The boutique builder has unveiled plans for Pearl, a luxury low-rise apartment complex at 312 Beaconsfield Parade in Middle Park, near the St Kilda West suburb border.
An existing five-level, 1980s apartment block will be demolished as part of the redevelopment.
Fridcorp managing director Paul Fridman says the new development will include 15 luxury apartments spread over five levels, each with uninterrupted bay views.
Boutique architect Wood Marsh designed the building, while designers Hecker Phelan and Guthrie – fresh from the Justin Hemmes Ivy building in Sydney’s George Street – will do the interiors.
Mr Fridman says an average 240-square-metre apartment would be priced around $4 million. The price of a 500-plus-square-metre penthouse remains undisclosed.