However Fridcorp will now increase the density of the proposed project by fitting 180 flats within the approved building shell. A new artist impression presents a slightly different façade to the Tresor proposal.
The Avenues will replace a Lamborghini car dealership.
Elsewhere in the immediate area, design practice Metier3 recently paid photographic distributor CR Kennedy $25 million for a 3537 square metre low-rise industrial site at 661 – 669 Chapel Street. That site is expected to make way for at least two major apartment towers in the medium to long term.
New apartment projects are also being developed behind the Como Hotel, and replacing former industrial zoned properties immediately west of the South Yarra train station – not far from The Avenues – and in an area known throughout planning as Forrest Hill.
Fridcorp is nearing the completion of a $150 million high-density apartment project, lilli, which is being developed within the Forrest Hill precinct, on a site which once housed notorious nightclub Salt.