|
Written by Marc Pallisco
|
|
Saturday, 20 February 2010 00:08 |
|
MELBOURNE’s fast-gentrifying inner-city suburb of Southbank is about to see another major development.
Salvo Property Group has unveiled plans to develop two apartment towers totalling 850 units.
Construction of the project on City Road will start with pre-sales reach 70 per cent, director Mario Salvo told the AFR.
The development will include a 50-level tower with a seven-level podium, and a second tower, of 45-levels, with studio apartments from the first to seventh level.
Salvo Property Group purchased the City Road site from Crown Casino. It will be their third development Salta development in the area. Salvo has also developed the 109 Clarendon Street project.
Other developers in Southbank include Central Equity – responsible for the 1990s apartment building boom in the area – and India’s Dheeraj East Coast, which is planning several towers on the former car yard site known for many years as “the City Road wedge”.
|
