[PRO] 69-71 Melbourne Street | 7 lvls
Posted: Thu Jan 03, 2019 3:05 am
Not sure if this deserves its own thread
$11 million apartment tower proposed for Melbourne St in North Adelaide
Renato Castello, Urban Development Editor, The Advertiser
January 2, 2019 7:48am
Plans have been lodged for a $11 million apartment building for Melbourne Street that its developer says will be the first of its type for the struggling retail strip in at least 20 years.
The proposed seven-storey project, which would be the tallest building on Melbourne St if built, would feature 27 apartments ranging from one bedroom through to a pair of 180 sqm penthouses.
The site at 69-71 Melbourne St is zoned for buildings up to six storeys or a maximum height of 22 metres.
Citify managing director Joel Wilkinson said apartments would be priced between $370,000 to $1.4 million and aimed at a cross-section of buyers including first homeowners, young professionals and down.
The project would involve demolition of the existing building on the southern side of Melbourne St, which is currently leased to a gymnasium.
The development is a partnership between Citify Developments and Bert Farina Constructions who are behind a $48 million, 56-apartment complex on Unley Rd, Hyde Park and similar projects in Prospect.
Mr Wilkinson said the Melbourne St project would be the first residential apartment building on the strip in at least 20 years.
“It is also only one of a few blocks that is zoned appropriately to allow medium-rise development, it’s location is a great place to work, eat, play and to live,” he said.
“There is a latent demand in North Adelaide, specifically Melbourne Street, for apartments.
“We have a high level of interest from our clients, investors, purchasers already who are looking to buy in this location.”
Melbourne Street’s trading struggles have been well-publicised. A survey in 2016 found one in five shops along the street were vacant.
Renew Adelaide, the State Government agency that provides free short-term leases in vacant buildings, made its first foray into Melbourne St last August securing a florist to take over a previously vacant site.
North Adelaide Precinct Association president Morag Horton said it was positive that someone wanted to invest in the area but noted the building’s height could be of concern.
She said more broadly tenants, landlords and the council need to work together to bring some vibrancy and new business to the area.