THEY build “love-it-or-hate-it” apartment complexes in some of Melbourne’s best streets.

And now boutique builder Arno is coming to St Kilda, with plans to develop a four-storey, 33-unit high-end apartment building at the intersection of Acland and Carlisle streets, opposite the O’Donnell Gardens and Luna Park.

The Face, as it is to be known, will be identified by its distinctive “sinuous and liquid” copper facade, and oval shaped window frames, inspired by surrealist artist Salvador Dali.

Residents in St Kilda Road’s distinctive Yve apartment block may have noticed it was a little busier in the reception foyer this last fortnight, with Australian tennis champ Lleyton Hewitt and family finally able to use the penthouse he had the foresight to buy four years ago.

St Kilda Road will always be remembered as the precinct to pioneer high rise apartment living in this city. Dotted in amongst the retained mansions, and tired old office buildings, are some of the most prominent apartment towers in Melbourne – including the Kingstoun, Yve – and Melburnian.

On January 1 2007, tens of thousands of like-minded investors suddenly made the decision that they would invest in property – driving them to the market in droves.

Charter Hall, one of Australia’s leading property fund managers and property developers has been awarded the exclusive right to negotiate the purchase of the Nine Network’s headquarters in both Sydney and Melbourne following a tender process.

Any chance of the North Melbourne football club’s Arden Street training ground being turned into townhouses and apartments has faded – for the moment anyhow.

Five retail shops on the ground floor of St Kilda Road’s Chevron Hotel have sold via an expression of interest campaign, in deals worth more than $6 million.

Fifty years ago, developers wanted to replace the grand old Astor Theatre with its traditional stalls and dress circle, with a bowling alley or library. Now developers are eyeing the cinema block as a site for high-rise apartments.

A private developer has paid $7 million for a 5000 square metre development site in the inner northern suburb of Parkville.

Melbourne’s fascination with bayside property shows no sign of stopping soon, according to new research by the Real Estate Institute of Victoria.

RESIDENTIAL and commercial developer Omni Property Group is formalising plans to buy the Tip Top Bakery site in Brunswick, in a deal worth about $11 million.