23 September | residential

Bucking the trend

With recent low market sentiment, it’s refreshing to see GWH bucking the trend with three residential developments now under construction in Newcastle and the surrounding suburbs. 

Highpoint Apartments in Charlestown has now reached its structural height and is set for completion in March 2020. 121 Elder in Lambton has completed its lower levels and structural completion is expected for the end of 2019. The affordable housing contract build for Evolve Housing also began in August. This inner city project is due to bring relief too essential service families by mid 2020.

In what many describe as the worst market downturn since the GFC, the Newcastle market seems to be bucking the trend with sales in our residential developments holding steady. It really is exciting times for GWH, structurally completing three residential projects in 2019 means we’ll be delivering 113 new homes to the region by mid 2020. This will add to the 324 homes we’ve delivered since 2017 and will continue our 100% completion rate.

Highpoint Apartments is a milestone project for GWH and the Lake Macquarie region. It now stands as the tallest building in Lake Macquarie, commanding sensational views from all aspects including ocean views from level 4 and is our next residential tower, following AERO Apartments in Newcastle West. Initial site works on the 68 residential apartments began in May 2018 with the sub ground, three level basement completed by the end of 2019. The fourth floor podium level was reached in May 2019 from which a structural floor was completed every 7 days, reaching the structural height of 165m in September 2019. The internal fitout will now continue, utilising local contractors from our ‘Preferred Partner Program’ with expected completion in March 2020.

“It’s a great development that delivers positive outcomes for Charlestown by offering a variety of housing options close to our stunning beaches and lake, as well as fabulous retail, health and other services all within walking distance” 

Cr Kay Fraser - Lake Macquarie Mayor

Affordable Housing in Newcastle took a positive step forward in August 2019 when we proudly began constructing Evolve Housing’s new 30 residential apartment development in the CBD. Installing the tower crane mid August has allowed us to begin constructing the four storey structure ‘The GWH Way’. With this methodology we’re aiming for structural completion within 60 working days (weather permitting) topping out by the end of 2019. Low-to-medium income families and those working in the essential service in Newcastle can expect to be moving into these high quality 1, 2 & 3 bedroom homes by mid 2020.

“We at GWH are proud to be partnering with Evolve Housing to deliver this important, high quality affordable housing development that will allow families and individuals working in the essential services sector to rent a quality home in the city of Newcastle”

Jonathan Craig , Managing Director GWH

121 Elder is changing the face of one of Newcastle’s most sought after and tightly held suburbs, Lambton. This unique development of 15 boutique apartments began construction in July. In August the team completed the lower ground floor slab and installation of 29 precast panels, supplied by Hunter Precast. This will form the resident carpark and secure storage area. Moving forward we are again expecting to complete the structure by the end of 2019. Working closely with our local preferred partners, we’ll be delivering brand new homes to the locals by Autumn of 2020.

With economists now sharing our belief in the residential property market, many have begun forecasting property prices will continue a month on month growth over the next 12 months and beyond. So there truly isn’t a better time to buy or invest. All the team at GWH are truly proud to be enabling as many people as possible to invest, own and live in the types of properties they could have only imagined to be possible. Stay tuned for another residential announcement in the coming month.

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