs, amenities and major hospitals in the Northern Sydney Local Health District. Frontline health workers, cleaning and catering staff working at local hospitals will all benefit from the affordable housing options, greatly-reduced travel times and improved work-life balance. 3 “These new residents will shop and spend locally which will be an added bonus for the local business community.”

Third.i will hand over the title of the affordable tower to Evolve, should the amended application be approved. The proposed precinct is set to launch to market on 15 October 2023 at the local community event, Crows Nest Fest .

Third.i has partnered with over 40 local businesses to offer attendees the chance to win one of three $10,000 voucher packs, to be used throughout Crows Nest.

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LIVING independently has opened up “a new world” for Rebekah Baldez since she moved into specialist disability accommodation in Wickham.

Ms Baldez lives in one of 24 specialised units in the Eaton on Union and Stella on Wickham apartments created in 2019 by property developer Thirdi in partnership with disability service provider, Aruma, and iNSiTU Housing to offer homes for people living with disability in Newcastle.

The units have a 100 per cent occupancy rate.

Following the success of Wickham, Aruma, iNSiTU Housing, and Thirdi plan to roll out a similar model in the Dairy Farmers Towers in Newcastle West with 10 specialist disability units planned for the project which is due for completion in 2025. It will also be introduced in other regions including North Gosford and Taree in 2023.

The units offer features such as wide door frames, motorised height adjustable benches, provisions for ceilings hosts and grab rails, and are assistive technology ready.

Residents have access to multiple common spaces, including rooftop gardens. “Before coming to live in my current apartment, I often couldn’t get in and out of the house easily,” Ms Baldez said.

“Now that I can both access my own home and live independently, a new world has opened up and it means I’m able to do so much more. “I’ve even been able to secure employment.”

With Australia expected to experience a shortage of over 100,000 homes by 2027, iNSiTU Housing chief housing officer Rosie Trantham said the need for specialist homes had never been more important.

“We’re incredibly proud to have recently announced that Stella and Eaton are now at a 100 per cent occupancy rate,”Ms Trantham said.

The apartments available via iNSiTU Housing feature Aruma’s new co-living shared support model which offers residents with a disability to have access to on-call support from Aruma staff.

Caitlyn Morrissey is also a resident of the development at Wickham.

Ms Morrissey spent three years searching for accommodation to suit her needs before securing an apartment in the city.

She said features such as electric doors and being able to use her own supports ensured she could live

independently.

“It’s a better option than the group home accommodation because it allows me to live my life as independently as possible,” she said.

According to the NDIS’ specialist disability accommodation (SDA) 2021/22 quarter four report, there are more than 19,000 NDIS participants with SDA supports, however, there are only 7000 SDA homes.

While the number of homes continues to rise each quarter, so does the expected number of NDIS participants.

“In Newcastle and its surrounds, we have seen a growing need for specialised housing and by partnering with others, Aruma can be part of the solution,” Aruma CEO Dr Martin Laverty said.

LIVING independently has opened up “a new world” for Rebekah Baldez since she moved into specialist disability accommodation in Wickham

Ms Baldez lives in one of 24 specialised units in the Eaton on Union and Stella on Wickham apartments created in 2019 by property developer Thirdi in partnership with disability service provider, Aruma, and iNSiTU Housing to offer homes for people living with disability in Newcastle.

The units have a 100 per cent occupancy rate.

Following the success of Wickham, Aruma, iNSiTU Housing, and Thirdi plan to roll out a similar model in the Dairy Farmers Towers in Newcastle West with 10 specialist disability units planned for the project which is due for completion in 2025.

It will also be introduced in other regions including North Gosford and Taree in 2023.

The units offer features such as wide door frames, motorised height adjustable benches, provisions for ceilings hosts and grab rails, and are assistive technology ready.

Residents have access to multiple common spaces, including rooftop gardens.

“Before coming to live in my current apartment, I often couldn’t get in and out of the house easily,” Ms Baldez said.

“Now that I can both access my own home and live independently, a new world has opened up and it means I’m able to do so much more.

“I’ve even been able to secure employment.”

With Australia expected to experience a shortage of over 100,000 homes by 2027, iNSiTU Housing chief housing officer Rosie Trantham said the need for specialist homes had never been more important.

“We’re incredibly proud to have recently announced that Stella and Eaton are now at a 100 per cent occupancy rate,” Ms Trantham said.

“With more in the pipeline in Newcastle at Dairy Farmers Towers and other cities along the NSW East Coast, we look forward to bringing more apartments to life, and communities that are structured to support residents in developing their capability to live as independently as possible.”

The apartments available via iNSiTU Housing feature Aruma’s new co-living shared support model which offers residents with a disability to have access to on-call support from Aruma staff.

Caitlyn Morrissey is also a resident of the development at Wickham.

Ms Morrissey spent three years searching for accommodation to suit her needs before securing an apartment in the city.

She said features such as electric doors and being able to use her own supports ensured she could live independently.

“It’s a better option than the group home accommodation because it allows me to live my life as independently as possible,” she said.

According to the NDIS’ specialist disability accommodation (SDA) 2021/22 quarter four report, there are more than 19,000 NDIS participants with SDA supports, however, there are only 7,000 SDA homes.

While the number of homes continues to rise each quarter, so does the expected number of NDIS participants.

“In Newcastle and its surrounds, we have seen a growing need for specialised housing and by partnering with others, Aruma can be part of the solution,” Aruma CEO Dr Martin Laverty said.

“,We are thrilled to provide NDIS participants with even more choice and control in their supports so they can thrive in the community.”

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Third.I has announced that Decode will handle the construction of its CKDS Architecture-designed Dairy Farmers Towers projects, located in Newcastle’s CBD.

Comprising 180 luxe residences – 10 of which will be Specialist Disability Accommodation apartments – the project will feature a gym, swimming pool, sundeck, wine bar and cellar and a co-working space. The project will also re-imagine the heritage-listed, iconic glass milk bottle and clock towers as part of a pedestrianised, broader public art installation.

Decode captured Third.i’s attention on a competing development, Grande Pyrmont, while delivering its luxury townhouse project, Paragon of Pyrmont. The construction company has won Urban Taskforce Awards for its work on the likes of Grande Pyrmont Bay Estate and Burwood Grand.

“We were thoroughly impressed with the quality of the build at Grande Pyrmont, and we have wanted to work with Decode ever since,” says Third.i Co-Founder Luke Berry.

“After reviewing Decode’s projects within Sydney and the surrounding areas, we gained an understanding of the team’s ability to deliver a quality product that all stakeholders were proud of.

“Today’s announcement marks the start of an exciting partnership that will see Dairy Farmers Towers brought to life for residents and the wider Newcastle community.”

Berry says Newcastle is a drawcard for first homebuyers, with three quarters of the project’s apartments already sold.

“From first home buyers through to downsizers, Newcastle has everything you could ever want in a city without the continuous hustle and bustle of major cities such as Sydney,” he says. 

“Offering access to a great selection of bars, restaurants, large shopping centres and other lifestyle amenities, the region is the perfect option for those who still want a city life paired with a more peaceful lifestyle.”

Decode will be on site in the coming weeks upon completion of early works at Dairy Farmers Towers.

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THE construction of Dairy Farmers Towers is edging one step closer to its completion date of mid-2025.
Project developer Thirdi Group announced on Wednesday that it had appointed Sydney- based construction company Decode to lead the $110 million build.

The development includes 180 luxury one-, two- and three-bedroom apartments built across two towers at the former Dairy Farmers site at 924 Hunter Street, Newcastle West.

Tower one is the highest at 30 storeys and tower two spans 25 storeys. A separate commercial space is five storeys high.

“Today’s announcement marks the start of an exciting partnership that will see Dairy Farmers Towers brought to life for residents and the wider Newcastle community, “Thirdi Group co-founder Luke Berry said.

Mr Berry said Decode would be on-site in the coming weeks upon completion of early works for the project.

The residential and retail development will retain the heritage-listed milk bottle and clock towers synonymous with the site of the former Dairy Farmers building which was established in 1939 and used for receiving, bottling and distributing milk until 1991.

Mr Berry said Decode was chosen for the build due to its experience inconstruction and its history of transforming and restoring historical sites.

Other projects completed by Decode include the Grande Pyrmont Bay Estate in Sydney which comprised 1 luxury terrace homes surrounded by heritage-listed buildings.

“We were thoroughly impressed with the quality of the build at Grande Pyrmont, and we have wanted to work with Decode ever since,” he said.

“After reviewing Decode’s projects within Sydney and the surrounding areas, we gained an understanding of the team’s ability to deliver a quality product that all stakeholders were proud of.”

As well as the 180 apartments, Dairy Farmers Towers will include communal green spaces, a state-of-the-art gym, an elevated outdoor swimming pool and sundeck, a wine bar and cellar, as well as a residents’ only shared work hub.

In addition, the project will also re- imagine the site’s glass milk bottle and clock towers as part of a broader public art installation.

According to Third Group, Dairy Farmers Towers has seen strong interest since its launch in late 2021, with 75 per cent of the apartments already sold. This includes the $6.5 million sale of a penthouse spanning 325 square metres.

“Despite tough economic conditions over the past 12 to 18 months, we haven’t seen a decline in activity throughout the region with demand remaining steady for the relaxed, more affordable lifestyle Newcastle has to offer, ” Mr Berry said.

The project is the latest in the city for Sydney-based Thirdi Group which has already completed seven other developments in Newcastle including WEST Apartments, Eaton On Union and Stella on Hannell.

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Australian developer Third.i has opened its first international head office in London with plans to “tap into local demand” and expand its presence in the UK market.

The firm’s new offices are located at 22 Albert Embankment between Lambeth Bridge and Vauxhall Station, and the news comes three weeks after it acquired the former Royal Doulton site, now a 14-storey office block, for a luxury residential development.

Third.i said it had been active in the London market for almost five years, and had already built up a £185m pipeline of new-build homes in the city, alongside an additional £130m planned following the Royal Doulton acquisition.

The company is set to build a billion-pound pipeline over the next five years, including the acquisition of three additional sites in the UK by the end of 2024, adding more than £500m in GDV.

Two prime sites, Graphite Square in Vauxhall and the Doulton in Lambeth, will launch in September.

The firm wants to build its own UK-based team, headed up by co-founder Ron Dadd who’s transfered from Australia along with others from the Sydney team.

“We are very excited to be opening our first international office in London and to expand the Third.i presence to the UK,” said Luke Berry, co-founder and director of Third.i.

“This is the strategic next step following our growth in Australia. We want to let our buyers know that we are here to stay through not only investing in a full-time office but by relocating some of our Australian team too.”

Berry continued: “There are significant opportunities to be had in the UK from student accommodation to retirement living, so London is an appealing base to operate from.”

Dadd said the company’s expansion into the UK five years ago came at the right time for the company to build on its Australian success.

He added: “I am very excited to be given the opportunity to head up Third.i’s UK team.

“Working with the head of our UK business, Gareth Hardy, we identified the opportunity to replicate what we were doing in Australia in London, and the strength of our results to date demonstrate the demand in London for residences in desirable locations that have a focus on design and architecture.

“We work with world-class architects, interior designers and placemakers around the world to create vibrant places for people to live, work and play, and have a strong track record of selling out projects and breaking suburb records.”

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Australian property developer Third.i has opened its first overseas office in London as it seeks to expand its pipeline to £1bn over the next five years.

The developer, which has been active in the London market for almost five years, has a £185m pipeline of new-build homes in the capital and has a further £130m planned once it completes an acquisition later this month.

Third.i is in the process of buying a circa 52,000 sq ft site in central London, which will feature luxury apartments.

It is also planning to purchase three additional sites by the end of 2024, which will add a combined GDV in excess of £500m.

The firm took up around 1,600 sq ft of office space in April at 22 Albert Embankment, SE1, for its six employees, including co-founder Ron Dadd and director of development Gareth Hardy.

Third.i acquired its first scheme in London in 2018 when it bought 58-70 York Road, SW11, followed by Graphite Square, SE11, (pictured) in 2020. In Australia the company has delivered more than $4bn (£2bn) of commercial and residential properties.

Later this year the developer will launch its Graphite Square scheme, which comprises 160 homes, 80,000 sq ft of co-working office space and communal gardens. A third of the flats were sold in less than three months during the initial marketing campaign, which made it the fastest selling scheme in Zone 1.

Co-founder and director Luke Berry said: “This is the strategic next step following our growth in Australia. We want to let our buyers know that we are here to stay, through not only investing in a full-time office but by relocating some of our Australian team too.

“There are significant opportunities to be had in the UK, from student accommodation to retirement living, so London is an appealing base to operate from.”

He added: “Gareth went to school with one of our founders and has followed us on our Third.i journey ever since. He saw an opportunity in London and asked if he could produce a fully secured deal to us, would we consider it. We agreed and that was our flagship project in Battersea. We have continued to grow the UK business ever since and it was important for us to have an office in the area we are focusing on, which is close to both Graphite Square and another site we are about to acquire.”

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The builder for Thirdi’s Dairy Farmers Towers in Newcastle has been announced.

Multi-award-winning construction company Decode will lead the build of the project, which will comprise 180 luxury one, two and three-bedroom apartments in the NSW city’s West End.

An iCIRT-rated and multi-accredited builder, Sydney-based Decode’s projects include the Grande Pyrmont Bay Estate, comprising 11 high-end terrace homes surrounded by some of Sydney’s oldest heritage-listed buildings, including the Terminus Hotel.

It was also responsible for the $500-million Burwood Grand—the transformation of 10,000sq m of the Sydney suburb’s commercial centre into 498 apartments, 16 retail spaces and 4000sq m of council chambers across three buildings and a total of 54 storeys.

Thirdi said it had appointed Decode due to its “extensive experience in delivering excellence in construction and history of transforming and restoring historical sites into quality-built environments”.

Thirdi co-founder Luke Berry said Decode’s Grande Pyrmont  had drawn their attention to the builder.

“We were thoroughly impressed with the quality of the build at Grande Pyrmont and we have wanted to work with Decode ever since.

“After reviewing Decode’s projects within Sydney and the surrounding areas, we gained an understanding of the team’s ability to deliver a quality product that all stakeholders were proud of.”

Dairy Farmers Towers was approved in June last year and will include communal green spaces, a state-of-the-art gym, an elevated north-facing outdoor swimming pool and sundeck, a wine bar and cellar, as well as an exclusive residents-only shared work hub.

In an nod to Newcastle’s history, according to the developers, the project will also reimagine the heritage-listed glass milk bottle and clock towers as part of a pedestrianised, broader public art installation.

Dairy Farmers Towers’ apartments were 75 per cent sold, Berry said.

Thirdi is one of the largest providers of Specialist Disability Accommodation apartments along the East Coast of Australia, partnering with numerous Specialist Independent Living Advisors to provide suitable accommodation in their large-scale developments, including Dairy Farmers Towers, which will deliver 10 SDA apartments.

Decode will be onsite in the coming weeks upon completion of early works at Dairy Farmers Towers.

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Having been active in the London market for almost five years, Australian property developer, Third.i, has now opened its first international head office here, in order to tap into local demand having already built up a £185m pipeline of new build homes in the city, with a further £130m planned following the recent acquisition of Westminster Tower in Lambeth which has been renamed ‘The Doulton’ and launches in September 2023.

As part of its ongoing investment into London’s property market, the 156 sq m office at 22 Albert Embankment – which is located on the river between Lambeth Bridge and Vauxhall station – is strategically situated to enable the firm to build its own UK based team which is being headed up by co-founder, Ron Dadd, who has transferred from Third.i’s base in Sydney.

As part of their ongoing investment into London, Third.i’s new office is also home to the marketing suite of another residential scheme, Graphite Square in Vauxhall, in preparation for its official UK launch later this summer.

Founded in Sydney over twenty years ago, Third.i have become a global leader in property development and investment, collaborating with the world’s leading architects, designers and place makers to create vibrant places for people to live, work and play in – from cradle to grave.

Having successfully delivered over AUD$4bn pipeline of commercial and residential properties in Australia, the firm brought their innovative model and expertise to the London market in 2018 with the acquisition of their flagship scheme, 58-70 York Road in Battersea, followed by Graphite Square in 2020, where over 60 per cent of homes have since sold off market prior to its official UK launch later this year.

“We are very excited to be opening our first international office in London and expand the Third.i presence to the UK,” said Luke Berry, co-founder & director of Third.i. “This is the strategic next step following our growth in Australia. We want to let our buyers know that we are here to stay through not only investing in a full-time office but by relocating some of our Australian team too.”

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