Private developers are focused on delivering long-term environmentally friendly and sustainable projects that range from assets in the north shore by Watermark to the tallest residential tower in Sydney’s south-west from the Fyve group.

At Chatswood, developer Watermark Living and Partner, which is a subsidiary of Plenary Group, beat out strong competition from large-scale companies such as Lendlease to develop the $250 million retirement living project in partnership with the Chatswood Golf Club.

After seven years in planning, construction has started on the planned 106 apartments that will overlook the 12-hole golf course at Newgreens on Sydney’s lower north shore. It will feature a restaurant run by chef Sean Connelly and the former Rugby Union halfback, Dominic Vaughan is designing wellness and fitness programs.

But setting it apart from its competitors is the focus on sustainability that will mean residents will never receive a power bill, thanks to solar panels that will generate all the necessary electricity.

Will Tynan, the director of Watermark Living, said retirees, like everyone else, are looking to reduce their carbon footprint, so having solar energy systems that provide enough power across an entire site, will eliminate electricity bills.

“Watermark Residents will also have access to electric car sharing and charging stations, promoting the disposal of a second car and the transition to a hybrid or electric vehicle,” Tynan said.

For purchasers, Tynan said Watermark Residences have one of the lowest deferred management fees (DMF) in the industry at 25 per cent with the resident keeping the capital gains, which he said, is unlike most other retirement operators.

He said Watermark Residences is forecast to be completed in the third quarter of 2024.

Further away at Liverpool, the Sydney-based developers Fyve have unveiled their plans for the area’s tallest development-approved tower, rising to 34 storeys with an end development value of $200 million.