Another 2500 flats are set to be developed at the Upper West Side project next door to the ex-Age site.
ISPT with joint venture partner Axium paid Fairfax almost $67 million for 250 Spencer Street about six years ago. The site is identified by a mission brown brick building, disused printing presses, and open-air car parks. The Age now rents part of a new office not far away and zoned – just – as Docklands.
The tallest of the proposed new tower will rise 63 levels (or 220 metres) and be just 20 metres shorter than the landmark Rialto building at 525 Collins Street nearby.
Other towers will rise between 140 – 200 metres. The project is expected to take about ten years to develop.